MONROE — La-Z-Boy Inc. saw its sales dip by 13 percent for the fiscal year ending April 27, while sales for the fourth fiscal quarter ending on the same date were 1 percent lower than they were in the same quarter last year.

The company, which reported figures after the market closed Monday, attributed the decline in sales to the fact that figures for the fiscal fourth quarter ending on April 29 of last year included revenue earned through “delivery of a significant backlog” of pandemic-era orders.

For the fourth fiscal quarter that ended April 27, the company reported sales of $554 million, Sales for the fiscal year declined to $2.04 billion.

La-Z-Boy president and CEO Melinda D. Whittington said the company was pleased with the strong fourth-quarter results, and that low housing turnover continues to negatively impact store traffic. 

“However, our execution is the strongest it has ever been, including conversion rates at all-time highs and average ticket and design sales trending up for the year,” she said. 

First Published June 18, 2024, 12:54 p.m.