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Segment Information
 3 Months Ended
Jul. 30, 2016
Segment Information  
Segment Information

 

Note 9: Segment Information

 

Our reportable operating segments are the Upholstery segment, the Casegoods segment, and the Retail segment.

 

Upholstery Segment. The Upholstery segment consists primarily of two operating units: La-Z-Boy and England. This segment manufactures and 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® locations and England Custom Comfort Center locations, major dealers, and a wide cross-section of 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 directly to major dealers, as well as La-Z-Boy Furniture Galleries® stores, and a wide cross-section of other independent retailers.

 

Retail Segment. The Retail segment consists of 127 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

 

(Unaudited, amounts in thousands)

 

7/30/16

 

7/25/15

 

Sales

 

 

 

 

 

Upholstery segment:

 

 

 

 

 

Sales to external customers

 

$
223,809

 

$
232,484

 

Intersegment sales

 
43,607

 
40,192

 

 

 

 

 

 

 

Upholstery segment sales

 
267,416

 
272,676

 

 

 

 

 

 

 

 

 

 

 

 

 

Casegoods segment:

 

 

 

 

 

Sales to external customers

 
20,585

 
21,202

 

Intersegment sales

 
4,453

 
2,191

 

 

 

 

 

 

 

Casegoods segment sales

 
25,038

 
23,393

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail segment sales

 
95,720

 
86,651

 

 

 

 

 

 

 

Corporate and Other:

 

 

 

 

 

Sales to external customers

 
669

 
1,086

 

Intersegment sales

 
1,210

 
516

 

 

 

 

 

 

 

Corporate and Other sales

 
1,879

 
1,602

 

 

 

 

 

 

 

 

 

 

 

 

 

Eliminations

 
(49,270

)
(42,899

)

 

 

 

 

 

 

Consolidated sales

 

$
340,783

 

$
341,423

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Income (Loss)

 

 

 

 

 

Upholstery segment

 

$
29,809

 

$
24,594

 

Casegoods segment

 
2,147

 
1,690

 

Retail segment

 
2,183

 
4,729

 

Corporate and Other

 
(12,371

)
(11,047

)

 

 

 

 

 

 

Consolidated operating income

 
21,768

 
19,966

 

Interest expense

 
115

 
112

 

Interest income

 
204

 
205

 

Other income (expense), net

 
(72

)
1,968

 

 

 

 

 

 

 

Income before income taxes

 

$
21,785

 

$
22,027