US-based recliner business La-Z-Boy has posted a slight lull in sales for the fiscal 2017 first quarter ended 30 July 2016.
La-Z-Boy, which has more than 200 stockists in the UK, reported a decline of 0.2% to $340.8m (£257.7m) from $341.4m (£258.2m) in the prior year’s first quarter.
Despite the flat sales, the company reported net income of $13.8m (£10.4m) from $13.7m (£10.3m) in last year’s first quarter, up by 0.7%.
Commenting on the latest trading figures, Kurt Darrow, chairman, president and chief executive officer, of La-Z-Boy, said: “Our manufacturing operations are running efficiently and when combined with other supply chain initiatives, we drove improved profitability for the fiscal 2017 first quarter, increasing consolidated operating margin to 6.4%.
“While we experienced flat sales for the quarter due to weaker demand at wholesale and inconsistent traffic throughout the La-Z-Boy Furniture Galleries® store system, we are in an excellent service position for both our dealers and the consumer as we approach the traditionally stronger fall selling season.”
Upholstery manufacturer Furnico Limited currently holds the licence to sell the world-renowned upholstery brand in the UK.