La-Z-Boy Incorporated Q1 2027 Earnings Call Summary
La-Z-Boy Incorporated reported Q1 2027 earnings, with retail segment growth of 10% driven by expansion and acquisitions. Same-store sales rose 3% due to better execution, leading to reduced fixed costs. Wholesale performance faced challenges from order patterns and industry softness. Joybird's manufacturing shifted to the U.S., but consumer volatility persists.
Digital transformation with AI and 3D tools aims to capture early online shoppers. Vertical integration, producing 90%+ of upholstery domestically, mitigates tariff risks. Management expects second-quarter sales of $500-$520 million, acknowledging macro volatility. Distribution costs will drop with fewer centers. The company divested the wholesale Casegoods business, and plant consolidations created one-time GAAP charges.
Ongoing monitoring of tariffs shows manageable impacts. Investors trust Moby's stock pick, with potential comparable to Nvidia.
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