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June 5, 2019, 4:56 p.m. EDT

La-Z-Boy stock declines on weak outlook

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By Wallace Witkowski

LZB

La-Z-Boy Inc. /zigman2/quotes/202858913/composite LZB -4.18% shares fell in the extended session Wednesday after the furniture company forecast full-year results that fell short of Wall Street estimates. La-Z-Boy shares, which had been down as much as 5% after hours, were last down 0.1%, following a 1% decline to close the regular session at $33.51. The company said it expects adjusted earnings of $2.13 to $2.15 a share on revenue of $1.75 billion for the year. Analysts surveyed by FactSet had forecast earnings of $2.21 a share on revenue of $1.76 billion. "For the full year, all segments delivered sales increases," said Kurt Darrow, La-Z-Boy chairman and chief executive, in a statement. "However, in the fourth quarter sales declined versus the prior-year quarter in our wholesale Upholstery and Casegoods segments, consistent with a slow start to the calendar year across the North American retail home furnishings landscape."

/zigman2/quotes/202858913/composite
US : U.S.: NYSE
$ 17.20
-0.75 -4.18%
Volume: 440,042
April 3, 2020 6:30p
P/E Ratio
10.51
Dividend Yield
3.26%
Market Cap
$791.77 million
Rev. per Employee
$190,182
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