Latest news with #LaZBoy
Fast Company
17 hours ago
- Business
- Fast Company
La-Z-Boy just rebranded to prove it's more than your grandma's recliner
Nearly everyone in America recognizes the brand name La-Z-Boy, and most will remember it fondly as part of their childhoods. Far fewer see it as a brand they would actually buy today, but La-Z-Boy is on a mission to change that. The company is unveiling its first rebrand in 20-plus years to position itself as more than just your grandma's recliner. The brand has traded its minimalist, sans-serif logo for a retro script wordmark. It revamped its color palette and adopted a whole new brand voice that emphasizes coziness and comfort rather than just function. La-Z-Boy requested that Fast Company refer to these changes as a 'brand refresh' (a term typically used as a safer, less extreme alternative to 'rebrand'), but the sum of these swaps equals a full visual overhaul. The new look is part of La-Z-Boy's 'Century Vision' strategy: a business plan intended to prepare the brand for growth after its 2027 centennial anniversary. Christina Hoskins, the company's chief marketing officer, says the key to jump-starting that upward trajectory is to make sure that La-Z-Boy is not a brand that exists only in people's memories. 'We started to suspect that we are a brand that's on the verge of fading into history, and we didn't want that to be the case,' Hoskins says. The new La-Z-Boy La-Z-Boy is contending with a housing and furniture market battered by consumer concerns around inflation, the rising cost of living, and the economic whiplash of President Trump's tariffs. According to its fiscal year 2025 financial report, La-Z-Boy notched $2.1 billion in sales—up 3% from the previous fiscal year but down from its 2022 high of $2.4 billion. As of this writing, the brand's stock is also down nearly 10% compared to this time last year. Hoskins says that to set itself up for the future, La-Z-Boy has been working on expanding its retail network. This year, it built 12 new locations and acquired seven independently owned stores—one of the largest annual expansions in company history. Originally, the goal of the refresh was to widen the company's consumer base alongside its retail presence by attracting a younger audience. However, as Hoskins and her team worked with partners at the branding agency Colle McVoy, they realized they needed to zoom out even further. After analyzing their existing branding and consumer feedback, they found that La-Z-Boy's marketing focus was specific to the functionality of its furniture, whereas target consumers across generations cared more about the feelings the brand could evoke. 'There is a [target] consumer out there who wants comfort first, who wants a home they can live in, who wants peace over perfection in life,' Hoskins says. 'The beauty of that is that we're able to go in through this more emotional angle and tap into people's values and beliefs, and then reach a broad consumer set. The outcome of that will be that we're reaching younger consumers, but we're not just chasing after the age alone.' Over the past couple of years, La-Z-Boy has already begun quietly rolling out a more consumer-focused, playful voice via new brand activations. In 2023, the company debuted a national advertising campaign called 'Long Live the Lazy,' which called on fans to reclaim so-called laziness and embrace 'JOMO' ('the joy of missing out'). It also unveiled ' The Decliner,' an AI -powered prototype chair that helped the reclinee draft text messages to cancel their plans. On opening weekend, the Decliner drove a 50% increase in sales and a 200% increase in web traffic. In 2024, the company followed up with ' Decline to Recline,' an ad campaign poking fun at people who recline their seats on airplanes (and nudging offending passengers to use a La-Z-Boy at home instead). An accompanying petition to end airplane recliners, which La-Z-Boy published on its website, received more than 400,000 signatures. Through these campaigns, Hoskins says, La-Z-Boy showed up differently in the cultural zeitgeist than it ever had before, which 'opened people's eyes to the new La-Z-Boy.' From corporate to cozy Once the La-Z-Boy team identified this strategy, there was another issue: The 'new La-Z-Boy'—intended to encapsulate comfort, warmth, and a stress-free space—was deeply detached from how the branding actually looked. 'We did a fair amount of consumer research that showed it felt sterile, it felt cold, it felt corporate, and it didn't match the experience of sitting in a La-Z-Boy chair,' Hoskins says. La-Z-Boy's then-logo, first introduced in 2003, featured a thin sans-serif wordmark with a small pop of icy blue. Diana Quenomoen, design director at Colle McVoy, says the wordmark felt like something you might find in a healthcare or tech field, not a piece of furniture you'd want to sink into. Quenomoen's team turned to La-Z-Boy's 1927 script logo for inspiration. They drew a new version of the mark, character by character, that takes some cues from the original—like the connective flourishes and the Z appearing to be cradled between the other characters—while also putting a modern spin on the script concept. Another core inspiration was the furniture itself, which shows in the plumpness of the letters and the wordmark's italicized setting, meant to mimic a chair's recline. 'From the beginning, one of our team members pointed to this logo and said, 'I want to [lie] on that,'' Hoskins says. 'We were like, 'Oh, we're hitting on something here.'' The new identity also includes a warmer palette of burnt vermilion and soft celadon green, a custom monogram featuring the script letters LZB, and a wave-like color-blocked pattern. All of Colle McVoy's work was collected in a new internal style guide that's meant to help La-Z-Boy maintain brand consistency as it works to expand its network of company-owned stores. The rebrand will begin rolling out digitally and via advertising channels on July 29. Physical storefronts will be updated over the next few years. 'It's really exciting to see how we've captured what the brand is through the identity, and how that can inspire new thinking about shopper experiences,' Hoskins says.
CBS News
20-06-2025
- Entertainment
- CBS News
National Park Service site in Monroe hosts grand opening at new visitor center
An official celebration of a major update to River Raisin National Battlefield Park takes place Saturday and Sunday in Monroe, Michigan. The park retells and interprets the January 1813 battles of the War of 1812 that were fought in Southeast Michigan and the historical context of the times. The battles were a victory for Tecumseh's Confederation and the British, and a significant defeat for the Americans. The Battlefield was originally part of the Monroe County park system, and was transferred in 2010 to the National Park Service. The visitor center moved in recent years from its original location on East Elm Avenue near I-75 to an existing building a half-mile away at 333 North Dixie Highway. With the move to a larger venue and significant renovations to what was once an ice sports arena, the education center's historical displays were expanded and updated. One of the exhibits at River Raisin National Battlefield Park in Monroe, Michigan, is this Native American long home replica, on display inside the visitor center. Paula Wethington "With the help of La-Z-Boy, the State of Michigan, the Wyandotte Nation, the The City of Monroe, Michigan and many partners, donors and members of the Foundation, we are ready to share the stories of the River Raisin with the public," the River Raisin National Battlefield Park Foundation posted on its social media. "Join us for a celebration for our community and its support for creating a world-class education center." The current exhibits focus on Great Lakes history, Native Americans, the Battles of the River Raisin and the early 1800s French Town settlement in what is now Monroe. Annual events include a POW-MIA Day ceremony and flag display, French Noel and the Battles of the River Raisin commemoration. The Grand Opening events begin with a ticketed gala Friday night, and will continue Saturday and Sunday. The visitor center will be open to the public from 9 a.m. to 5 p.m. Saturday with a ceremony at 10 a.m., ribbon cutting at noon, and performances by the 126th U.S. Army Band Saxophone and Piano Jazz Duet in the afternoon. The center also will be open to the public 9 a.m. to 5 p.m. Sunday, with the La Compagnie Musical Dance Troupe giving a performance in the afternoon.
Yahoo
20-06-2025
- Business
- Yahoo
LZB Q1 Deep Dive: Retail Expansion and Supply Chain Initiatives Shape Outlook
Furniture company La-Z-Boy (NYSE:LZB) reported Q1 CY2025 results topping the market's revenue expectations , with sales up 3.1% year on year to $570.9 million. The company expects next quarter's revenue to be around $500 million, close to analysts' estimates. Its non-GAAP profit of $0.92 per share was 1.1% below analysts' consensus estimates. Is now the time to buy LZB? Find out in our full research report (it's free). Revenue: $570.9 million vs analyst estimates of $558.6 million (3.1% year-on-year growth, 2.2% beat) Adjusted EPS: $0.92 vs analyst expectations of $0.93 (1.1% miss) Revenue Guidance for Q2 CY2025 is $500 million at the midpoint, roughly in line with what analysts were expecting Operating Margin: 5.2%, down from 9.1% in the same quarter last year Market Capitalization: $1.56 billion La-Z-Boy's first quarter delivered sales growth amid a challenging consumer environment, with management highlighting the benefits of new store openings and acquisitions, particularly in the Retail segment. CEO Melinda Whittington credited the company's 'vertically integrated model and agile supply chain' for enabling continued growth despite persistent economic and industry volatility. Management noted that while company-owned store sales rose, same-store sales declined, reflecting broader consumer caution. The quarter's performance was further shaped by targeted pricing actions and swift operational responses to supply chain disruptions, including storm-related factory damage. CFO Taylor Luebke emphasized that improved sourcing and lower input costs helped offset tariff impacts and cost pressures. Looking forward, La-Z-Boy's outlook is anchored by ongoing expansion of its direct-to-consumer retail footprint and a multiyear project to redesign its distribution and home delivery network. Management anticipates that continued consumer uncertainty will weigh on near-term demand, particularly impacting the Joybird online channel, but expects long-term benefits from operational investments and a refreshed brand identity. Whittington described the upcoming distribution redesign as key to supporting growth, saying it will 'cut time out of the system and less miles on product as well.' The company remains focused on agility in responding to trade policy shifts and cost inflation while maintaining prudent investment in both new stores and supply chain capabilities. Management attributed the quarter's performance to retail network growth, improved supply chain execution, and targeted pricing actions to mitigate tariff and cost pressures. Retail network expansion: New store openings and acquisitions in the company-owned Retail segment drove growth, with 11 new stores and 7 acquisitions completed over the past year. Management emphasized that direct ownership allows La-Z-Boy to control the end-to-end consumer experience and collect valuable customer insights, supporting its Century Vision strategy. Supply chain agility: The company's predominantly U.S.-based manufacturing footprint and Mexican cut-and-sew facilities allowed it to minimize tariff exposure and maintain speed to market. Management cited its quick recovery from a storm-damaged Arkansas facility as evidence of operational resilience, with only a one-week production loss. Joybird channel divergence: While physical Joybird stores showed relative strength, online sales for this segment declined. Management attributed this to greater macroeconomic sensitivity among Joybird's younger, urban customer base and is adjusting store growth plans accordingly, with 3–4 new stores planned for the coming year. Margin management: Adjusted operating margins were supported by lower input costs and improved sourcing, but offset by higher fixed costs from new store openings and incremental tariff expenses. CFO Luebke noted that continued investment in distribution redesign is expected to provide further margin benefits over time. Brand strategy evolution: La-Z-Boy is set to launch a refreshed brand identity, with updated look and tone to increase relevance in digital channels. This is part of a broader effort to modernize the brand and reach new audiences, building on the success of its 'Long Live the Lazy' campaign. La-Z-Boy's outlook is shaped by a cautious consumer environment, continued investment in retail and supply chain, and efforts to manage industry-wide cost pressures. Distribution network overhaul: The multiyear redesign of La-Z-Boy's distribution and home delivery system is expected to drive efficiency gains, reduce warehouse overhead, and improve delivery times. Management believes this project is essential for reaching long-term double-digit wholesale margins and supporting a growing retail footprint. Tariff and trade policy management: The company is actively monitoring global trade developments and leveraging its U.S.-centric supply chain to mitigate new tariffs. Targeted, nominal pricing actions and inventory strategies are in place to offset cost impacts, but management remains cautious about potential effects on consumer demand. Retail expansion and brand refresh: Continued investment in new company-owned stores and the upcoming brand identity update are central to management's growth strategy. The ability to control the in-store experience and adapt marketing for digital audiences is seen as key to gaining share in a fragmented market, though higher fixed costs and cautious consumers may present near-term challenges. In the coming quarters, the StockStory team will be watching (1) the pace and effectiveness of La-Z-Boy's distribution network redesign, (2) ongoing performance of new and acquired company-owned stores, and (3) the impact of the brand refresh on customer engagement and sales trends. Additionally, developments in tariff policy and the trajectory of consumer demand will be pivotal in assessing the company's execution against its Century Vision strategy. La-Z-Boy currently trades at $38.19, down from $38.79 just before the earnings. Is the company at an inflection point that warrants a buy or sell? Find out in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today.
Yahoo
19-06-2025
- Business
- Yahoo
La-Z-Boy Projects Sequential Decline in Fiscal First-Quarter Sales Amid Continued Industry Volatility
La-Z-Boy (LZB) projected lower fiscal first-quarter sales compared with the prior three-month period Sign in to access your portfolio
Yahoo
19-06-2025
- Business
- Yahoo
La-Z-Boy Inc (LZB) Q4 2025 Earnings Call Highlights: Strong Sales Growth Amid Economic Challenges
Consolidated Delivered Sales: $571 million for Q4, up 3% year-over-year; $2.1 billion for the fiscal year, up 3% year-over-year. Retail Segment Sales: Increased 8% in Q4, driven by new stores and acquisitions. Wholesale Segment Sales: Grew 2% in Q4, led by core North American business. Operating Cash Flow: $187 million for the fiscal year, up 18% year-over-year. Adjusted Operating Income: $54 million for Q4, up 3% year-over-year; $161 million for the fiscal year, up 1% year-over-year. Adjusted Operating Margin: 9.4% for Q4; 7.6% for the fiscal year. Adjusted Diluted EPS: $0.92 for Q4; $2.92 for the fiscal year. Cash and No Debt: $328 million in cash with no external debt. New Store Openings: 11 new company-owned stores opened during the fiscal year. Shareholder Returns: $113 million returned through share repurchases and dividends, including a 10% dividend increase. Joybird Sales: Decreased 21% in Q4; sales increased 5% for the fiscal year. Same-Store Sales: Written same-store sales for the retail segment decreased 5% in Q4. Warning! GuruFocus has detected 3 Warning Sign with LZB. Release Date: June 18, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. La-Z-Boy Inc (NYSE:LZB) reported strong fourth-quarter results with consolidated delivered sales of $571 million, a 3% increase compared to the previous year. The retail segment sales grew by 8%, driven by new stores and acquisitions, highlighting the success of their direct-to-consumer growth strategy. La-Z-Boy Inc (NYSE:LZB) opened its 200th company-owned store, now owning 55% of the total network, which strengthens their market presence. The company generated $187 million in operating cash flow for the year, an 18% increase from the prior year, and returned $113 million to shareholders through share repurchases and dividends. La-Z-Boy Inc (NYSE:LZB) maintains a strong balance sheet with $328 million in cash and no external debt, providing financial stability and flexibility for future investments. Written same-store sales for the retail segment decreased by 5% compared to the prior year's fourth quarter, indicating challenges in maintaining consistent sales growth. Joybird, a digitally native brand under La-Z-Boy Inc (NYSE:LZB), experienced a 21% decrease in written sales for the quarter, reflecting the impact of rising macroeconomic uncertainty on consumer behavior. The wholesale segment faced challenges with a significant customer transition in the international business, impacting margins and requiring strategic adjustments. The effective tax rate increased to 31.4% for the fiscal year, primarily due to a nondeductible goodwill impairment charge related to the UK business. The company anticipates continued challenges in the macroeconomic environment, which could impact consumer spending and overall industry growth in the near term. Q: Can you discuss the potential for the wholesale segment to reach a 10% margin and the factors contributing to this goal? A: Taylor Luebke, Senior Vice President, Chief Financial Officer, explained that achieving a 10% margin in the wholesale segment is part of their long-term Century Vision strategy. This includes a distribution and home delivery redesign project, which is expected to contribute significantly. However, reaching this goal also depends on a healthy industry environment, particularly a robust housing market. Q: Why is La-Z-Boy undertaking a distribution network redesign now? A: Melinda Whittington, President, Chief Executive Officer, Director, stated that the redesign is driven by recent acquisitions and the need for efficiency. The project aims to reduce warehouse overhead, optimize routes, and improve delivery experiences, ultimately enhancing service levels and reducing costs. Q: How did La-Z-Boy's sales outperform expectations despite a challenging start to the quarter? A: Melinda Whittington noted that despite a tough February, the company executed well, focusing on consumer satisfaction and business partner collaboration. This led to stronger-than-expected sales by the end of the quarter, even amid increased macroeconomic challenges. Q: What impact did tariffs have on La-Z-Boy's financials, and how is the company addressing this? A: Taylor Luebke mentioned that while tariffs did have an impact, La-Z-Boy mitigated this through nominal pricing actions and strategic inventory management. The company remains agile to respond to any changes in trade policy, focusing on minimizing consumer impact. Q: What is the long-term plan for Joybird stores, considering the current economic challenges? A: Melinda Whittington expressed confidence in Joybird's potential, noting plans to open three to four new stores this year. While the brand is still young and faces challenges, there is potential to exceed the initial goal of 25 stores, with a focus on prudent growth and optimizing the consumer experience. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
