La-Z-Boy Reports Q4 and Full Year Results, Beats Expected EPS, Falls Short on Revenue
Manufacturer of upholstered recliners and other furniture La-Z-Boy (NYSE: LZB) reported its fiscal 2020 fourth quarter and full year results today, revealing it has beaten analyst predictions on some metrics and come in lower than expected on others. During the fiscal year's final quarter, La-Z-Boy saw the coronavirus pandemic cut deeply into its sales, slashing the total by -19.1% year over year as sales added up to just $367.3 million.
Though store and factory closures due to coronavirus took a heavy toll, the company has struggled with revenue for some time prior to the pandemic. According to Zacks Equity Research, La-Z-Boy has fallen short of analyst consensus revenue predictions for four straight quarters in a row. Its fourth quarter 2020 revenue is 6.16% below what Wall Street anticipated.
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Source Fool.com
