Short answer
LA-Z-BOY INC (LZB) filed its fiscal 2026 10-K annual report with the SEC on Jun 16, 2026. It reported revenue of $2.1B (+0.8% year over year) and net income of $102M.
- Top risk flagged: Tariff risk from U.S. import duties on goods/materials from China and other countries impacting cost and margins
FY2026 key financial metrics · XBRL
- Revenue
- $2.1B
- +0.8% YoY
- Net income
- $102M
- +2.4% YoY
- Operating margin
- 6.1%
- −0.4 pp YoY
- Gross margin
- 44.0%
- +0.1 pp YoY
- EPS (diluted)
- $2.47
- +5.1% YoY
- ROE
- 9.7%
- −0.0 pp YoY
- Operating cash flow
- $204M
- +9.0% YoY
Source: XBRL data from the LA-Z-BOY INC (LZB) FY2026 10-K on SEC EDGAR. USD.
LA-Z-BOY INC FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Leading global producer of reclining chairs and major U.S. manufacturer/distributor of residential furniture under multiple brand names
- Strategic shift: Disposal of significant portion of Casegoods wholesale business completed in early fiscal 2027, including sale of Kincaid and American Drew wholesale assets
- Supply chain transformation: Reduced U.S. distribution centers from 15 to 9 in 2026, ongoing multi-year project to create 3 centralized hubs with enhanced delivery efficiency
- Workforce change: Employee count decreased from ~10,600 to ~10,200 due to Casegoods sale, UK manufacturing closure, and Mexico reductions, partially offset by retail growth
- Noteworthy fact: Eligible for refund of certain tariffs following 2026 U.S. Supreme Court ruling, though no refund recorded yet due to legal uncertainties
Management Discussion & Analysis
- Revenue $2.13B, up 0.8% YoY; Retail sales $950.7M (+5.8%), Wholesale sales flat at $1.04B (+0.2%)
- Operating margin 6.1% vs 6.4% YoY; Retail margin 11.4% vs 11.7%, Wholesale margin 7.4% vs 5.6%
- Best segment: Wholesale with 34% operating income growth and margin expansion of 1.8 pts to 7.4%; worst segment: Corporate and Other loss increased 72.7%
- Operating cash flow $204.1M (+$16.8M); Capex $76.3M; Acquisitions $86.4M; Share repurchases $47.3M; Dividends $37.9M
- 2027 Capex forecast $90-110M; new $300M no-expiration share repurchase authorized; UK manufacturing closed; goodwill impairment $20M Joybird
Risk Factors
- Tariff risk from U.S. import duties on goods/materials from China and other countries impacting cost and margins
- Supply chain exposure to three polyurethane foam suppliers, vulnerable to delays from weather, disasters, or health crises
- Cybersecurity incidents, including AI-enhanced attacks, posing data breach risks with potential regulatory penalties under GDPR
- Competitive risk from online and direct-to-consumer retailers, including Joybird, intensifying pressure on market share and pricing
- Credit risk from wholesale customers with payment terms up to 60 days, facing cash flow issues, risking delayed or uncollectible receivables
Generated from the filing text; verify against the original. How to read a 10-K
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