La-Z-Boy Incorporated reported $2.109 billion in consolidated sales for fiscal 2025, alongside a 366-store Furniture Galleries network in the United States and Canada. These La-Z-Boy statistics cover fiscal-year sales, profitability, retail reach, workforce, manufacturing-related operations, cash, leases and acquisitions; fiscal years end on different Saturdays, and fiscal 2022 contained 53 weeks while fiscal 2023–2025 contained 52 weeks.
Key La-Z-Boy Statistics
The following highlights span company scale, operating performance and distribution reach:
- $2.109 billion in consolidated sales was reported by La-Z-Boy Incorporated for fiscal 2025 across its consolidated operations.
- Fiscal 2025 sales increased 3% from fiscal 2024 for La-Z-Boy Incorporated.
- $2.349 billion in consolidated sales was reported for fiscal 2023 across La-Z-Boy Incorporated’s consolidated operations.
- $1.0569 billion of external sales came from the Wholesale segment in fiscal 2025.
- $898.4 million in sales came from the company-owned Retail segment in fiscal 2025.
- $135.8 million of operating income was reported by La-Z-Boy Incorporated in fiscal 2025.
- A 6.4% operating margin was reported for consolidated operations in fiscal 2025.
- $105.4 million of operating income was reported by the Retail segment in fiscal 2025.
- A 5.6% operating margin was reported by the Wholesale segment in fiscal 2025 using total segment sales.
- 366 Furniture Galleries stores operated across the United States and Canada at the end of fiscal 2025.
- 203 Furniture Galleries stores were company-owned at the end of fiscal 2025.
- More than 500 Comfort Studio locations formed part of La-Z-Boy’s branded distribution network at the end of fiscal 2025.
- Approximately 10,600 full-time-equivalent employees worked for La-Z-Boy worldwide at the end of fiscal 2025.
- $328.4 million in cash and cash equivalents was held at April 26, 2025.
- 2.0 million shares were repurchased for $77.9 million during fiscal 2025.
- $20.6 million was recognized as a United Kingdom goodwill impairment charge in the fourth quarter of fiscal 2025.
- $11.4 million was paid for two Florida Furniture Galleries stores and one distribution center on September 10, 2024.
Contents
- Company scale and La-Z-Boy sales trends
- Profit, margins and operating results
- Furniture Galleries stores and distribution reach
- Workforce, brands and manufacturing footprint
- Cash flow, capital allocation and financial position
- Acquisitions, backlog and operating changes
Company Scale and La-Z-Boy Sales Trends
La-Z-Boy’s reported sales moved through a high fiscal-2022 and fiscal-2023 base before declining in fiscal 2024 and recovering modestly in fiscal 2025. The company says the fiscal 2024 comparison was affected partly by delivering roughly $300 million of backlog in fiscal 2023; backlog means written orders not yet delivered, while delivered sales, same-store sales and consolidated sales measure different stages or populations.
| Fiscal period | Consolidated sales | Measurement note |
|---|---|---|
| Fiscal 2022 | $2.357 billion | 53 weeks ended April 30, 2022 |
| Fiscal 2023 | $2.349 billion | 52 weeks ended April 29, 2023 |
| Fiscal 2024 | $2.047 billion | 52 weeks ended April 27, 2024 |
| Fiscal 2025 | $2.109 billion | 52 weeks ended April 26, 2025 |
Source: La-Z-Boy Incorporated Form 10-K for fiscal year ended April 26, 2025 and La-Z-Boy Incorporated Form 10-K for fiscal year ended April 27, 2024.
Fiscal 2025 consolidated sales were $62.2 million, or 3%, higher than fiscal 2024. The Wholesale segment recorded $1.0569 billion of external sales, while total Wholesale sales including $422.9 million of intersegment sales were $1.4798 billion.
The company-owned Retail segment generated $898.4 million in fiscal 2025 sales, an increase of 5.1% from fiscal 2024. That increase included acquisitions and store expansion and was partly offset by lower delivered same-store sales.
Joybird, included within Corporate and Other rather than the Retail or Wholesale reportable segments, contributed $146.1 million in fiscal 2025 sales. External and intersegment sales should not be combined as though they represented the same consolidated-sales measure, because consolidated reporting eliminates intersegment activity.
La-Z-Boy Profit, Margins and Operating Results
Fiscal 2025 operating income was $135.8 million, producing a 6.4% consolidated operating margin. Fiscal 2024 operating income was $150.8 million and the operating margin was 7.4%, so the fiscal 2025 margin was 100 basis points lower.
| Measure | Fiscal 2024 | Fiscal 2025 | Scope |
|---|---|---|---|
| Operating income | $150.8 million | $135.8 million | Consolidated GAAP |
| Operating margin | 7.4% | 6.4% | Consolidated operations |
| Retail operating margin | 13.1% | 11.7% | Retail segment |
| Wholesale operating margin | 6.9% | 5.6% | Wholesale total sales |
Source: La-Z-Boy Incorporated Form 10-K for fiscal year ended April 26, 2025.
The company reported an 80-basis-point increase in fiscal 2025 gross margin compared with fiscal 2024, while SG&A expense as a percentage of sales increased 80 basis points. These changes help explain why higher consolidated sales did not translate into a higher operating margin.
Retail operating income was $105.4 million, with an 11.7% segment operating margin in fiscal 2025 versus 13.1% in fiscal 2024, a 140-basis-point decrease. Wholesale operating income was $82.2 million, and its 5.6% margin was calculated using total segment sales including intersegment sales; the fiscal 2024 Wholesale margin was 6.9%, down 130 basis points by fiscal 2025.
Two non-cash United Kingdom impairment charges were recorded in the fourth quarter of fiscal 2025: $20.6 million for goodwill and $2.1 million for long-lived assets. The charges related to the United Kingdom wholesale and manufacturing reporting unit and operations.
La-Z-Boy Furniture Galleries Stores and Distribution Reach
At the end of fiscal 2025, the La-Z-Boy Furniture Galleries network had 366 stores in the United States and Canada. La-Z-Boy owned 203 of them, while the remaining stores were independently owned and operated.
The company-owned share reached 55% of the network, up from 44% over the five-year period ending in fiscal 2025. The company does not provide an annual series for each year in that five-year change.
- The network opened 15 new Furniture Galleries stores during fiscal 2025.
- The network relocated or remodeled 29 stores during fiscal 2025; these actions are reported together.
- Management planned 13 to 18 new Furniture Galleries stores for fiscal 2026 in the United States and Canada.
- Management planned to relocate or remodel 20 to 25 Furniture Galleries stores in fiscal 2026 in the United States and Canada.
The fiscal 2026 figures are management plans, not observed outcomes. They should not be read as completed openings or renovations.
La-Z-Boy also reported more than 500 Comfort Studio locations and more than 500 La-Z-Boy branded-space locations at the end of fiscal 2025. These are approximate thresholds rather than exact counts, and they describe different branded distribution formats from the Furniture Galleries store total.
North American Furniture Galleries and Comfort Studio locations represented approximately 7.7 million square feet of proprietary floor space. Outside the United States and Canada, La-Z-Boy had approximately 2.6 million square feet of branded-product floor space and approximately 1,900 other dealers sold La-Z-Boy products.
Kincaid and England had dedicated proprietary in-store programs in 662 outlets, representing approximately 1.9 million square feet. Those outlets and floor-space figures apply to the Kincaid and England programs rather than to the La-Z-Boy Furniture Galleries store count.
La-Z-Boy Workforce, Brands and Manufacturing Footprint
La-Z-Boy employed approximately 10,600 full-time-equivalent employees worldwide at the end of fiscal 2025, approximately 400 more than the company-reported fiscal 2024 count. The figures are approximate company-reported counts rather than a separately audited headcount series.
| Business area | Approximate employees | Period and geography |
|---|---|---|
| Wholesale | 8,000 | End of fiscal 2025; segment allocation |
| Retail | 1,800 | End of fiscal 2025; segment allocation |
| Joybird | 500 | End of fiscal 2025; business allocation |
| Total La-Z-Boy | 10,600 | End of fiscal 2025; worldwide FTEs |
Source: La-Z-Boy Incorporated Form 10-K for fiscal year ended April 26, 2025.
The Wholesale segment accounted for approximately 8,000 employees, while the Retail segment accounted for approximately 1,800. Joybird had approximately 500 employees and operated 12 small-format urban stores in key urban markets during fiscal 2025.
These allocations describe company segments and businesses, not independent estimates of manufacturing employment. The broader operating footprint includes the United Kingdom wholesale and manufacturing operations referenced in the fiscal 2025 impairment charges, but the supplied figures do not provide a separate worldwide factory count.
La-Z-Boy Cash Flow, Capital Allocation and Financial Position
La-Z-Boy reported $328.4 million in cash and cash equivalents at April 26, 2025. This is a fiscal-year-end balance-sheet figure, not a fiscal-year cash-flow total.
During fiscal 2025, the company repurchased 2.0 million shares for $77.9 million under the board authorization. The supplied filing also reports operating and finance lease payment obligations of $568.1 million and $3.0 million, respectively, at April 26, 2025.
Lease payment obligations are contractual obligations and should not be treated as the current-period lease expense. Similarly, the year-end cash balance and the share-repurchase amount describe different dates or flows and should not be combined into an unsupported liquidity ratio.
The fiscal 2024 proxy reported $158.1 million of GAAP operating cash flow. It also reported fiscal 2024 diluted GAAP EPS of $2.83, with GAAP diluted EPS down 19% from fiscal 2023 and non-GAAP diluted EPS down 23% over the same comparison.
The GAAP and non-GAAP EPS changes are not directly comparable without the company’s reconciliation. The fiscal 2024 proxy is the source for these legacy operating and earnings measures, while the fiscal-year labels preserve the company’s stated comparison periods.
La-Z-Boy Acquisitions, Backlog and Operating Changes
La-Z-Boy expanded its company-owned retail footprint through several fiscal 2025 acquisitions:
| Date | Acquired assets | Consideration | Geography |
|---|---|---|---|
| July 22, 2024 | One Furniture Galleries store | $7.4 million | Davenport, Iowa |
| September 10, 2024 | Two stores and one distribution center | $11.4 million | Melbourne and Cocoa, Florida |
| January 16, 2025 | Two Furniture Galleries stores | $5.9 million | Toledo, Ohio |
| April 7, 2025 | Two Furniture Galleries stores | $5.7 million | Lansing and Portage, Michigan |
Source: La-Z-Boy Incorporated Form 10-K for fiscal year ended April 26, 2025.
The Florida transaction included buildings and land for both stores and the distribution center. The Toledo acquisition also included a building and land for one store, while the Michigan and Davenport consideration was inclusive of and subject to customary adjustments.
For fiscal 2024, the proxy reported six company-owned store openings and 11 independent-store acquisitions in the Retail segment. Openings and acquisitions are separate actions and may not equal net store growth.
The fiscal 2024 proxy also reported $2.83 in diluted GAAP EPS and a 19% year-over-year decrease from fiscal 2023. Non-GAAP diluted EPS decreased 23% over the same fiscal-year comparison, and the fiscal 2024 consolidated sales decline was reported as 13% from fiscal 2023.
That sales comparison partly reflected the delivery of a roughly $300 million backlog in fiscal 2023. Because written orders not yet delivered, written sales, delivered sales, same-store sales and consolidated sales refer to different measurement stages, backlog should not be treated as an additional sales figure or added to reported revenue.