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Segment Information
 3 Months Ended
Jul. 26, 2014
Segment Information  
Segment Information

Note 10: Segment Information

 

Our reportable operating segments are the Upholstery segment, the Casegoods segment and the Retail segment. During fiscal 2014, we sold our Bauhaus business unit and classified Lea Industries as held for sale. These operating units are presented as discontinued operations and prior financial information has been restated for the change in composition of our Upholstery and Casegoods segments.

 

Upholstery Segment. The Upholstery segment consists of two operating units: La-Z-Boy and England. This segment manufactures or imports upholstered furniture. Upholstered furniture includes recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans and sleeper sofas. The Upholstery segment sells directly to La-Z-Boy Furniture Galleries® stores, operators of Comfort Studio® locations, major dealers and other independent retailers.

 

Casegoods Segment. The Casegoods segment consists of three brands: American Drew, Hammary, and Kincaid. This segment sells imported or manufactured wood furniture to furniture retailers. Casegoods product includes bedroom, dining room, entertainment centers, occasional pieces and some coordinated upholstered furniture. The Casegoods segment sells to major dealers and other independent retailers, as well as La-Z-Boy Furniture Galleries® stores and operators of Comfort Studio® locations.

 

Retail Segment. The Retail segment consists of 102 company-owned La-Z-Boy Furniture Galleries® stores in 12 primary markets. The Retail segment sells upholstered furniture, in addition to some casegoods and other accessories, to end consumers through the retail network.

 

 

 

Quarter Ended

 

(Unaudited, amounts in thousands)

 

7/26/14

 

7/27/13

 

Sales

 

 

 

 

 

Upholstery segment:

 

 

 

 

 

Sales to external customers

 

$
227,156

 

$
215,547

 

Intersegment sales

 
35,703

 
30,522

 

Upholstery segment sales

 
262,859

 
246,069

 

Casegoods segment:

 

 

 

 

 

Sales to external customers

 
25,953

 
22,670

 

Intersegment sales

 
2,970

 
2,129

 

Casegoods segment sales

 
28,923

 
24,799

 

 

 

 

 

 

 

Retail segment sales

 
72,905

 
66,274

 

Corporate and Other

 
966

 
1,011

 

Eliminations

 
(38,673

)
(32,651

)

Consolidated sales

 

$
326,980

 

$
305,502

 

 

 

 

 

 

 

Operating Income (Loss)

 

 

 

 

 

Upholstery segment

 

$
22,017

 

$
22,286

 

Casegoods segment

 
1,525

 
450

 

Retail segment

 
315

 
1,926

 

Restructuring

 
357

 
(87

)

Corporate and Other

 
(7,723

)
(9,810

)

Consolidated operating income

 

$
16,491

 

$
14,765