Why La-Z-Boy Stock Jumped 14% This Past Week
Shares of La-Z-Boy (NYSE: LZB) rose 14% over the past week, according to data provided by S&P Global Market Intelligence, after the furniture maker delivered revenue and earnings that were significantly higher than investors expected.
La-Z-Boy's retail segment sales surged 27% year over year to $251 million in its fiscal 2023 third quarter, which ended on Jan. 28. CEO Melinda Whittington said the strong performance was driven by the company's enticing value proposition of "comfortable custom furniture with quick delivery."
"Across La-Z-Boy, we are capitalizing on and investing in our brand heritage of comfort. We're honing our messaging, investing in targeted marketing, sharpening price points, and ensuring strong execution," Whittington said in a press release.
Source Fool.com
