Thank and morning. you, good Kathy,
bottom results. a turning our released Retail, two quarter consolidated top Upholstery largest we We our sales solid $XXX with segments, market, of in results. second close yesterday’s and basis, million delivered Following in on line and
X%, X.X% each sales the today’s on of entire strength in relevance prior years. of the the second company-owned increased sales quarter of and reflecting delivered increased same-store across environment. Furniture quarter in brand La-Z-Boy top our segment And home Galleries La-Z-Boy the challenging three Retail increases furnishings for the Written for network
system Galleries La-Z-Boy by margin the a delivered in for same-store the for profitability X.X%, are segment. increased our sales second sales for segment on Fiscal led company-owned operating Furniture sales written increased up are Consolidated consolidated basis, Retail double-digit both X.X% non-GAAP quarter year-to-date, the and X.X%. Upholstery and GAAP up
million $XX during to operating generated its the the confidence our in as from shareholders deliver to growth our $XX demonstrating and in quarter, and million various we to returns continue quarterly marketplace and strategy share to dividend purchases. yesterday, long-term returned further cash dividends our shareholders, strong activities in solidify increase our Board to voted Directors and we Also, and the And again of prospects, shareholders. position
a into Macroeconomic getting in Before discussion low consumer segment, for about the of are our means what generally environment. well a both all-time near of which remaining confidence I want highs, interest to talk the bode take indicators and positive brand operating business. consumer, for with each furnishings to rates moment this home
competitive and same tariffs Chinese and just a advantage in however, our centric business, supply tariff branded due industry. the But furnishing’s manufacturing. the continue XX% North goods the La-Z-Boy At to the giving X%, impact global time, home marketplace on flexible American to the translates for to associated chain us rhetoric
to La-Z-Boy With for that environment, long-term. a overall with this continuing end, how our in resonates it’s outperforming testament our in the the Galleries brand believe coupled of investments to equity other make tariff marketplace, Furniture we La-Z-Boy strong we strength brand To are network the the it the channels in and positioning.
creating and as range showcased which of between we of focused first ambassador, Kristen tracking our furniture the included also strong to phase which Kristen We our Bell the connection launch, of relaunch introduction Live a offer. campaign, expectations. La-Z-Boy Life the The of recently on brand is Comfortably completed and our
we are likelihood a to rate, is advertising being and broader there our a of consumers, spectrum Research shows, appealing by La-Z-Boy. overall, higher a to higher consider recognized at is consumers
campaign and for or of now meet phase the to that will second any free run design services ability We the taste. into will perfectly next moving style are the showcase year our and
to turn let’s our Now operating segments.
sales In business. wholesale the our operating Upholstery XX% segment XX.X%, was operating million, First, on GAAP $XXX X.X% XX.X%. and of increase a non-GAAP increased to margin margin from to up
for and excludes Non-GAAP margin optimization some primarily announced initiative chain redundant charges non-recurring our August. in supply
and part Siloam closed California plant facilities. production our Neosho, our of we Redlands, and that Springs, plan, As shifted to Arkansas Missouri
transitioning large moves further positioning were these will strengthen to to marketplace cut-and-sew Mississippi time. our leather optimize competitive operations facility also us operations from and the our over allow Mexico center our believe our We cut-and-sew and Newton, in in
have While of we $X short-term pre-tax million in annual anticipate costs these savings with fiscal million $X them, XXXX. ongoing moves to some beginning associated
in Double-digit including lower ability operating train Upholstery inefficiencies, was segment driven in offset our increased material from costs, optimization production manufacture move primarily raw both California. nature we from our Springs and they of other production Neosho production excluded hires staffing the of part margin costs, by numbers. Redlands, to ramp ongoing and up costs supply new staffing to Siloam the the non-GAAP the chain and not these all costs, and Through are as
On take continue continued power our will option. enjoying its we unique continues are escalate. given rate, grow product we orders features. the XX% to And which merchandising a expect The remote we our attachment see recliner success rate currently, with wireless side, to to
The a wand memory and which is positions, love. cradle, find various consumers sleek self-storing me and magnetic lockout stylish features and with
provide dollars sectional groups, seeing for High the also foot for our retailer. significant new business. offerings month’s square we in are Furniture At We Point last Market, increase per super our two maximum expanded a which with
dealer with SKUs multiple in sell example, floor a multiple one it ways. can and configurations, vignette, an As yet
sleeper. as sectional example, or a For sofa,
addressing are offerings, product we these With consumer wants while also preferences, addressing and retailer needs.
team. comfort Furniture to La-Z-Boy ranking callout second In quick placed or service best Newsweek’s in Retail a And companies service in XXXX of customer our customer care America, the category.
be brand included only on row. in the first list La-Z-Boy furniture last to is year, winner’s years two With place the a
our dedication and care vast consistent as of well comfort been of who a customer array their proud for the have team, partnership great and as focus of take on customer recognized dealers, service. with care We are our
Turning X.X% declined Sales X.X% margin and into our was . operating segment. Casegoods
majority were from this and of the sourced tables China, by including shifting we Although by and for for bedroom volume to and locales. impacted working segment our Vietnam, that operating our our margin room mitigate sourcing dining all occasional higher of Casegoods comes of sales issue tariff certain costs from are
margin. delay that freight of supplier our costs experienced Increased Additionally, suppliers. ocean some during goods most to operating also affected and we the and one business reliable have period, from on one shifted better our
segment. me. Excuse Now moving Retail on to our
results, delivered segment excellent traffic trends consecutive to to and six Sales sales continues X%, driven the the by a segment growth compounded million deliver and rate. level. at the improved strong increase, continued reflecting $XXX increased same-store X.X% Retail for annual increased execution Our store X.X%
margin basis, improved and from second non-GAAP X.X% includes from for store both quarter. network, same-store to the operating increased operating margin Furniture in On X.X% X.X% La-Z-Boy dealer-owned the last stores, year’s written second the company-owned increased X.X% which and in stores sales to GAAP a X.X% quarter. Across border Galleries XXX
to doors deliver U.S. continue quarter-after-quarter. results strong The
declined the in written two prior results slightly after network however, sales years. – quarter same-store written QX. same-store year-to-date, a fiscal impacted in Canada second improvement were full and are positive where However, sales by Canada, written versus Fiscal showing negatively rebound marked
previously, system Galleries times a have with in a said Furniture demonstrating paramount remains investing consumer shop our we many the store preference in-store. As La-Z-Boy to importance, core
Additionally, opportunity shopping an and the experience. stores best provide excellent product the provide line, our entire showcase to comprehensive service
projects, was with new opened one For end store across the we for and Projected net activity year and about the stores, new. the XX network, includes XXX quarter, to were remodeled. including the four plan two full-year
of Joybird, let minutes top Now continues La-Z-Boy, acquired line to August. new exhibit and consumer a it business through targets new me fiscal Joybird we a e-commerce distribution. last spend growth on a for few the channel fast-paced
in second larger to as For certain during the sales, the acquisitions in $XX in to sales million supply improved its QX synergies and loss quarter sustainable chain XX.X% sequentially the quarter. Joybird continue versus by versus a we operating translated to with quarter, year prior loss invest This The last business realizing up gross year. reduce the operating growth. margin year’s prior delivered over drive customer
and reinvesting for optimistic right business continue are balance the the and potential We striking to in the between on profits we’ll focus Joybird long-term to about drive growth.
fourth expect the to profit in accounting quarter fiscal We the year, adjustments. – excluding purchase of positive Joybird be
most I our will now to turn the call over recent financials. to Melinda review
