La-Z-Boy rebound squeezed by foam availability challenge

Cons. Discr. - Durables 364 Earnings 508 Quote Watch 281 U.S. 4725

La-Z-Boy reported fiscal Q2’21 revenues which increased by 2.7% year over year due to pandemic-related, stay-at-home demand. The firm’s “supply chain team is doing a great job to continually increase weekly production” according to CEO Kurt Darrow at the firm’s earnings call. Total U.S. seaborne imports linked to the furniture maker fell 5.8% year over year for the three months to Oct. 31, though imports of parts and components specifically recovered by 18.3% in the month of October. Darrow noted a “temporary shortage of foam, which reduced sales by more than 2%” may have continued into ...

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