La-Z-Boy Incorporated (LZB) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

in written same-store sales trends over the last two quarters. While consumer trends remain challenging for our industry, we continue to be agile and hone our execution. We saw our strongest results of the second quarter in October, where we achieved positive written same-store sales. However, results in early November remain mixed. And for Joybird, total written sales for the quarter were a positive 1% increase versus a year ago, demonstrating significant improvement versus the prior two quarters and driven by strength in retail store performance. We also have made substantial progress against our strategic initiatives, focusing on our core vertically integrated North American upholstery business. We completed our 15-store acquisition in the Southeast US region, expanding our ownership of important growing markets. We announced the planned exit of non-core businesses, including Kincaid Case Goods, American Drew Case Goods, and Kincaid Upholstery. And we announced the proposed closure of our UK manufacturing facility. Notably, we expect all of these exits to be substantially completed by the end of our fiscal year. And we have strategically realigned our senior commercial leadership as well as realigned our corporate staffing to more efficiently support our streamlined business. These strategic initiatives are a clear demonstration of our proactive approach to driving our own momentum in what remains a challenged marketplace. We remain agile and committed to strengthening our business to prudently navigate the current environment, while at the same time, best positioning ourselves for the next 100 years. To expand a bit more on these important century vision strategic initiatives, we were thrilled to complete our acquisition of the 15 store network in the Southeast U...