La-Z-Boy Incorporated Reports First Quarter Results; Led By Retail And Wholesale Delivered Sales Growth And Wholesale Margin Expansion; Retail Written Sales Up 5%
1. La-Z-Boy's retail sales increased 5%, lower consumer demand impacts margins. 2. Company announced acquisition of 15 stores, expected to close in October. 3. GAAP EPS decreased to $0.44, with adjustments to $0.47. 4. Operating cash flow generated was $36 million, down from previous year. 5. Company named top furniture retailer by Newsweek, enhancing brand reputation.