La-Z-Boy Inc. (LZB) reported net income for the second quarter of $5.9 million or $0.11 per share, compared to a net loss of $53.7 million or $1.05 per share for the year-ago quarter.
The latest quarter results include a $0.01 per share restructuring charge, while the year-ago quarter results included a non-cash $0.74 per share charge for a valuation allowance against the company's deferred tax assets and a $0.04 per share restructuring charge.
Net sales for the second quarter fell 9.4% to $300.71 million from $331.95 million in the prior year quarter.
Analysts polled by Thomson Reuters expected the company to earn $0.12 per share on revenue of $284.76 million for the second quarter. Analysts' estimates typically exclude special items.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.