La-Z-Boy said first-quarter fiscal 2027 sales fell 3% year over year to $476 million for the period ended July 25, 2026, or down 1% excluding the May divestiture of its wholesale casegoods business. The company-owned retail segment was the standout, with written sales up 16%, written same-store sales up 3%, delivered sales up 10% to $229 million, and adjusted operating margin improving to 6.5%. Consolidated results were weighed down by weaker wholesale delivered sales and softer Joybird performance, producing GAAP diluted EPS of $(0.06) and adjusted diluted EPS of $0.43. La-Z-Boy also said it added four company-owned stores, signed an agreement to acquire two more independent La-Z-Boy stores, concluded production at one of two planned plant closures, and returned about $35 million to shareholders through buybacks and dividends. For the fiscal second quarter, the company expects sales of $500 million to $520 million and adjusted operating margin of 4.0% to 5.5%, while management said retail written sales remain strong and wholesale backlog is solid despite a cautious macro view.