La-z-boy reports first quarter fiscal 2024 results

Monroe, mich., aug. 22, 2023 (globe newswire) -- la-z-boy incorporated (nyse: lzb), a global leader in the manufacture and retail of residential furniture, today reported first quarter results for the period ended july 29, 2023. sales totaled $482 million, in line with guidance of $470 to $490 million, and a decrease of 20% against a year ago period that benefited from delivery of pandemic related backlog. company owned retail written same-store sales for the first quarter increased 2% versus a year ago, led by strong store execution. written sales for the entire la-z-boy furniture galleries® network also increased by 2%. operating margin was 7.2% in the quarter on a gaap basis and 7.0% on a non-gaap basis. earnings per diluted share totaled $0.63 on a gaap basis and $0.62 on a non-gaap basis.
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