* Does not see Mexico ops significantly hurting H2
* Q1 same-store sales slip 3.9 pct
* Shares down 7 pct after market
Aug 17 Furniture maker and retailer La-Z-Boy
Inc (LZB.N) posted a quarterly loss and said its storm-hit
Mexico operations had not yet normalized.
Shares of the Monroe, Michigan-based company were down 7
percent at $7.03 in after-market trade.
Earlier this month, the company, known for its popular
recliners, had forecast a dismal first quarter, saying it was
hurt by higher input costs, supply chain disruptions and
production delays, on account of the flooding caused at its
Mexico facility by Hurricane Alex. [ID:nSGE6740MO]
La-Z-Boy said on Tuesday that it does not expect these
factors to hurt results during the remainder of the year as
much as they did in the first quarter.
For the first quarter ended July 24, the company posted a loss
of $0.2 million, or breakeven on a per share basis, compared
with earnings of $2.0 million, or 4 cents a share, a year
Net sales were up slightly at $263.3 million.
Analysts were expecting the company to break even, and
report net sales of $263.8 million, according to Thomson
Reuters I/B/E/S. [ID:nASA00O33]
The stock, which is up 17 percent from a 52-week low of
$6.44 in July, closed at $7.52 Tuesday on the New York Stock
(Reporting by Shradhha Sharma in Bangalore; Editing by Anne