La-Z-Boy Profits Top Out Over $5 Million

Posted by slone on June 20th, 2009 at 07:00am

In spite of almost a 23 percent decrease in sales, La-Z-Boy still reported a profit of over $5 million for the quarter that ended in April. The case goods and upholstery giant hadn’t seen a quarterly profit in over a year with the decline in the economy.

President and CEO, Kurt Darrow attributes the increase in sales to the significant changes and actions taken in the companies cost structure over the last year. He also says that an ongoing execution of some strategic initiatives will result in the companies sales continuing to increase.

The last quarter that the company showed a profit was the quarter ending in January of last year. But, the numbers aren’t as good as they sound, despite the profit margin the company still reported a net loss of over $121 million for the fiscal year.

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