La-Z-Boy reports profit for quarter doubled
12/1/2011MONROE — La-Z-Boy Inc. reported a fiscal 2012 second-quarter profit Wednesday of $7.9 million, more than double its earnings for the same period a year earlier.
The Monroe furniture maker’s earnings, which equated to 15 cents a share, compared with $3.9 million, or 7 cents a share, a year ago. Sales for the quarter, which ended Oct. 29, were $307.7 million, up nearly 5 percent from $293 million a year ago.
La-Z-Boy said its earnings were bolstered by improved sales in its upholstery and retail segments. Sales in upholstery increased 7 percent to $241.4 million, and sales at its retail stores rose 34 percent to $52.7 million.