Home / Knowledge / News / Textiles / La-Z-Boy announces Q4 fiscal 2007 sales results

La-Z-Boy announces Q4 fiscal 2007 sales results

25
Jun '07
La-Z-Boy Incorporated announced its operating results for the fourth fiscal quarter and full year ended April 28, 2007. Net sales for the quarter were $406.9 million, down 9.4% compared with the prior-year period. The company posted earnings per share from continuing operations of $0.16.

This includes a restructuring charge of $0.08 per share, related to the announced closure and consolidation of facilities as well as a reduction in employment, and a gain of $0.14 per share from the sale of various properties.

For the full year ended April 28, 2007, net sales were $1.62 billion, down 4.6% from the prior year.

The company posted earnings per share from continuing operations of $0.38 for the full year. The earnings-per-share figure includes:
• a $0.17 per share gain on the sale of properties;
• income per share of $0.04 related to anti-dumping duties received on bedroom furniture imported from China;
• a restructuring charge of $0.13 per share; and
• a non-cash stock option expense of $0.03 per share.

These results compare with a loss per share of $0.11 last year, which included:
• a $0.04 per share gain on the sale of properties;
• a restructuring charge of $0.10 per share; and
• a $0.44 per share loss from the write-down of intangible assets.

Kurt L. Darrow, La-Z-Boy's President and Chief Executive Officer, said: "We continue to operate in an environment marked by extremely difficult retail conditions across the industry and have remained focused on running our operations with efficiency and ensuring our cost structure is in line with our revenue stream."


Must ReadView All

Pic: Shutterstock

Textiles | On 16th Oct 2021

China's economic growth reflects strong resilience, vitality: Li

Premier Li Keqiang has said China is capable and confident of...

Pic: Shutterstock

Apparel/Garments | On 16th Oct 2021

BGMEA urges Bangladesh govt to reskill & upskill RMG workers

The Bangladesh Garment Manufacturers and Exporters Association...

Pic: Shutterstock

Retail | On 16th Oct 2021

UK retail sales rises by 0.6% in Sep 2021; figure 5.6% in Sep 2020

Total UK retail sales rose by 0.6 per cent in September this year...

Interviews View All

India-EU Summit, Representatives

India-EU Summit
Representatives

India-EU FTA will provide EU with better access to a huge & rapidly...

Textile Industry, Head honchos

Textile Industry
Head honchos

Led by MMF, Indian apparel exports likely to double in next 3 years

Textile Industry, Head honchos

Textile Industry
Head honchos

Next level is to inject new features:

Abdullah Mohammad Saad Hossain,

Abdullah Mohammad Saad Hossain

Saad Group is a leading vertically integrated textile group in Bangladesh. ...

Daniele Uboldi,

Daniele Uboldi

EptaInks is the screen-printing division of Eptanova, a company that...

Aashumi Mahajan,

Aashumi Mahajan

The Luxe Maison is a premiere haute couture e-boutique established after...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Sweta Agarwal, A Humming Way

Sweta Agarwal
A Humming Way

A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2021

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


Advanced Search