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La-Z-Boy Shares Fall After-Hours on Earnings Outlook

Adam Smith

The drop followed the Michigan-based furniture company's forecast of full-year adjusted earnings per share of $2.13 to $2.15 on sales of $1.75 billion, missing analysts' expectations. The adjusted earnings exclude purchase accounting charges of around 12 cents a share and a non-cash pension termination charge of approximately 58 cents. "Fiscal 2019 was a strong year for La-Z-Boy, said Kurt L. Darrow, chief executive of La-Z-Boy, in a statement.