La-Z-Boy (LZB) 10-Q 21 Feb 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Jan. 28, 2023	Feb. 14, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 28, 2023
Document Transition Report	false
Entity File Number	1-9656
Entity Registrant Name	LA-Z-BOY INCORPORATED
Entity Incorporation, State or Country Code	MI
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	242-144
Title of 12(b) Security	Common Stock, $1.00 Par Value
Trading Symbol	LZB
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		43,140,416
Entity Central Index Key	0000057131
Current Fiscal Year End Date	--04-29
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED STATEMENT OF INCOM

CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 28, 2023	Jan. 22, 2022	Jan. 28, 2023	Jan. 22, 2022
Income Statement [Abstract]
Sales	$ 572,723	$ 571,573	$ 1,788,146	$ 1,672,245
Cost of sales	326,296	352,208	1,039,523	1,027,503
Gross profit	246,427	219,365	748,623	644,742
Selling, general and administrative expense	203,587	179,878	591,257	516,771
Operating income	42,840	39,487	157,366	127,971
Interest expense	(136)	(160)	(414)	(713)
Interest income	2,012	806	3,624	1,029
Other income (expense), net	(1,062)	(1,460)	(834)	(522)
Income before income taxes	43,654	38,673	159,742	127,765
Income tax expense	12,077	9,591	42,446	33,059
Net income	31,577	29,082	117,296	94,706
Net (income) loss attributable to noncontrolling interests	149	(615)	(1,005)	(2,157)
Net income attributable to La-Z-Boy Incorporated	$ 31,726	$ 28,467	$ 116,291	$ 92,549
Earnings Per Share, Basic [Abstract]
Basic weighted average common shares (in shares)	43,137	43,701	43,111	44,342
Basic net income attributable to La-Z-Boy Incorporated per share (in dollars per share)	$ 0.74	$ 0.65	$ 2.70	$ 2.09
Earnings Per Share, Diluted [Abstract]
Diluted weighted average common shares (in shares)	43,137	43,968	43,111	44,640
Diluted net income attributable to La-Z-Boy Incorporated per share (in dollars per share)	$ 0.74	$ 0.65	$ 2.70	$ 2.07

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 28, 2023	Jan. 22, 2022	Jan. 28, 2023	Jan. 22, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 31,577	$ 29,082	$ 117,296	$ 94,706
Other comprehensive income (loss)
Currency translation adjustment	5,441	(651)	(72)	(1,902)
Net unrealized gain (loss) on marketable securities, net of tax	287	(140)	84	(190)
Net pension amortization, net of tax	36	56	109	175
Total other comprehensive income (loss)	5,764	(735)	121	(1,917)
Total comprehensive income before noncontrolling interests	37,341	28,347	117,417	92,789
Comprehensive (income) loss attributable to noncontrolling interests	(1,278)	(716)	(1,509)	(1,708)
Comprehensive income attributable to La-Z-Boy Incorporated	$ 36,063	$ 27,631	$ 115,908	$ 91,081

CONSOLIDATED BALANCE SHEET

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jan. 28, 2023	Apr. 30, 2022
Current assets
Cash and equivalents	$ 280,763	$ 245,589
Restricted cash	3,282	3,267
Receivables, net of allowance of $4,228 at 1/28/2023 and $3,406 at 4/30/2022	137,593	183,747
Inventories, net	303,553	303,191
Other current assets	123,803	215,982
Total current assets	848,994	951,776
Property, plant and equipment, net	267,606	253,144
Goodwill	204,781	194,604
Other intangible assets, net	39,180	33,971
Deferred income taxes – long-term	11,199	10,632
Right of use lease assets	399,807	405,755
Other long-term assets, net	74,788	82,207
Total assets	1,846,355	1,932,089
Current liabilities
Accounts payable	86,882	104,025
Lease liabilities, short-term	77,142	75,271
Accrued expenses and other current liabilities	345,360	496,393
Total current liabilities	509,384	675,689
Lease liabilities, long-term	350,144	354,843
Other long-term liabilities	70,323	81,935
Shareholders' equity
Preferred shares – 5,000 authorized; none issued	0	0
Common shares, $1.00 par value – 150,000 authorized; 43,140 outstanding at 1/28/23 and 43,089 outstanding at 4/30/22	43,140	43,089
Capital in excess of par value	350,406	342,252
Retained earnings	518,732	431,181
Accumulated other comprehensive loss	(6,180)	(5,797)
Total La-Z-Boy Incorporated shareholders' equity	906,098	810,725
Noncontrolling interests	10,406	8,897
Total equity	916,504	819,622
Total liabilities and equity	$ 1,846,355	$ 1,932,089

CONSOLIDATED BALANCE SHEET (Par

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) $ in Thousands	Jan. 28, 2023	Apr. 30, 2022
Current assets
Receivables, allowance	$ 4,228	$ 3,406
Shareholders' equity
Preferred shares, authorized (in shares)	5,000,000	5,000,000
Preferred shares, issued (in shares)	0	0
Common shares, par value (in dollars per share)	$ 1	$ 1
Common shares, authorized (in shares)	150,000,000	150,000,000
Common shares, outstanding (in shares)	43,140,000	43,089,000

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands		9 Months Ended
		Jan. 28, 2023	Jan. 22, 2022
Cash flows from operating activities
Net income		$ 117,296	$ 94,706
Adjustments to reconcile net income to cash provided by operating activities
(Gain)/loss on disposal and impairment of assets		6,161	(3,149)
(Gain)/loss on sale of investments		155	(340)
Provision for doubtful accounts		945	(1,070)
Depreciation and amortization		29,357	27,146
Amortization of right-of-use lease assets		57,548	53,949
Lease impairment		1,347	0
Equity-based compensation expense		8,456	8,887
Change in deferred taxes		(2,629)	214
Change in receivables		42,474	(20,317)
Change in inventories		4,560	(83,109)
Change in other assets		16,478	(22,486)
Change in payables		(10,624)	23,690
Change in lease liabilities		(58,651)	(54,400)
Change in other liabilities		(85,821)	21,471
Net cash provided by operating activities		127,052	45,192
Cash flows from investing activities
Proceeds from disposals of assets		121	3,999
Capital expenditures		(57,439)	(58,585)
Purchases of investments		(6,970)	(28,058)
Proceeds from sales of investments		18,178	30,457
Acquisitions		(11,855)	(24,849)
Net cash used for investing activities		(57,965)	(77,036)
Cash flows from financing activities
Payments on debt and finance lease liabilities		(92)	(91)
Holdback payments for acquisition purchases		(5,000)	(23,000)
Stock issued for stock and employee benefit plans, net of shares withheld for taxes		(1,771)	(1,670)
Repurchases of common stock		(5,004)	(75,646)
Dividends paid to shareholders		(22,027)	(20,621)
Dividends paid to minority interest joint venture partners (1)	[1]	0	(1,260)
Net cash used for financing activities		(33,894)	(122,288)
Effect of exchange rate changes on cash and equivalents		(4)	(593)
Change in cash, cash equivalents and restricted cash		35,189	(154,725)
Cash, cash equivalents and restricted cash at beginning of period		248,856	394,703
Cash, cash equivalents and restricted cash at end of period		284,045	239,978
Supplemental disclosure of non-cash investing activities
Capital expenditures included in payables		$ 2,828	$ 4,564
[1]Includes dividends paid to joint venture minority partners resulting from the repatriation of dividends from our foreign earnings that we no longer consider permanently reinvested.

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands		Total	Common Shares	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Non-Controlling Interests
Beginning balance at Apr. 24, 2021		$ 782,146	$ 45,361	$ 330,648	$ 399,010	$ (1,521)	$ 8,648
Increase (Decrease) in Stockholders' Equity
Net income		25,266			24,566		700
Other comprehensive loss		(732)				(302)	(430)
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax		(2,228)	181	291	(2,700)
Repurchases of shares of common stock		(35,640)	(919)	(530)	(34,191)
Stock option and restricted stock expense		2,460		2,460
Dividends declared and paid		(6,777)			(6,777)
Dividends declared not paid		(46)			(46)
Ending balance at Jul. 24, 2021		764,449	44,623	332,869	379,862	(1,823)	8,918
Beginning balance at Apr. 24, 2021		782,146	45,361	330,648	399,010	(1,521)	8,648
Increase (Decrease) in Stockholders' Equity
Net income		94,706					2,157
Other comprehensive loss		(1,917)					(449)
Ending balance at Jan. 22, 2022		784,483	43,505	339,294	395,577	(2,989)	9,096
Beginning balance at Jul. 24, 2021		764,449	44,623	332,869	379,862	(1,823)	8,918
Increase (Decrease) in Stockholders' Equity
Net income		40,358			39,516		842
Other comprehensive loss		(450)				(330)	(120)
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax		358	11	353	(6)
Repurchases of shares of common stock		(15,000)	(434)	(196)	(14,370)
Stock option and restricted stock expense		3,894		3,894
Dividends declared and paid	[1]	(7,881)			(6,621)		(1,260)
Dividends declared not paid		(46)			(46)
Ending balance at Oct. 23, 2021		785,682	44,200	336,920	398,335	(2,153)	8,380
Increase (Decrease) in Stockholders' Equity
Net income		29,082			28,467		615
Other comprehensive loss		(735)				(836)	101
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax		200	8	204	(12)
Repurchases of shares of common stock		(25,006)	(703)	(363)	(23,940)
Stock option and restricted stock expense		2,533		2,533
Dividends declared and paid		(7,223)			(7,223)
Dividends declared not paid		(50)			(50)
Ending balance at Jan. 22, 2022		784,483	43,505	339,294	395,577	(2,989)	9,096
Beginning balance at Apr. 30, 2022		819,622	43,089	342,252	431,181	(5,797)	8,897
Increase (Decrease) in Stockholders' Equity
Net income		38,940			38,488		452
Other comprehensive loss		(2,038)				(1,519)	(519)
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax		(1,703)	151	(194)	(1,660)
Repurchases of shares of common stock		(5,004)	(204)		(4,800)
Stock option and restricted stock expense		1,417		1,417
Dividends declared and paid		(7,097)			(7,097)
Dividends declared not paid		(45)			(45)
Ending balance at Jul. 30, 2022		844,092	43,036	343,475	456,067	(7,316)	8,830
Beginning balance at Apr. 30, 2022		819,622	43,089	342,252	431,181	(5,797)	8,897
Increase (Decrease) in Stockholders' Equity
Net income		117,296					1,005
Other comprehensive loss		121					504
Ending balance at Jan. 28, 2023		916,504	43,140	350,406	518,732	(6,180)	10,406
Beginning balance at Jul. 30, 2022		844,092	43,036	343,475	456,067	(7,316)	8,830
Increase (Decrease) in Stockholders' Equity
Net income		46,779			46,077		702
Other comprehensive loss		(3,605)				(3,201)	(404)
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax		(8)	100	(101)	(7)
Stock option and restricted stock expense		3,662		3,662
Dividends declared and paid		(7,064)			(7,064)
Dividends declared not paid		(70)			(70)
Ending balance at Oct. 29, 2022		883,786	43,136	347,036	495,003	(10,517)	9,128
Increase (Decrease) in Stockholders' Equity
Net income		31,577			31,726		(149)
Other comprehensive loss		5,764				4,337	1,427
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax		(60)	4	(7)	(57)
Stock option and restricted stock expense		3,377		3,377
Dividends declared and paid		(7,866)			(7,866)
Dividends declared not paid		(74)			(74)
Ending balance at Jan. 28, 2023		$ 916,504	$ 43,140	$ 350,406	$ 518,732	$ (6,180)	$ 10,406
[1]Non-controlling interests include dividends paid to joint venture minority partners resulting from the repatriation of dividends from our foreign earnings that we no longer consider permanently reinvested.

CONSOLIDATED STATEMENT OF CHA_2

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Parenthetical) - $ / shares shares in Thousands	3 Months Ended
	Jan. 28, 2023	Oct. 29, 2022	Jul. 30, 2022	Jan. 22, 2022	Oct. 23, 2021	Jul. 24, 2021
Dividends paid (in dollars per share)		$ 0.165	$ 0.165		$ 0.15	$ 0.15
Dividends declared (in dollars per share)	$ 0.1815	$ 0.165	$ 0.165	$ 0.165	$ 0.15	$ 0.15
Common Shares
Shares purchased (in shares)			204	703	434	919

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jan. 28, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements include the consolidated accounts of La-Z-Boy Incorporated and our majority-owned subsidiaries (collectively, the "Company"). We derived the April 30, 2022 balance sheet from our audited financial statements. We prepared the interim financial information in conformity with generally accepted accounting principles, which we applied on a basis consistent with those reflected in our fiscal 2022 Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), but the information does not include all of the disclosures required by generally accepted accounting principles. In management’s opinion, the interim financial information includes all adjustments and accruals, consisting only of normal recurring adjustments (except as otherwise disclosed), that are necessary for a fair statement of results for the respective interim periods. The interim results reflected in the accompanying financial statements are not necessarily indicative of the results of operations that will occur for the full fiscal year ending April 29, 2023. At January 28, 2023, we owned investments in two privately-held companies consisting of non-marketable preferred shares, warrants to purchase common shares, and convertible notes. Each of these companies is a variable interest entity and we have not consolidated their results in our financial statements because we do not have the power to direct those activities that most significantly impact their economic performance and, therefore, are not the primary beneficiary. Accounting pronouncements adopted in fiscal 2023 We did not adopt any Accounting Standards Updates ("ASUs") in the first nine months of fiscal 2023. Accounting pronouncements not yet adopted The following table summarizes additional accounting pronouncements which we have not yet adopted, but we believe will not have a material impact on our accounting policies or our consolidated financial statements and related disclosures. ASU Description Adoption Date ASU 2021-08 Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities From Contracts With Customers Fiscal 2024 Torreón Closure During the third quarter of fiscal 2023, we made the decision to close our manufacturing facility in Torreón, Mexico as part of our initiative to drive improved efficiencies through optimized staffing levels within our plants. Torreón was the last facility to begin operating as part of our broader Mexico manufacturing expansion in fiscal 2021 and 2022 and accounted for approximately 3% of our La-Z-Boy branded production. As a result of this action, charges were recorded within the Wholesale segment in the third quarter of fiscal 2023 of $9.2 million in selling, general, and administrative expense for the impairment of various assets, primarily long-lived assets, and $0.9 million in cost of sales, primarily related to severance.

Acquisitions

Acquisitions	9 Months Ended
	Jan. 28, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions None of the below acquisitions were significant to our consolidated financial statements, and, therefore, pro-forma financial information is not presented. All of our provisional purchase accounting estimates for the acquisitions completed in fiscal 2023 are based on the information and data available to us as of the time of the issuance of these financial statements, and in accordance with Accounting Standard Codification Topic 805-10-25-15, are subject to change within the first 12 months following the acquisition as we gain additional data. Each of the following Retail acquisitions completed in fiscal 2023 and 2022 reflect a core component of our strategic priorities, which is to grow our company-owned retail business and leverage our integrated retail model (where we earn a combined profit on both the wholesale and retail sales) in suitable geographic markets, alongside the existing La-Z-Boy Furniture Galleries ® network. Barboursville, West Virginia acquisition On December 12, 2022, we completed our acquisition of the Barboursville, West Virginia business that operates one independently owned La-Z-Boy Furniture Galleries ® store. This acquisition did not have a meaningful impact on our consolidated financial statements. Spokane, Washington acquisition On September 26, 2022, we completed our acquisition of the Spokane, Washington business that operates one independently owned La-Z-Boy Furniture Galleries ® store and one distribution center for $4.7 million, subject to customary adjustments. We paid total cash of $4.0 million during the second quarter of fiscal 2023 and the remaining consideration includes forgiveness of accounts receivable and payments based on working capital adjustments. Prior to this acquisition, we licensed to the counterparty the exclusive right to own and operate La-Z-Boy Furniture Galleries ® stores (and to use the associated trademarks and trade name) in the Spokane, Washington market, and we reacquired these rights when we consummated the transaction. The reacquired rights are indefinite-lived because our Retailer Agreements are perpetual agreements that have no specific expiration date and no renewal options. The effective settlement of these arrangements resulted in no settlement gain or loss as the contractual terms were at market. We recorded an indefinite-lived intangible asset of $1.2 million related to these reacquired rights. We also recognized $3.0 million of goodwill in our Retail segment related primarily to synergies we expect from the integration of the acquired store and future benefits of these synergies. For federal income tax purposes, we will amortize and appropriately deduct all of the indefinite-lived intangible assets and goodwill assets over 15 years. Denver, Colorado acquisition On July 18, 2022, we completed our acquisition of the Denver, Colorado business that operates five independently owned La-Z-Boy Furniture Galleries ® stores and one distribution center for $10.1 million, subject to customary adjustments. We paid total cash of $7.7 million in the first and second quarters of fiscal 2023 and the remaining consideration includes forgiveness of accounts receivable and payments based on working capital adjustments. Prior to this acquisition, we licensed to the counterparty the exclusive right to own and operate La-Z-Boy Furniture Galleries ® stores (and to use the associated trademarks and trade name) in the Denver, Colorado market, and we reacquired these rights when we consummated the transaction. The reacquired rights are indefinite-lived because our Retailer Agreements are perpetual agreements that have no specific expiration date and no renewal options. The effective settlement of these arrangements resulted in no settlement gain or loss as the contractual terms were at market. We recorded an indefinite-lived intangible asset of $4.3 million related to these reacquired rights. We also recognized $7.6 million of goodwill in our Retail segment related primarily to synergies we expect from the integration of the acquired stores and future benefits of these synergies. For federal income tax purposes, we will amortize and appropriately deduct all of the indefinite-lived intangible assets and goodwill assets over 15 years. Prior Year Acquisitions Alabama and Chattanooga, Tennessee acquisition On December 6, 2021, we completed our acquisition of the Alabama and Chattanooga, Tennessee businesses that operate four independently owned La-Z-Boy Furniture Galleries ® stores in Alabama and one in Chattanooga, Tennessee, for $8.3 million, subject to customary adjustments. We paid total cash of $8.0 million in the third quarter of fiscal 2022 and the remaining consideration includes forgiveness of accounts receivable and payments based on working capital adjustments. Prior to this acquisition, we licensed to the counterparty the exclusive right to own and operate La-Z-Boy Furniture Galleries ® stores (and to use the associated trademarks and trade name) in the Alabama and Chattanooga, Tennessee markets, and we reacquired these rights when we consummated the transaction. The reacquired rights are indefinite-lived because our Retailer Agreements are perpetual agreements that have no specific expiration date and no renewal options. The effective settlement of these arrangements resulted in no settlement gain or loss as the contractual terms were at market. We recorded an indefinite-lived intangible asset of $4.1 million related to these reacquired rights. We also recognized $7.4 million of goodwill in our Retail segment related primarily to synergies we expect from the integration of the acquired stores and future benefits of these synergies. For federal income tax purposes, we will amortize and appropriately deduct all of the indefinite-lived intangible assets and goodwill assets over 15 years. Furnico (La-Z-Boy United Kingdom Manufacturing) acquisition On October 25, 2021, we completed the acquisition of Furnico Furniture Ltd ("Furnico"), an upholstery manufacturing business in the U.K for approximately $13.3 million, subject to customary adjustments and in the third and fourth quarters of fiscal 2022, we paid $13.9 million of cash for the purchase of the Furnico business. Furnico produces La-Z-Boy branded product for the La-Z-Boy U.K. business and also operates a wholesale business, selling white label products to key U.K. retailers. With this acquisition, we expect to realize production synergies, cost savings through materials procurement, and increases in production capacity to support growth in the La-Z-Boy U.K business. We recognized $9.2 million of goodwill in our Wholesale segment related primarily to synergies we expect from the integration of the acquired business and future benefits of these synergies. The goodwill asset for Furnico is not deductible for federal income tax purposes. Long Island, New York acquisition On August 16, 2021, we completed our acquisition of the Long Island, New York business that operates three independently owned La-Z-Boy Furniture Galleries ® stores for $4.5 million, subject to customary adjustments. We paid $4.4 million of cash during the second quarter of fiscal 2022 and the remaining consideration includes forgiveness of accounts receivable and payments based on working capital adjustments. Prior to this acquisition, we licensed to the counterparty the exclusive right to own and operate La-Z-Boy Furniture Galleries ® stores (and to use the associated trademarks and trade name) in the Long Island, New York market, and we reacquired these rights when we consummated the transaction. The reacquired rights are indefinite-lived because our Retailer Agreements are perpetual agreements that have no specific expiration date and no renewal options. The effective settlement of these arrangements resulted in no settlement gain or loss as the contractual terms were at market. We recorded an indefinite-lived intangible asset of $0.8 million related to these reacquired rights. We also recognized $4.4 million of goodwill in our Retail segment related primarily to synergies we expect from the integration of the acquired stores and future benefits of these synergies. For federal income tax purposes, we will amortize and appropriately deduct all of the indefinite-lived intangible assets and goodwill assets over 15 years.

Cash and Restricted Cash

Cash and Restricted Cash	9 Months Ended
	Jan. 28, 2023
Cash and Cash Equivalents [Abstract]
Cash and Restricted Cash	Cash and Restricted Cash We have restricted cash on deposit with a bank as collateral for certain letters of credit. All our letters of credit have maturity dates within the next twelve months, but we expect to renew some of these letters of credit when they mature. (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 Cash and cash equivalents $ 280,763 $ 236,712 Restricted cash 3,282 3,266 Total cash, cash equivalents and restricted cash $ 284,045 $ 239,978

Inventories

Inventories	9 Months Ended
	Jan. 28, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories A summary of inventories is as follows: (Unaudited, amounts in thousands) 1/28/2023 4/30/2022 Raw materials $ 137,042 $ 146,896 Work in process 25,119 36,834 Finished goods 198,680 185,870 FIFO inventories 360,841 369,600 Excess of FIFO over LIFO (57,288) (66,409) Total inventories $ 303,553 $ 303,191

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Jan. 28, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets We have goodwill on our consolidated balance sheet as follows: Reportable Segment/Unit Reporting Unit Related Acquisition Wholesale Segment La-Z-Boy United Kingdom Wholesale business in the United Kingdom and Ireland Wholesale Segment La-Z-Boy United Kingdom Manufacturing La-Z-Boy United Kingdom Manufacturing (Furnico) Retail Segment Retail La-Z-Boy Furniture Galleries ® stores Corporate & Other Joybird Joybird The following table summarizes changes in the carrying amount of our goodwill by reportable segment: (Unaudited, amounts in thousands) Wholesale Retail Corporate Total Balance at April 30, 2022 (1) $ 20,207 $ 118,951 $ 55,446 $ 194,604 Acquisitions — 10,598 — 10,598 Translation adjustment (295) (126) — (421) Balance at January 28, 2023 (1) $ 19,912 $ 129,423 $ 55,446 $ 204,781 (1) Includes $26.9 million of accumulated impairment losses in Corporate and Other. We have intangible assets on our consolidated balance sheet as follows: Reportable Segment/Unit Intangible Asset Useful Life Wholesale Segment Primarily acquired customer relationships from our acquisition of the wholesale business in the United Kingdom and Ireland Amortizable over useful lives that do not exceed 15 years Wholesale Segment American Drew ® trade name Indefinite-lived Retail Segment Reacquired rights to own and operate La-Z-Boy Furniture Galleries ® stores Indefinite-lived Corporate & Other Joybird ® trade name Amortizable over eight The following summarizes changes in our intangible assets: (Unaudited, amounts in thousands) Indefinite- Finite-Lived Indefinite- Other Total Balance at April 30, 2022 $ 1,155 $ 3,392 $ 27,319 $ 2,105 $ 33,971 Acquisitions — — 6,093 — 6,093 Amortization — (599) — (155) (754) Translation adjustment — — (95) (35) (130) Balance at January 28, 2023 $ 1,155 $ 2,793 $ 33,317 $ 1,915 $ 39,180 We test indefinite-lived intangibles and goodwill for impairment on an annual basis in the fourth quarter of each fiscal year, and more frequently if events or changes in circumstances indicate that an asset might be impaired. We test amortizable intangible assets for impairment if events or changes in circumstances indicate that the assets might be impaired.

Investments

Investments	9 Months Ended
	Jan. 28, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	InvestmentsWe have current and long-term investments intended to enhance returns on our cash as well as to fund future obligations of our non-qualified defined benefit retirement plan, our executive deferred compensation plan, and our performance compensation retirement plan. We also hold investments of two privately-held companies consisting of non-marketable preferred shares, warrants to purchase common shares, and convertible notes (refer to Note 15, Fair Value Measurements). Our short-term investments are included in other current assets and our long-term investments are included in other long-term assets on our consolidated balance sheet. The following summarizes our investments: (Unaudited, amounts in thousands) 1/28/2023 4/30/2022 Short-term investments: Marketable securities $ 10,911 $ 16,022 Held-to-maturity investments 1,404 1,337 Total short-term investments 12,315 17,359 Long-term investments: Marketable securities 19,756 26,599 Cost basis investments 7,579 7,579 Total long-term investments 27,335 34,178 Total investments $ 39,650 $ 51,537 Investments to enhance returns on cash $ 15,793 $ 27,239 Investments to fund compensation/retirement plans 13,542 14,219 Other investments 10,315 10,079 Total investments $ 39,650 $ 51,537 The following is a summary of the unrealized gains, unrealized losses, and fair value by investment type: 1/28/2023 4/30/2022 (Unaudited, amounts in thousands) Gross Gross Fair Value Gross Gross Fair Value Equity securities $ 1,316 $ (94) $ 14,213 $ 1,448 $ (86) $ 13,905 Fixed income 45 (715) 21,201 28 (809) 33,521 Other 1,210 — 4,236 1,250 — 4,111 Total securities $ 2,571 $ (809) $ 39,650 $ 2,726 $ (895) $ 51,537 The following table summarizes sales of marketable securities: Quarter Ended Nine Months Ended (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 1/28/2023 1/22/2022 Proceeds from sales $ 5,514 $ 7,784 $ 18,178 $ 29,437 Gross realized gains 3 142 52 696 Gross realized losses (81) (20) (207) (356) The following is a summary of the fair value of fixed income marketable securities, classified as available-for-sale securities, by contractual maturity: (Unaudited, amounts in thousands) 1/28/2023 Within one year $ 10,907 Within two to five years 7,836 Within six to ten years 572 Thereafter 1,886 Total $ 21,201

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
	Jan. 28, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities (Unaudited, amounts in thousands) 1/28/2023 4/30/2022 Payroll and other compensation $ 59,534 $ 62,373 Accrued product warranty, current portion 18,517 16,436 Customer deposits 129,019 183,233 Deferred revenue 60,986 139,006 Other current liabilities 77,304 95,345 Accrued expenses and other current liabilities $ 345,360 $ 496,393

Product Warranties

Product Warranties	9 Months Ended
	Jan. 28, 2023
Product Warranties Disclosures [Abstract]
Product Warranties	Product Warranties We accrue an estimated liability for product warranties when we recognize revenue on the sale of warrantied products. We estimate future warranty claims on product sales based on our historical claims experience and periodically adjust the provision to reflect changes in actual experience. We incorporate repair costs into our liability estimates, including materials, labor and overhead amounts necessary to perform repairs, and any costs associated with delivering repaired product to our customers. Over 90% of our warranty liability relates to our Wholesale reportable segment as we generally warrant our products against defects for one one A reconciliation of the changes in our product warranty liability is as follows: Quarter Ended Nine Months Ended (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 1/28/2023 (1) 1/22/2022 Balance as of the beginning of the period $ 28,357 $ 25,068 $ 27,036 $ 23,636 Acquisitions — 634 — 634 Accruals during the period 8,663 7,271 24,942 21,158 Settlements during the period (7,722) (6,612) (22,680) (19,067) Balance as of the end of the period $ 29,298 $ 26,361 $ 29,298 $ 26,361 (1) $18.5 million and $16.4 million is recorded in accrued expenses and other current liabilities as of January 28, 2023, and April 30, 2022, respectively, while the remainder is included in other long-term liabilities. We recorded accruals during the periods presented in the table above, primarily to reflect charges that relate to warranties issued during the respective periods.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Jan. 28, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The table below summarizes the total stock-based compensation expense we recognized for all outstanding grants in our consolidated statement of income: Quarter Ended Nine Months Ended (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 1/28/2023 1/22/2022 Equity-based awards expense $ 3,377 $ 2,533 $ 8,456 $ 8,887 Liability-based awards expense (1) (54) (73) 92 (696) Total stock-based compensation expense $ 3,323 $ 2,460 $ 8,548 $ 8,191 (1) Liability-based awards are comprised primarily of deferred stock units granted to non-employee directors. Compensation expense for these awards is based on the market price of our common stock on the grant date and is remeasured each reporting period based on the market value of our common shares on the last day of the reported period. Stock Options. We granted 318,411 stock options to employees during the first quarter of fiscal 2023 and we have stock options outstanding from previous grants. We account for stock options as equity-based awards because when they are exercised, they will be settled in common shares. We recognize compensation expense for stock options over the vesting period equal to the fair value on the date the Compensation and Talent Oversight Committee of our board of directors approved the awards. The vesting period for our stock options ranges from one We estimate the fair value of the employee stock options at the grant date using the Black-Scholes option-pricing model, which requires management to make certain assumptions. The fair value of stock options granted during the first quarter of fiscal 2023 was calculated using the following assumptions: (Unaudited) Fiscal 2023 grant Assumption Risk-free interest rate 2.87% U.S. Treasury issues with term equal to expected life at grant date Dividend rate 2.70% Estimated future dividend rate and common share price at grant date Expected life 5.0 years Contractual term of stock option and expected employee exercise trends Stock price volatility 42.78% Historical volatility of our common shares Fair value per option $ 7.90 Restricted Stock . We granted 256,128 shares of restricted stock units to employees during the first nine months of fiscal 2023 and we also have restricted stock awards outstanding from previous grants. We issue restricted stock at no cost to employees and account for restricted stock awards as equity-based awards because when they vest, they will be settled in common shares. We recognize compensation expense for restricted stock over the vesting period equal to the fair value on the date the Compensation and Talent Oversight Committee of our board of directors approved the awards. Restricted stock awards generally vest at 25% per year, beginning one year from the grant date over a term of four years, with continued vesting upon retirement with respect to the fiscal 2023 grants. The vesting date for retirement-eligible employees is the later of the date they meet the criteria for retirement or ten months after the grant date. We accelerate the expense for restricted stock granted to retirement-eligible employees over the vesting period, with expense recognized from the grant date through their retirement eligibility date or over the ten months following the grant date, whichever period is longer. We have elected to recognize forfeitures as an adjustment to compensation expense in the same period as the forfeitures occur. The weighted-average fair value of the restricted stock that was awarded in the first nine months of fiscal 2023 was $24.58 per share, the market value of our common shares on the dates of grant. Restricted Stock Units Issued to Directors. Restricted stock units granted to our non-employee directors are offered at no cost to the directors and vest the earlier of the date a director ceases to be a member of the board (for any reason other than the termination of service for cause) or the-one year anniversary of the grant date. During the second quarter of fiscal 2023, we granted 36,656 restricted stock units to our non-employee directors. We account for these restricted stock units as equity-based awards because when they vest, they will be settled in shares of our common stock. We measure and recognize compensation expense for these awards based on the market price of our common shares on the date of grant, which was $26.19. Performance Shares. During the first quarter of fiscal 2023, we granted 240,833 performance-based shares and we also have performance-based share awards outstanding from previous grants. Payouts of these grants depend on our financial performance (50%) and a market-based condition based on the total return our shareholders receive on their investment in our stock relative to returns earned through investments in other public companies (50%). The performance share opportunity ranges from 50% of the employee’s target award if minimum performance requirements are met to a maximum of 200% of the target award based on the attainment of certain financial and shareholder-return goals over a specific performance period, which is generally three We account for performance-based shares as equity-based awards because when they vest, they will be settled in common shares. In the event of an employee's termination during the vesting period, the potential right to earn shares under this program is generally forfeited and we have elected to recognize forfeitures as an adjustment to compensation expense in the same period in which the forfeitures occur. For shares that vest based on our results relative to the performance goals, we expense as compensation cost the fair value of the shares as of the day we granted the awards recognized over the performance period,

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Jan. 28, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The activity in accumulated other comprehensive income (loss) for the quarters ended January 28, 2023, and January 22, 2022, is as follows: (Unaudited, amounts in thousands) Translation adjustment Unrealized gain (loss) on marketable securities Net pension amortization and net actuarial loss Accumulated other comprehensive income (loss) Balance at October 29, 2022 $ (6,551) $ (501) $ (3,465) $ (10,517) Changes before reclassifications 4,014 303 — 4,317 Amounts reclassified to net income — 78 49 127 Tax effect — (94) (13) (107) Other comprehensive income (loss) attributable to La-Z-Boy Incorporated 4,014 287 36 4,337 Balance at January 28, 2023 $ (2,537) $ (214) $ (3,429) $ (6,180) Balance at October 23, 2021 $ 2,340 $ 320 $ (4,813) $ (2,153) Changes before reclassifications (752) (201) — (953) Amounts reclassified to net income — 16 75 91 Tax effect — 45 (19) 26 Other comprehensive income (loss) attributable to La-Z-Boy Incorporated (752) (140) 56 (836) Balance at January 22, 2022 $ 1,588 $ 180 $ (4,757) $ (2,989) The activity in accumulated other comprehensive income (loss) for the nine months ended January 28, 2023 and January 22, 2022, is as follows: (Unaudited, amounts in thousands) Translation adjustment Unrealized gain (loss) on marketable securities Net pension amortization and net actuarial loss Accumulated other comprehensive income (loss) Balance at April 30, 2022 $ (1,961) $ (298) $ (3,538) $ (5,797) Changes before reclassifications (576) (87) — (663) Amounts reclassified to net income — 199 145 344 Tax effect — (28) (36) (64) Other comprehensive income (loss) attributable to La-Z-Boy Incorporated (576) 84 109 (383) Balance at January 28, 2023 $ (2,537) $ (214) $ (3,429) $ (6,180) Balance at April 24, 2021 $ 3,041 $ 370 $ (4,932) $ (1,521) Changes before reclassifications (1,453) (270) — (1,723) Amounts reclassified to net income — 18 225 243 Tax effect — 62 (50) 12 Other comprehensive income (loss) attributable to La-Z-Boy Incorporated (1,453) (190) 175 (1,468) Balance at January 22, 2022 $ 1,588 $ 180 $ (4,757) $ (2,989) We reclassified both the unrealized gain (loss) on marketable securities and the net pension amortization from accumulated other comprehensive loss to net income through other income (expense), net. The components of non-controlling interest were as follows: Quarter Ended Nine Months Ended (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 1/28/2023 1/22/2022 Balance as of the beginning of the period $ 9,128 $ 8,380 $ 8,897 $ 8,648 Net income (loss) (149) 615 1,005 2,157 Other comprehensive loss 1,427 101 504 (449) Dividends distributed to joint venture minority partners — — — (1,260) Balance as of the end of the period $ 10,406 $ 9,096 $ 10,406 $ 9,096

Revenue Recognition

Revenue Recognition	9 Months Ended
	Jan. 28, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Our revenue is primarily derived from product sales. We report product sales net of discounts and recognize them when control (rights and obligations associated with the product) passes to the customer. For sales to furniture retailers or distributors, control typically transfers when we ship the product. In cases where we sell directly to the end consumer, control of the product is generally transferred upon delivery. For shipping and handling activities, we have elected to apply the accounting policy election permitted in ASC 606-10-25-18B, which allows an entity to account for shipping and handling activities as fulfillment activities (rather than as a promised good or service) when the activities are performed even if those activities are performed after the control of the good has been transferred. We expense shipping and handling costs at the time we recognize revenue in accordance with this election. For sales tax, we have elected to apply the accounting policy election permitted in ASC 606-10-32-2A, which allows an entity to exclude from the measurement of the transaction price all taxes imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer, including sales, use, excise, value-added, and franchise taxes (collectively referred to as sales taxes). This allows us to present revenue net of these certain types of taxes. We have elected the practical expedient permitted in ASC 606-10-32-18, which allows an entity to recognize the promised amount of consideration without adjusting for the effects of a significant financing component if the contract has a duration of one year or less. As our contracts typically are less than one year in length and do not have significant financing components, we have not adjusted consideration. The following table presents our revenue disaggregated by product category and by segment or unit: Quarter Ended January 28, 2023 Quarter Ended January 22, 2022 (Unaudited, amounts in thousands) Wholesale Retail Corporate Total Wholesale Retail Corporate Total Motion Upholstery Furniture $ 224,726 $ 153,194 $ 5 $ 377,925 $ 238,119 $ 113,767 $ 288 $ 352,174 Stationary Upholstery Furniture 97,736 52,497 35,248 185,481 94,216 46,938 55,971 197,125 Bedroom Furniture 9,853 2,189 3,121 15,163 6,723 1,598 3,674 11,995 Dining Room Furniture 6,926 3,300 1,025 11,251 5,562 2,802 1,063 9,427 Occasional Furniture 11,550 9,567 875 21,992 7,396 6,672 1,153 15,221 Delivery 50,008 6,881 1,654 58,543 45,168 6,342 2,097 53,607 Other (1) 6,804 23,529 (8,418) 21,915 26,097 18,933 (14,267) 30,763 Total $ 407,603 $ 251,157 $ 33,510 $ 692,270 $ 423,281 $ 197,052 $ 49,979 $ 670,312 Eliminations (119,547) (98,739) Consolidated Net Sales $ 572,723 $ 571,573 Nine Months Ended January 28, 2023 Nine Months Ended January 22, 2022 (Unaudited, amounts in thousands) Wholesale Retail Corporate Total Wholesale Retail Corporate Total Motion Upholstery Furniture $ 683,809 $ 444,110 $ 64 $ 1,127,983 $ 699,433 $ 326,251 $ 538 $ 1,026,222 Stationary Upholstery Furniture 307,128 162,452 132,869 602,449 284,318 133,449 153,590 571,357 Bedroom Furniture 30,145 6,590 12,361 49,096 30,030 5,386 10,524 45,940 Dining Room Furniture 21,778 9,343 3,864 34,985 20,941 9,462 3,270 33,673 Occasional Furniture 34,957 25,300 3,065 63,322 31,746 19,659 2,966 54,371 Delivery 162,783 20,727 5,657 189,167 128,318 20,007 5,629 153,954 Other (1) 55,052 70,808 (32,003) 93,857 61,086 57,105 (37,891) 80,300 Total $ 1,295,652 $ 739,330 $ 125,877 $ 2,160,859 $ 1,255,872 $ 571,319 $ 138,626 $ 1,965,817 Eliminations (372,713) (293,572) Consolidated Net Sales $ 1,788,146 $ 1,672,245 (1) Primarily includes revenue for advertising, royalties, parts, accessories, after-treatment products, surcharges, discounts and allowances, rebates and other sales incentives. Motion Upholstery Furniture - Includes gross revenue for upholstered furniture, such as recliners, sofas, loveseats, chairs, sectionals, and modulars that have a mechanism that allows the back of the product to recline or the product's footrest to extend. This gross revenue includes sales to La-Z-Boy Furniture Galleries ® stores (including company-owned stores), operators of La-Z-Boy Comfort Studio ® locations, England Custom Comfort Center locations, other major dealers, independent retailers, and the end consumer. Stationary Upholstery Furniture - Includes gross revenue for upholstered furniture, such as sofas, loveseats, chairs, sectionals, modulars, and ottomans that do not have a mechanism for reclining or extension. This gross revenue includes sales to La-Z-Boy Furniture Galleries ® stores (including company-owned stores), operators of La-Z-Boy Comfort Studio ® locations, England Custom Comfort Center locations, other major dealers, independent retailers, and the end consumer. Bedroom Furniture - Includes gross revenue for casegoods furniture typically found in a bedroom, such as beds, chests, dressers, nightstands and benches. This gross revenue includes sales to La-Z-Boy Furniture Galleries ® stores (including company-owned stores), independent retailers, and the end consumer. Dining Room Furniture - Includes gross revenue for casegoods furniture typically found in a dining room, such as dining tables, dining chairs, storage units and stools. This gross revenue includes sales to La-Z-Boy Furniture Galleries ® stores (including company-owned stores), independent retailers, and the end consumer. Occasional Furniture - Includes gross revenue for casegoods furniture found throughout the home, such as cocktail tables, chairsides, sofa tables, end tables, and entertainment centers. This gross revenue includes sales to La-Z-Boy Furniture Galleries ® stores (including company-owned stores), independent retailers, and the end consumer. Contract Assets and Liabilities. We receive customer deposits from end consumers before we recognize revenue and in some cases we have the unconditional right to collect the remaining portion of the order price before we fulfill our performance obligation, resulting in a contract asset and a corresponding deferred revenue liability. In our consolidated balance sheet, customer deposits and deferred revenue (collectively, the "contract liabilities") are reported in accrued expenses and other current liabilities while contract assets are reported as other current assets. The following table presents our contract assets and liabilities: (Unaudited, amounts in thousands) 1/28/2023 4/30/2022 Contract assets $ 60,986 $ 139,006 Customer deposits $ 129,019 $ 183,233 Deferred revenue 60,986 139,006 Total contract liabilities (1) $ 190,005 $ 322,239 (1) During the nine months ended January 28, 2023, we recognized revenue of $292.7 million related to our contract liability balance at April 30, 2022.

Segment Information

Segment Information	9 Months Ended
	Jan. 28, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information Our reportable operating segments include the Wholesale segment and the Retail segment. Wholesale Segment . Our Wholesale segment consists primarily of three operating segments: La-Z-Boy, our largest operating segment, our England subsidiary, and our casegoods operating segment that sells furniture under three brands: American Drew ® , Hammary ® and Kincaid ® . The Wholesale segment also includes our international wholesale and manufacturing businesses. We aggregate these operating segments into one reportable segment because they are economically similar and meet the other aggregation criteria for determining reportable segments. Our Wholesale segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans and sleeper sofas and imports casegoods (wood) furniture, such as bedroom sets, dining room sets, entertainment centers and occasional pieces. The Wholesale segment sells directly to La-Z-Boy Furniture Galleries ® stores, operators of La-Z-Boy Comfort Studio ® locations, England Custom Comfort Center locations, major dealers, and a wide cross-section of other independent retailers. Retail Segment . Our Retail segment consists of one operating segment comprised of our 167 company-owned La-Z-Boy Furniture Galleries ® stores. The Retail segment sells primarily upholstered furniture, in addition to some casegoods and other accessories, to end consumers through these stores. Corporate & Other. Corporate & Other includes the shared costs for corporate functions, including human resources, information technology, finance and legal, in addition to revenue generated through royalty agreements with companies licensed to use the La-Z-Boy ® brand name on various products. We consider our corporate functions to be other business activities and have aggregated them with our other insignificant operating segments, including our global trading company in Hong Kong and Joybird, an e-commerce retailer that manufactures upholstered furniture, such as sofas, loveseats, chairs, ottomans, sleeper sofas and beds, and also imports casegoods (wood) furniture, such as occasional tables and other accessories. Joybird sells to the end consumer primarily online through its website, www.joybird.com. None of the operating segments included in Corporate & Other meet the requirements of reportable segments. The following table presents sales and operating income (loss) by segment: Quarter Ended Nine Months Ended (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 1/28/2023 1/22/2022 Sales Wholesale segment: Sales to external customers $ 291,170 $ 328,533 $ 934,511 $ 973,973 Intersegment sales 116,433 94,748 361,141 281,899 Wholesale segment sales 407,603 423,281 1,295,652 1,255,872 Retail segment sales 251,157 197,052 739,330 571,319 Corporate and Other: Sales to external customers 30,396 45,988 114,305 126,953 Intersegment sales 3,114 3,991 11,572 11,673 Corporate and Other sales 33,510 49,979 125,877 138,626 Eliminations (119,547) (98,739) (372,713) (293,572) Consolidated sales $ 572,723 $ 571,573 $ 1,788,146 $ 1,672,245 Operating Income (Loss) Wholesale segment $ 16,940 $ 27,639 $ 81,558 $ 89,098 Retail segment 44,203 24,102 123,855 68,502 Corporate and Other (18,303) (12,254) (48,047) (29,629) Consolidated operating income 42,840 39,487 157,366 127,971 Interest expense (136) (160) (414) (713) Interest income 2,012 806 3,624 1,029 Other income (expense), net (1,062) (1,460) (834) (522) Income before income taxes $ 43,654 $ 38,673 $ 159,742 $ 127,765

Income Taxes

Income Taxes	9 Months Ended
	Jan. 28, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesOur effective tax rate was 27.7% and 26.6% for the third quarter and nine months ended January 28, 2023, respectively, compared with 24.8% and 25.9% for the third quarter and nine months ended January 22, 2022, respectively. The effective tax rate in the third quarter and first nine months of fiscal 2022 was lower partially due to non-taxable gains on corporate owned life insurance and state taxes. Our effective tax rate varies from the 21% federal statutory rate primarily due to state taxes.

Earnings per Share

Earnings per Share	9 Months Ended
	Jan. 28, 2023
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The following is a reconciliation of the numerators and denominators we used in our computations of basic and diluted earnings per share: Quarter Ended Nine Months Ended (Unaudited, amounts in thousands, except per share data) 1/28/2023 1/22/2022 1/28/2023 1/22/2022 Numerator (basic and diluted): Net income attributable to La-Z-Boy Incorporated $ 31,726 $ 28,467 $ 116,291 $ 92,549 Income allocated to participating securities (1) — — — (6) Net income available to common Shareholders $ 31,726 $ 28,467 $ 116,291 $ 92,543 Denominator: Basic weighted average common shares outstanding 43,137 43,701 43,111 44,342 Contingent common shares — 55 — 59 Stock option dilution — 212 — 239 Diluted weighted average common shares outstanding 43,137 43,968 43,111 44,640 Earnings per Share: Basic $ 0.74 $ 0.65 $ 2.70 $ 2.09 Diluted $ 0.74 $ 0.65 $ 2.70 $ 2.07 (1) Prior to fiscal 2019, we granted restricted stock awards that contained non-forfeitable rights to dividends on unvested shares, and we are required to include these participating securities in calculating our basic earnings per common share, using the two-class method. The values for contingent common shares set forth above reflect the dilutive effect of common shares that we would have issued to employees under the terms of performance-based share awards if the relevant performance period for the award had been the reporting period. We exclude the effect of options from our diluted share calculation when the weighted average exercise price of the options is higher than the average market price, since including the options' effect would be anti-dilutive. For the third quarter and nine months ended January 28, 2023, we excluded options to purchase 1.5 million shares from the diluted share calculation. For the third quarter and nine months ended January 22, 2022, we excluded options to purchase 0.2 million shares from the diluted share calculation.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jan. 28, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Accounting standards require that we put financial assets and liabilities into one of three categories based on the inputs we use to value them: • Level 1 — Financial assets and liabilities, the values of which are based on unadjusted quoted market prices for identical assets and liabilities in an active market that we have the ability to access. • Level 2 — Financial assets and liabilities, the values of which are based on quoted prices in markets that are not active or on model inputs that are observable for substantially the full term of the asset or liability. • Level 3 — Financial assets and liabilities, the values of which are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. Accounting standards require that in making fair value measurements, we use observable market data when available. When inputs used to measure fair value fall within different levels of the hierarchy, we categorize the fair value measurement as being in the lowest level that is significant to the measurement. We recognize transfers between levels of the fair value hierarchy at the end of the reporting period in which they occur. In addition to assets and liabilities that we record at fair value on a recurring basis, we are required to record assets and liabilities at fair value on a non-recurring basis. We measure non-financial assets such as other intangible assets, goodwill, and other long-lived assets at fair value when there is an indicator of impairment, and we record them at fair value only when we recognize an impairment loss. Refer to Note 1, Basis of Presentation, for additional information. The following table presents the fair value hierarchy for those assets and liabilities we measured at fair value on a recurring basis at January 28, 2023 and April 30, 2022. There were no transfers into or out of Level 1, Level 2, or Level 3 for any of the periods presented. At January 28, 2023 Fair Value Measurements (Unaudited, amounts in thousands) Level 1 Level 2 Level 3 NAV(1) Total Assets Marketable securities $ — $ 21,044 $ 2,737 $ 6,886 $ 30,667 Held-to-maturity investments 1,404 — — — 1,404 Cost basis investments — — 7,579 — 7,579 Total assets $ 1,404 $ 21,044 $ 10,316 $ 6,886 $ 39,650 At April 30, 2022 Fair Value Measurements (Unaudited, amounts in thousands) Level 1 Level 2 Level 3 NAV(1) Total Assets Marketable securities $ — $ 33,578 $ 2,500 $ 6,543 $ 42,621 Held-to-maturity investments 1,337 — — — 1,337 Cost basis investment — — 7,579 — 7,579 Total assets $ 1,337 $ 33,578 $ 10,079 $ 6,543 $ 51,537 Liabilities Contingent consideration liability $ — $ — $ 800 $ — $ 800 (1) Certain marketable securities investments are measured at fair value using net asset value per share under the practical expedient methodology. At January 28, 2023 and April 30, 2022, we held marketable securities intended to enhance returns on our cash and to fund future obligations of our non-qualified defined benefit retirement plan, our executive deferred compensation plan and our performance compensation retirement plan. We also held other fixed income and cost basis investments. The fair value measurements for our Level 1 and Level 2 securities are based on quoted prices in active markets, as well as through broker quotes and independent valuation providers, multiplied by the number of shares owned exclusive of any transaction costs. At January 28, 2023 and April 30, 2022, our Level 3 assets included investments in two privately-held companies consisting of non-marketable preferred shares, warrants to purchase common shares, and convertible notes. The fair value of these equity investments (preferred shares and warrants) is not readily determinable and therefore, we estimate the fair value as cost minus impairment, if any, plus or minus adjustments resulting from observable price changes in orderly transactions for identical or similar investments with the same issuer. The convertible notes are recorded at fair value with the net unrealized gains and losses (that are deemed to be temporary) reported as a component of other comprehensive income, consistent with our other available-for-sale debt securities. During the third quarter of fiscal 2023, we invested an additional $0.2 million in convertible notes in one of these privately-held start-up companies. There were no other changes to the fair value of our Level 3 assets during the nine months ended January 28, 2023. Our Level 3 liability includes our contingent consideration liability resulting from the Joybird acquisition. The fair value is determined using a variation of the income approach, known as the real options method, whereby revenue and earnings are simulated over the earnout periods in a risk-neutral framework using Geometric Brownian Motion. For each simulation path, the potential earnout payments were calculated based on management’s probability estimates for achievement of the revenue and earnings milestones and then were discounted to the valuation date using a discount rate of 6.8%. The fair value of our contingent consideration liability as of January 28, 2023 reflects our expectation that no additional consideration will be owed based on our most recent financial projections and the terms of the earnout agreement. As a result, during the second quarter of fiscal 2023, we reduced the fair value of the contingent consideration liability by its full carrying value of $0.8 million which was recorded as a favorable impact to selling, general and administrative expense in the consolidated statement of income. There were no other changes to the fair value of our Level 3 liabilities during the nine months ended January 28, 2023.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Jan. 28, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Recent accounting pronouncements	Accounting pronouncements adopted in fiscal 2023 We did not adopt any Accounting Standards Updates ("ASUs") in the first nine months of fiscal 2023. Accounting pronouncements not yet adopted The following table summarizes additional accounting pronouncements which we have not yet adopted, but we believe will not have a material impact on our accounting policies or our consolidated financial statements and related disclosures. ASU Description Adoption Date ASU 2021-08 Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities From Contracts With Customers Fiscal 2024 Torreón Closure During the third quarter of fiscal 2023, we made the decision to close our manufacturing facility in Torreón, Mexico as part of our initiative to drive improved efficiencies through optimized staffing levels within our plants. Torreón was the last facility to begin operating as part of our broader Mexico manufacturing expansion in fiscal 2021 and 2022 and accounted for approximately 3% of our La-Z-Boy branded production. As a result of this action, charges were recorded within the Wholesale segment in the third quarter of fiscal 2023 of $9.2 million in selling, general, and administrative expense for the impairment of various assets, primarily long-lived assets, and $0.9 million in cost of sales, primarily related to severance.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Jan. 28, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of New Accounting Pronouncements Adopted and Not Yet Adopted	The following table summarizes additional accounting pronouncements which we have not yet adopted, but we believe will not have a material impact on our accounting policies or our consolidated financial statements and related disclosures. ASU Description Adoption Date ASU 2021-08 Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities From Contracts With Customers Fiscal 2024

Cash and Restricted Cash (Table

Cash and Restricted Cash (Tables)	9 Months Ended
	Jan. 28, 2023
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	We have restricted cash on deposit with a bank as collateral for certain letters of credit. All our letters of credit have maturity dates within the next twelve months, but we expect to renew some of these letters of credit when they mature. (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 Cash and cash equivalents $ 280,763 $ 236,712 Restricted cash 3,282 3,266 Total cash, cash equivalents and restricted cash $ 284,045 $ 239,978
Restrictions on Cash and Cash Equivalents	We have restricted cash on deposit with a bank as collateral for certain letters of credit. All our letters of credit have maturity dates within the next twelve months, but we expect to renew some of these letters of credit when they mature. (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 Cash and cash equivalents $ 280,763 $ 236,712 Restricted cash 3,282 3,266 Total cash, cash equivalents and restricted cash $ 284,045 $ 239,978

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jan. 28, 2023
Inventory Disclosure [Abstract]
Summary of inventories	A summary of inventories is as follows: (Unaudited, amounts in thousands) 1/28/2023 4/30/2022 Raw materials $ 137,042 $ 146,896 Work in process 25,119 36,834 Finished goods 198,680 185,870 FIFO inventories 360,841 369,600 Excess of FIFO over LIFO (57,288) (66,409) Total inventories $ 303,553 $ 303,191

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Jan. 28, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	We have goodwill on our consolidated balance sheet as follows: Reportable Segment/Unit Reporting Unit Related Acquisition Wholesale Segment La-Z-Boy United Kingdom Wholesale business in the United Kingdom and Ireland Wholesale Segment La-Z-Boy United Kingdom Manufacturing La-Z-Boy United Kingdom Manufacturing (Furnico) Retail Segment Retail La-Z-Boy Furniture Galleries ® stores Corporate & Other Joybird Joybird The following table summarizes changes in the carrying amount of our goodwill by reportable segment: (Unaudited, amounts in thousands) Wholesale Retail Corporate Total Balance at April 30, 2022 (1) $ 20,207 $ 118,951 $ 55,446 $ 194,604 Acquisitions — 10,598 — 10,598 Translation adjustment (295) (126) — (421) Balance at January 28, 2023 (1) $ 19,912 $ 129,423 $ 55,446 $ 204,781
Schedule of Other Intangible Assets - Indefinite-Lived	We have intangible assets on our consolidated balance sheet as follows: Reportable Segment/Unit Intangible Asset Useful Life Wholesale Segment Primarily acquired customer relationships from our acquisition of the wholesale business in the United Kingdom and Ireland Amortizable over useful lives that do not exceed 15 years Wholesale Segment American Drew ® trade name Indefinite-lived Retail Segment Reacquired rights to own and operate La-Z-Boy Furniture Galleries ® stores Indefinite-lived Corporate & Other Joybird ® trade name Amortizable over eight The following summarizes changes in our intangible assets: (Unaudited, amounts in thousands) Indefinite- Finite-Lived Indefinite- Other Total Balance at April 30, 2022 $ 1,155 $ 3,392 $ 27,319 $ 2,105 $ 33,971 Acquisitions — — 6,093 — 6,093 Amortization — (599) — (155) (754) Translation adjustment — — (95) (35) (130) Balance at January 28, 2023 $ 1,155 $ 2,793 $ 33,317 $ 1,915 $ 39,180
Schedule of Other Intangible Assets - Finite-Lived	We have intangible assets on our consolidated balance sheet as follows: Reportable Segment/Unit Intangible Asset Useful Life Wholesale Segment Primarily acquired customer relationships from our acquisition of the wholesale business in the United Kingdom and Ireland Amortizable over useful lives that do not exceed 15 years Wholesale Segment American Drew ® trade name Indefinite-lived Retail Segment Reacquired rights to own and operate La-Z-Boy Furniture Galleries ® stores Indefinite-lived Corporate & Other Joybird ® trade name Amortizable over eight The following summarizes changes in our intangible assets: (Unaudited, amounts in thousands) Indefinite- Finite-Lived Indefinite- Other Total Balance at April 30, 2022 $ 1,155 $ 3,392 $ 27,319 $ 2,105 $ 33,971 Acquisitions — — 6,093 — 6,093 Amortization — (599) — (155) (754) Translation adjustment — — (95) (35) (130) Balance at January 28, 2023 $ 1,155 $ 2,793 $ 33,317 $ 1,915 $ 39,180

Investments (Tables)

Investments (Tables)	9 Months Ended
	Jan. 28, 2023
Investments, Debt and Equity Securities [Abstract]
Summary of Investments	The following summarizes our investments: (Unaudited, amounts in thousands) 1/28/2023 4/30/2022 Short-term investments: Marketable securities $ 10,911 $ 16,022 Held-to-maturity investments 1,404 1,337 Total short-term investments 12,315 17,359 Long-term investments: Marketable securities 19,756 26,599 Cost basis investments 7,579 7,579 Total long-term investments 27,335 34,178 Total investments $ 39,650 $ 51,537 Investments to enhance returns on cash $ 15,793 $ 27,239 Investments to fund compensation/retirement plans 13,542 14,219 Other investments 10,315 10,079 Total investments $ 39,650 $ 51,537
Summary of Unrealized Gains, Unrealized Losses, and Fair Value By Investment Type	The following is a summary of the unrealized gains, unrealized losses, and fair value by investment type: 1/28/2023 4/30/2022 (Unaudited, amounts in thousands) Gross Gross Fair Value Gross Gross Fair Value Equity securities $ 1,316 $ (94) $ 14,213 $ 1,448 $ (86) $ 13,905 Fixed income 45 (715) 21,201 28 (809) 33,521 Other 1,210 — 4,236 1,250 — 4,111 Total securities $ 2,571 $ (809) $ 39,650 $ 2,726 $ (895) $ 51,537
Summary of Sales of Marketable Securities	The following table summarizes sales of marketable securities: Quarter Ended Nine Months Ended (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 1/28/2023 1/22/2022 Proceeds from sales $ 5,514 $ 7,784 $ 18,178 $ 29,437 Gross realized gains 3 142 52 696 Gross realized losses (81) (20) (207) (356)
Summary of Fair Value of Fixed Income Marketable Securities	The following is a summary of the fair value of fixed income marketable securities, classified as available-for-sale securities, by contractual maturity: (Unaudited, amounts in thousands) 1/28/2023 Within one year $ 10,907 Within two to five years 7,836 Within six to ten years 572 Thereafter 1,886 Total $ 21,201

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
	Jan. 28, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	(Unaudited, amounts in thousands) 1/28/2023 4/30/2022 Payroll and other compensation $ 59,534 $ 62,373 Accrued product warranty, current portion 18,517 16,436 Customer deposits 129,019 183,233 Deferred revenue 60,986 139,006 Other current liabilities 77,304 95,345 Accrued expenses and other current liabilities $ 345,360 $ 496,393

Product Warranties (Tables)

Product Warranties (Tables)	9 Months Ended
	Jan. 28, 2023
Product Warranties Disclosures [Abstract]
Reconciliation of changes in product warranty liability	A reconciliation of the changes in our product warranty liability is as follows: Quarter Ended Nine Months Ended (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 1/28/2023 (1) 1/22/2022 Balance as of the beginning of the period $ 28,357 $ 25,068 $ 27,036 $ 23,636 Acquisitions — 634 — 634 Accruals during the period 8,663 7,271 24,942 21,158 Settlements during the period (7,722) (6,612) (22,680) (19,067) Balance as of the end of the period $ 29,298 $ 26,361 $ 29,298 $ 26,361 (1) $18.5 million and $16.4 million is recorded in accrued expenses and other current liabilities as of January 28, 2023, and April 30, 2022, respectively, while the remainder is included in other long-term liabilities.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Jan. 28, 2023
Share-Based Payment Arrangement [Abstract]
Summary of total stock-based compensation expense	The table below summarizes the total stock-based compensation expense we recognized for all outstanding grants in our consolidated statement of income: Quarter Ended Nine Months Ended (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 1/28/2023 1/22/2022 Equity-based awards expense $ 3,377 $ 2,533 $ 8,456 $ 8,887 Liability-based awards expense (1) (54) (73) 92 (696) Total stock-based compensation expense $ 3,323 $ 2,460 $ 8,548 $ 8,191
Fair value assumptions for stock options	The fair value of stock options granted during the first quarter of fiscal 2023 was calculated using the following assumptions: (Unaudited) Fiscal 2023 grant Assumption Risk-free interest rate 2.87% U.S. Treasury issues with term equal to expected life at grant date Dividend rate 2.70% Estimated future dividend rate and common share price at grant date Expected life 5.0 years Contractual term of stock option and expected employee exercise trends Stock price volatility 42.78% Historical volatility of our common shares Fair value per option $ 7.90

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Jan. 28, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of activity in accumulated other comprehensive income (loss)	The activity in accumulated other comprehensive income (loss) for the quarters ended January 28, 2023, and January 22, 2022, is as follows: (Unaudited, amounts in thousands) Translation adjustment Unrealized gain (loss) on marketable securities Net pension amortization and net actuarial loss Accumulated other comprehensive income (loss) Balance at October 29, 2022 $ (6,551) $ (501) $ (3,465) $ (10,517) Changes before reclassifications 4,014 303 — 4,317 Amounts reclassified to net income — 78 49 127 Tax effect — (94) (13) (107) Other comprehensive income (loss) attributable to La-Z-Boy Incorporated 4,014 287 36 4,337 Balance at January 28, 2023 $ (2,537) $ (214) $ (3,429) $ (6,180) Balance at October 23, 2021 $ 2,340 $ 320 $ (4,813) $ (2,153) Changes before reclassifications (752) (201) — (953) Amounts reclassified to net income — 16 75 91 Tax effect — 45 (19) 26 Other comprehensive income (loss) attributable to La-Z-Boy Incorporated (752) (140) 56 (836) Balance at January 22, 2022 $ 1,588 $ 180 $ (4,757) $ (2,989) The activity in accumulated other comprehensive income (loss) for the nine months ended January 28, 2023 and January 22, 2022, is as follows: (Unaudited, amounts in thousands) Translation adjustment Unrealized gain (loss) on marketable securities Net pension amortization and net actuarial loss Accumulated other comprehensive income (loss) Balance at April 30, 2022 $ (1,961) $ (298) $ (3,538) $ (5,797) Changes before reclassifications (576) (87) — (663) Amounts reclassified to net income — 199 145 344 Tax effect — (28) (36) (64) Other comprehensive income (loss) attributable to La-Z-Boy Incorporated (576) 84 109 (383) Balance at January 28, 2023 $ (2,537) $ (214) $ (3,429) $ (6,180) Balance at April 24, 2021 $ 3,041 $ 370 $ (4,932) $ (1,521) Changes before reclassifications (1,453) (270) — (1,723) Amounts reclassified to net income — 18 225 243 Tax effect — 62 (50) 12 Other comprehensive income (loss) attributable to La-Z-Boy Incorporated (1,453) (190) 175 (1,468) Balance at January 22, 2022 $ 1,588 $ 180 $ (4,757) $ (2,989)
Schedule of components of non-controlling interest	The components of non-controlling interest were as follows: Quarter Ended Nine Months Ended (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 1/28/2023 1/22/2022 Balance as of the beginning of the period $ 9,128 $ 8,380 $ 8,897 $ 8,648 Net income (loss) (149) 615 1,005 2,157 Other comprehensive loss 1,427 101 504 (449) Dividends distributed to joint venture minority partners — — — (1,260) Balance as of the end of the period $ 10,406 $ 9,096 $ 10,406 $ 9,096

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Jan. 28, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table presents our revenue disaggregated by product category and by segment or unit: Quarter Ended January 28, 2023 Quarter Ended January 22, 2022 (Unaudited, amounts in thousands) Wholesale Retail Corporate Total Wholesale Retail Corporate Total Motion Upholstery Furniture $ 224,726 $ 153,194 $ 5 $ 377,925 $ 238,119 $ 113,767 $ 288 $ 352,174 Stationary Upholstery Furniture 97,736 52,497 35,248 185,481 94,216 46,938 55,971 197,125 Bedroom Furniture 9,853 2,189 3,121 15,163 6,723 1,598 3,674 11,995 Dining Room Furniture 6,926 3,300 1,025 11,251 5,562 2,802 1,063 9,427 Occasional Furniture 11,550 9,567 875 21,992 7,396 6,672 1,153 15,221 Delivery 50,008 6,881 1,654 58,543 45,168 6,342 2,097 53,607 Other (1) 6,804 23,529 (8,418) 21,915 26,097 18,933 (14,267) 30,763 Total $ 407,603 $ 251,157 $ 33,510 $ 692,270 $ 423,281 $ 197,052 $ 49,979 $ 670,312 Eliminations (119,547) (98,739) Consolidated Net Sales $ 572,723 $ 571,573 Nine Months Ended January 28, 2023 Nine Months Ended January 22, 2022 (Unaudited, amounts in thousands) Wholesale Retail Corporate Total Wholesale Retail Corporate Total Motion Upholstery Furniture $ 683,809 $ 444,110 $ 64 $ 1,127,983 $ 699,433 $ 326,251 $ 538 $ 1,026,222 Stationary Upholstery Furniture 307,128 162,452 132,869 602,449 284,318 133,449 153,590 571,357 Bedroom Furniture 30,145 6,590 12,361 49,096 30,030 5,386 10,524 45,940 Dining Room Furniture 21,778 9,343 3,864 34,985 20,941 9,462 3,270 33,673 Occasional Furniture 34,957 25,300 3,065 63,322 31,746 19,659 2,966 54,371 Delivery 162,783 20,727 5,657 189,167 128,318 20,007 5,629 153,954 Other (1) 55,052 70,808 (32,003) 93,857 61,086 57,105 (37,891) 80,300 Total $ 1,295,652 $ 739,330 $ 125,877 $ 2,160,859 $ 1,255,872 $ 571,319 $ 138,626 $ 1,965,817 Eliminations (372,713) (293,572) Consolidated Net Sales $ 1,788,146 $ 1,672,245 (1) Primarily includes revenue for advertising, royalties, parts, accessories, after-treatment products, surcharges, discounts and allowances, rebates and other sales incentives.
Contract with Customer, Contract Assets and Contract Liabilities	The following table presents our contract assets and liabilities: (Unaudited, amounts in thousands) 1/28/2023 4/30/2022 Contract assets $ 60,986 $ 139,006 Customer deposits $ 129,019 $ 183,233 Deferred revenue 60,986 139,006 Total contract liabilities (1) $ 190,005 $ 322,239 (1) During the nine months ended January 28, 2023, we recognized revenue of $292.7 million related to our contract liability balance at April 30, 2022.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jan. 28, 2023
Segment Reporting [Abstract]
Schedule of Operating Income (Loss) by Segment	The following table presents sales and operating income (loss) by segment: Quarter Ended Nine Months Ended (Unaudited, amounts in thousands) 1/28/2023 1/22/2022 1/28/2023 1/22/2022 Sales Wholesale segment: Sales to external customers $ 291,170 $ 328,533 $ 934,511 $ 973,973 Intersegment sales 116,433 94,748 361,141 281,899 Wholesale segment sales 407,603 423,281 1,295,652 1,255,872 Retail segment sales 251,157 197,052 739,330 571,319 Corporate and Other: Sales to external customers 30,396 45,988 114,305 126,953 Intersegment sales 3,114 3,991 11,572 11,673 Corporate and Other sales 33,510 49,979 125,877 138,626 Eliminations (119,547) (98,739) (372,713) (293,572) Consolidated sales $ 572,723 $ 571,573 $ 1,788,146 $ 1,672,245 Operating Income (Loss) Wholesale segment $ 16,940 $ 27,639 $ 81,558 $ 89,098 Retail segment 44,203 24,102 123,855 68,502 Corporate and Other (18,303) (12,254) (48,047) (29,629) Consolidated operating income 42,840 39,487 157,366 127,971 Interest expense (136) (160) (414) (713) Interest income 2,012 806 3,624 1,029 Other income (expense), net (1,062) (1,460) (834) (522) Income before income taxes $ 43,654 $ 38,673 $ 159,742 $ 127,765

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Jan. 28, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings per Share	The following is a reconciliation of the numerators and denominators we used in our computations of basic and diluted earnings per share: Quarter Ended Nine Months Ended (Unaudited, amounts in thousands, except per share data) 1/28/2023 1/22/2022 1/28/2023 1/22/2022 Numerator (basic and diluted): Net income attributable to La-Z-Boy Incorporated $ 31,726 $ 28,467 $ 116,291 $ 92,549 Income allocated to participating securities (1) — — — (6) Net income available to common Shareholders $ 31,726 $ 28,467 $ 116,291 $ 92,543 Denominator: Basic weighted average common shares outstanding 43,137 43,701 43,111 44,342 Contingent common shares — 55 — 59 Stock option dilution — 212 — 239 Diluted weighted average common shares outstanding 43,137 43,968 43,111 44,640 Earnings per Share: Basic $ 0.74 $ 0.65 $ 2.70 $ 2.09 Diluted $ 0.74 $ 0.65 $ 2.70 $ 2.07

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jan. 28, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value Hierarchy	The following table presents the fair value hierarchy for those assets and liabilities we measured at fair value on a recurring basis at January 28, 2023 and April 30, 2022. There were no transfers into or out of Level 1, Level 2, or Level 3 for any of the periods presented. At January 28, 2023 Fair Value Measurements (Unaudited, amounts in thousands) Level 1 Level 2 Level 3 NAV(1) Total Assets Marketable securities $ — $ 21,044 $ 2,737 $ 6,886 $ 30,667 Held-to-maturity investments 1,404 — — — 1,404 Cost basis investments — — 7,579 — 7,579 Total assets $ 1,404 $ 21,044 $ 10,316 $ 6,886 $ 39,650 At April 30, 2022 Fair Value Measurements (Unaudited, amounts in thousands) Level 1 Level 2 Level 3 NAV(1) Total Assets Marketable securities $ — $ 33,578 $ 2,500 $ 6,543 $ 42,621 Held-to-maturity investments 1,337 — — — 1,337 Cost basis investment — — 7,579 — 7,579 Total assets $ 1,337 $ 33,578 $ 10,079 $ 6,543 $ 51,537 Liabilities Contingent consideration liability $ — $ — $ 800 $ — $ 800

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Millions	3 Months Ended
	Jan. 28, 2023 USD ($) company
Torreon Facility
Variable Interest Entity [Line Items]
Percent of production	3%
Discontinued Operations, Disposed of by Means Other than Sale | Torreon Facility
Variable Interest Entity [Line Items]
Selling, general, and administrative expense	$ (9.2)
Cost of sales	$ 0.9
Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Preferred share investments with common share warrant, number of privately-held companies | company	2

Acquisitions (Details)

Acquisitions (Details) $ in Thousands						3 Months Ended		6 Months Ended		9 Months Ended
	Sep. 26, 2022 USD ($) center store	Jul. 18, 2022 USD ($) center store	Dec. 06, 2021 USD ($) store	Oct. 25, 2021 USD ($)	Aug. 16, 2021 USD ($) store	Oct. 29, 2022 USD ($)	Oct. 23, 2021 USD ($)	Oct. 29, 2022 USD ($)	Apr. 30, 2022 USD ($)	Jan. 28, 2023 USD ($)	Jan. 22, 2022 USD ($)
Business Acquisition [Line Items]
Goodwill									$ 194,604	$ 204,781
Indefinite-lived intangible assets acquired										6,093
Total cash paid										$ 11,855	$ 24,849
Retail
Business Acquisition [Line Items]
Indefinite-lived intangible assets acquired			$ 4,100
Independently-owned Business
Business Acquisition [Line Items]
Consideration transferred			8,300
Total cash paid			$ 8,000
Independently-owned Business | Retail
Business Acquisition [Line Items]
Goodwill				$ 9,200					7,400
Indefinite-lived intangible assets and goodwill assets, useful life (in years)			15 years
Spokane, Washington | Independently-owned Business
Business Acquisition [Line Items]
Number of stores acquired | store	1
Number of distribution center acquired | center	1
Consideration transferred	$ 4,700
Cash paid						$ 4,000
Indefinite-lived intangible asset, reacquired rights	$ 1,200
Indefinite-lived intangible assets and goodwill assets, useful life (in years)	15 years
Spokane, Washington | Independently-owned Business | Retail
Business Acquisition [Line Items]
Goodwill	$ 3,000
Denver, Colorado | Independently-owned Business
Business Acquisition [Line Items]
Number of stores acquired | store		5
Number of distribution center acquired | center		1
Consideration transferred		$ 10,100
Cash paid								$ 7,700
Indefinite-lived intangible assets and goodwill assets, useful life (in years)		15 years
Indefinite-lived intangible assets acquired		$ 4,300
Denver, Colorado | Independently-owned Business | Retail
Business Acquisition [Line Items]
Goodwill		$ 7,600
Long Island, New York | Independently-owned Business
Business Acquisition [Line Items]
Number of stores acquired | store					3
Consideration transferred					$ 4,500
Cash paid							$ 4,400
Indefinite-lived intangible assets and goodwill assets, useful life (in years)					15 years
Indefinite-lived intangible assets acquired					$ 800
Long Island, New York | Independently-owned Business | Retail
Business Acquisition [Line Items]
Goodwill					$ 4,400
ALABAMA | Independently-owned Business
Business Acquisition [Line Items]
Number of stores acquired | store			4
Chattanooga, Tennessee | Independently-owned Business
Business Acquisition [Line Items]
Number of stores acquired | store			1
UK | Furnico
Business Acquisition [Line Items]
Consideration transferred				$ 13,300
Cash paid									$ 13,900

Cash and Restricted Cash (Detai

Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Apr. 30, 2022	Jan. 22, 2022	Apr. 24, 2021
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 280,763	$ 245,589	$ 236,712
Restricted cash	3,282	3,267	3,266
Total cash, cash equivalents and restricted cash	$ 284,045	$ 248,856	$ 239,978	$ 394,703

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Apr. 30, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 137,042	$ 146,896
Work in process	25,119	36,834
Finished goods	198,680	185,870
FIFO inventories	360,841	369,600
Excess of FIFO over LIFO	(57,288)	(66,409)
Total inventories	$ 303,553	$ 303,191

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details) $ in Thousands	9 Months Ended
	Jan. 28, 2023 USD ($)
Roll-forward of goodwill
Balance at beginning of period	$ 194,604
Acquisitions	10,598
Translation adjustment	(421)
Balance at end of period	204,781
Corporate and Other
Roll-forward of goodwill
Balance at beginning of period	55,446
Acquisitions	0
Translation adjustment	0
Balance at end of period	55,446
Goodwill, impairment loss	26,900
Wholesale Segment | Operating Segments
Roll-forward of goodwill
Balance at beginning of period	20,207
Acquisitions	0
Translation adjustment	(295)
Balance at end of period	19,912
Retail Segment | Operating Segments
Roll-forward of goodwill
Balance at beginning of period	118,951
Acquisitions	10,598
Translation adjustment	(126)
Balance at end of period	$ 129,423

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) $ in Thousands	9 Months Ended
	Jan. 28, 2023 USD ($)
Roll-forward of other intangible assets
Balance at beginning of period	$ 33,971
Acquisitions	6,093
Amortization	(754)
Translation adjustment	(130)
Balance at end of period	39,180
Finite-Lived Trade Name
Roll-forward of other intangible assets
Balance at beginning of period	3,392
Acquisitions	0
Amortization	(599)
Translation adjustment	0
Balance at end of period	2,793
Other Intangible Assets
Roll-forward of other intangible assets
Balance at beginning of period	2,105
Acquisitions	0
Amortization	(155)
Translation adjustment	(35)
Balance at end of period	1,915
Finite-Lived Trade Name
Roll-forward of other intangible assets
Balance at beginning of period	1,155
Acquisitions	0
Amortization	0
Translation adjustment	0
Balance at end of period	1,155
Indefinite- Lived Reacquired Rights
Roll-forward of other intangible assets
Balance at beginning of period	27,319
Acquisitions	6,093
Amortization	0
Translation adjustment	(95)
Balance at end of period	$ 33,317
Corporate and Other
Other intangible assets
Useful life	8 years
Maximum | Wholesale Segment | Operating Segments
Other intangible assets
Useful life	15 years

Investments - Additional Inform

Investments - Additional Information (Details)	Jan. 28, 2023 company
Investments, Debt and Equity Securities [Abstract]
Number of privately-held companies	2

Investments - Components (Detai

Investments - Components (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Apr. 30, 2022
Investments
Total investments	$ 39,650	$ 51,537
Investments to enhance returns on cash
Investments
Total investments	15,793	27,239
Investments to fund compensation/retirement plans
Investments
Total investments	13,542	14,219
Other investments
Investments
Total investments	10,315	10,079
Short-term investments
Investments
Marketable securities	10,911	16,022
Held-to-maturity investments	1,404	1,337
Total investments	12,315	17,359
Long-term investments
Investments
Marketable securities	19,756	26,599
Cost basis investments	7,579	7,579
Total investments	$ 27,335	$ 34,178

Investments - Unrealized Gains

Investments - Unrealized Gains and Losses and Fair Value (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Apr. 30, 2022
Summary of investments
Gross Unrealized  Gains	$ 2,571	$ 2,726
Gross Unrealized  Losses	(809)	(895)
Fair Value	39,650	51,537
Equity securities
Summary of investments
Gross Unrealized  Gains	1,316	1,448
Gross Unrealized  Losses	(94)	(86)
Fair Value	14,213	13,905
Fixed income
Summary of investments
Gross Unrealized  Gains	45	28
Gross Unrealized  Losses	(715)	(809)
Fair Value	21,201	33,521
Other
Summary of investments
Gross Unrealized  Gains	1,210	1,250
Gross Unrealized  Losses	0	0
Fair Value	$ 4,236	$ 4,111

Investments - Sales and Maturit

Investments - Sales and Maturities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 28, 2023	Jan. 22, 2022	Jan. 28, 2023	Jan. 22, 2022
Sales of Marketable Securities
Proceeds from sales	$ 5,514	$ 7,784	$ 18,178	$ 29,437
Gross realized gains	3	142	52	696
Gross realized losses	(81)	$ (20)	(207)	$ (356)
Fair Value of Available-For-Sale Securities By Contractual Maturity
Within one year	10,907		10,907
Within two to five years	7,836		7,836
Within six to ten years	572		572
Thereafter	1,886		1,886
Total	$ 21,201		$ 21,201

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Apr. 30, 2022
Payables and Accruals [Abstract]
Payroll and other compensation	$ 59,534	$ 62,373
Accrued product warranty, current portion	18,517	16,436
Customer deposits	129,019	183,233
Deferred revenue	60,986	139,006
Other current liabilities	77,304	95,345
Accrued expenses and other current liabilities	$ 345,360	$ 496,393

Product Warranties (Details)

Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 28, 2023	Jan. 22, 2022	Jan. 28, 2023	Jan. 22, 2022	Apr. 30, 2022
Reconciliation of changes in product warranty liability
Balance as of the beginning of the period	$ 28,357	$ 25,068	$ 27,036	$ 23,636
Acquisitions	0	634	0	634
Accruals during the period	8,663	7,271	24,942	21,158
Settlements during the period	(7,722)	(6,612)	(22,680)	(19,067)
Balance as of the end of the period	29,298	$ 26,361	29,298	$ 26,361
Product warranty liability accrued	$ 18,500		$ 18,500		$ 16,400
Minimum | Wholesale Segment
Product Warranties
Percentage of warranty liability relating to the segment			90%
Fabric and leather | Minimum | Wholesale Segment
Product Warranties
Warranty term (in years)			1 year
Fabric and leather | Maximum | Wholesale Segment
Product Warranties
Warranty term (in years)			3 years
Cushions and padding | Minimum | Wholesale Segment
Product Warranties
Warranty term (in years)			1 year
Cushions and padding | Maximum | Wholesale Segment
Product Warranties
Warranty term (in years)			10 years
Labor costs relating to parts | Wholesale Segment
Product Warranties
Warranty term (in years)			1 year

Stock-Based Compensation - Expe

Stock-Based Compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 28, 2023	Jan. 22, 2022	Jan. 28, 2023	Jan. 22, 2022
Stock-based compensation expense recognized for outstanding grants
Equity-based awards expense	$ 3,377	$ 2,533	$ 8,456	$ 8,887
Liability-based awards expense	(54)	(73)	92	(696)
Total stock-based compensation expense	$ 3,323	$ 2,460	$ 8,548	$ 8,191

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options, Additional Information (Details) - shares	3 Months Ended	9 Months Ended
	Jul. 30, 2022	Jan. 28, 2023
Stock Options
Stock-Based Compensation
Shares granted (in shares)	318,411
Stock Options | Minimum
Stock-Based Compensation
Vesting period		1 year
Stock Options | Maximum
Stock-Based Compensation
Vesting period		4 years
Restricted Stock
Stock-Based Compensation
Vesting period		4 years
Restricted Stock | Minimum
Stock-Based Compensation
Period of recognition of expenses for retirement-eligible employees from the grant date		10 months

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Options, Fair Value Assumptions (Details) - Stock Options	9 Months Ended
	Jan. 28, 2023 $ / shares
Stock-Based Compensation
Risk-free interest rate	2.87%
Dividend rate	2.70%
Expected life	5 years
Stock price volatility	42.78%
Fair value per share (in dollars per share)	$ 7.90

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock, Additional Information (Details) - Restricted Stock - $ / shares	3 Months Ended		9 Months Ended
	Jan. 28, 2023	Oct. 29, 2022	Jan. 28, 2023
Stock-Based Compensation
Number of shares or units granted (in shares)		36,656	256,128
Percentage vesting each year from date of grant			25%
Vesting period			4 years
Period from grant date for first vesting			1 year
Fair value per share (in dollars per share)	$ 26.19		$ 24.58
Minimum
Stock-Based Compensation
Period of recognition of expenses for retirement-eligible employees from the grant date			10 months

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance Shares, Additional Information (Details) - $ / shares	3 Months Ended	9 Months Ended
	Jul. 30, 2022	Jan. 28, 2023
Performance-Based Shares
Stock-Based Compensation
Number of shares or units granted (in shares)	240,833
Performance Awards
Stock-Based Compensation
Performance awards, performance period	3 years
Performance Awards | Fiscal 2022 Grant
Stock-Based Compensation
Percentage of payout dependent on financial performance	50%
Percentage of payout dependent on total shareholder return	50%
Granted (in dollars per share)		$ 22.43
Performance Awards | Minimum
Stock-Based Compensation
Performance award opportunity as a percentage of target award	50%
Performance Awards | Maximum
Stock-Based Compensation
Performance award opportunity as a percentage of target award	200%
Performance Based Shares, vesting based on market conditions | Fiscal 2022 Grant
Stock-Based Compensation
Granted (in dollars per share)		$ 36.63

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Jan. 28, 2023	Oct. 29, 2022	Jul. 30, 2022	Jan. 22, 2022	Oct. 23, 2021	Jul. 24, 2021	Jan. 28, 2023	Jan. 22, 2022
Activity in accumulated other comprehensive loss
Beginning balance	$ 883,786	$ 844,092	$ 819,622	$ 785,682	$ 764,449	$ 782,146	$ 819,622	$ 782,146
Changes before reclassifications	4,317			(953)			(663)	(1,723)
Amounts reclassified to net income	127			91			344	243
Tax effect	(107)			26			(64)	12
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	4,337			(836)			(383)	(1,468)
Ending balance	916,504	883,786	844,092	784,483	785,682	764,449	916,504	784,483
Components of non-controlling interest
Beginning balance	883,786	844,092	819,622	785,682	764,449	782,146	819,622	782,146
Net income	31,577	46,779	38,940	29,082	40,358	25,266	117,296	94,706
Other comprehensive loss	5,764	(3,605)	(2,038)	(735)	(450)	(732)	121	(1,917)
Ending balance	916,504	883,786	844,092	784,483	785,682	764,449	916,504	784,483
Accumulated other comprehensive income (loss)
Activity in accumulated other comprehensive loss
Beginning balance	(10,517)		(5,797)	(2,153)		(1,521)	(5,797)	(1,521)
Ending balance	(6,180)	(10,517)		(2,989)	(2,153)		(6,180)	(2,989)
Components of non-controlling interest
Beginning balance	(10,517)		(5,797)	(2,153)		(1,521)	(5,797)	(1,521)
Ending balance	(6,180)	(10,517)		(2,989)	(2,153)		(6,180)	(2,989)
Translation adjustment
Activity in accumulated other comprehensive loss
Beginning balance	(6,551)		(1,961)	2,340		3,041	(1,961)	3,041
Changes before reclassifications	4,014			(752)			(576)	(1,453)
Amounts reclassified to net income	0			0			0	0
Tax effect	0			0			0	0
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	4,014			(752)			(576)	(1,453)
Ending balance	(2,537)	(6,551)		1,588	2,340		(2,537)	1,588
Components of non-controlling interest
Beginning balance	(6,551)		(1,961)	2,340		3,041	(1,961)	3,041
Ending balance	(2,537)	(6,551)		1,588	2,340		(2,537)	1,588
Unrealized gain (loss) on marketable securities
Activity in accumulated other comprehensive loss
Beginning balance	(501)		(298)	320		370	(298)	370
Changes before reclassifications	303			(201)			(87)	(270)
Amounts reclassified to net income	78			16			199	18
Tax effect	(94)			45			(28)	62
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	287			(140)			84	(190)
Ending balance	(214)	(501)		180	320		(214)	180
Components of non-controlling interest
Beginning balance	(501)		(298)	320		370	(298)	370
Ending balance	(214)	(501)		180	320		(214)	180
Net pension amortization and net actuarial loss
Activity in accumulated other comprehensive loss
Beginning balance	(3,465)		(3,538)	(4,813)		(4,932)	(3,538)	(4,932)
Changes before reclassifications	0			0			0	0
Amounts reclassified to net income	49			75			145	225
Tax effect	(13)			(19)			(36)	(50)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	36			56			109	175
Ending balance	(3,429)	(3,465)		(4,757)	(4,813)		(3,429)	(4,757)
Components of non-controlling interest
Beginning balance	(3,465)		(3,538)	(4,813)		(4,932)	(3,538)	(4,932)
Ending balance	(3,429)	(3,465)		(4,757)	(4,813)		(3,429)	(4,757)
Non-Controlling Interests
Activity in accumulated other comprehensive loss
Beginning balance	9,128	8,830	8,897	8,380	8,918	8,648	8,897	8,648
Ending balance	10,406	9,128	8,830	9,096	8,380	8,918	10,406	9,096
Components of non-controlling interest
Beginning balance	9,128	8,830	8,897	8,380	8,918	8,648	8,897	8,648
Net income	(149)	702	452	615	842	700	1,005	2,157
Other comprehensive loss	1,427	(404)	(519)	101	(120)	(430)	504	(449)
Dividends distributed to joint venture minority partners	0			0			0	(1,260)
Ending balance	$ 10,406	$ 9,128	$ 8,830	$ 9,096	$ 8,380	$ 8,918	$ 10,406	$ 9,096

Revenue Recognition - Disaggreg

Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 28, 2023	Jan. 22, 2022	Jan. 28, 2023	Jan. 22, 2022
Revenue Recognition
Sales	$ 572,723	$ 571,573	$ 1,788,146	$ 1,672,245
Wholesale Segment
Revenue Recognition
Sales	291,170	328,533	934,511	973,973
Operating Segments
Revenue Recognition
Sales	692,270	670,312	2,160,859	1,965,817
Operating Segments | Motion Upholstery Furniture
Revenue Recognition
Sales	377,925	352,174	1,127,983	1,026,222
Operating Segments | Stationary Upholstery Furniture
Revenue Recognition
Sales	185,481	197,125	602,449	571,357
Operating Segments | Bedroom Furniture
Revenue Recognition
Sales	15,163	11,995	49,096	45,940
Operating Segments | Dining Room Furniture
Revenue Recognition
Sales	11,251	9,427	34,985	33,673
Operating Segments | Occasional Furniture
Revenue Recognition
Sales	21,992	15,221	63,322	54,371
Operating Segments | Delivery
Revenue Recognition
Sales	58,543	53,607	189,167	153,954
Operating Segments | Other
Revenue Recognition
Sales	21,915	30,763	93,857	80,300
Operating Segments | Wholesale Segment
Revenue Recognition
Sales	407,603	423,281	1,295,652	1,255,872
Operating Segments | Wholesale Segment | Motion Upholstery Furniture
Revenue Recognition
Sales	224,726	238,119	683,809	699,433
Operating Segments | Wholesale Segment | Stationary Upholstery Furniture
Revenue Recognition
Sales	97,736	94,216	307,128	284,318
Operating Segments | Wholesale Segment | Bedroom Furniture
Revenue Recognition
Sales	9,853	6,723	30,145	30,030
Operating Segments | Wholesale Segment | Dining Room Furniture
Revenue Recognition
Sales	6,926	5,562	21,778	20,941
Operating Segments | Wholesale Segment | Occasional Furniture
Revenue Recognition
Sales	11,550	7,396	34,957	31,746
Operating Segments | Wholesale Segment | Delivery
Revenue Recognition
Sales	50,008	45,168	162,783	128,318
Operating Segments | Wholesale Segment | Other
Revenue Recognition
Sales	6,804	26,097	55,052	61,086
Operating Segments | Retail
Revenue Recognition
Sales	251,157	197,052	739,330	571,319
Operating Segments | Retail | Motion Upholstery Furniture
Revenue Recognition
Sales	153,194	113,767	444,110	326,251
Operating Segments | Retail | Stationary Upholstery Furniture
Revenue Recognition
Sales	52,497	46,938	162,452	133,449
Operating Segments | Retail | Bedroom Furniture
Revenue Recognition
Sales	2,189	1,598	6,590	5,386
Operating Segments | Retail | Dining Room Furniture
Revenue Recognition
Sales	3,300	2,802	9,343	9,462
Operating Segments | Retail | Occasional Furniture
Revenue Recognition
Sales	9,567	6,672	25,300	19,659
Operating Segments | Retail | Delivery
Revenue Recognition
Sales	6,881	6,342	20,727	20,007
Operating Segments | Retail | Other
Revenue Recognition
Sales	23,529	18,933	70,808	57,105
Corporate and Other
Revenue Recognition
Sales	33,510	49,979	125,877	138,626
Corporate and Other | Motion Upholstery Furniture
Revenue Recognition
Sales	5	288	64	538
Corporate and Other | Stationary Upholstery Furniture
Revenue Recognition
Sales	35,248	55,971	132,869	153,590
Corporate and Other | Bedroom Furniture
Revenue Recognition
Sales	3,121	3,674	12,361	10,524
Corporate and Other | Dining Room Furniture
Revenue Recognition
Sales	1,025	1,063	3,864	3,270
Corporate and Other | Occasional Furniture
Revenue Recognition
Sales	875	1,153	3,065	2,966
Corporate and Other | Delivery
Revenue Recognition
Sales	1,654	2,097	5,657	5,629
Corporate and Other | Other
Revenue Recognition
Sales	(8,418)	(14,267)	(32,003)	(37,891)
Eliminations
Revenue Recognition
Sales	$ (119,547)	$ (98,739)	$ (372,713)	$ (293,572)

Revenue Recognition - Contract

Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 28, 2023	Apr. 30, 2022
Revenue from Contract with Customer [Abstract]
Contract assets	$ 60,986	$ 139,006
Customer deposits	129,019	183,233
Deferred revenue	60,986	139,006
Total contract liabilities	190,005	$ 322,239
Revenue recognized related to contract liabilities	$ 292,700

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Jan. 28, 2023 segment brand store
Wholesale Segment
Segment Reporting Information [Line Items]
Number of operating segments	3
Number of reportable segments	1
Wholesale Segment | Casegoods
Segment Reporting Information [Line Items]
Number of brands | brand	3
Retail Segment
Segment Reporting Information [Line Items]
Number of operating segments	1
Number of stores | store	167

Segment Information - Income St

Segment Information - Income Statement Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 28, 2023	Jan. 22, 2022	Jan. 28, 2023	Jan. 22, 2022
Segment Reporting Information [Line Items]
Sales	$ 572,723	$ 571,573	$ 1,788,146	$ 1,672,245
Operating Income (Loss)	42,840	39,487	157,366	127,971
Interest expense	(136)	(160)	(414)	(713)
Interest income	2,012	806	3,624	1,029
Other income (expense), net	(1,062)	(1,460)	(834)	(522)
Income before income taxes	43,654	38,673	159,742	127,765
Wholesale Segment
Segment Reporting Information [Line Items]
Sales	291,170	328,533	934,511	973,973
Operating Segments
Segment Reporting Information [Line Items]
Sales	692,270	670,312	2,160,859	1,965,817
Operating Segments | Wholesale Segment
Segment Reporting Information [Line Items]
Sales	407,603	423,281	1,295,652	1,255,872
Operating Income (Loss)	16,940	27,639	81,558	89,098
Operating Segments | Retail Segment
Segment Reporting Information [Line Items]
Sales	251,157	197,052	739,330	571,319
Operating Income (Loss)	44,203	24,102	123,855	68,502
Corporate and Other
Segment Reporting Information [Line Items]
Sales	33,510	49,979	125,877	138,626
Operating Income (Loss)	(18,303)	(12,254)	(48,047)	(29,629)
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Sales	30,396	45,988	114,305	126,953
Intersegment sales
Segment Reporting Information [Line Items]
Sales	3,114	3,991	11,572	11,673
Intersegment sales | Wholesale Segment
Segment Reporting Information [Line Items]
Sales	116,433	94,748	361,141	281,899
Eliminations
Segment Reporting Information [Line Items]
Sales	$ (119,547)	$ (98,739)	$ (372,713)	$ (293,572)

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Jan. 28, 2023	Jan. 22, 2022	Jan. 28, 2023	Jan. 22, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	27.70%	24.80%	26.60%	25.90%
Statutory tax rate	21%

Earnings per Share - Reconcilia

Earnings per Share - Reconciliation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 28, 2023	Jan. 22, 2022	Jan. 28, 2023	Jan. 22, 2022
Numerator (basic and diluted):
Net income attributable to La-Z-Boy Incorporated	$ 31,726	$ 28,467	$ 116,291	$ 92,549
Income allocated to participating securities	0	0	0	(6)
Net income available to common Shareholders	$ 31,726	$ 28,467	$ 116,291	$ 92,543
Denominator:
Basic weighted average common shares outstanding (in shares)	43,137	43,701	43,111	44,342
Contingent common shares (in shares)	0	55	0	59
Stock option dilution (in shares)	0	212	0	239
Diluted weighted average common shares outstanding (in shares)	43,137	43,968	43,111	44,640
Earnings per Share:
Basic (in dollars per share)	$ 0.74	$ 0.65	$ 2.70	$ 2.09
Diluted (in dollars per share)	$ 0.74	$ 0.65	$ 2.70	$ 2.07

Earnings per Share - Antidiluti

Earnings per Share - Antidilutive Securities (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Jan. 28, 2023	Jan. 22, 2022	Jan. 28, 2023	Jan. 22, 2022
Outstanding options
Anti-dilutive options
Outstanding options excluded from diluted share calculation (in shares)	1.5	0.2	1.5	0.2

Fair Value Measurements - Hiera

Fair Value Measurements - Hierarchy and Transfers (Details) - USD ($) $ in Thousands	Jan. 28, 2023	Apr. 30, 2022
Assets
Total assets	$ 39,650	$ 51,537
Recurring basis
Assets
Marketable securities	30,667	42,621
Held-to-maturity investments	1,404	1,337
Cost basis investments	7,579	7,579
Total assets	39,650	51,537
Liabilities
Contingent consideration liability		800
Recurring basis | Level 1
Assets
Marketable securities	0	0
Held-to-maturity investments	1,404	1,337
Cost basis investments	0	0
Total assets	1,404	1,337
Liabilities
Contingent consideration liability		0
Recurring basis | Level 2
Assets
Marketable securities	21,044	33,578
Held-to-maturity investments	0	0
Cost basis investments	0	0
Total assets	21,044	33,578
Liabilities
Contingent consideration liability		0
Recurring basis | Level 3
Assets
Marketable securities	2,737	2,500
Held-to-maturity investments	0	0
Cost basis investments	7,579	7,579
Total assets	10,316	10,079
Liabilities
Contingent consideration liability		800
Recurring basis | NAV
Assets
Marketable securities	6,886	6,543
Held-to-maturity investments	0	0
Cost basis investments	0	0
Total assets	$ 6,886	6,543
Liabilities
Contingent consideration liability		$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 28, 2023 USD ($) company	Oct. 29, 2022 USD ($)	Jan. 28, 2023 company	Apr. 30, 2022 company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of privately-held companies | company	2		2
Discount rate for fiscal 2023 milestone contingent consideration			6.80%
Contingent consideration liability | $		$ 0.8
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Additional investments of level 3 assets in the privately held company | $	$ 0.2
Variable Interest Entity, Not Primary Beneficiary
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of privately-held companies | company	2		2	2