La-Z-Boy Incorporated (LZB) reported adjusted earnings of $0.43 per share for the latest quarter, missing Zacks Consensus Estimate by 10.4% and falling 9% year-over-year. Sales reached $476 million, which was nearly 5% below estimates and down 3% compared to the same period last year.
The company has provided a soft sales outlook amid significant investments in marketing, new stores, pricing, and digital initiatives that could impact profitability. Over the past three months, LZB shares have declined nearly 15%, leading to its current Zacks Rank of 5 (Strong Sell), reflecting a negative shift in earnings expectations.
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