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Tuesday, August 21, 2018

=La-Z-Boy (LZB) reported earnings on Tue 21 Aug 18 (a/h)

La-Z-Boy beats by $0.14, beats on revs 
  • Reports Q1 (Jul) earnings of $0.39 per share, $0.14 better thanthe S&P Capital IQ Consensus of $0.25; revenues rose 7.7% year/year to $384.7 mln vs the $368.17 mln S&P Capital IQ Consensus
  • The fiscal 2019 first-quarter results were impacted positively by a $0.03 per share benefit for currency changes and $0.05 per share due to the lower tax rate related to Tax Reform when compared with the prior-year quarter
  • Margin declined slightly as recent price increases implemented to mitigate increased raw material costs were not yet fully realized in the quarter
  • Co said, "we are optimistic about the potential for La-Z-Boy Incorporated over the long term,although concerns relating to potential duties and tariffs that could impact the business persist and we are monitoring that situation closely to determine what changes may be appropriate.At the same time, our brand is the strongest in the industry, we have a world-class supply chain, a vast distribution network, and we now own a leading online furniture brand that is poised for growth and returns. We have the elements in place for the effective execution of our comprehensive dual-growth strategy to deliver long-term value to our shareholders."

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