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.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.