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Earnings

La-Z-Boy to resume manufacturing operations next week

FILE PHOTO The La-Z-Boy store in Westminster, Colorado is seen November 18, 2014. La-Z-Boy is set to announce its Q215 earnings results November 18, 2014. REUTERS/Rick Wilking (UNITED STATES - Tags: BUSINESS)

(Reuters) - Furniture retailer La-Z-Boy Inc LZB.N said on Wednesday it would partially resume production at several U.S.-based plants next week after temporarily shutting them down in response to the COVID-19 pandemic.

In March, Monroe, Michigan-based La-Z-Boy also temporarily closed its stores and furloughed 6,800 employees or 70% of its workforce.

The company, which last week opened several retail locations across the United States on a reduced schedule, said on Wednesday it expects to open more stores in the coming weeks.

The La-Z-Boy stock, which closed at $19.73 on Wednesday, has fallen 37.3% this year.

Reporting By Mrinalika Roy in Bengaluru; Editing by Maju Samuel

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