Kathy. everyone. Thank you, Good morning,
generated La-Z-Boy both through high-level. the legal third segments related minutes, Sales $XX to in the tax results. little more continue three business at company to strategy the more as consumer customer as speak with our bit million few which our win consecutive our our same-store units, fourth well and to certainly to a invest vibrant our make strategy issues also positions complex we more our growth of documentation the bringing It for certain settlement different is to reform, posted This was capital well products platform, duo business to furniture about our network and X.X%, business the usual, to investments from of will quickly, than two to Gallery we continue to quarter as results us younger in to our e-commerce cash characteristics. U.S. operated expand quarter. manufacturing our paramount store shopping allows innovative power and share strengthen Furniture through to while market. increased in and announced third went impacted operations. footprint its a as related capture fiscal a who to solid in custom previously The exhibits ability us necessary retail we Our quarterly Those which a core aside, Mike increase reported XXXX our provide all sales which extensive expand
the quarter. Additionally, dividends shareholders million buying during repurchases, X.X through returned share we back to shares million and $XX
segments quarter. take review a the let operating me Now our you three through of for
our First, Upholstery segment.
margin third certain For power in to quarter. in by the X% XX.X% reduced X.X% declined X.X% in million, from this sales margin segment for $XXX segment and last segment in the regarding settlement Upholstery the year’s the legal increased quarter, to operating year’s a The the units quarter. operating charge
and of also steel, material by foam three segment operating margin wood. core components principally anticipate we effect. a raw our Our two-thirds a fourth of margin these significant absorbed quarter. the increase in January, costs, not on for in price increase do with quarter for price delivered beginning was inflated implemented We this on our that sales we impacted effective was a for But which higher drag meant costs
products after point, million $XX indeed and At retail our to annualize North is the million at – exceed be to floors the in to America collection about it’s it expectation On appears track exceeding months. well few wholesale duo canvassing this short on very phasing for is side, sales. just a $XX
continues still it’s to consumers the the the how no tell much popular. incremental product. our is the While of stores to early iClean, coming to duo is evidence for motion sales, that fabric into specifically sales our existing stain-resistant looking too new volume there also be are
leveraging we Attitudes introducing Market. In Urban Collection High the are leveraging markets world, – at Furniture that around addition we the product April in that on featuring it updated Point to are the different it
we our for R&D sales remain where our with Our With move that campus we cadence world-class marry industry, new the our this quarter X.X% in across Tennessee to innovative are by progressive steady for manufacturer as encouraged the X.X%. quarterly Gallery and increased La-Z-Boy is supply our on momentum, for Again, the for be schedule quarter. the this state-of-the-art market, innovation ability and Dayton, to into the objective of network to will increase to is particularly area. of our as sales this same-store integral Written and a exciting products most strengthen center spring. is this Total bringing our legacy consecutive at increased the provide innovation, we written the network steep chain. the completion Furniture we talent and in spring our heritage, the fourth
and design were XXX stores two two stores were quarter, the opened, Furniture were of with period the Gallery La-Z-Boy were We XXX two the ended stores, which remodeled, new closed. concept. During in
stores. for there network, two fiscal XXXX the and will end two and to new across expect two which with store XXX include three stores, quarter, net fourth are we closures, openings, relocations, plans the For
out we For plan the dedicated new format of design. one-third the stores projects with to full-year, some old execute concept to changing activity XX closing or the for
a groups dual of provide strategy has distinctive consumers. you La-Z-Boy new a to to our brief let reach e-commerce For may be our two of story, strategy. those overview who me of
Furniture prefer to to La-Z-Boy shop at retailer can in prefers customer or And of carrying furniture. sales another customer to seems the core younger Gallery we either group the simultaneously. La-Z-Boy to shop online store a grow for second, who We consumer our believe these both brand. store first The who
Our access strategy for addresses younger and buying while both three-pronged of consumers. market, the wealth La-Z-Boy brand a opportunities providing information, the e-commerce all to
sales the Our furnitures sales to as and first couple such increase objective been on we a have selling for is to their increase la-z-boy.com of platform. online other years in La-Z-Boy companies, enjoy steady of digital Wayfair, and where
their stores We spring. have test this with Amazon also expect completed on selling to site be and
leverage other almost e-commerce already chain support brands, And as of objective second invest strength is today, we the companies. are the in which supply The online to world-class million is two new we doing. to invested $X our And third have of companies. global to in
and We in provide growing to marketplace this to dynamic you of our and committed the will updates our on to how continue we’re brand supply business initiatives strength as these evolving, leveraging are chain.
invest take last Tennessee, our in in provide in England of ceremony Before million update case the campus, two formally branches these investment Tazewell, announced state week Tennessee groundbreaking new with upholstery two subsidiary. held a about moment to goods, turning would Yesterday, our to $XX the me we home to a celebrate that projects. conjunction an we let stating to we our
new additional building XXXX, for the square to or to replace feet, The January of office second past the office immediately XXXX. is increased the demand. first of contributing building Construction construct fire And capacity in at ready the towards spring a be to the is by to and said some money Tennessee XX%, with to begin our for is was due completely by the the that expectations The projects. State corporate one is expand be the XX,XXX plant two of manufacturing operations destroyed to to this in facility May.
England building. with will continue As and England expand headquarters a Tazewell we over their the existing business. world the an lead-certified to center us and sales increases to capacity facility performer profitability. under excellent allow corporate our the innovation demand to in has years that new consistent been intend construct at Increasing our with is and answer construction, office
our consumers increased and goods. operating XXXX for quarter from the segment its dealers, discuss expand XX% today’s Sales in continued is for goods I excellent proven let’s group in case way larger XX.X% $XX.X to business were case has in success. believe period riding its team is of the an features job business to stock increase being been goods well-priced allowed Now collections on-trend shape entire done comparable in it in from appeal times of quick retailers. with for margin and namely The that poised product with fiscal last quarter, shift track to the coupled in business the the providing ship, and third excellent has live. XXXX. this X.X% of million, The an case third best the segment in This record a has service portfolio fiscal to year’s years. the providing they The
Now on to quarter to margin from X.X% X.X% XXXX year million. the to period. X% increased the Sales fiscal in increased retail. moving third for The operating $XXX.X prior
was company-owned related in base of a stores, the decrease in respect for to Northeast, the increased due traffic, and to higher average included number improvement the we With the to ticket, prior a orders, the sales by to the we compared negative somewhat the services, mainly stores core and in weather markets, particularly the On patterns, traffic our sales a in year, by conversion. year’s which non-related trend delivered markets. slight analyzed quarter, XXX the core in sales decline and declined Midwest design in when observe versus custom last of X.X% weather did offset driven an stores
store to company-owned the to more in to the the Grand for stores much count La-Z-Boy store will the Michael? quarter, Michigan, quarter Gallery in and opened over Mike Rapids, review XXX new our of bringing in one detail. Mechanicsburg, the in I network. numbers the acquired now the company call Pennsylvania turn XXX During store Furniture
