Last $21.60 USD
Change Today +0.09 / 0.42%
Volume 350.2K
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As of 4:15 PM 10/21/14 All times are local (Market data is delayed by at least 15 minutes).

la-z-boy inc (LZB) Snapshot

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01/3/14 - $31.22
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la-z-boy inc (LZB) Details

La-Z-Boy Incorporated manufactures, markets, imports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States and Canada. The company also produces reclining chairs; and manufactures/distributes residential furniture in the United States. It operates in three segments: Upholstery, Casegoods, and Retail. The Upholstery segment manufactures or imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas. This segment sells its products directly to La-Z-Boy Furniture Galleries stores, operators of Comfort Studios locations, dealers, and other independent retailers. The Casegoods segment manufactures, imports, markets, and distributes casegoods furniture, including bedroom sets, dining room sets, entertainment centers and occasional pieces, and upholstered furniture. This segment sells its products to dealers and other independent retailers under the American Drew, Hammary, and Kincaid brands. The Retail segment sells upholstered furniture, casegoods, and other accessories to the end consumer through its retail network. As of August 19, 2014, this segment marketed La-Z-Boy products and brands through 317 stand-alone La-Z-Boy Furniture Galleries stores and 586 independent Comfort Studio locations, as well as in-store gallery programs for its Kincaid and England operating units. The company was formerly known as La-Z-Boy Chair Company and changed its name to La-Z-Boy Incorporated in 1996. La-Z-Boy Incorporated was founded in 1927 and is based in Monroe, Michigan.

8,300 Employees
Last Reported Date: 06/17/14
Founded in 1927

la-z-boy inc (LZB) Top Compensated Officers

Chairman, Chief Executive officer and Preside...
Total Annual Compensation: $874.3K
Chief Financial officer and Senior Vice Presi...
Total Annual Compensation: $422.5K
Senior Vice President and President of Brande...
Total Annual Compensation: $477.0K
Senior Vice President and President of Casego...
Total Annual Compensation: $380.0K
Senior Vice President and President of Non-Br...
Total Annual Compensation: $348.1K
Compensation as of Fiscal Year 2014.

la-z-boy inc (LZB) Key Developments

La-Z-Boy Incorporated Names Aaron Thomas Brown as Vice President, Strategy and Analytics

La-Z-Boy Incorporated announced that Aaron Thomas Brown will join the company as Vice President, Strategy and Analytics, a newly created position. In this capacity, Brown will report to Kurt Darrow, La-Z-Boy's Chairman, President and Chief Executive Officer, and will spearhead strategic planning across the enterprise. He will be responsible for leading a team charged with the ongoing refinement of existing corporate initiatives and the development of additional strategies designed to elevate corporate performance and drive increased sales and profitability. He will also be responsible for financial analytics related to the support, optimization and growth of the company's wholesale and retail divisions. Before joining La-Z-Boy, Brown was a Partner and Managing Director at The Boston Consulting Group, where he managed numerous engagements in the consumer goods and retail sectors, and developed growth strategies and corporate development agendas, including post-merger integration, due diligence and turnaround plans. He also was involved in BCG's recruiting program and served as Consultant Development Advisor.

La-Z-Boy Incorporated Seeking to Sell Lea Industries

La-Z-Boy Incorporated (NYSE:LZB) tried to find a buyer for Lea Industries, Inc. which proved unsuccessful. It has decided instead to cease operations and sell off all remaining inventory. “At this time, we have been unable to secure a buyer for Lea and made the decision to close it by December 3, 2014 and sell the remaining inventory,” said Kathy Liebmann, Director of corporate communications. “All current Lea open orders will be fulfilled, and we will continue to honor any product warranty issues through our customer service department."

La-Z-Boy Incorporated Announces Executive Appointments

La-Z-Boy Incorporated announced the appointments of two executive officers. Doug Collier has been named Senior Vice President of La-Z-Boy Incorporated, Chief Marketing Officer and President, International, and Darrell Edwards has been named Senior Vice President of La-Z-Boy Incorporated and Chief Supply Chain Officer. Previously, Edwards was Senior Vice President, Operations for the La-Z-Boy branded business. Collier rejoined La-Z-Boy Incorporated in June 2007 after two years with Select Comfort as Chief Marketing Officer and Senior Vice President, Marketing. Prior to Select Comfort, Collier held various leadership positions at La-Z-Boy from 2002 through 2005, including Vice President, Marketing and Furniture Galleries Development. Edwards joined La-Z-Boy Incorporated in 2004 as General Manager of the company's Newton, Mississippi plant and held various positions of increasing responsibility, including Vice President of Manufacturing, before being named Senior Vice President of Operations for the La-Z-Boy branded business.


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