From Home Furnishing Business
La-Z-Boy Marks Opening of 100th New Concept Retail Store
La-Z-Boy (LZB) has opened its 100th new concept retail store in Prescott Valley, Ariz., part of a major effort to update and expand its network of La-Z-Boy Furniture Galleries stores.
The company said the new concept locations have the highest average volume per store of any of the company’s existing retail formats, generating approximately $4.2 million per year.
“When you introduce somebody to your product you want them to get excited, but also feel like they understand your brand,” said Mark Bacon, President of La-Z-Boy Branded Business. “Our new concept stores allow us to do that, keeping customers engaged in the store longer and helping improve sales.”
The new concept stores are part of the company’s 4-4-5 growth strategy for its retail stores. The program aims to expand the chain to 400 stores averaging $4 million in sales within five years. Bacon said the company is about halfway through the initiative, and already has achieved $4 million in average sales per store.
Currently, there are about 340 company- and licensee-owned La-Z-Boy Furniture Galleries stores. La-Z-Boy said about 120 will have the new format by the end of its fiscal year in April.
The new design embodies the La-Z-Boy “Live Life Comfortably” tagline, with a shopping experience as comfortable as its furniture. The format features a Design Inspirations center at the heart of the store that showcases several fully accessorized room vignettes.
The rest of the store is laid out by lifestyle, from contemporary to classic, reflecting today’s shopping habits. In the Design Center, customers can use interactive technology to render any upholstered piece in any of La-Z-Boy’s more than 800 fabrics and 100 leathers.
La-Z-Boy also offers free in-home design assistance from professionals experienced at helping turn design concepts into reality. The new store also offers a large selection of home accents and accessories to help customers create a complete look.
“Whether someone is new to La-Z-Boy or hasn’t bought one of our products in some time, we always hear how positively customers are responding to the selection of furniture in our La-Z-Boy concept stores,” Bacon said. “The store design celebrates style and comfort, while giving consumers the opportunity to truly transform their house into a home.”