Yesterday, the SVP of LaZBoy (LZB), Otis Sawyer, sold shares of LZB for $1.95M.
Following Otis Sawyer’s last LZB Sell transaction on August 27, 2018, the stock climbed by 6.7%. In addition to Otis Sawyer, one other LZB executive reported Sell trades in the last month.
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Based on LaZBoy’s latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $459 million and quarterly net profit of $34.94 million. In comparison, last year the company earned revenue of $447 million and had a net profit of $22.59 million. The company has a one-year high of $42.69 and a one-year low of $15.61. Currently, LaZBoy has an average volume of 538.74K.
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La-Z-Boy, Inc. engages in the production of reclining chairs and manufacture and distribution of residential furniture. It operates through the following segments: Upholstery, Casegoods, Retail, and Corporate and Other. The Upholstery segment manufactures and imports recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas. The Casegoods segment markets and distributes wood furniture such as bedroom sets, dining room sets, entertainment centers, and occasional pieces; and also manufactures some custom upholstered furniture. The Retail segment primarily sells upholstered furniture, in addition to some casegoods and other accessories, to the end consumer through the retain network. The Corporate and Other segment includes the shared costs for corporate functions, including human resources, information technology, finance, and legal. The company was founded by Edwards M. Knabusch and Edwin J. Shoemaker in 1927 and is headquartered in Monroe, MI.
