Wednesday, June 07, 2006

La-Z-Boy loses $3 million during fiscal year

La-Z-Boy, which has a plant in Neosho, posted a $3 million loss during the last fiscal year, but CEO Kurt Darrow says, don't worry, be happy.
In a company news release, "The changes made to the underlying cost structure of our business are coming to fruition."
Those changes were outlined during a January interview with the Toledo Blade, and included cost cutting and importing most of the company's wood furniture.
The news for the company was even worse during the fourth quarter, when it lost $10.2 million or 20 cents a share.

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