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From Home Furnishing Business

La-Z-Boy Names King President Of Retail Segment

La-Z-Boy Inc. (NYSE: LZB) has promoted Daniel King to president of the company's Retail Segment.

King has served as vice president of La-Z-Boy's retail operations since July 2011. In his new role as president, King is responsible for all facets of the company-owned La-Z-Boy Furniture Galleries stores, including sales, store operations, training and merchandising functions. The company owns 101 out of 315 La-Z-Boy Furniture Galleries stores, and in fiscal 2014 the segment recorded approximately $300 million in sales.

"Dan has done an outstanding job leading the retail team for the past three years, and since joining the company in 2008, has played an integral role in turning around and growing our retail business," said Senior Vice President and President of the La-Z-Boy branded business Mark Bacon. "As we move forward with our '4-4-5' store growth strategy (400 stores, averaging $4 million in sales per store, over a five-year time period), our company-owned retail segment will become a larger and more important part of our overall business. We are confident that a leader of Dan's caliber will continue to drive the business and play a critical role in the execution of our integrated retail strategy."

King is a seasoned executive with a career spanning more than 30 years in the retail arena. Before joining La-Z-Boy as director of retail sales and operations, he was divisional vice president (Southern Division) of Pepboys, where he was responsible for 153 stores. Prior to that, he was vice president of the Mid-Atlantic Region of Staples Inc., where he was responsible for 86 stores. King is a graduate of Le Moyne College, in Syracuse, N.Y., and holds a BS in labor relations and psychology.

"I am very excited to be part of La-Z-Boy Incorporated at such an important time in the company's history," King said. "Increasing the size of our store footprint across North America will provide tremendous growth opportunities for our iconic brand.  I have had and continue to have the pleasure of working with a great team of dedicated and talented people who are working to grow our business and deliver results through our integrated retail model."

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