La-Z-Boy Incorporated. (NYSE:LZB) Q3 2023 Earnings Conference Call February 22, 2023 8:30 AM ET

Company Participants

Kathy Liebmann - Director, IR & Corporate Communications

Melinda Whittington - President & CEO

Bob Lucian - SVP & CFO

Conference Call Participants

Bobby Griffin - Raymond James

Anthony Lebiedzinski - Sidoti and Company

Bradley Thomas - KeyBanc

Operator

Greetings! And welcome to the La-Z-Boy Fiscal 2023 Third Quarter Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note that this conference is being recorded.

I will not turn the conference over to your host, Director of Investor Relations Kathy Liebmann. You may begin.

Kathy Liebmann

Thank you, Kelly. And good morning everyone and thank you for joining us to discuss our fiscal 2023 third quarter results. With us this morning are Melinda Whittington, La-Z-Boy’s President and Chief Executive Officer; and Bob Lucian, Chief Financial Officer. Melinda will open and close the call, and Bob will speak to segment performance and the financials midway through. We’ll then open the call to questions. Slides will accompany this presentation and you may view them through our webcast link, which will be available for one year, and a telephone replay of the call will be available for one week beginning this afternoon.

Before we begin the presentation, I’d like to remind you that some statements made in today’s call include forward-looking statements about La-Z-Boy’s future performance and other matters. Although, we believe these statements to be reasonable, our actual results could differ materially. The most significant risk factors that could affect our future results are described in our annual report on Form 10-K.

We encourage you to review those risk factors as well as other key information detailed in our SEC filings. Also, our earnings release is available under the News and Events tab on the Investor Relations page of our website, and it includes reconciliations of certain non-GAAP measures which are also included as an appendix at the end of our conference call slide deck.

With that, I will now turn over the call to Melinda Whittington, La-Z-Boy’s President and Chief Executive Officer. Melinda?

Melinda Whittington

Thank you Kathy and good morning everyone. Yesterday afternoon, following the close of market we reported fiscal 2023 third quarter results. Highlights for the period included excellent sales, earnings and cash performance for the enterprise in total, with record non-GAAP operating profit and margin delivery for our company-owned retail segment and positive written same-store sales for the retail segment. Our company owned La-Z-Boy Furniture Gallery stores. All-in a great quarter.