Lawton La-Z-Boy

La-Z-Boy looks to build on growth as UK sales rise

The UK division of upholstery manufacturer La-Z-Boy Incorporated has reported a growth in sales as turnover surpassed £30m.

According to its latest filed accounts for the year ended 30 April 2022, total sales rose 19% to £30.8m from £25.8m in 2021. Pre-tax profit resulted at £661,000, down from £1.3m recorded in the previous year.

Stated within its report, the company said that revenues grew significantly through increased distribution with new and existing customers. “Our gross margin (10.6% down from 14.2%) and operating margin (2.2% down from 5.3%) was hampered by global supply chain issues; a significant contributor was the dramatic increase in Far East freight costs that were witnessed across the UK industry.”

La-Z-Boy added that its acquisition of its Burnley manufacturing plant will enable the business to restore margins moving forward and execute plans for further growth.

“Continuing to develop partnerships with our retailers is a fundamental part of our strategy, as evidenced by our successful partnership with ScS,” the company said, adding: “The cornerstone of our business is the La-Z-Boy brand, and to further promote the brand and create demand for our retailers, we secured a three-year deal to become the official furniture partner of the NFL London Games.

“The NFL deal complements our image and values and will elevate our brand in the UK and Ireland by reaching a consumer group which is in keeping with our strategic vision.”

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