La-Z-Boy (NYSE:LZB) reported fiscal 2027 first-quarter sales of $476 million, down 3% year over year, or 1% excluding the divested wholesale casegoods business. GAAP operating margin was (0.4)% and adjusted operating margin 3.9%; GAAP diluted EPS was $(0.06) and adjusted EPS $0.43.The Retail segment delivered strong growth: total written sales rose 16%, written same-store sales grew 3%, and delivered sales increased 10% to $229 million, with adjusted operating margin improving to 6.5%. Wholesale sales fell 9% to $323 million, or 5% excluding casegoods, and Joybird written sales declined 17%.According to La-Z-Boy, the company ended the quarter with $267 million in cash and no external debt, generated $16 million in operating cash flow, and returned about $35 million to shareholders via repurchases and dividends. For the second quarter, it expects sales of $500–$520 million and adjusted operating margin of 4.0–5.5%. The board declared a quarterly dividend of $0.242 per share.

Reported Tuesday, Apr 21 - 4:16pm EDT (TheFly subscription required to read more.)

La-Z-Boy (NYSE:LZB) completed the sale of its American Drew and Kincaid wholesale casegoods businesses to Banner House, a multi-branded home furniture portfolio. The move supports portfolio optimization, focusing on La-Z-Boy's core vertically integrated North American upholstery business and advancing its Century Vision strategy.La-Z-Boy stores, Comfort Studios, and Branded Spaces will continue offering casegoods products, with broader sourcing intended to enhance future assortments and drive efficiency.

La-Z-Boy (NYSE: LZB) announced the sale of its American Drew and Kincaid wholesale casegoods businesses to Banner House, with the transaction expected to close in mid-May 2026. La-Z-Boy will continue offering casegoods in its 374 stores as part of a whole-home strategy while refocusing on its vertically integrated North American upholstery business.The company expects a seamless transition for employees, dealers, and suppliers and says the sale advances its previously announced portfolio optimization and Century Vision strategy.

Hooker Furnishings (NASDAQ: HOFT) completed the sale of the Pulaski Furniture and Samuel Lawrence Furniture casegoods brands to Magnussen Home Furnishings for approximately $6.1 million, subject to customary post-closing adjustments.Ten percent of the purchase price is subject to a 210-day holdback for indemnification and final adjustments. The transaction shifts approximately $4.8 million of HMI showroom lease liabilities and related expenses to Magnussen. Hooker cited modest improvement in sales and margins in Hooker Branded and Domestic Upholstery and noted a new share repurchase program and focus on its Margaritaville licensed collection. Stump & Company served as financial advisor and McGuireWoods LLP as legal advisor.

Hooker Furnishings (NASDAQ: HOFT) entered a definitive agreement to sell Pulaski Furniture and Samuel Lawrence Furniture casegoods brands to Magnussen, with an estimated purchase price of approximately $4.8 million as of the company's fiscal Q3 end (Nov 2, 2025), subject to final adjustment at closing. Magnussen will assume HMI's High Point showroom lease and related liabilities of roughly $4.8 million. The deal is expected to close by mid-December 2025 with 10% of purchase price held back for 210 days. Hooker expects $5–6 million in non-cash impairment charges, net of lease gains, and will discuss details on its fiscal Q3 earnings call on Dec 11, 2025.