How long will this company survive? The street really doesn't seem to care about it one way or the other. There is nothing positive happening internally at the company and nothing positive seems to be on the horizon. No one in senior management seems to know what to do. "Northstar" is a black hole. It has no meaning. It is hard for employees to come to work everyday without a purpose. Some say this is a good long-term investment, but we have to get through the short-term first. Somebody please tell me something good about LZB's prospects.
I have no dog in this hunt. we drive by a LZB store in Lafayette, in. monthly. Nice new building 3yrs. old. still the parking lot is mostly empty. Why they ever took on the cost of stores, and cost, the closest i ever have come to owning a retail was FXMI (i think was the ticker and they sold foam to folks, car seats furniture, ect) i think they are BK now. and what is the future for LZB? dont know, dont care. my 2 cents
This company can survive. It will certainly become much smaller than it is now, but it will remain.
However, it's critical to first understand that to survive in this shrunken state, the current CEO needs to leave. His lack of vision and inability to grasp the current challenges are slowing the company's chance of that survival. He is looking for a northstar to guide him because he lacks the internal compass and common sense that most successful leaders need to be successful. He is spending enormous amounts of money on outside consultants to advise him on where his northstar is. This does not bode well for his leadership. What he should do is press the On-star button!!!
My recommendation is that LZB is a strong buy the day they announce his departure and only then. For the sake of investors and LZB employees, I hope that day comes soon!