La-Z-Boy Incorporated

La-Z-Boy Incorporated

La-Z-Boy Incorporated

Overview
Date Founded

1941

Headquarters

1284 North Telegraph Road,Monroe, MI 48162-5138

Employees (Worldwide)

9,000

Industries

Furniture
Industrial Machinery & Manufacturing
Other Consumer Durables

Company Description

La-Z-Boy, Inc. is a manufacturer, marketer, importer, distributor and retailer of upholstery products. It also imports, distribute and retail accessories and casegoods furniture products. The company operates through its segments: Upholstery, Casegoods and Retail. The Upholstery segment manufactures or imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans and sleeper sofas. The Casegoods segment includes bedroom sets, dining room sets, entertainment centers and occasional pieces. The Retail segment primarily sells upholstered furniture, in addition to some casegoods and other accessories, to the end consumer through the retail network. La-Z-Boy was founded by Edward M. Knabusch and Edwin J. Shoemaker in 1941 and is headquartered in Monroe, MI.

Contact Data
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Executives & Employees

President & Chief Executive Officer

Chief Financial Officer & Senior Vice President

Senior Vice President & Chief Operating Officer

Chief Information Officer & Vice President

Chief Accounting Officer, Vice President & Corporate Controller

Chief Human Resources Officer

President, Kincaid Furniture Company Inc

Director-Investor Relations & Communications

Senior Vice President

Senior Vice President, Chief Commercial Officer & President, International

Board of Directors

President & Chief Executive Officer at La-Z-Boy Incorporated

President at High Point University

Senior Advisor at Crestview LLC

Professional at La-Z-Boy Incorporated

Chief Financial Officer & Executive Vice President at Foot Locker, Inc.

Professional at La-Z-Boy Incorporated

Of Counsel at Nave & Cortell LLP

Professional at Abercrombie & Fitch Co.

Former Chairman & Chief Executive Officer at USI, Inc. (Connecticut)

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Owners & Shareholders
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Silvercrest Asset Management Group is an independent, employee-owned, registered investment advisor which provides asset management and family office services to families and select institutional investors. Silvercrest combines the client-focused service which was the hallmark of private banks and investment counsel firms in an earlier age with state of the art theories of portfolio construction, risk management and diversification. Silvercrest's professionals have dedicated their careers to wealth management and our Managing Directors, who average more than 25 years of wealth management experience, have advised their clients through the boom of bull markets and the gloom of bear markets. We are not swayed by market manias. We are only interested in seeing our clients' assets invested in a manner consistent with their tolerance for risk. Silvercrest currently advises on $11.2 billion* for a clientele comprised primarily of families, as well as endowments, foundations and other institutional investors. Silvercrest's family office, advisory and investment capabilities are available to clients interested in investing substantial assets. Silvercrest is free from the numerous conflicts of interest inherent to larger organizations. Our size, our employee ownership and our collegial culture-coupled with the spirit, camaraderie and character of our organization-stand in sharp contrast to much of Wall Street and the financial services industry. We enjoy working with one another and we enjoy working with our clients. The quality, integrity and independence of our advice, coupled with our unwavering commitment to client service, sets us apart in a crowded field.

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Botty Investors' investment philosophy is based on the principles of benchmark free, valuation intensive, real return asset allocation. They seek to meet their clients' objectives through the application of value-oriented investment strategies and will reduce exposure or avoid asset classes if warranted by price and other relevant risks. The firm adheres to diversification to maintain flexibility in order to manage through uncertain economic times and with the goal to preserve capital. Botty Investors utilizes traditional public equity and fixed income investments, but also completes asset allocation through the use of alternative investment strategies. Botty Investors specializes in blending traditional and alternative investments to accomplish clients' portfolio goals. The primary alternative strategies they use for qualified clients include: Options and Derivative Based Strategies; Event Driven and Relative Value Strategies; Participating Loan Strategies; Long/Short Equity Strategies; Energy, Mining, Soft Commodities and Other Natural Resource Strategies; Real Estate Strategies; and Private Equity Investments.

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Smith, Graham & Co. Investment Advisors, L.P. is an SEC registered investment advisory firm. Founded over twenty years ago, we specialize in managing fixed income and equity assets for institutional clients. Smith Graham’s mission is to provide superior investment management services which surpass client objectives while adhering to the highest standards of discipline and integrity. We recognize that the success of our firm is based on our ability to deliver consistent investment outperformance to our clients. The business model that we employ to excel at meeting our clients' investment goals and objectives has four cornerstones. The first cornerstone is our commitment to attracting the brightest and most experienced professionals in the industry. The second cornerstone is our investment teams' adherence to investment philosophies that are well articulated and relevant to the actual workings of the world's bond and stock markets. The third cornerstone is our disciplined and balanced approach to developing investment strategies. The final cornerstone is our ability to implement our strategies through investment processes that are practical and repeatable. Our Partnership Perspective is the centerpiece of our competitive strategy and it gives us an edge in the marketplace where investment managers traditionally operate solely as vendors of performance. Our commitment, in each client relationship, is to elevate our level of responsiveness and understanding of specific objectives to that of a partner. We see ourselves as an extension of our clients' operations where we provide, in addition to performance, significant depth of investment management talent and experience, versatility, and best in class client service. One of the nation's largest minority-owned institutional investment managers, Smith Graham manages approximately $5 billion in assets for a broadly diversified client base.

Recent Transactions
Details Hidden

La-Z-Boy Incorporated purchases Ebco, Inc. /9 Arizona Stores from Ebco, Inc.

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La-Z-Boy Incorporated purchases Stitch Industries, Inc.

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Bauhaus USA, Inc. /Management purchases Bauhaus USA, Inc. from La-Z-Boy Incorporated

Insider Transactions
Details Hidden
Transaction Advisors
Accountant

Advised onLa-Z-Boy Incorporated purchases Bauhaus USA, Inc.

Investment Advisor

Advised onHancock Park Associates, Inc. purchases American of Martinsville, Inc. from La-Z-Boy Incorporated

Legal Advisor

Advised onLa-Z-Boy Incorporated purchases Centurion Furniture Plc

Advisors & Consultants
Legal Advisor

Of Counsel at Miller Canfield PLC

Clients

Amazon.com, Inc. engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca. The International segment offers retail sales of consumer products and subscriptions through internationally-focused websites. The Amazon Web Services segment involves in the global sales of compute, storage, database, and AWS service offerings for start-ups, enterprises, government agencies, and academic institutions. The company was founded by Jeffrey P. Bezos in July 1994 and is headquartered in Seattle, WA.

Berkshire Hathaway, Inc. is engaged in the provision of property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing, and services. It operates through following segments: GEICO, General Re, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC, Berkshire Hathaway Energy, McLane Company, Manufacturing, Service and Retailing, and Finance and Financial products. The GEICO segments involves in underwriting private passenger automobile insurance mainly by direct response methods. The General Re offers underwriting excess-of-loss, quota-share, and facultative reinsurance. The Berkshire Hathaway Reinsurance Group segment consists of underwriting excess-of-loss and quota-share reinsurance for insurers and reinsurers. The Berkshire Hathaway Primary Group segment comprises of underwriting multiple lines of property and casualty insurance policies. The BNSF segment operates railroad systems in North America. The Berkshire Hathaway Energy segments deals with regulated electric and gas utility, including power generation and distribution activities, and domestic real estate brokerage and brokerage franchisor. The McLane Company segment offers wholesale distribution of groceries and non-food items. The Manufacturing segment includes industrial and end-user products, building products, and apparel. The Service and Retailing segment involves providing fractional aircraft ownership programs, aviation pilot training, electronic components distribution, and retailing. The Finance and Financial Products segment includes manufactured housing and consumer financing; transportation equipment, manufacturing and leasing; and furniture leasing. The company was founded by Oliver Chace in 1839 and is headquartered in Omaha, NE.

Wayfair, Inc. engages in an online home furnishing store. It offers a selection of home furnishings and decor across all styles and price points. It operates through the U.S. and International segments. The U.S. segment consists of amounts earned through product sales through the Company's five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through products sales in international sites. The company was founded by Steven K. Conine and Niraj S. Shah in May 2002 and is headquartered in Boston, MA.

Key Stats and Financials As of 2018
Market Capitalization
$1.58B
Total Enterprise Value
$1.27B
Earnings Per Share
$1.67
Revenue
$1.58B
EBITDAMargin
10.19%
Enterprise Value Sales
0.8x
Enterprise Value EBITDAOperating
7.88x
TEVNet Income
15.79x
Debt TEV
0x
Net Profit
$80.5M
Total Debt
$422K
Total Equity
$625M
EBITDA
$161M
Three Year Compounded Annual Growth Rate Of Revenue
3.58%
Five Year Compounded Annual Growth Rate Of Revenue
3.52%
Investments
Details Hidden

Floyd Design LLC manufactures household furniture. The company was founded by Kyle Hoff and Alexander O'Dell in 2013 and is headquartered in Detroit, MI.

Suppliers
Culp, Inc. Wholesale: Consumer Non-Durables/Sundries | High Point, North Carolina

With four decades of innovation and quality, Culp (NYSE: CFI) supplies a wide range of mattress and upholstery fabrics across the globe. From our headquarters in High Point, NC, we carefully manage a fully integrated platform of manufacturing and distribution facilities strategically located in the U.S., China, Canada and Poland. Our robust supply chain allows us to quickly respond to the needs of our customers. We deliver fashion-forward, stylish fabrics with broad appeal to the largest home furnishing retailers and manufacturers. Culp has evolved from a regional supplier to a global partner for a wide range of customers. Founded by Robert G. Culp, Jr. in 1972, Culp’s focus on continuous improvement in its manufacturing operations and a trend-savvy design team helps customers drive sales and grow market share on a global basis. At Culp, everything we do, from logistics to quality control, reflects a clear understanding of our customer’s business objectives

Leggett & Platt, Inc. Industrial Machinery & Manufacturing | CARTHAGE, MO

Leggett & Platt, Inc. engages in the manufacture and distribution of furniture and engineered components; and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Residential Products, Industrial Products, Furniture Products, and Specialized Products. The Residential Products segment supplies a variety of components and machinery used by bedding manufacturers in the production and assembly of their finished products. The Industrial Products segment supplies steel rod and drawn steel wire to its other operations and to external customers. The Furniture Products segment supplies a wide range of components for residential and work furniture manufacturers, as well as select lines of private-label finished furniture, adjustable bed bases, fashion beds, and bed frames. The Specialized Products segment supplies lumbar support systems, seat suspension systems, motors and actuators, and control cables used by automotive manufacturers. This segment also produce and distribute tubing and tube assemblies for the aerospace industry and engineered hydraulic cylinders used in the material-handling and construction industries. The company was founded J. P. Productsand C. B. Platt in 1883 and is headquartered in Carthage, MO.

Bazaarvoice, Inc. Holding Companies | Austin, TX

Bazaarvoice is a Software as a Service (SaaS) company that turns social media into social commerce for the world's best global brands by enabling authentic customer-powered marketing. We achieve that by first letting consumers create and share ratings, reviews, questions, answers, and stories about products and brands on client websites. We then syndicate that content across the Web and through the channel to reach shoppers wherever they are. This customer-generated content has a tremendously positive influence on purchase decisions. It is also rich with customer intelligence, which we analyze and provide to our clients so they can make real-time, information-based decisions that affect all aspects of their business — marketing, product R&D, and operations. This strategy of putting customers at the center of your business helps you achieve measurable results across your entire enterprise. Brett Hurt, Vice Chairman, and Brant Barton, General Manager of Media Solutions, founded Bazaarvoice in 2005. Headquartered in Austin, the company has offices in Amsterdam, London, Munich, New York, Paris, San Francisco, Stockholm, and Sydney.

Competitors
Amazon.com, Inc. Retail: Other - Seattle, Washington

Amazon.com, Inc. engages in the provision of online retail shopping services. It operates through the following business segments: North America, International, and Amazon Web Services (AWS). The North America segment includes retail sales of consumer products and subscriptions through North America-focused websites such as www.amazon.com and www.amazon.ca. The International segment offers retail sales of consumer products and subscriptions through internationally-focused websites. The Amazon Web Services segment involves in the global sales of compute, storage, database, and AWS service offerings for start-ups, enterprises, government agencies, and academic institutions. The company was founded by Jeffrey P. Bezos in July 1994 and is headquartered in Seattle, WA.

Target Corp. Retail: Discount - MINNEAPOLIS, MINNESOTA

In 1969, the Detroit-based J.L. Hudson Company merged with the Dayton Corporation to form the Dayton-Hudson Corporation

The Home Depot Retail: Home Improvement - Atlanta , GA

Home Depot, Inc. is a home improvement retailer, which engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products, and decor products. It offers home improvement installation services and tool and equipment rental. The company was founded by Bernard Marcus, Arthur M. Blank, Kenneth Gerald Langone and Pat Farrah on June 29, 1978 and is headquartered at Atlanta, GA.

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