La-Z-Boy Inc.’s stock LZB climbed 4% in extended trading Tuesday after the retailer reported quarterly results that easily topped analyst earnings estimates. La-Z-Boy reported fiscal third-quarter earnings of $31.7 million, or 74 cents a share, compared with net earnings of $28.5 million, or 65 cents a share, in the year-ago quarter. Adjusted earnings were 91 cents a share. Revenue was flat at $572.7 million, compared with $571.6 million a year ago. Analysts surveyed by FactSet had expected on average net earnings of 65 cents a share on revenue of $529.6 million. Shares of La-Z-Boy have improved 20% so far this year, while the broader S&P 500 index SPX has increased 4%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.