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La-Z-Boy(LZB Quote) slashed its second-quarter earnings projection Thursday due to weaker-than-expected sales volume, particularly within its retail segment.
The furniture maker expects to earn 1 cent to 4 cents a share for the quarter ending Oct. 28, down from its earlier forecast of 11 cents to 15 cents a share. Analysts polled by Thomson First Call predict earnings of 12 cents a share.
A year earlier, La-Z-Boy recorded a loss of 12 cents a share, including a 10-cent charge related to the closure of a Canadian upholstery plant. ...
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