Thursday, residential furniture maker La-Z-Boy Inc. (LZB) revealed it would consolidate its occasional furniture division Hammary Furniture into its American Drew/Lea facility located in High Point, North Carolina. The consolidation would begin in the middle of March and would be fully effective by the end of April 2010. Roles and positions would be further defined as the consolidation process continues, La-Z-Boy said.
The Hammary Showroom located at the IHFC Building in High Point would move from the third to the ninth floor adjacent to American Drew/Lea for the March pre-market as well as the April Furniture Market, the Monroe, Michigan-based La-Z-Boy noted.
Steven Kincaid, president of La-Z-Boy's casegoods segment, said, "The combination of these companies will allow us to bring a more complete casegoods product line up to our dealer base and we look forward to providing them with more of a one-stop solution for dining room, bedroom, youth furniture and occasional. Additionally, the larger combined organization will allow us to leverage the supply chain and distribution networks in place today for each company, affording us the opportunity to enhance service levels to our customer base while strengthening our sales, marketing and merchandising team under one umbrella."
LZB closed Thursday's regular trading at $11.32, up $0.10or 0.88%, on a volume of 818 thousand shares on the New York Stock Exchange.
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