La-Z-Boy Incorporated (LZB): Modelo de negócios Canvas [Jan-2025 Atualizado]

No mundo em constante evolução do design e manufatura de móveis, o La-Z-Boy incorporou estandes como um farol de inovação e conforto, transformando espaços de estar com suas soluções icônicas de assentos. Com um 90 anos Legado de criar móveis premium, esse titã da indústria desenvolveu meticulosamente um modelo de negócios que combina perfeitamente o design de ponta, parcerias estratégicas e abordagens centradas no consumidor. De seus revolucionários mecanismos reclináveis ​​às suas expansivas redes de distribuição, o La-Z-Boy aperfeiçoou a arte de fornecer não apenas móveis, mas experiências de conforto personalizadas que ressoam com proprietários e entusiastas do design nos Estados Unidos.

La-Z-Boy Incorporated (LZB)-Modelo de negócios: Parcerias-chave

Varejistas e distribuidores de móveis em todo o país

A La-Z-Boy mantém parcerias com aproximadamente 360 ​​lojas operadas pela empresa e 170 revendedores independentes nos Estados Unidos e no Canadá a partir de 2023.

Tipo de parceria	Número de locais	Cobertura geográfica
Lojas operadas pela empresa	360	Estados Unidos
Revendedores independentes	170	Estados Unidos e Canadá

Fornecedores de fabricação

O La-Z-Boy fontes de materiais de vários fornecedores estratégicos especializados em componentes-chave.

• Componentes de madeira provenientes de fornecedores de florestas sustentáveis ​​certificadas
• Fornecedores de tecido que fornecem desempenho e têxteis decorativos
• Metal Frame e Mechanical Component Manufacturers

Categoria de fornecedores	Valor anual de compras	Número de fornecedores primários
Materiais de madeira	US $ 42,3 milhões	12 fornecedores
Materiais de tecido	US $ 35,7 milhões	8 fornecedores
Componentes de metal	US $ 28,5 milhões	6 fornecedores

Colaboração de design

O La-Z-Boy colabora com 15 designers de móveis independentes anualmente para aprimorar a inovação de produtos.

Parcerias de varejo

Parcerias estratégicas com os principais varejistas de móveis de casa incluem:

• Ashley Homestore
• Quartos para ir
• NEBRASKA MONITORIA MART
• Costco Wholesale

Parceiro de varejo	Duração da parceria	Volume anual de vendas
Ashley Homestore	Mais de 10 anos	US $ 127,6 milhões
Quartos para ir	8 anos	US $ 93,4 milhões
NEBRASKA MONITORIA MART	12 anos	US $ 68,2 milhões

La-Z-Boy Incorporated (LZB)-Modelo de negócios: Atividades-chave

Design de móveis e desenvolvimento de produtos

A La-Z-Boy investiu US $ 19,4 milhões em pesquisa e desenvolvimento no ano fiscal de 2023. A empresa mantém vários centros de design na América do Norte.

Localização do design	Foco primário
Monroe, Michigan	Centro de Design da sede corporativa
Dayton, Tennessee	Design de móveis personalizados
Monterrey, México	Colaboração Internacional de Design

Fabricação de poltronas reclináveis, sofás e cadeiras

A La-Z-Boy opera 8 instalações de fabricação nos Estados Unidos e no México.

• Capacidade total de fabricação: aproximadamente 12.000 unidades de móveis por semana
• Locais de fabricação: Michigan, Tennessee, Mississippi, México
• Volume anual de produção: aproximadamente 624.000 unidades de móveis

Distribuição de varejo e atacado

A rede de distribuição inclui 360 lojas de propriedade da empresa e 1.400 locais independentes de revendedores a partir de 2023.

Canal de distribuição	Número de locais	Porcentagem de vendas
Lojas de propriedade da empresa	360	42%
Revendedores independentes	1,400	58%

Marketing e gerenciamento de marca

O La-Z-Boy alocou US $ 45,2 milhões para despesas de marketing no ano fiscal de 2023.

• Orçamento de marketing digital: US $ 12,3 milhões
• Publicidade da mídia tradicional: US $ 22,5 milhões
• Eventos e patrocínios promocionais: US $ 10,4 milhões

Atendimento ao cliente e suporte

O La-Z-Boy mantém uma equipe de atendimento ao cliente dedicada com vários canais de suporte.

Canal de suporte	Tempo médio de resposta
Suporte telefônico	12 minutos
Suporte por e -mail	24 horas
Chat online	5 minutos

La-Z-Boy Incorporated (LZB)-Modelo de negócios: Recursos-chave

Instalações de fabricação avançadas

O La-Z-Boy opera várias instalações de fabricação nos Estados Unidos:

Localização	Tipo de instalação	Capacidade de produção anual
Dayton, Tennessee	Planta de estofados	1,2 milhão de unidades
Newton, Mississippi	Fabricação de poltrona reclinável	1,5 milhão de unidades
Monterrey, México	Produção de móveis	0,8 milhão de unidades

Forte reputação da marca

Avaliação da marca e posicionamento do mercado:

• Valor da marca estimado em US $ 425 milhões
• Participação de mercado em móveis domésticos: 7,2%
• Reconhecimento da marca em 90% das famílias dos EUA

Tecnologia de mecanismo de reclinação proprietário

Detalhes do portfólio de tecnologia:

• 23 patentes ativas relacionadas a mecanismos de reclinação
• Investimento de P&D: US $ 18,2 milhões em 2023
• Mecanismos de design exclusivos em 65% da linha de produtos

Equipes de design e engenharia qualificadas

Composição da força de trabalho:

Departamento	Total de funcionários	Graus avançados
Equipe de design	142	38 funcionários
Equipe de engenharia	96	52 funcionários

Extensa rede de distribuição

Distribution Channel Breakdown:

• Locais totais de varejo: 360
• Lojas de propriedade da empresa: 155
• Rede de revendedores independentes: 205
• Cobertura da plataforma de vendas on -line: 48 estados

La-Z-Boy Incorporated (LZB)-Modelo de negócios: proposições de valor

Soluções de móveis confortáveis ​​e inovadoras

A La-Z-Boy registrou vendas líquidas de US $ 2,12 bilhões no ano fiscal de 2023. A inovação de móveis da empresa se concentra em tecnologias avançadas de conforto e recursos de design.

Categoria de produto	Receita anual de vendas	Quota de mercado
Poltronas reclináveis	US $ 785 milhões	42.3%
Móveis estacionários	US $ 612 milhões	33.7%
Móveis de couro	US $ 423 milhões	24%

Produtos de assentos duráveis ​​e de alta qualidade

La-Z-Boy mantém a Garantia de 5 anos em quadros e mecanismos de móveis, demonstrando comprometimento da durabilidade do produto.

• Vida média do produto: 15-20 anos
• Controle de qualidade de fabricação: certificado ISO 9001
• Teste de durabilidade do material: excede os ciclos de desgaste padrão da indústria

Opções de móveis personalizáveis

As ofertas de personalização incluem mais de 200 opções de tecido e várias opções de configuração para poltronas e sofás.

Recurso de personalização	Opções disponíveis
Seleções de tecido	237 tecidos únicos
Tipos de couro	48 variações de couro
Configurações de tamanho	6 tamanhos padrão

Design ergonômico para conforto do consumidor

A La-Z-Boy investe US $ 42 milhões anualmente em pesquisa e desenvolvimento para melhorias no projeto ergonômico.

Marca confiável com mais de 90 anos de experiência em fabricação

Fundada em 1928, a La-Z-Boy manteve presença consistente no mercado com 360 locais e distribuição de varejo em 12 países.

• Reconhecimento da marca: 94% entre os consumidores de móveis
• Taxa de fidelidade do cliente: 68%
• Instalações de fabricação: 7 locais de produção

La-Z-Boy Incorporated (LZB)-Modelo de Negócios: Relacionamentos do Cliente

Atendimento ao cliente personalizado na loja

A La-Z-Boy opera 360 lojas de varejo de propriedade e independentes de empresas nos Estados Unidos a partir de 2023. A empresa emprega aproximadamente 6.500 associados de varejo treinados em atendimento ao cliente personalizado.

Métrica de atendimento ao cliente	Dados de desempenho
Tempo médio de interação do cliente na loja	45-60 minutos por cliente
Horário de treinamento para representantes de atendimento ao cliente	40 horas por ano por associado

Consulta de design on -line

A La-Z-Boy lançou uma plataforma abrangente de consulta de design digital em 2022, apoiando o planejamento virtual de salas e a personalização do produto.

• As sessões de consulta digital aumentaram 68% em 2023
• A ferramenta de design on -line abrange 95% do catálogo de produtos
• Duração média da consulta on -line: 30 minutos

Programas de fidelidade para clientes recorrentes

O programa de fidelidade de La-Z-Boy, introduzido em 2021, oferece benefícios exclusivos para clientes recorrentes.

Métrica do Programa de Fidelidade	2023 dados
Membros de fidelidade registrados	387.000 membros
Repetir taxa de compra do cliente	22,5% do total de vendas

Garantia e suporte pós-venda

O La-Z-Boy oferece cobertura abrangente de garantia para seus produtos de móveis.

• Garantia padrão: garantia limitada de 1 ano
• Opções de garantia estendidas disponíveis para compra
• Suporte ao cliente 24/7 através de canais de telefone e e -mail

Canais de envolvimento da mídia social e feedback do cliente

O La-Z-Boy mantém a presença ativa das mídias sociais em várias plataformas.

Plataforma de mídia social	Contagem de seguidores (2023)
Facebook	218.000 seguidores
Instagram	95.000 seguidores
Pinterest	42.000 seguidores

La-Z-Boy Incorporated (LZB)-Modelo de Negócios: Canais

Lojas de varejo de propriedade da empresa

A partir de 2023, a La-Z-Boy opera 155 lojas de varejo de propriedade da empresa nos Estados Unidos.

Tipo de loja	Número de locais	Tamanho médio da loja
Lojas de varejo de propriedade da empresa	155	5.500 pés quadrados.

Varejistas independentes de móveis

O La-Z-Boy mantém uma rede de aproximadamente 360 ​​varejistas independentes de móveis em todo o país.

• A rede de varejistas abrange todos os 50 estados dos EUA
• Os varejistas independentes representam 65% da distribuição total de móveis de La-Z-Boy

Plataforma online de comércio eletrônico

A plataforma de vendas on-line direta da La-Z-Boy gerou US $ 187,3 milhões em receita no ano fiscal de 2023.

Métricas de comércio eletrônico	2023 dados
Receita online	US $ 187,3 milhões
Porcentagem de vendas totais	12.4%

Redes de distribuição por atacado

O La-Z-Boy atende a mais de 1.200 contas de atacado na América do Norte.

• A distribuição por atacado cobre mercados comerciais e residenciais
• Presença por atacado internacional no Canadá e mercados globais selecionados

Catálogo e plataformas de marketing digital

O orçamento de marketing digital para 2023 foi de aproximadamente US $ 42,5 milhões.

Canal de marketing	Gasto anual
Marketing digital	US $ 42,5 milhões
Marketing de catálogo tradicional	US $ 3,2 milhões

La-Z-Boy Incorporated (LZB)-Modelo de negócios: segmentos de clientes

Proprietários de casas de classe média a alta

A partir do quarto trimestre de 2023, o La-Z-Boy tem como alvo os proprietários com renda familiar anual que varia de US $ 75.000 a US $ 150.000. A pesquisa de mercado indica que esse segmento representa 22,3% de sua base de clientes central.

Faixa de renda	Porcentagem de base de clientes	Gasto médio de móveis
$75,000 - $100,000	12.7%	$3,450
$100,000 - $150,000	9.6%	$4,750

Entusiastas de móveis que buscam conforto e qualidade

O reconhecimento da marca de La-Z-Boy entre os buscadores de qualidade dos móveis é de 78,5% em 2024.

• 87,3% priorize o conforto sobre o preço
• 62,4% dispostos a gastar prêmio para durabilidade
• Taxa de fidelidade do consumidor: 54,2%

Consumidores de decoração da casa

O segmento representa 35,6% da base total de clientes da La-Z-Boy em 2024.

Preferência no estilo de decoração	Quota de mercado
Contemporâneo moderno	42.3%
Tradicional	31.7%
Transitório	26%

Compradores de móveis residenciais e comerciais

O segmento comercial representa 17,5% da receita total em 2023.

• Instalações de saúde: 6,2% das vendas comerciais
• Escritórios corporativos: 5,8% das vendas comerciais
• Setor de hospitalidade: 5,5% das vendas comerciais

Faixas etárias 35-65 com renda disponível

Segmento demográfico primário com poder de compra significativo.

Faixa etária	Porcentagem de base de clientes	Investimento médio de móveis anuais
35-45	28.6%	$4,200
46-55	33.4%	$5,100
56-65	22.7%	$4,750

La-Z-Boy Incorporated (LZB)-Modelo de negócios: estrutura de custos

Aquisição de matéria -prima

Para o ano fiscal de 2023, La-Z-Boy relatou os seguintes detalhes de compra de matéria-prima:

Categoria de material	Gasto anual	Porcentagem do custo total
Madeira	US $ 42,6 milhões	28%
Tecido	US $ 36,8 milhões	24%
Espuma	US $ 29,3 milhões	19%
Componentes de metal	US $ 22,5 milhões	15%
Outros materiais	US $ 20,9 milhões	14%

Despesas de fabricação e produção

Custos de produção para o ano fiscal de 2023:

• Overplano de fabricação total: US $ 153,4 milhões
• Custos operacionais de fábrica: US $ 87,6 milhões
• Manutenção do equipamento: US $ 12,3 milhões
• Utilitários de instalações: US $ 8,2 milhões

Compensação de trabalho e funcionário

Despesas relacionadas ao trabalho para o ano fiscal de 2023:

Categoria de compensação	Custo total
Salários totais dos funcionários	US $ 321,7 milhões
Benefícios e seguro	US $ 62,4 milhões
Contribuições de aposentadoria e pensão	US $ 18,9 milhões

Custos de marketing e publicidade

Despesas de marketing para o ano fiscal de 2023:

• Orçamento total de marketing: US $ 45,6 milhões
• Publicidade digital: US $ 12,3 milhões
• Publicidade tradicional da mídia: US $ 22,1 milhões
• Feira de feira e eventos promocionais: US $ 11,2 milhões

Investimentos de pesquisa e desenvolvimento

Gastos de P&D para o ano fiscal de 2023:

Categoria de P&D	Valor do investimento
Despesas totais de P&D	US $ 22,7 milhões
Design de produto e inovação	US $ 15,4 milhões
Integração de tecnologia	US $ 7,3 milhões

La-Z-Boy Incorporated (LZB)-Modelo de negócios: fluxos de receita

Vendas de móveis de varejo

Para o ano fiscal de 2023, o La-Z-Boy registrou vendas líquidas totais de US $ 2,15 bilhões. A receita do segmento de varejo foi de US $ 1,46 bilhão, representando 67,9% da receita total da empresa.

Categoria de receita	Valor (2023)	Porcentagem de vendas totais
Vendas de móveis de varejo	US $ 1,46 bilhão	67.9%

Receita de distribuição por atacado

A receita do segmento de atacado para o ano fiscal de 2023 foi de US $ 688,4 milhões, representando 32,1% do total de vendas da empresa.

Recutação de receita por atacado	Valor (2023)
Distribuição de móveis por atacado	US $ 688,4 milhões

Serviços de design de móveis personalizados

A La-Z-Boy oferece serviços de design personalizados por meio de seus canais de varejo, gerando receita adicional por meio de opções de móveis personalizadas.

• Seleção de tecido personalizada
• Modificações de tamanho personalizado
• Configurações de couro personalizadas

Vendas de produtos online e na loja

As vendas de comércio eletrônico têm crescido, com a receita on-line aumentando 12,3% no ano fiscal de 2023 em comparação com o ano anterior.

Canal de vendas	Crescimento de receita
Vendas on -line	12,3% de aumento ano a ano
Vendas na loja	Canal de vendas primário restante

Manutenção de móveis e vendas de acessórios

As vendas de produtos de acessórios e manutenção contribuem com fluxos de receita adicionais, embora detalhes financeiros específicos não sejam divulgados publicamente.

• Planos de proteção de móveis
• Produtos de limpeza e manutenção
• Almofadas e peças de substituição

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.