La-Z-Boy Incorporated Releases FY2024 Impact Report Highlighting Sustainability and Community Action Investing.com

MONROE, Mich., Jan. 10, 2025 (GLOBE NEWSWIRE) — La-Z-Boy Incorporated (NYSE: NYSE: ), a global leader in home furnishings manufacturing and retailing, announced its fiscal 2024 performance report: Preservation of our heritage, transformation for tomorrow. Through this report, La-Z-Boy Incorporated details how sustainability is embedded in its corporate strategy and operations as a core business principle, supported by a human-centered approach and intentional supply chain management practices to make a positive impact on people, communities, and the planet.

Our 2024 Impact Report is more than a reflection of our progress—it’s a testament to what we can achieve if we stay true to our values, said Melinda Whittington, La-Z-Boy Incorporated Chairman of the Board, President and Chief Executive Officer. Together, we share an ongoing commitment to transforming our world through comfort, and that purpose is reflected in everything we do. From our focus on consumers to our human-centered approach to developing our employees, to the care we give to our manufacturing processes and our communities, we are intentional about our impact and what it means for the future.

Key highlights for the FY 2024 report include:

• We received SBTi confirmation of our short-term goals, which include a 64 percent reduction in Scope 1 emissions, a 62 percent reduction in Scope 2 emissions, and a 51 percent reduction in Scope 3 emissions by fiscal year 2032, advancing the company toward its 2050 net- zero goal.

• A recycling rate of 96 percent was achieved for all non-hazardous waste and a 20 percent reduction in hazardous waste production compared to the previous year.

• The renewable energy portfolio covered 75 percent of US and 64 percent of global electricity consumption.

• Company-wide adoption of the TranZform initiative at all La-Z-Boy Incorporated manufacturing facilities, highlighting six key initiatives designed to drive sustainability and empower employees, such as a problem-solving culture and waste walks.

• The La-Z-Boy Foundation has donated over $1.4 million, and as the official furniture partner of Ronald McDonald House Charities ® , La-Z-Boy Incorporated has donated over 16,000 pieces worldwide.

• Preserved, restored and redeveloped the 120-acre parcel surrounding the company’s world headquarters in Monroe, Michigan, contributing to the health and enjoyment of employees and wildlife in the area. In addition, the planting of the community garden resulted in 283 pounds of produce harvested as part of the biodiversity investment.

The report is based on Century Vision, the company’s long-term business strategy that aims to increase brand reach, strengthen business capabilities and drive profitable, sustainable growth ahead of its 100th anniversary in 2027. Through this strategy, La-Z-Boy Incorporated is focused on creating a more agile, efficient, people-centric business to ensure that the company not only adapts to an evolving market, but also leads the way in delivering significant, lasting impact for its shareholders, customers, employees and communities.

Our 2024 Impact Report highlights the measurable progress we’ve made in key areas – reducing emissions, increasing resource efficiency and strengthening our supply chain, said Tim McCurry, vice president of environmental health and safety, facilities and sustainability at La-Z- Boy Incorporated. We are aware of how our manufacturing operations, product sourcing and other business practices impact our environment and our industry, and every step we take brings us closer to a more sustainable future.

Explore the highlights, visuals and inspiring stories that show how La-Z-Boy Incorporated is transforming for tomorrow. Read the full report at https://www.la-z-boy.com/News/Sustainability/2024/.

Media contacts:

Cara Klaer, Corporate Communications: (734) 598-0652; Cara.Klaer@la-z-boy.com

Mark Becks, Investor Relations: (734) 457-9538; Mark.Becks@la-z-boy.com

About La-Z-Boy Incorporated

La-Z-Boy Incorporated brings the transformative power of comfort to people, homes and communities around the world – a mission that began when its founders invented the iconic recliner in 1927. Today, the company operates as a vertically integrated furniture retailer and manufacturer, committed to uncompromising quality and compassion for its consumers. .

The retail segment consists of 193 company-owned La-Z-Boy Furniture Galleries® stores and is part of a broader network of over 350 La-Z-Boy Furniture Galleries® that, with La-Z-Boy.com, serve customers nationwide. Joybird ® , an e-retailer and manufacturer of modern upholstered furniture, has 12 stores in the US. In the wholesale segment, La-Z-Boy produces custom-made comfortable furniture for its Furniture Galleries ® and various retail channels, England Furniture Co. offers custom upholstered furniture, and Kincaid ® , American Drew ® and Hammary ® brands offer pieces that make any room feel like home. To learn more, visit: https://www.la-z-boy.com.

Source: La-Z-Boy Incorporated