La-z-boy Incorporated · NYSE:LZB
La-z-boy — Investor Presentation
23 slides from La-z-boy's investor presentation
Slide 1: Investor Presentation
INCORPORATED Investor Presentation
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains statements that relate directly or indirectly to our future business, events or financial performance that may constitute forward-looking statements. Forward-looking statements generally contain words such as “aim,” “anticipates,” “believes,” “co
Slide 3: La-Z-Boy Incorporated Mission, Purpose, & Values
La-Z-Boy Incorporated Mission, Purpose, & Values Century Vision In our hundredth year, we are investing in the future guided by Century Vision as we position the company for growth in a dynamic marketplace through 2027 and beyond. Mission Purpose Values Our mission is to lead the global COURAGE furn
Slide 4: La-Z-Boy Incorporated Highlights
La-Z-Boy Incorporated Highlights Heritage in Manufacturing with expanding penetration in Retail and disproportionate DTC growth Key Highlights (LTM1) $2.1B 379 Sales La-Z-Boy Stores2 6.9% ~50% Adjusted Direct to Consumer Operating Margin (DTC) Mix $3.00 6 Adjusted EPS Manufacturing Locations in N.A.
Slide 5: Why Invest In La-Z-Boy Incorporated (NYSE: LZB)
Why Invest In La-Z-Boy Incorporated (NYSE: LZB) Best in class management leveraging iconic brand & unique footprint to drive market share and shareholder value 1 Century Vision strategic roadmap through 2027 and beyond 2 Iconic brand with leading market share in fragmented industry 3 Competitive adv
Slide 6: Century Vision Strategic Roadmap Through 2027 And Beyond
1 Century Vision Strategic Roadmap Through 2027 And Beyond Grow 2x the industry through growth in our consumer brands and deliver double-digit operating margins over long term Expand La-Z-Boy Brand Reach • Leverage iconic brand and compelling comfort message • Reinvigorate brand with consumer focus,
Slide 7: Century Vision Proof Points
Century Vision Proof Points Since Launching Century Vision in 2021 R E TA I L 234 ~$3,000 ~$8,900 ~$4.5M +52 company- average design average store Independent owned stores ticket average ticket volume La-Z-Boy store +47% +32% +53% +13% acquisitions1 S T R AT E G I C P A R T N E R S +74 500+ new deal
Slide 8: Expanding La-Z-Boy Brand Reach
Expanding La-Z-Boy Brand Reach Century Vision initiated in 2021 with an exciting opportunity to expand the brand reach of La-Z-Boy Depth Breadth Growing with existing consumers by Expanding to new audiences by differentiating comfort delivering quality and customization Initial Success INCREASED
Slide 9: Retail Is The Key Growth Driver
Retail Is The Key Growth Driver La-Z-Boy Store Network Continues to Grow Acquisitions Remain a Consistent Catalyst1,2 450+ 15 366 378 325 11 5-10/ann 110 203 230 8 8 7 Company-owned 215 163 148 Independent 1 FY2015 FY2025 FY2026 Long term FY2022 FY2023 FY2024 FY2025 FY2026 FY2027+ DTC Led by Retail
Slide 10: Diverse Wholesale Revenue Base
Diverse Wholesale Revenue Base ▪ La-Z-Boy Stores – Company Owned Illustrative Wholesale Revenue Mix1,2 – Growing centerpiece of retail strategy with 234 company owned and operated stores (from 159 in FY2021) ▪ La-Z-Boy Stores – Independent Multi-Branded LZB Stores - – 145 independently owned and ope
Slide 11: Century Vision Double-Digit Operating Margin Algorithm
Century Vision Double-Digit Operating Margin Algorithm Creating our own momentum across segments; return of normalized industry growth enables objectives Retail Adjusted Operating Margins Century Vision Target 16.5% Mid-teens Retail. Expanding scale and margin profile of 230+ company- owned stores w
Slide 12: U.S. Based Supply Chain With Heritage In Manufacturing
U.S. Based Supply Chain With Heritage In Manufacturing M AN U FAC T U R I N G Over 95% Production in the U.S.1 ▪ Includes facilities in Dayton, TN; Neosho, MO; and Siloam Springs, AR D E L I V E RY 4-6 Weeks Custom Order ▪ Industry leading speed of delivery enabled by North American supply chain. ▪
Slide 13: Iconic Brand With Leading Market Share In Fragmented Industry
2 Iconic Brand With Leading Market Share In Fragmented Industry Leading brand reach provides a strong foundation for long-term growth La-Z-Boy consistently a leading brand for interest in new furniture purchases1 IKEA Wayfair Ashley 1 Heritage and iconic brand leadership in reclining chairs La-Z-Boy
Slide 14: Competitive Advantages From Vertical Integration With N.A. Based Supply Chain
3 Competitive Advantages From Vertical Integration With N.A. Based Supply Chain La-Z-Boy Incorporated offers an attractive financial profile and differentiated experience through its integrated model Vertical Integration Personalization at Scale Growth Full ownership of: Unique selling proposition:
Slide 15: Growing And Well Positioned To Capture Favorable Industry Dynamics
4 Growing And Well Positioned To Capture Favorable Industry Dynamics Over Long Term Furniture/ Home Furnishings is a large and growing market with ~$135B in sales and a solid ~3% historical growth rate1 Structural Housing Shortage2 LZB Revenue Growth Outpaces Industry1 + Estimated 4-7 million unit h
Slide 16: Seasoned Management Team With Deep Consumer Expertise
5 Seasoned Management Team With Deep Consumer Expertise Melinda Whittington Taylor Luebke Board Chair, President and CEO SVP and CFO Rob Sundy Tj Linz Mike Leggett President, Retail President, Wholesale Brands SVP and CSCO 16
Slide 17: Strong Balance Sheet With Disciplined Capital Allocation
6 Strong Balance Sheet With Disciplined Capital Allocation Capital allocation objective is to invest operating cashflow at 50/50; $204m cash flow from operations in FY26, +9% YoY Capital Allocation Over Last Five Years1 57% • New stores, remodels, Cash reinvested in • $163M of dividends over last an
Slide 18: Strong Financial Performance
Strong Financial Performance Track record of growth and value creation over the last six years amidst significant disruption Sales, Operating Margin, and Earnings Per Share Capital Allocation: Business Investments And Returns To Shareholders $300 ($ in millions) 200% 5-Yr Sales CAGR 4% 180% $2,357 $
Slide 19: Sustainability And Social Impact: Ensuring Lasting Comfort
Sustainability And Social Impact: Ensuring Lasting Comfort FY 2026 Impact Highlights: By the Numbers AdAge 19,463 Reduced overall West Coast square footage by 90% Top Five Rebrands of 2025 TranZform continuous improvement actions ~20% of electricity use offset with green energy through a Time with o
Slide 20: Appendix
Appendix Fking
Slide 21: Adjusted Financial Measures
Adjusted Financial Measures • In addition to the financial measures prepared in accordance with accounting principles generally accepted in the United States (“GAAP”), this presentation also includes adjusted financial measures. Management uses these adjusted financial measures when assessing our on
Slide 22: Reconciliation of GAAP to Adjusted Financial Measures
Reconciliation of GAAP to Adjusted Financial Measures % of % of % of % of % of % of % of (Amounts in thousands) FY21 Sales FY22 Sales FY23 Sales FY24 Sales FY25 Sales FY26 Sales LTM Sales GAAP operating income (loss) Wholesale segment $ 134,312 10.3% $ 134,013 7.6% $ 115,215 6.8% $ 99,373 6.9% $ 82,
Slide 23: Reconciliation of GAAP to Adjusted Financial Measures
Reconciliation of GAAP to Adjusted Financial Measures % of % of % of % of % of % of % of (Amounts in thousands) FY21 Sales FY22 Sales FY23 Sales FY24 Sales FY25 Sales FY26 Sales LTM Sales GAAP operating income $ 136,736 7.9% $ 206,756 8.8% $ 211,439 9.0% $ 150,796 7.4% $ 135,837 6.4% $129,207 6.1% $