NYSE:LZBConsumer Durables
La Z Boy (LZB) Stock Price Sinks As Margin Compression Deepens
La-Z-Boy just reminded investors that comfort stocks are not always comfortable. The share price dropped 16.95% to US$33.91 the first trading day after results, even though the headline was not a collapse in demand but a sharp earnings squeeze. Fiscal Q1 swung from a recent quarterly profit to a small loss of US$2.3 million on US$475.7 million of revenue, and adjusted operating margin compressed to 3.9%. For a company widely viewed as a steady cash generator, that margin pressure is what hit...