Stock Track | La-Z-Boy Surges 7.47% Pre-Market on Strong Earnings, Dividend Hike, and Expansion Plans

Stock Track11-19

Shares of La-Z-Boy Incorporated (NYSE: LZB) are soaring 7.47% in pre-market trading on Wednesday, building on the previous day's 6.49% gain. The surge comes after the furniture retailer reported better-than-expected quarterly results, raised its dividend, and announced strategic growth initiatives.

La-Z-Boy's second-quarter fiscal 2026 earnings report, released after Tuesday's market close, exceeded analyst expectations. The company reported adjusted earnings per share of $0.71, significantly beating the consensus estimate of $0.61. Sales for the quarter came in at $522.48 million, slightly above expectations of $522.41 million. Despite modest overall sales growth of 0.3% year-over-year, La-Z-Boy managed to expand its margins, with the wholesale segment showing particular strength.

Investors were further encouraged by La-Z-Boy's strategic moves and positive outlook. The company announced a 10% increase in its quarterly dividend, signaling confidence in its financial health. Additionally, La-Z-Boy completed a 15-store acquisition in the southeast U.S. region, expected to add approximately $80 million in annual retail sales. The company also plans to optimize its portfolio by exiting non-core wholesale businesses and closing its U.K. manufacturing facility. Looking ahead, La-Z-Boy provided an optimistic forecast for the third quarter, projecting sales in the range of $525-545 million, representing growth of 1-4% year-over-year.

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