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Segment Information
 6 Months Ended
Oct. 25, 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 we have restated prior financial information 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 La-Z-Boy Comfort Studio® and England Custom Comfort Center 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 wood furniture to furniture retailers. Casegoods product includes bedroom, dining room, entertainment centers, occasional pieces and some manufactured 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 107 company-owned La-Z-Boy Furniture Galleries® stores. The Retail segment sells upholstered furniture, and some casegoods and other accessories, to end consumers through the retail network.

 

 

 

Quarter Ended

 

Six Months Ended

 

(Unaudited, amounts in thousands)

 

10/25/14

 

10/26/13

 

10/25/14

 

10/26/13

 

Sales

 

 

 

 

 

 

 

 

 

Upholstery segment:

 

 

 

 

 

 

 

 

 

Sales to external customers

 

$
255,044

 

$
252,123

 

$
482,200

 

$
467,670

 

Intersegment sales

 
42,223

 
34,881

 
77,926

 
65,403

 

Upholstery segment sales

 
297,267

 
287,004

 
560,126

 
533,073

 

Casegoods segment:

 

 

 

 

 

 

 

 

 

Sales to external customers

 
25,455

 
26,252

 
51,408

 
48,922

 

Intersegment sales

 
3,433

 
2,705

 
6,403

 
4,834

 

Casegoods segment sales

 
28,888

 
28,957

 
57,811

 
53,756

 

 

 

 

 

 

 

 

 

 

 

Retail segment sales

 
84,589

 
73,359

 
157,494

 
139,633

 

Corporate and Other

 
513

 
537

 
1,479

 
1,548

 

Eliminations

 
(45,656

)
(37,586

)
(84,329

)
(70,237

)

Consolidated sales

 

$
365,601

 

$
352,271

 

$
692,581

 

$
657,773

 

 

 

 

 

 

 

 

 

 

 

Operating Income (Loss)

 

 

 

 

 

 

 

 

 

Upholstery segment

 

$
32,607

 

$
32,701

 

$
54,624

 

$
54,987

 

Casegoods segment

 
2,995

 
1,170

 
4,520

 
1,620

 

Retail segment

 
3,682

 
3,251

 
3,997

 
5,177

 

Restructuring

 
(10

)
142

 
347

 
55

 

Corporate and Other

 
(9,082

)
(11,146

)
(16,805

)
(20,956

)

Consolidated operating income

 

$
30,192

 

$
26,118

 

$
46,683

 

$
40,883