La-Z-Boy Stock Rallies On Company's Q4 Earnings, Sales Beat

Shares of La-Z-Boy Inc. rose more than 7% late Tuesday after the furniture maker reported fiscal fourth-quarter earnings and sales above Wall Street expectations. La-Z-Boy said it earned $28 million, or 57 cents a share, in the quarter, compared with $23 million, or 45 cents a share, in the year-ago period. Sales fell 1% to $412.7 million, compared with $417.1 million a year ago. Analysts polled by FactSet had expected earnings of 46 cents a share on sales of $401 million. La-Z-Boy shares ended the regular session down 3.9%.