MONROE, MI – La-Z-Boy Inc. reported net sales for the second quarter of fiscal 2008 of $365.4 million, down 12% compared with the prior-year period. The company posted an after-tax loss of $9.9 million, as well as an after-tax loss of $3.7 million from continuing operations.
Kurt L. Darrow, president and CEO, said: “With the continued weak demand at retail for furniture, the decline in consumer confidence and the overall uncertain economic environment, our previously reported annual guidance will not be attainable.”
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