MONROE, MI -- La-Z-Boy Inc. (NYSE: LZB), a manufacturer and retailer of motion furniture and contract furnishings, reported that its first quarter 2012 fiscal year sales increased 6.4% to $220.1 million  compared to the same period last year.

La-Z-Boy reported net income attributable to La-Z-Boy Inc. of $45.5 million of which $43.4 million was attributable to a reduction of certain valuation reserves against the company's deferred tax assets. These results compare with a loss of $0.2 million fiscal 2011 first quarter.

La-Z-Boy said same-store written sales for its 306 La-Z-Boy Furniture Galleries store network increased 9.7% during that time frame.

Kurt Darrow, president and CEO of La-Z-Boy, said, "With the summer period being seasonally the most challenging for the industry, we were pleased with the sales increase we experienced in both our upholstery and retail segments, particularly in light of ongoing macroeconomic challenges. Importantly, we continued to improve performance in our company-owned retail segment and remain encouraged by the increase in same-store sales for the La-Z-Boy Furniture Galleries store network. As we move into what is historically a stronger fall selling season, we believe we are well positioned to improve our overall performance as we leverage our operating structure while building the company's market share."