Residential furniture giant La-Z-Boy reported third-quarter sales of $470.1 million, a 1.2 percent decline over the same period last year.
La-Z-Boy CEO Kurt Darrow will retire effective April 25. Melinda Whittington will take over as president and CEO, and Robert Lucian will become CFO.
MONROE, Mich.— La-Z-Boy Inc. has appointed Robert Sundy as senior vice president and chief commercial officer, effective Jan. 27. Sundy will be responsible for all facets of sales, merchandising and marketing for the La-Z-Boy branded business in North America, and will report to Kurt Darrow, La-Z-Boy Inc. chairman, president and CEO.
Furniture giant La-Z-Boy saw sales of $285.5 million in first quarter sales - a drop of 31 percent from last year from last year's $413.6 million
Furniture giant La-Z-Boy has expanded operations at a manufacturing plant in Arkansas, adding a second shift and 125 jobs.
Effective immediately, La-Z-Boy Inc. said it will eliminate 10 percent of its global workforce, including 300 jobs at the Newton, Mississippi, upholstery manufacturing plant, as part of its initiatives to strengthen the residential furniture giant following the COVID-19 impact.
A worker at La-Z-Boy's furniture production facility in Dayton, Tennessee has tested positive for COVID-19, the company reports.
The tide might be turning, as several leading furniture makers are preparing to resume production.
Residential furniture giant La-Z-Boy has unveiled its coronavirus action plan, which includes layoffs of around 6,800 employees - or 70 percent of its total workforce.
La-Z-Boy says the transitions will help the residential furniture giant optimize its supply chain manufacturing footprint.