La-Z-Boy Incorporated (NYSE:LZB) Q2 2024 Results Conference Call November 30, 2023 8:30 AM ET

Company Participants

Mark Becks - Director, IR & Corporate Development

Melinda Whittington - President, CEO

Bob Lucian - SVP, CFO

Conference Call Participants

Brad Thomas - KeyBanc Capital Markets

Anthony Lebiedzinski - Sidoti & Company

Bobby Griffin - Raymond James

Operator

Greetings, and Welcome to the La-Z-Boy Fiscal 2024 Second Quarter Conference Call. At this time, all participants have been placed in a listen-only mode. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to your host, Mr. Mark Becks, Director of Investor Relations and Corporate Development. You may begin.

Mark Becks

Thank you, Genie. Good morning, everyone, and thanks for joining us to discuss our fiscal 2024 second quarter. With us today are Melinda Whittington, La-Z-Boy's President and Chief Executive Officer; and Bob Lucian, La-Z-Boy's SVP and CFO. Melinda will open and close the call and Bob will speak to segment performance and the financials midway through. We will 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 would 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 the call over to Melinda Whittington, La-Z-Boy's President and Chief Executive Officer. Melinda?

Melinda Whittington

Thanks, Mark, and good morning, everyone. Yesterday, following the close of market, we reported results for our October ended second quarter. We delivered sales in line with the high-end of our guidance and non-GAAP operating margins exceeded guidance ranges issued last quarter, despite an increasingly challenging macro environment and continued soft home furnishings industry. These results were achieved via strong execution in both our retail stores and across our manufacturing supply chain, which has led to continued market share gains.