Date of Report (Date of Earliest Event Reported): | ||||
(Exact name of registrant as specified in its charter) |
(State or other jurisdiction of | (Commission | (IRS Employer | ||
incorporation) | File Number) | Identification No.) |
(Address of principal executive offices) | (Zip Code) |
N/A | |||
(Former name or former address, if changed since last report.) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Description | ||
99.1 | ||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL Document) |
LA-Z-BOY INCORPORATED | ||
(Registrant) |
BY:/s/Lindsay A. Barnes | ||
Lindsay A. Barnes Vice President, Corporate Controller and Chief Accounting Officer |
• | Temporary closure of its U.S. manufacturing facilities, effective immediately, to be re-evaluated on April 13, 2020 |
• | Temporary closure of all company-owned La-Z-Boy Furniture Galleries® stores is in process, with 130 of 155 stores currently closed |
• | Temporary closure of its Regional Distribution Centers once in-process orders are delivered |
• | The furlough of approximately 6,800 employees, or approximately 70% of its global workforce |
• | A salary reduction of 50% for senior management and 25% for salaried employees until further notice; additionally, the board of directors will forego the cash portion of its compensation until further notice |
• | A freeze of the company’s 401(k) match |
• | Elimination of all non-essential operating expenses and capital expenditures |
• | Elimination of the June quarterly dividend and termination of the share repurchase program indefinitely to prioritize near-term financial flexibility |
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Document and Entity Information |
Mar. 29, 2020 |
---|---|
Cover page. | |
Document Type | 8-K |
Document Period End Date | Mar. 29, 2020 |
Entity Registrant Name | LA-Z-BOY INCORPORATED |
Entity Incorporation, State or Country Code | MI |
Entity File Number | 1-9656 |
Entity Tax Identification Number | 38-0751137 |
Entity Address, Address Line One | One La-Z-Boy Drive, |
Entity Address, City or Town | Monroe, |
Entity Address, State or Province | MI |
Entity Address, Postal Zip Code | 48162-5138 |
City Area Code | 734 |
Local Phone Number | 242-1444 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $1.00 par value |
Trading Symbol | LZB |
Security Exchange Name | NYSE |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0000057131 |
Amendment Flag | false |