La-Z-Boy Posts Drop in 2Q Sales; Delays Full Report

November 14, 2010  by in UnCategorized   

By Home Furnishings Business in Financial Reports on November 15, 2010 La-Z-Boy Inc. (NYSE: LZB) reported net sales of $293 million for the second quarter, down 2.6 percent from the prior year's second quarter sales.

The company also announced that it is delaying the release of its fiscal 2011 second-quarter operating results in order to finalize accounting issues involving "the company's dealer entities that are consolidated as Variable Interest Entities." In a press release, the company said it believes the accounting issues will not impact the company's earnings per share because adjustments will be made to prior quarters.

La-Z-Boy expects to report is second-quarter earnings after the close of the New York Stock Exchange Monday, Nov. 22. An investor conference call will be held Tuesday, Nov. 23, at 8:30 a.m.

The dial-in phone number for the live conference call will be (877) 407-0778 for people calling from within the U.S. or Canada, and the number for international callers will be (201) 689-8565. The call will also be Webcast live and archived on the Internet.