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Article: La-Z-Boy 4Q sales down 9.4%.(La-Z-Boy Inc. La-Z-Boy Business Furniture)(Financial report)
- Article from:
- Furniture-Today
- Article date:
- June 25, 2007
- Author:
CopyrightCOPYRIGHT 2007 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Larry Thomas
Monroe, Mich.- La-Z-Boy said fourth-quarter sales were 9.4% below last year's fourth fiscal quarter, but the company did reverse a net loss and recorded a profit from continuing operations.
The company said the quarter was plagued by difficult business conditions throughout its wholesale and retail units, so the focus was on keeping costs in line with lower sales.
"Despite significantly lower volume in both of our wholesale businesses, we maintained our operating margins this quarter," said Kurt Darrow, president and CEO. "We continue to operate in an environment marked by extremely difficult retail conditions across the ...
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