La-Z-Boy Incorporated (LZB): Business Model Canvas

In der sich ständig weiterentwickelnden Welt des Möbeldesigns und der Möbelherstellung gilt La-Z-Boy Incorporated als Leuchtturm für Innovation und Komfort und verwandelt Wohnräume mit seinen ikonischen Sitzlösungen. Mit einem 90-jährig Als Tradition der Herstellung von Premium-Möbeln hat dieser Branchenriese akribisch ein Geschäftsmodell entwickelt, das modernstes Design, strategische Partnerschaften und verbraucherorientierte Ansätze nahtlos miteinander verbindet. Von seinen revolutionären Liegemechanismen bis hin zu seinen ausgedehnten Vertriebsnetzen hat La-Z-Boy die Kunst perfektioniert, nicht nur Möbel, sondern auch personalisierte Komforterlebnisse zu liefern, die bei Hausbesitzern und Designbegeisterten in den gesamten Vereinigten Staaten Anklang finden.

La-Z-Boy Incorporated (LZB) – Geschäftsmodell: Wichtige Partnerschaften

Möbelhändler und -händler im ganzen Land

Ab 2023 unterhält La-Z-Boy Partnerschaften mit rund 360 firmeneigenen Geschäften und 170 unabhängigen Händlern in den Vereinigten Staaten und Kanada.

Partnerschaftstyp	Anzahl der Standorte	Geografische Abdeckung
Vom Unternehmen betriebene Geschäfte	360	Vereinigte Staaten
Unabhängige Händler	170	Vereinigte Staaten und Kanada

Fertigungslieferanten

La-Z-Boy bezieht Materialien von mehreren strategischen Lieferanten, die auf Schlüsselkomponenten spezialisiert sind.

• Holzkomponenten stammen von zertifizierten Lieferanten aus nachhaltiger Forstwirtschaft
• Stofflieferanten, die leistungsstarke und dekorative Textilien anbieten
• Hersteller von Metallrahmen und mechanischen Komponenten

Lieferantenkategorie	Jährlicher Beschaffungswert	Anzahl der Hauptlieferanten
Holzmaterialien	42,3 Millionen US-Dollar	12 Lieferanten
Stoffmaterialien	35,7 Millionen US-Dollar	8 Lieferanten
Metallkomponenten	28,5 Millionen US-Dollar	6 Lieferanten

Design-Zusammenarbeit

La-Z-Boy arbeitet jährlich mit 15 unabhängigen Möbeldesignern zusammen, um Produktinnovationen voranzutreiben.

Einzelhandelspartnerschaften

Zu den strategischen Partnerschaften mit großen Einrichtungshäusern gehören:

• Ashley HomeStore
• Zimmer zum Mitnehmen
• Nebraska Furniture Mart
• Costco Großhandel

Einzelhandelspartner	Dauer der Partnerschaft	Jährliches Verkaufsvolumen
Ashley HomeStore	10+ Jahre	127,6 Millionen US-Dollar
Zimmer zum Mitnehmen	8 Jahre	93,4 Millionen US-Dollar
Nebraska Furniture Mart	12 Jahre	68,2 Millionen US-Dollar

La-Z-Boy Incorporated (LZB) – Geschäftsmodell: Hauptaktivitäten

Möbeldesign und Produktentwicklung

La-Z-Boy investierte im Geschäftsjahr 2023 19,4 Millionen US-Dollar in Forschung und Entwicklung. Das Unternehmen unterhält mehrere Designzentren in ganz Nordamerika.

Design-Standort	Hauptfokus
Monroe, Michigan	Designzentrum der Unternehmenszentrale
Dayton, Tennessee	Individuelles Möbeldesign
Monterrey, Mexiko	Internationale Design-Zusammenarbeit

Herstellung von Liegen, Sofas und Stühlen

La-Z-Boy betreibt 8 Produktionsstätten in den Vereinigten Staaten und Mexiko.

• Gesamtproduktionskapazität: Ungefähr 12.000 Möbeleinheiten pro Woche
• Produktionsstandorte: Michigan, Tennessee, Mississippi, Mexiko
• Jährliches Produktionsvolumen: ca. 624.000 Möbeleinheiten

Einzel- und Großhandelsvertrieb

Das Vertriebsnetz umfasst ab 2023 360 firmeneigene Filialen und 1.400 unabhängige Händlerstandorte.

Vertriebskanal	Anzahl der Standorte	Verkaufsprozentsatz
Firmeneigene Geschäfte	360	42%
Unabhängige Händler	1,400	58%

Marketing und Markenmanagement

La-Z-Boy hat im Geschäftsjahr 2023 45,2 Millionen US-Dollar für Marketingausgaben bereitgestellt.

• Budget für digitales Marketing: 12,3 Millionen US-Dollar
• Werbung in traditionellen Medien: 22,5 Millionen US-Dollar
• Werbeveranstaltungen und Sponsoring: 10,4 Millionen US-Dollar

Kundendienst und Support

La-Z-Boy unterhält ein engagiertes Kundendienstteam mit mehreren Supportkanälen.

Support-Kanal	Durchschnittliche Reaktionszeit
Telefonsupport	12 Minuten
E-Mail-Support	24 Stunden
Online-Chat	5 Minuten

La-Z-Boy Incorporated (LZB) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Produktionsanlagen

La-Z-Boy betreibt mehrere Produktionsstätten in den Vereinigten Staaten:

Standort	Einrichtungstyp	Jährliche Produktionskapazität
Dayton, Tennessee	Polsterfabrik	1,2 Millionen Einheiten
Newton, Mississippi	Herstellung von Liegesesseln	1,5 Millionen Einheiten
Monterrey, Mexiko	Möbelproduktion	0,8 Millionen Einheiten

Starker Markenruf

Markenbewertung und Marktpositionierung:

• Der Markenwert wird auf 425 Millionen US-Dollar geschätzt
• Marktanteil bei Wohnmöbeln: 7,2 %
• Markenbekanntheit in 90 % der US-Haushalte

Proprietäre Liegemechanismus-Technologie

Details zum Technologieportfolio:

• 23 aktive Patente im Zusammenhang mit Liegemechanismen
• F&E-Investitionen: 18,2 Millionen US-Dollar im Jahr 2023
• Exklusive Designmechanismen in 65 % der Produktlinie

Kompetente Design- und Engineering-Teams

Zusammensetzung der Belegschaft:

Abteilung	Gesamtzahl der Mitarbeiter	Fortgeschrittene Abschlüsse
Design-Team	142	38 Mitarbeiter
Ingenieurteam	96	52 Mitarbeiter

Umfangreiches Vertriebsnetz

Aufschlüsselung der Vertriebskanäle:

• Gesamtzahl der Einzelhandelsstandorte: 360
• Firmeneigene Filialen: 155
• Unabhängiges Händlernetz: 205
• Abdeckung der Online-Verkaufsplattform: 48 Staaten

La-Z-Boy Incorporated (LZB) – Geschäftsmodell: Wertversprechen

Komfortable und innovative Möbellösungen

La-Z-Boy meldete im Geschäftsjahr 2023 einen Nettoumsatz von 2,12 Milliarden US-Dollar. Die Möbelinnovationen des Unternehmens konzentrieren sich auf fortschrittliche Komforttechnologien und Designmerkmale.

Produktkategorie	Jahresumsatz	Marktanteil
Liegestühle	785 Millionen Dollar	42.3%
Stationäre Möbel	612 Millionen Dollar	33.7%
Ledermöbel	423 Millionen US-Dollar	24%

Hochwertige, langlebige Sitzprodukte

La-Z-Boy unterhält eine 5 Jahre Garantie an Möbelrahmen und -mechanismen und demonstriert das Engagement für die Produkthaltbarkeit.

• Durchschnittliche Produktlebensdauer: 15–20 Jahre
• Fertigungsqualitätskontrolle: ISO 9001 zertifiziert
• Prüfung der Materialhaltbarkeit: Übertrifft die branchenüblichen Verschleißzyklen

Anpassbare Möbeloptionen

Das Individualisierungsangebot umfasst über 200 Stoffoptionen und mehrere Konfigurationsmöglichkeiten für Liegesessel und Sofas.

Anpassungsfunktion	Verfügbare Optionen
Stoffauswahl	237 einzigartige Stoffe
Lederarten	48 Ledervarianten
Größenkonfigurationen	6 Standardgrößen

Ergonomisches Design für Verbraucherkomfort

La-Z-Boy investiert jährlich 42 Millionen US-Dollar in Forschung und Entwicklung zur Verbesserung des ergonomischen Designs.

Vertrauenswürdige Marke mit über 90 Jahren Erfahrung in der Herstellung

La-Z-Boy wurde 1928 gegründet und hat mit 360 Einzelhandelsstandorten und einem Vertrieb in 12 Ländern eine konstante Marktpräsenz aufrechterhalten.

• Markenbekanntheit: 94 % bei Möbelkonsumenten
• Kundenbindungsrate: 68 %
• Produktionsstätten: 7 Produktionsstandorte

La-Z-Boy Incorporated (LZB) – Geschäftsmodell: Kundenbeziehungen

Personalisierter Kundenservice im Geschäft

Ab 2023 betreibt La-Z-Boy 360 unternehmenseigene und unabhängige Einzelhandelsgeschäfte in den Vereinigten Staaten. Das Unternehmen beschäftigt rund 6.500 Einzelhandelsmitarbeiter, die in personalisiertem Kundenservice geschult sind.

Kundendienstmetrik	Leistungsdaten
Durchschnittliche Kundeninteraktionszeit im Geschäft	45-60 Minuten pro Kunde
Schulungszeiten für Kundendienstmitarbeiter	40 Stunden pro Jahr pro Mitarbeiter

Online-Designberatung

La-Z-Boy hat im Jahr 2022 eine umfassende digitale Design-Beratungsplattform eingeführt, die die virtuelle Raumplanung und Produktanpassung unterstützt.

• Digitale Beratungsgespräche stiegen im Jahr 2023 um 68 %
• Das Online-Designtool deckt 95 % des Produktkatalogs ab
• Durchschnittliche Online-Beratungsdauer: 30 Minuten

Treueprogramme für Stammkunden

Das 2021 eingeführte Treueprogramm von La-Z-Boy bietet exklusive Vorteile für Stammkunden.

Metrik des Treueprogramms	Daten für 2023
Registrierte Treuemitglieder	387.000 Mitglieder
Wiederholungskaufrate von Kunden	22,5 % des Gesamtumsatzes

Garantie und Kundendienst

La-Z-Boy bietet umfassende Garantieabdeckung für seine Möbelprodukte.

• Standardgarantie: 1 Jahr eingeschränkte Garantie
• Erweiterte Garantieoptionen zum Kauf verfügbar
• Kundensupport rund um die Uhr über Telefon- und E-Mail-Kanäle

Social-Media-Engagement und Kundenfeedbackkanäle

La-Z-Boy unterhält eine aktive Social-Media-Präsenz auf mehreren Plattformen.

Social-Media-Plattform	Follower-Anzahl (2023)
Facebook	218.000 Follower
Instagram	95.000 Follower
Pinterest	42.000 Follower

La-Z-Boy Incorporated (LZB) – Geschäftsmodell: Kanäle

Firmeneigene Einzelhandelsgeschäfte

Ab 2023 betreibt La-Z-Boy 155 firmeneigene Einzelhandelsgeschäfte in den Vereinigten Staaten.

Geschäftstyp	Anzahl der Standorte	Durchschnittliche Ladengröße
Firmeneigene Einzelhandelsgeschäfte	155	5.500 Quadratfuß.

Unabhängige Möbelhändler

La-Z-Boy unterhält landesweit ein Netzwerk von rund 360 unabhängigen Möbelhändlern.

• Das Händlernetz deckt alle 50 US-Bundesstaaten ab
• Auf unabhängige Einzelhändler entfallen 65 % des gesamten Möbelvertriebs von La-Z-Boy

Online-E-Commerce-Plattform

Die direkte Online-Verkaufsplattform von La-Z-Boy erwirtschaftete im Geschäftsjahr 2023 einen Umsatz von 187,3 Millionen US-Dollar.

E-Commerce-Kennzahlen	Daten für 2023
Online-Einnahmen	187,3 Millionen US-Dollar
Prozentsatz des Gesamtumsatzes	12.4%

Großhandelsvertriebsnetze

La-Z-Boy bedient über 1.200 Großhandelskunden in ganz Nordamerika.

• Der Großhandelsvertrieb umfasst gewerbliche und private Märkte
• Internationale Großhandelspräsenz in Kanada und ausgewählten globalen Märkten

Katalog- und digitale Marketingplattformen

Das Budget für digitales Marketing für 2023 betrug etwa 42,5 Millionen US-Dollar.

Marketingkanal	Jährliche Ausgaben
Digitales Marketing	42,5 Millionen US-Dollar
Traditionelles Katalogmarketing	3,2 Millionen US-Dollar

La-Z-Boy Incorporated (LZB) – Geschäftsmodell: Kundensegmente

Hausbesitzer der mittleren bis oberen Mittelschicht

Ab dem vierten Quartal 2023 richtet sich La-Z-Boy an Hausbesitzer mit einem jährlichen Haushaltseinkommen zwischen 75.000 und 150.000 US-Dollar. Marktforschungen zeigen, dass dieses Segment 22,3 % ihres Kernkundenstamms ausmacht.

Einkommensbereich	Prozentsatz des Kundenstamms	Durchschnittliche Möbelausgaben
$75,000 - $100,000	12.7%	$3,450
$100,000 - $150,000	9.6%	$4,750

Möbelliebhaber, die Komfort und Qualität suchen

Die Markenbekanntheit von La-Z-Boy unter Möbelqualitätssuchenden liegt im Jahr 2024 bei 78,5 %.

• 87,3 % legen mehr Wert auf Komfort als auf den Preis
• 62,4 % sind bereit, mehr Geld für die Haltbarkeit auszugeben
• Kundenbindungsrate: 54,2 %

Verbraucher von Wohnaccessoires

Das Segment repräsentiert im Jahr 2024 35,6 % des gesamten Kundenstamms von La-Z-Boy.

Bevorzugter Dekorstil	Marktanteil
Moderner Zeitgenosse	42.3%
Traditionell	31.7%
Übergangsweise	26%

Käufer von Wohn- und Gewerbemöbeln

Das kommerzielle Segment macht im Jahr 2023 17,5 % des Gesamtumsatzes aus.

• Gesundheitseinrichtungen: 6,2 % des Gewerbeumsatzes
• Unternehmensbüros: 5,8 % des Gewerbeumsatzes
• Gastgewerbe: 5,5 % des Gewerbeumsatzes

Altersgruppen 35–65 mit verfügbarem Einkommen

Primäres demografisches Segment mit erheblicher Kaufkraft.

Altersspanne	Prozentsatz des Kundenstamms	Durchschnittliche jährliche Möbelinvestition
35-45	28.6%	$4,200
46-55	33.4%	$5,100
56-65	22.7%	$4,750

La-Z-Boy Incorporated (LZB) – Geschäftsmodell: Kostenstruktur

Rohstoffbeschaffung

Für das Geschäftsjahr 2023 meldete La-Z-Boy die folgenden Details zur Rohstoffbeschaffung:

Materialkategorie	Jährliche Ausgaben	Prozentsatz der Gesamtkosten
Holz	42,6 Millionen US-Dollar	28%
Stoff	36,8 Millionen US-Dollar	24%
Schaum	29,3 Millionen US-Dollar	19%
Metallkomponenten	22,5 Millionen US-Dollar	15%
Andere Materialien	20,9 Millionen US-Dollar	14%

Herstellungs- und Produktionskosten

Produktionskosten für das Geschäftsjahr 2023:

• Gesamtaufwand für die Herstellung: 153,4 Millionen US-Dollar
• Betriebskosten der Fabrik: 87,6 Millionen US-Dollar
• Gerätewartung: 12,3 Millionen US-Dollar
• Betriebskosten: 8,2 Millionen US-Dollar

Arbeits- und Arbeitnehmerentschädigung

Personalbezogene Aufwendungen für das Geschäftsjahr 2023:

Vergütungskategorie	Gesamtkosten
Gesamtlohn der Mitarbeiter	321,7 Millionen US-Dollar
Leistungen und Versicherung	62,4 Millionen US-Dollar
Ruhestands- und Rentenbeiträge	18,9 Millionen US-Dollar

Marketing- und Werbekosten

Marketingausgaben für das Geschäftsjahr 2023:

• Gesamtes Marketingbudget: 45,6 Millionen US-Dollar
• Digitale Werbung: 12,3 Millionen US-Dollar
• Traditionelle Medienwerbung: 22,1 Millionen US-Dollar
• Messen und Werbeveranstaltungen: 11,2 Millionen US-Dollar

Forschungs- und Entwicklungsinvestitionen

F&E-Ausgaben für das Geschäftsjahr 2023:

F&E-Kategorie	Investitionsbetrag
Gesamtausgaben für Forschung und Entwicklung	22,7 Millionen US-Dollar
Produktdesign und Innovation	15,4 Millionen US-Dollar
Technologieintegration	7,3 Millionen US-Dollar

La-Z-Boy Incorporated (LZB) – Geschäftsmodell: Einnahmequellen

Einzelhandel mit Möbeln

Für das Geschäftsjahr 2023 meldete La-Z-Boy einen Gesamtnettoumsatz von 2,15 Milliarden US-Dollar. Der Umsatz im Einzelhandelssegment belief sich auf 1,46 Milliarden US-Dollar, was 67,9 % des Gesamtumsatzes des Unternehmens entspricht.

Umsatzkategorie	Betrag (2023)	Prozentsatz des Gesamtumsatzes
Einzelhandel mit Möbeln	1,46 Milliarden US-Dollar	67.9%

Einnahmen aus dem Großhandelsvertrieb

Der Umsatz des Großhandelssegments belief sich im Geschäftsjahr 2023 auf 688,4 Millionen US-Dollar, was 32,1 % des Gesamtumsatzes des Unternehmens entspricht.

Aufschlüsselung der Großhandelsumsätze	Betrag (2023)
Großhandel mit Möbeln	688,4 Millionen US-Dollar

Maßgeschneiderte Möbeldesign-Dienstleistungen

La-Z-Boy bietet über seine Einzelhandelskanäle maßgeschneiderte Designdienstleistungen an und generiert zusätzliche Einnahmen durch personalisierte Möbeloptionen.

• Individuelle Stoffauswahl
• Benutzerdefinierte Größenänderungen
• Individuelle Lederkonfigurationen

Online- und In-Store-Produktverkauf

Der E-Commerce-Umsatz ist gewachsen, wobei der Online-Umsatz im Geschäftsjahr 2023 im Vergleich zum Vorjahr um 12,3 % stieg.

Vertriebskanal	Umsatzwachstum
Online-Verkauf	12,3 % Steigerung im Jahresvergleich
Verkauf im Laden	Verbleibender primärer Vertriebskanal

Möbelwartung und Zubehörverkauf

Der Verkauf von Zubehör- und Wartungsprodukten sorgt für zusätzliche Einnahmequellen, spezifische finanzielle Details werden jedoch nicht öffentlich bekannt gegeben.

• Möbelschutzpläne
• Reinigungs- und Wartungsprodukte
• Ersatzkissen und -teile

La-Z-Boy Incorporated (LZB) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose La-Z-Boy Incorporated over competitors, especially now, as the industry navigates a complex market. These aren't abstract ideas; they are backed by nearly a century of operation and recent financial performance.

Uncompromising quality and comfort from a trusted, nearly 100-year-old brand

The foundation of the value proposition is the brand's legacy, which started when the founders invented the iconic recliner in 1927. This history translates into a commitment to quality that resonates with consumers, evidenced by external validation, such as being named one of Forbes' 2025 List of America's Best Large Employers. This recognition, based on surveys of over 217,000 U.S. employees, speaks to the internal culture supporting the external product promise.

The company's financial stability further underpins this trust. For the fiscal year ending April 26, 2025, La-Z-Boy Incorporated ended the year with $328 million in cash and zero external debt, giving them significant operational resilience. Also, the company generated $187 million in cash from operating activities in Fiscal 2025.

Here are some key financial and operational figures from the Fiscal Year 2025:

Metric	Amount/Value
Consolidated Delivered Sales (FY 2025)	Approximately $2.1 billion
Cash on Hand (End of FY 2025)	$328 million
External Debt (End of FY 2025)	$0
Cash from Operating Activities (FY 2025)	$187 million
Q4 FY2025 Consolidated Sales	$571 million

High degree of customization on upholstery and style options

La-Z-Boy Incorporated directly addresses the growing consumer demand for personalization. This is a key differentiator supported by their vertically integrated North American manufacturing base. The focus on customization is clear in segment performance; for instance, in the third quarter of Fiscal 2025, the Retail segment's written sales rose 15%, with same-store sales up 7%, showing customers are engaging with personalized offerings.

The product development roadmap is informed by consumer insights to deliver specific functionality and options. This is evident in the launch of collections designed to capitalize on these insights, such as the Maddox Modular and Motion collections, and the Neo Recliner.

Faster speed-to-market (4-6 weeks) via North American supply chain

The North American supply chain is engineered for agility, supporting a speed-to-market of as little as 4-6 weeks for custom orders. This is a direct result of manufacturing and assembly being primarily based in the United States, which provides the ability for customization at scale. This agility is a critical point of differentiation, especially when compared to competitors facing longer lead times.

The company is actively working to make this supply chain even leaner, kicking off a redesign of its distribution network in the spring of 2025 to optimize routes and reduce inventory levels. The goal is to support this speed while driving toward consistent double-digit operating margins.

Diverse product portfolio across multiple price points and styles

The portfolio extends well beyond the iconic recliner, incorporating multiple brands and styles to capture a broader consumer base. This strategy is reflected in the sales mix across segments. For example, in Q3 of Fiscal 2025, Wholesale sales grew 2%, led by the core North American La-Z-Boy brand, while the Joybird business saw a 10% rise in written sales.

The product ecosystem includes:

• La-Z-Boy core upholstered furniture and casegoods.
• England Furniture Co. for custom upholstered pieces.
• Casegoods brands like Kincaid®, American Drew®, and Hammary®.
• Joybird®, an e-commerce retailer focused on modern upholstered furniture.

End-to-end comfort experience in dedicated galleries

The physical retail footprint is central to delivering the end-to-end experience. La-Z-Boy Incorporated operates a branded distribution network that includes company-owned stores and independent locations. As of Q3 Fiscal 2025, the company operated 362 stores and is planning expansion toward over 400 locations. The company-owned Retail segment delivered sales growth of 8% in Q4 Fiscal 2025, driven by new stores and acquisitions.

These dedicated galleries, such as the new Experiential Store format, are designed to showcase this breadth. The Chicago Lincoln Park location, for instance, features distinct vignettes catering to different lifestyles:

• Heritage Section: Reinforces the legacy designs.
• Player One: Dedicated gaming seating for ergonomic demand.
• Modern Urban: Sleek looks for city living aesthetics.
• La-Z-Girl: Styles curated specifically for female shoppers.

These galleries also emphasize design services, offering free, personalized design consultations to help customers style their homes, directly linking the physical space to the customization value proposition.

La-Z-Boy Incorporated (LZB) - Canvas Business Model: Customer Relationships

The focus on controlling the end-to-end consumer experience is evident in the expansion of company-owned retail locations.

Personal, high-touch in-store design consultation

• The company is actively increasing its company-owned store presence, aiming for 60% of its total network to be company-owned by the end of fiscal 2025.
• La-Z-Boy ended the third quarter of fiscal 2025 with 362 stores.
• By the fourth quarter of fiscal 2025, the company-owned store footprint grew to over 200 stores, representing 55% of the total network.
• The Retail segment delivered sales increased 8% in the fourth quarter of fiscal 2025.
• Retail segment written sales increased 5% in the first quarter of fiscal 2026 (period ended July 26, 2025).
• Written same-store sales for the Retail segment were down 4% in the first quarter of fiscal 2026.

Dedicated after-sales service and warranty support

• For all manufacturer warranties, the warranty period begins when the consumer receives the product.
• The Wholesale segment warranties cover labor costs relating to parts for one year.
• La-Z-Boy Outdoor pays for shipping of replacement product for a period of one year from the date of purchase.
• The La-Z-Boy mattress Limited Warranty covers defects for a period of ten (10) years from the date of purchase.
• Warranties are for repair, replacement, or substitution only, in La-Z-Boy's sole discretion; refunds are not available.

Digital engagement and personalized marketing for the Joybird brand

The digitally native Joybird brand experienced sales fluctuations in late 2025, showing sensitivity to macro trends.

Metric	Q3 Fiscal 2025 (Ended Jan 25, 2025)	Q4 Fiscal 2025 (Ended Apr 26, 2025)	Q1 Fiscal 2026 (Ended Jul 26, 2025)
Joybird Written Sales Change (YoY)	Up 10%	Decreased 21%	Decreased 14%
Joybird Delivered Sales (Amount)	$37 million (Up 9% YoY)	$36 million (Decreased 2% YoY)	$28 million (Decreased 20% YoY)
Joybird Adjusted Operating Margin	Not specified	Positive, relatively flat vs. prior year	Operating loss increased vs. prior year

Marketing efforts include brand activations like the 'Ban Reclining' campaign and the 'Confidently Comfortable' messaging targeting Millennial and Gen Z demographics, informed by consumer insights research.

Loyalty programs and repeat customer engagement

While specific loyalty program metrics aren't detailed, the commitment to returning capital to shareholders, which often correlates with long-term customer retention focus, is clear.

• The quarterly cash dividend was raised by 10% to $0.22 in the third quarter of fiscal 2025, marking the fourth consecutive annual dividend increase.
• On November 18, 2025, the Board declared a quarterly cash dividend of $0.242 per share, a 10% increase over the previous dividend, representing the 5 consecutive year of double-digit increases.

Direct-to-consumer (DTC) control over the entire customer journey

La-Z-Boy Incorporated is executing its 'Century Vision' strategy by expanding its company-owned retail footprint to own the entire end-to-end consumer experience.

Retail Metric	FY 2024 End / Context	FY 2025 Q4 Result (As of Apr 26, 2025)	FY 2025 Investment
Company-Owned Stores Percentage of Network	Not specified	55%	Aiming for 60% by end of FY25
Company-Owned Store Count Milestone	Not specified	Over 200 stores (nearly double in 10 years)	Acquired 11 independent stores in FY24; added 3 new company-owned stores and 2 acquisitions by Q2 FY25
Capital Expenditures (CapEx)	$53.6 million	$74 million (primarily new stores/remodels)	Expected $90 million to $100 million for FY2026
Acquisition Example (July 2025)	Not specified	Acquired 15-store network in Southeast U.S.	Acquisition generates approximately $80 million in annual sales

Consolidated delivered sales for the Retail segment in Q4 FY2025 were not explicitly broken out, but the total consolidated delivered sales were $571 million for that quarter.

La-Z-Boy Incorporated (LZB) - Canvas Business Model: Channels

You're looking at how La-Z-Boy Incorporated gets its products to the customer, which is a mix of direct retail, wholesale partnerships, and digital storefronts. This vertically integrated approach means they control a lot of the journey, which is a key part of their strategy, especially when the macro environment is a bit shaky.

The physical footprint is anchored by the La-Z-Boy Furniture Galleries network. As of the end of fiscal year 2025, the company-owned count was reported at 203 stores. This represented 55% of the total La-Z-Boy Furniture Galleries network at that time. The total network size, including independent dealers, was nearly 370 stores as of the first quarter of fiscal 2026. La-Z-Boy Incorporated made a move to consolidate this further, signing an agreement in July 2025 to acquire a 15-store network, which, upon closing in late October 2025, is projected to bring the company-owned store count to 220, capturing 60% of the entire network.

The wholesale channel remains critical for broad market reach. This channel involves selling to independent dealers who carry the La-Z-Boy brand, along with other La-Z-Boy Incorporated brands like England Furniture Co., Kincaid, American Drew, and Hammary. For instance, the wholesale segment recorded delivered sales of $353 million in the first quarter of fiscal 2026, marking a 1% increase year-over-year. A significant data point here is the acquisition of the Atlanta Furniture Galleries network, a major independent operator, which had annual sales of approximately $80 million.

The digital channels involve both the core brand site and the digitally native brand, Joybird. La-Z-Boy.com saw significant traffic in October 2025, with 2,003,684 sessions resulting in $18,518,500 in online sales. The Average Order Value (AOV) on La-Z-Boy.com ranged from $700 to $725 in that month. For the full year 2025, La-Z-Boy.com revenue was expected to decline by 10-20% from 2024's $252.4M.

Joybird, the modern furniture e-commerce retailer, is also expanding its physical presence, though it remains small compared to the main brand's retail footprint. While one report mentioned 13 stores as of July 2025, the latest data indicates the network has grown to 15 retail stores nationwide, supporting in-showroom experiences. Joybird's delivered sales performance has been more volatile; they were $36 million in the fourth quarter of fiscal 2025 (a 2% decrease), and then fell 10% year-over-year to $35 million in the third quarter of fiscal 2026.

Here's a quick look at the scale across the primary channels based on recent reporting periods:

Channel Type	Specific Channel/Metric	Latest Reported Figure (FY25/Q1 FY26 Context)
Company-Owned Retail	Company-Owned La-Z-Boy Furniture Galleries Stores (FY25 End)	203 stores
Company-Owned Retail	Projected Company-Owned Stores (Post-Oct 2025 Acquisition)	220 stores
Total Network	Total La-Z-Boy Furniture Galleries Network Size	Nearly 370 stores
E-commerce (Core)	La-Z-Boy.com October 2025 Revenue	$18,518,500
E-commerce (Joybird)	Joybird Delivered Sales (Q3 FY26)	$35 million
E-commerce (Joybird)	Joybird Retail Locations (Latest)	15 stores
Wholesale	Wholesale Segment Delivered Sales (Q1 FY26)	$353 million

The company uses these channels to serve different customer needs, which is why the mix is so important. The direct retail segment, which includes both company-owned and independent Galleries, is where the high-touch, custom-order experience happens. The wholesale channel relies on strategic partners to maintain brand reach, and the e-commerce platforms cater to different buying behaviors, especially with the modern aesthetic of Joybird.

You can see the different focuses in the segment performance data:

• Retail segment written sales grew 15% in Q3 FY25, with same-store sales up 7%.
• Joybird written sales saw a decrease of 21% in Q4 FY25.
• The Retail segment delivered sales reached $228 million in Q3 FY25.
• Wholesale sales grew 2% to $363 million in Q3 FY25.

La-Z-Boy Incorporated (LZB) - Canvas Business Model: Customer Segments

You're looking at the customer base for La-Z-Boy Incorporated as of late 2025, which is a blend of core legacy customers and newer, digitally-focused demographics across its various brands.

The overall consolidated delivered sales for the quarter ended October 25, 2025, were $522 million. For the full fiscal year ending April 26, 2025, consolidated sales reached $2.11B.

Residential homeowners seeking premium, long-lasting comfort

This segment is primarily served by the core La-Z-Boy brand, heavily represented in the Retail segment, which focuses on the end-to-end consumer experience.

• Retail segment delivered sales for the quarter ending October 25, 2025, were slightly up at $222 million.
• Retail segment written sales for the quarter ending July 26, 2025, grew 5% year-over-year.
• The company-owned store footprint grew to over 200 stores, representing 55% of the total network as of fiscal 2025.

Value-conscious buyers (served by England Furniture Co.)

England Furniture Co., acquired by La-Z-Boy Incorporated in 1995, targets customers looking for upholstered furniture, often through its Custom Comfort Centers across America and Canada. The company employs over 1,000 people.

Younger, digitally-native consumers seeking modern furniture (Joybird)

Joybird targets a millennial or millennial-influenced customer interested in customized selections, often with quick deliveries, sometimes as fast as seven to 10 days. The business model is B2C, offering custom-made and curated furniture.

• Joybird delivered sales in the third quarter of fiscal 2025 were $37 million.
• Joybird sales declined in the quarters ending July 26, 2025, and October 25, 2025.
• Monthly revenue for Joybird in November 2025 was reported at $11m on its domain joybird.com.
• The company operates 13 physical retail locations as of July 2025.

Major national and regional third-party furniture retailers

This group is captured by the Wholesale segment, which serves compatible strategic partners. The core North America La-Z-Boy wholesale business is a key driver here.

• Wholesale segment delivered sales for the quarter ending October 25, 2025, increased 2% to $369 million.
• Wholesale segment delivered sales for the quarter ending July 26, 2025, increased 1% to $353 million.
• Wholesale segment delivered sales for the quarter ending April 26, 2025, increased 2% to $402 million.

Home renovators and interior design professionals

This group interacts with La-Z-Boy Incorporated through its Retail segment, which emphasizes design sales, and through Joybird, which is shopped by interior designers.

Here's a quick look at the segment performance data for recent quarters:

Segment	Period Ending	Delivered Sales Amount	Year-over-Year Change (Delivered Sales)
Retail	October 25, 2025 (Q2 FY26)	$222 million	Slightly up
Wholesale	October 25, 2025 (Q2 FY26)	$369 million	2% increase
Retail	April 26, 2025 (Q4 FY25)	Not explicitly stated, but sales increased 8% (Delivered)	8% increase (Delivered Sales)
Wholesale	April 26, 2025 (Q4 FY25)	$402 million	2% increase

The Retail segment saw its written same-store sales decrease by 2% for the quarter ending October 25, 2025. Still, the company completed a 15-store acquisition in the southeast U.S. region, adding an estimated $80 million in annual Retail sales, approximately $40 million net to the enterprise.

La-Z-Boy Incorporated (LZB) - Canvas Business Model: Cost Structure

The Cost Structure for La-Z-Boy Incorporated in late 2025 is heavily influenced by its vertically integrated model, balancing manufacturing, wholesale distribution, and company-owned retail expansion. You need to watch the fixed cost leverage, especially as the Retail segment carries a higher inherent SG&A load.

Cost of Goods Sold (COGS) and Manufacturing Base

The Cost of Goods Sold directly relates to the production of upholstery, casegoods, and accessories. For the fiscal year ending April 26, 2025 (FY2025), the company reported total Sales of $2,109,207 thousand. The Gross Profit for the same period was $926,418 thousand, which aligns with the required Gross Margin of 43.9% for FY2025. This margin saw an 80 basis point increase compared to the prior year, driven by a slight shift in product mix toward higher margin items.

Key components of the Cost of Sales for the full year ended April 26, 2025, were:

• Cost of sales: $1,182,789 thousand.
• Gross profit: $926,418 thousand.

Selling, General, and Administrative (SG&A) Expenses

SG&A expenses reflect the costs of operating the growing Retail segment, which includes acquisitions of independently owned La-Z-Boy Furniture Galleries® stores and new store openings. Total SG&A expense for FY2025 was $770,000 thousand. This resulted in SG&A expenses as a percentage of sales increasing by 150 basis points in FY2025 compared to the prior year, primarily due to higher selling expenses and fixed costs associated with this retail growth strategy.

Capital Expenditures (CapEx)

Investment in physical assets supports the retail footprint and manufacturing base. Cash used for capital expenditures in FY2025 totaled $74.3 million. This spending was primarily allocated to the La-Z-Boy Furniture Galleries® network for new stores and remodels, alongside necessary manufacturing-related investments and market showroom upgrades.

Labor Costs and Scale

Labor is a significant cost driver across both North American production and the retail sales force. While specific dollar amounts for total labor costs aren't isolated in the top-line summaries, the scale of the workforce provides context. Estimates place the total employee count around 10,600 to 12,800 individuals. Based on the TTM revenue of $2.11 billion, the implied revenue per employee is approximately $489,691, which helps benchmark the efficiency of this large labor pool.

The structure of these costs can be summarized:

Cost Category	FY2025 Financial Amount (in thousands, unless noted)	Context/Driver
Sales (Revenue)	$2,109,207	Consolidated delivered sales for FY2025.
Cost of Sales (COGS)	$1,182,789	Direct cost to produce goods sold.
Gross Margin Percentage	43.9%	Required figure; up 80 basis points year-over-year.
SG&A Expense	$770,000	Increased 150 basis points as a percentage of sales due to retail expansion.
Capital Expenditures (CapEx)	$74.3 million	Primarily for La-Z-Boy Furniture Galleries® new stores and remodels.
Estimated Employees	12,800	Scale of North American production and retail staff base.

Manageable Costs Associated with Supply Chain Redesign

The company is actively managing costs related to supply chain transformation, including distribution network redesign, which is expected to be a focus for CapEx in FY2026. For FY2025, specific charges related to supply chain optimization were recorded as adjustments, with one period showing $3,247 thousand in such charges. Management has characterized the friction costs related to these ongoing portfolio and supply chain optimizations as manageable, despite them being a factor in near-term margin pressure.

• Supply chain optimization charges (Q4 FY2025 adjustment): $3,247 thousand.
• Supply chain redesign is a key expected CapEx driver for fiscal 2026.
• Friction costs are being incurred to achieve long-term efficiency gains.

La-Z-Boy Incorporated (LZB) - Canvas Business Model: Revenue Streams

You're looking at how La-Z-Boy Incorporated actually brings in the money, which is a mix of making it and selling it directly. This vertically integrated approach is key to their model.

The total picture for the full Fiscal Year 2025 shows consolidated delivered sales totaled $2.1 billion. That's the top-line number for the year ending April 26, 2025.

The revenue streams are clearly segmented across their different channels. Here are the main ways La-Z-Boy Incorporated generates that $2.1 billion:

• Wholesale sales of La-Z-Boy and England branded furniture.
• Retail sales from company-owned La-Z-Boy Furniture Galleries.
• E-commerce sales from Joybird and La-Z-Boy.com.

For the full fiscal year 2025, the retail segment sales increased 5% in FY2025, outpacing wholesale growth of 2%. That tells you where the momentum was for the year.

To give you a clearer view of the components, here's a look at the most recent quarterly sales figures we have, which helps illustrate the relative size and growth of these streams:

Revenue Stream Component	FY2025 Q4 Delivered Sales Amount	FY2025 Full Year Growth Rate
Consolidated Delivered Sales	$571 million	3% (Year-over-year)
Retail Segment Delivered Sales	$247 million	5%
Wholesale Segment Delivered Sales	$402 million	2%
Joybird Delivered Sales Growth	Not specified for Q4	5%

The Retail segment is a significant driver, not just through its existing footprint but also through expansion. As of the end of Fiscal Year 2025, the company-owned La-Z-Boy Furniture Galleries® network stood at 203 stores, representing 55% of the total network. The growth in the retail channel is fueled by both organic growth and acquisitions; for instance, the Retail segment delivered sales increased 8% in the fourth quarter, primarily from new and acquired stores.

The Wholesale segment still moves a lot of product, manufacturing for the Furniture Galleries® and other retail channels, with its core North America La-Z-Boy wholesale business showing growth. Even with a significant customer transition impacting international wholesale, the segment still managed a 2% increase in delivered sales for the full year.

E-commerce is captured across these segments, notably through Joybird, which saw its delivered sales increase by 5% in Fiscal Year 2025, and La-Z-Boy.com, which supports the Retail segment.

You should note the following about the revenue generation:

• Wholesale sales include England Furniture Co. products.
• Retail segment growth in FY2025 was driven by new and acquired stores.
• The company is focused on its core North America La-Z-Boy wholesale business.
• The company returned $113 million to shareholders through dividends and repurchases in FY2025.

Finance: draft 13-week cash view by Friday.