La-Z-Boy posts $8.7M loss as sales drop 12.6%

August 2007
Furniture/Today;8/20/2007, Vol. 31 Issue 49, p70
Trade Publication
The article reports on the financial performance of furniture manufacturer La-Z-Boy Inc. in Monroe, Michigan in the first quarter ended July 28, 2007. The company lost $8.7 million, or 17 cents per share as sales dropped 12.6% from the comparable period in 2006. According to president and chief executive officer (CEO) Kurt Darrow, the company expects results to improve in future quarters and is sticking with its forecast of a 5% to 10% sales decline for the full fiscal year.


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