La-Z-Boy Announces Divisional Reporting Change
MONROE, Mich., June 29 /PRNewswire/ -- La-Z-Boy Incorporated (NYSE: LZB) announced today that its HickoryMark upholstery division will now be reporting to the executive committee of La-Z-Boy's England, Inc. upholstery division, in order to strengthen HickoryMark's logistical operations and customer support functions.
Jerry Kiser, La-Z-Boy Incorporated's president and chief operating officer, noted that the HickoryMark upholstery business has been on a very positive growth track for the past year and said, "We have known for some time that logistics would have to be addressed in order to support continued volume gains and customer service improvements at HickoryMark. England, Inc. has earned an exceptional reputation as an industry leader in both upholstery manufacturing and logistics, and we feel the synergy between these two organizations will prove highly beneficial to both the HickoryMark dealer base and our consumers moving forward."
Rodney England, president of England, Inc., added, "This move will combine England's operational expertise with the fashion and styling flair that has led to substantial recent sales increases for the HickoryMark product line. HickoryMark consumers and dealers alike will benefit from the highly desirable combination of premium service and outstanding product." England said no changes are anticipated in the current HickoryMark management group and concluded, "We anticipate continuing growth and success for this product line and are confident HickoryMark's sales and profitability will be significantly enhanced."
La-Z-Boy Background information:
With annual sales in excess of $2 billion, La-Z-Boy Incorporated is the largest U.S. residential furniture producer, employing approximately 20,000 people company wide and operating 54 manufacturing facilities in ten states and four foreign countries. The La-Z-Boy Incorporated family of brands -- Alexvale, American Drew, Bauhaus, Centurion, Clayton Marcus, England, Hammary, HickoryMark, Kincaid, La-Z-Boy, La-Z-Boy Contract Furniture Group, Lea, Pennsylvania House, Pilliod and Sam Moore -- includes furniture for every room of the home and office. Under the American of Martinsville brand name, La-Z- Boy is also a leading manufacturer of contract furniture for the hospitality and assisted-living markets. La-Z-Boy's stock is traded on the New York and Pacific stock exchanges under the trading symbol: LZB. Additional information on the company is available at www.la-z-boy.com
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SOURCE La-Z-Boy Incorporated
CONTACT: Mark Stegeman of La-Z-Boy Incorporated, 734-241-4418, firstname.lastname@example.org /