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Why La-Z-Boy Stock Just Dropped 12%

TheMotleyFool

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Shares of La-Z-Boy (NYSE: LZB) are down 12.3% as of 10:30 a.m. EST after the furniture maker reported an earnings miss last night.

Analysts had predicted La-Z-Boy would earn $0.55 per share, adjusted for one-time items, in its fiscal second quarter of 2020, on sales of $454.4 million. Sales actually came in at only $447.2 million, and adjusted profits were $0.52 per share.

Image source: Getty Images.

Source Fool.com

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