# EDGAR Filing Document

**Accession Number:** 0000057131
**File Stem:** 0000057131-25-000056
**Filing Date:** 2025-7
**Character Count:** 15286
**Document Hash:** d3edd50169b015079114e2ec527c6722
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000057131-25-000056.hdr.sgml**: 20250714

**ACCESSION NUMBER**: 0000057131-25-000056

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250714

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250714

**DATE AS OF CHANGE**: 20250714

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LA-Z-BOY INC
- **CENTRAL INDEX KEY:** 0000057131
- **STANDARD INDUSTRIAL CLASSIFICATION:** HOUSEHOLD FURNITURE [2510]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 380751137
- **STATE OF INCORPORATION:** MI
- **FISCAL YEAR END:** 0426

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-09656
- **FILM NUMBER:** 251121903

**BUSINESS ADDRESS:**
- **STREET 1:** ONE LA-Z-BOY DRIVE
- **CITY:** MONROE
- **STATE:** MI
- **ZIP:** 48162
- **BUSINESS PHONE:** 7342421444

**MAIL ADDRESS:**
- **STREET 1:** ONE LA-Z-BOY DRIVE
- **CITY:** MONROE
- **STATE:** MI
- **ZIP:** 48162

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LA Z BOY CHAIR CO
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? lzb-20250714

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION** 

**WASHINGTON, D.C. 20549** 

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

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| | | |
|:---|:---|:---|
| | Date of Report (Date of earliest event reported): | **July 14, 2025** |
| **LA-Z-BOY INCORPORATED** | **LA-Z-BOY INCORPORATED** | **LA-Z-BOY INCORPORATED** |
| (Exact name of registrant as specified in its charter)  | (Exact name of registrant as specified in its charter)  | (Exact name of registrant as specified in its charter)  |

---

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| | | |
|:---|:---|:---|
| **Michigan** | **1-9656** | **38-0751137** |
| (State or other jurisdiction of | (Commission | (IRS Employer |
| incorporation) | File Number) | Identification No.) |

---

---

| | | | |
|:---|:---|:---|:---|
| **One La-Z-Boy Drive,** | **Monroe,** | **Michigan** | **48162-5138** |
| (Address of principal executive offices) | (Address of principal executive offices) | (Address of principal executive offices) | (Zip Code) |

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Registrant's telephone number, including area code (734) 242-1444

N/A <br> &nbsp;&nbsp;&nbsp;&nbsp; (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, $1.00 par value | LZB | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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**Item 7.01 Regulation FD Disclosure.** 

On July 14, 2025, La-Z-Boy Incorporated (the "Company") issued a news release announcing that it had entered into an asset purchase agreement (the "Asset Purchase Agreement") with Atlanta Furniture Galleries, LLC (the "Seller"), certain of Seller's subsidiaries, and Seller's principals, Thomas and Amy DeGoey, pursuant to which the Company has agreed to acquire from the Seller certain assets related to a La-Z-Boy Furniture Galleries<sup>®</sup> business comprised of 15 stores and four warehouses in the southeast region of the United States. Pursuant to the Asset Purchase Agreement, the obligations of the Company and the Seller to complete the transactions are subject to customary closing conditions.

In the news release, separately, the Company also provided an update on its previously-issued outlook for financial results for the fiscal first quarter ending July 26, 2025.

A copy of the news release is attached to this Current Report on Form 8-K as Exhibit 99.1. The information furnished pursuant to this Item 7.01 and the related exhibit (Exhibit 99.1) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of the Exchange Act, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

**Item 9.01 Financial Statements and Exhibits.** 

&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp; The following exhibits are furnished as part of this report:

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| | |
|:---|:---|
| **Description** | **Description** |
| 99.1 | <u>[News Release Dated July 14, 2025](pressrelease.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

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**SIGNATURES**

&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 LA-Z-BOY INCORPORATED <br> (Registrant)

Date: July 14, 2025

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| |
|:---|
| BY: /s/ Raphael Z. Richmond |
| Raphael Z. Richmond<br>Vice President, General Counsel and Chief Compliance Officer |

---

## Exhibit 99.1

**EXHIBIT 99.1**

![imagea.jpg](imagea.jpg)

**La-Z-Boy Incorporated to Acquire La-Z-Boy Furniture Galleries**<sup>®</sup> **Stores in Southeast Region;** 

**15-Store Acquisition Brings Company-Owned Count to 220, 60% of Total Network**

**<u>Key Highlights:</u>**

• Significant acquisition of 15-store network in GA, FL, and TN with ~$80 million in annual sales, expected to close in late October

• Adds designated market areas (DMAs) that will enable further new store growth in highly desirable southeast region

• Largest independently owned La-Z-Boy Furniture Galleries<sup>®</sup> acquisition in La-Z-Boy Incorporated history

• Separately, La-Z-Boy Incorporated updates fiscal first quarter sales and adjusted operating margin outlook<sup>(1)</sup>

MONROE, Mich., July 14 2025 -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the retail and manufacture of residential furniture, today announced the signing of an asset purchase agreement to acquire a La-Z-Boy Furniture Galleries<sup>®</sup> store network in the southeast region of the United States from Atlanta Furniture Galleries, LLC, owned by Tom and Amy DeGoey. The DeGoey business is the second-largest independent operator within the entire La-Z-Boy Furniture Galleries<sup>®</sup> store network, with 15 stores, four warehouses, and approximately $80 million in annual sales.

The acquisition will provide continuity for the highly successful southeast-based business. Once complete, the 15 stores will become part of La-Z-Boy Incorporated's Retail reporting segment, will be immediately accretive to sales and profits, and will bring the total company-owned store count to 220, 60% of the entire La-Z-Boy Furniture Galleries<sup>®</sup> store network. The transaction is expected to close in late October 2025, subject to customary closing conditions.

Melinda D. Whittington, Board Chair, President and Chief Executive Officer of La-Z-Boy Incorporated, said, "We are pleased to acquire this business in the rapidly growing and strategic southeast region. These stores are in core markets for us, including Atlanta, Orlando, Jacksonville, and Knoxville, and will pave the way for additional growth. We are grateful to Tom and Amy for their commitment to the company over the last two decades, developing one of the most successful independent La-Z-Boy licensee businesses. As strong stewards of our La-Z-Boy brand, they have made meaningful contributions, including innovative retail practices, an updated store network, and a strong group of employees. I would like to personally take the opportunity to thank Tom, who has led the business since 2004 and, along with Amy, was recognized in 2024 as our Retail Partner of the Year for the second time. We wish Tom, Amy, and their family all the best in their next phase of life."

Tom DeGoey, Chief Executive Officer of Atlanta Furniture Galleries, LLC, said, "I am grateful to my family and colleagues for helping grow this business over the years. It has been a privilege to work with this incredible team of talented, passionate, and hard-working individuals. La-Z-Boy will have an excellent team of leaders to continue the management of day-to-day operations. I am proud of the company we have built together and I am confident that our long-time partner, La-Z-Boy Incorporated, will propel the business to new heights. It has been a pleasure to work with the La-Z-Boy Incorporated team over the years, as we have expanded the La-Z-Boy brand together."

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Whittington added, "This significant acquisition is another example of creating our own momentum in an increasingly challenging macro environment and investing for our next 100 years despite current headwinds. This is another proof point of La-Z-Boy Incorporated continuing to deliver on its Century Vision objectives and growing Retail and direct to consumer. Our vertically integrated model is a key differentiator, and we have the opportunity to further leverage the combined margin associated with earning sales and profit on both Wholesale and Retail sales. We expect a smooth and seamless transition and look forward to continuing to inspire and delight our consumers."

The transaction is expected to be funded with cash on hand. Additional terms of the deal were not disclosed. La-Z-Boy Incorporated will provide additional financial information relating to the transaction in its fiscal year 2026 second-quarter results in November 2025. As La-Z-Boy Incorporated is already manufacturing for the acquired business and therefore, recording a portion of the annual sales in its Wholesale segment, the acquisition is currently expected to contribute approximately $40 million of additional sales annually to the company on a consolidated basis.

Separately, in light of the increasingly challenging consumer and macro environment, the company now expects its fiscal first quarter sales and adjusted operating margin<sup>(1)</sup> to be around the low end of the ranges in the previously-issued outlook for the period ending July 26, 2025.

**<u>Investor Relations Contact</u>:**

Mark Becks, CFA, (734) 457-9538

mark.becks@la-z-boy.com

**<u>Media Contact</u>:**

Cara Klaer, (734) 598-0652

cara.klaer@la-z-boy.com

**<u>About La-Z-Boy</u>:**

La-Z-Boy Incorporated brings the transformational power of comfort to people, homes, and communities around the world - a mission that began when its founders invented the iconic recliner in 1927. Today, the company operates as a vertically integrated furniture retailer and manufacturer, committed to uncompromising quality and compassion for its consumers.

The Retail segment consists of over 200 company-owned La-Z-Boy Furniture Galleries<sup>®</sup> stores and is part of a broader network of nearly 370 La-Z-Boy Furniture Galleries<sup>®</sup> that, with La-Z-Boy.com, serve customers nationwide. Joybird<sup>®</sup>, an e-commerce retailer and manufacturer of modern upholstered furniture, has 13 stores in the U.S. In the Wholesale segment, La-Z-Boy manufactures comfortable, custom furniture for Furniture Galleries<sup>®</sup> and a variety of retail channels, England Furniture Co. offers custom upholstered furniture, and casegoods brands Kincaid<sup>®</sup>, American Drew<sup>®</sup>, and Hammary<sup>®</sup> provide pieces that make every room feel like home. To learn more, please visit: https://www.la-z-boy.com/.

**<u>Notes</u>:**

<sup>(1)</sup> *This reference to* ***adjusted operating margin*** *for a future period is an adjusted financial measure. In this press release, we have not provided a reconciliation of adjusted operating margin for a future period to the most directly comparable GAAP financial measure because such reconciliation cannot be provided without unreasonable efforts.*

**<u>Cautionary Note Regarding Forward-Looking Statements</u>**:

This news release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. Generally, forward-looking statements include information concerning expectations, projections or trends relating to our results of operations, financial results,

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financial condition, strategic initiatives and plans, acquisitions, expenses, dividends, share repurchases, liquidity, use of cash and cash requirements, borrowing capacity, investments, future economic performance, and our business and industry.

The forward-looking statements in this press release are based on certain assumptions and currently available information and are subject to various risks and uncertainties, many of which are unforeseeable and beyond our control. Additional risks and uncertainties that we do not presently know about or that we currently consider to be immaterial may also affect our business operations and financial results. Our actual future results and trends may differ materially depending on a variety of factors, including, but not limited to, the risks and uncertainties discussed in our Fiscal 2025 Annual Report on Form 10-K and other factors identified in our reports filed with the Securities and Exchange Commission (the "SEC"), available on the SEC's website at www.sec.gov. Given these risks and uncertainties, you should not rely on forward-looking statements as a prediction of actual results. We are including this cautionary note to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason.