La-Z-Boy highlights newly released FY2024 Impact Report
La-Z-Boy FY2024 Impact Report

La-Z-Boy says it FY2024 Impact Report is grounded in Century Vision, the company’s long-term business strategy that aims to elevate brand reach, strengthen enterprise capabilities, and drive profitable, sustainable growth in the lead-up to its 100th anniversary in 2027.

MONROE, Mich. — La-Z-Boy Inc., a manufacturer and retailer of residential furniture, released its fiscal year 2024 Impact Report: Preserving Our Heritage, Transforming for Tomorrow.

According to La-Z-Boy, No. 14 in the FDMC 300, the report details how sustainability is infused into its corporate strategy and operations as a core business principle, bolstered by its human-centered approach and intentional supply chain management practices to leave a positive impact on people, communities, and the planet.

“Our 2024 Impact Report is more than a reflection of our progress — it’s a testament to what we can achieve when we stay true to our values,” said Melinda Whittington, La-Z-Boy board chair, president and CEO. “Together, we share a continued commitment to transforming our world through comfort, and this purpose is reflected in everything we do. From our consumer focus to our human-centered approach in development of our employees, to the care we bring to our manufacturing processes and our communities, we are intentional about our impact and what it means for the future.”

Key highlights for the fiscal year 2024 report cited by La-Z-Boy include:

  • Received SBTi validation of the company’s near-term targets, which include a 64 percent reduction in Scope 1 emissions, a 62 percent reduction in Scope 2 emissions, and a 51 percent reduction in Scope 3 emissions by fiscal year 2032, advancing the company toward its 2050 net-zero goal.
  • Reached a 96 percent recycling rate for all non-hazardous waste and a 20 percent year-over-year reduction in the generation of hazardous waste.
    Renewable energy portfolio covered 75 percent of U.S. and 64 percent of global electricity consumption.
  • Company-wide adoption of the TranZform Initiative across all La-Z-Boy manufacturing facilities, highlighting six core initiatives intended to foster sustainability and employee empowerment, such as Problem-Solving Culture and Waste Walks.
  • The La-Z-Boy Foundation donated more than $1.4 million and, as the official furniture partner for the Ronald McDonald House Charities, La-Z-Boy Incorporated gifted over 16,000 pieces globally.
  • Preserved, restored, and rewilded the 120-acre plot surrounding the company’s World Headquarters in Monroe, Michigan, contributing to the health and enjoyment of employees and area wildlife. Additionally, the planting of a community garden led to 283 pounds of produce harvested as part of an investment in biodiversity.

La-Z-Boy added that the report is grounded in Century Vision, the company’s long-term business strategy that aims to elevate brand reach, strengthen enterprise capabilities, and drive profitable, sustainable growth in the lead-up to its 100th anniversary in 2027. Through this strategy, La-Z-Boy said it is focused on creating a more agile, efficient, and people-centered business to ensure the company not only adapts to an evolving market but also leads the way in delivering meaningful, lasting impact for its shareholders, customers, employees, and communities.

“Our 2024 Impact Report highlights the measurable progress we’ve made across key areas — reducing emissions, increasing resource efficiency, and strengthening our supply chain,” said Tim McCurry, vice president of environmental health & safety, facilities, & sustainability at La-Z-Boy. “We are mindful of the ways our manufacturing operations, product sourcing, and other business practices impact our environment and our industry, and every step we take brings us closer to a more sustainable future.”

Access La-Z-Boys FY2024 Impact Report.
 

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Rich Christianson | President/Owner/C-Level

Rich Christianson is the owner of Richson Media LLC, a Chicago-based communications firm focused on the industrial woodworking sector. Rich is the former long-time editorial director and associate publisher of Woodworking Network. During his nearly 35-year career, Rich has toured more than 250 woodworking operations throughout North America, Europe and Asia and has written extensively on woodworking technology, design and supply trends. He has also directed and promoted dozens of woodworking trade shows, conferences and seminars including the Cabinets & Closets Conference & Expo and the Woodworking Machinery & Supply Conference & Expo, Canada’s largest woodworking show.