Short answer
LA-Z-BOY INC (LZB) filed its fiscal 2025 10-K annual report with the SEC on Jun 17, 2025. It reported revenue of $2.1B (+3.0% year over year) and net income of $100M.
- Top risk flagged: GDPR data privacy regulation risk, with significant penalties for non-compliance affecting global operations
FY2025 key financial metrics · XBRL
- Revenue
- $2.1B
- +3.0% YoY
- Net income
- $100M
- −18.8% YoY
- Operating margin
- 6.4%
- −0.9 pp YoY
- Gross margin
- 43.9%
- +0.9 pp YoY
- EPS (diluted)
- $2.35
- −17.0% YoY
- ROE
- 9.8%
- −2.5 pp YoY
- Operating cash flow
- $187M
- +18.4% YoY
Source: XBRL data from the LA-Z-BOY INC (LZB) FY2025 10-K on SEC EDGAR. USD.
LA-Z-BOY INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Leading global producer of reclining chairs and residential furniture, with wholesale and retail segments including proprietary La-Z-Boy Furniture Galleries® stores
- New emphasis on retail expansion: Opened 15 new La-Z-Boy Furniture Galleries® stores and remodeled/relocated 29 stores in fiscal 2025; plans 13-18 new store openings in fiscal 2026
- Strategic focus on supply chain agility and sustainability: Strengthened US-Mexico supply chain under USMCA to minimize tariff impact and implemented sustainability initiatives including lean manufacturing
- Employee count increased to approximately 10,600 from 10,200, driven by manufacturing and retail growth
- Noteworthy backlog decrease to $119.5 million (13% decline) due to improved delivery lead times and operational efficiencies
Management Discussion & Analysis
- Revenue $2.11B, up 3.0% YoY (+$62.2M) driven by Retail acquisitions, new stores, Wholesale volume, and Joybird growth
- Operating margin 6.4% vs 7.4% (-100 bps), gross margin +80 bps, SG&A +80 bps; Retail margin 11.7% vs 13.1%, Wholesale margin 5.6% vs 6.9%
- Best performing segment Retail: sales $898.4M (+5.1%), operating income $105.4M; Worst segment Wholesale: sales $1.06B (+2.2%), operating income $82.2M (-17.3%)
- Cash flow: Operating +$187.3M (+$29.1M), Investing -$98.4M (capex $74.3M, acquisitions $29.5M), Financing -$102.6M (share repurchases $77.9M, dividends $35.0M)
- Outlook: Capex guidance $90-$100M for FY26; ongoing Retail expansion, continued stock repurchases; risks from tariff policy changes, UK goodwill impairment, and macroeconomic pressures
Risk Factors
- GDPR data privacy regulation risk, with significant penalties for non-compliance affecting global operations
- Geopolitical risk from tariffs on Chinese imports raising costs for raw materials and finished goods affecting U.S. margins
- Supply chain vulnerability from reliance on three polyurethane foam suppliers, susceptible to weather or health crisis delays
- Competitive risk from shift to online sales, challenging traditional retail channels and pressure from direct-to-consumer brands like Joybird
- Financial risk from credit facility covenants on leverage and coverage ratios, risking immediate debt repayment upon default
Generated from the filing text; verify against the original. How to read a 10-K
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