Home / Knowledge / News / Textiles / La-Z-Boy net sales grow 1.8% in Q3 FY20

La-Z-Boy net sales grow 1.8% in Q3 FY20

Feb '20
Pic: La-Z-Boy
Pic: La-Z-Boy
La-Z-Boy Incorporated, US based furniture manufacturer, reported 1.8 per cent growth in sales to $475.9 million in Q3 FY20 compared to same quarter prior year. For year-over-year (YoY) basis net sales increased from $1,291.7 million in FY19 to $1,336.7 million. Sales in Q3 that ended on January 25, 2020, was led by growth in the retail segment.
Written same-store sales in Q3 FY20 for the La-Z-Boy furniture galleries network increased 10.5 per cent. Delivered same-store sales for the company-owned retail segment increased 5.5 per cent. 
For the quarter, sales in the company's upholstery segment increased 0.7 per cent to $336.7 million. Operating margin reportedly improved as supply chain inflationary pressures were more than offset by efficiencies and lower commodity costs. 
In the sasegoods segment, sales increased 0.2 per cent to $28.1 million and operating margin was 9.0 per cent compared with 11.9 per cent in the prior-year period, reflecting the impact of tariffs on the occasional table business and increased freight costs, company reported.
Sales in the retail segment increased 5.1 per cent to $167.5 million in Q3 FY20.
In Q3 FY20, the sales for Joybird (La-z-Boy acquired company), increased 17.9 per cent to $21.9 million. Joybird reportedly continued to improve its gross margin, fuelled by supply chain synergies.  Joybird reduced its loss for the quarter on a YoY and sequential basis. The company is continuing to make improvements across the business model with the objective to balance investments in growth with bottom-line performance.

Fibre2Fashion News Desk (JL)

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 10th Apr 2020

€5-mn EU emergency fund for Myanmar garment workers

In solidarity with Myanmar and the workers at risk in the garment...

Pic: Shutterstock

Textiles | On 10th Apr 2020

Govt exempts PPE, face mask import from customs duty

Considering the immediate requirement of personal protection...

Pic: Shutterstock

Textiles | On 10th Apr 2020

Opportunity for India post-Covid-19: Wazir Advisors

Post-coronavirus, some brands will follow the strategy of...

Interviews View All

Sachin Sharma, Gem Enviro Management Pvt Ltd

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Smarth Bansal, Colorjet India Limited

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Headhonchos, Textiles & allied industry

Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

DP Kumar,

DP Kumar

Weaves is South India's premier textile fair organised by Texvalley in...

Michael Van Den Dolder,

Michael Van Den Dolder

Family-owned German textile machinery manufacturer Trützschler operates...

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Kazuaki Yazawa, Purdue University

Kazuaki Yazawa
Purdue University

Scientist <b>Kazuaki Yazawa</b> has developed thermoelectric semiconductor ...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

April 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search