La-Z-Boy Inc (NYSE: LZB)

La-Z-Boy Incorporated is a leading global producer of reclining chairs and one of the largest manufacturers and distributors of residential furniture in the United States. The company designs, manufactures, markets, imports, exports, distributes and retails upholstery and casegoods furniture under the La‑Z‑Boy, England, Kincaid and Joybird tradenames. It also operates the La‑Z‑Boy Furniture Galleries retail network, the third largest single‑branded furniture retailer in the United States.

La-Z-Boy Incorporated generates revenue primarily from the sale of upholstered furniture, casegoods (wood) furniture and related home‑furnishing accessories. Revenue is earned through direct‑to‑consumer channels including company‑owned La‑Z‑Boy Furniture Galleries stores, Joybird small‑format stores and the websites www.la-z-boy.com and www.joybird.com, as well as through wholesale sales to independent furniture retailers, major dealers and operators of La‑Z‑Boy Comfort Studio and branded space locations.

The company operates through the following segments: Retail and Wholesale.

• Retail: The Retail segment sells upholstered furniture, casegoods and home furnishing accessories to end consumers through company-owned La-Z-Boy Furniture Galleries stores, La-Z-Boy Comfort Studio locations within independent retailers, branded space locations and the company's websites www.la-z-boy.com and www.joybird.com.

• Wholesale: The Wholesale segment manufactures and imports upholstered and casegoods furniture and sells to La-Z-Boy Furniture Galleries stores, operators of La-Z-Boy Comfort Studio locations, branded space locations, England Custom Comfort Center locations, major dealers and a wide range of other independent retailers.

La-Z-Boy Incorporated holds a strong position in the residential furniture industry as a leading global producer of reclining chairs and one of the largest U. S. manufacturers and distributors of residential furniture by sales volume. Its La-Z-Boy Furniture Galleries network ranks as the third largest retailer of single‑branded furniture in the United States. Competitive advantages include strong brand recognition, a reputation for comfort and quality, extensive styling and customization options, in‑house design services, a focus on innovation, reliable customer service, dedicated dealer support and efficient on‑time delivery. The company maintains a proprietary distribution network that helps secure shelf space and market presence, and it competes primarily in the mid‑to‑upper‑mid price point.

La-Z-Boy Incorporated serves a diverse customer base that includes end consumers who purchase through its retail stores and websites, third‑party furniture retailers, independent dealers, major retailers and operators of La‑Z‑Boy Comfort Studio and branded space locations. The company’s products are sold throughout the United States and Canada and in approximately 50 other countries, including the United Kingdom, Australia, China and New Zealand.