La-Z-Boy Incorporated Releases First ESG Report

MONROE, Mich., July 20. 28, 2022 (GLOBE NEWSWIRE) — La-Z-Boy Incorporated (NYSE: LZB), a global leader in home furnishings, today released its first environmental, social and governance (ESG) report. The report explains how La-Z-Boy Incorporated’s ongoing investments in sustainable products, a healthy planet and a values-based culture drive results for customers, consumers, employees, shareholders and the world at large.

Melinda Whittington, President and CEO of La-Z Boy Incorporated, said, “For nearly 100 years, La-Z-Boy Incorporated has provided quality and comfort to families around the world. As we build the La-Z-Boy of tomorrow, our goal is to make the world a better place through the transformative power of comfort. This means we embrace curiosity for sustainable design, operate with compassion for a sustainable planet, and instill courage for a sustainable culture, leveraging our core values.

Provide lasting comfort is the philosophy embedded in La-Z-Boy Incorporated’s ESG initiatives. In 2021, La-Z-Boy Incorporated made notable progress on three key pillars: Sustainable Design, Sustainable Planet and Sustainable Culture. Highlights include:

Sustainable design

  • Received a high score on the Wood Furniture Scorecard, an initiative of the National Wildlife Federation and the Sustainable Furnishings Council to show the progress of furniture company sustainability initiatives.
  • Implemented the Supplier Inclusion Program, which aims to ensure that inclusion is part of every product manufactured by La-Z-Boy Incorporated.

Sustainable planet

  • Joined the Science Based Targets (SBTi) initiative to achieve net zero emissions by 2050.
  • Executed a virtual power purchase agreement to help La-Z-Boy Incorporated reduce the carbon footprint of over 90% of its current total annual energy consumption in the United States.

Sustainable cultivation

  • Signature of the CEO Action for Diversity and Inclusion Pledge which outlines specific actions to cultivate a diverse, inclusive and trusting environment.
  • Granting more than $2.7 million to nonprofit organizations through cash and in-kind donations from La-Z-Boy Incorporated and the La-Z-Boy Foundation.

To learn more about how La-Z-Boy Incorporated provides lasting comfort, read the full ESG report at https://www.la-z-boy.com/content/AboutLaZBoy.

Further information

This press release is only part of La-Z-Boy’s financial information and should be read in conjunction with other information filed with the SEC, available at: https://lazboy.gcs-web.com/financial-information/sec-filings. Investors and others interested in being notified of future La-Z-Boy press releases, SEC filings, and quarterly investor conference calls can register at: https://lazboy.gcs-web.com/.

Background information

La-Z-Boy Incorporated is one of the world’s leading producers of residential furniture, marketing furniture for every room in the house. Wholesale segment includes England, La-Z-Boy, American Drew®Hammar®Kincaid® and the company’s international wholesale and manufacturing operations. Company-owned retail segment includes 161 of 348 La-Z-Boy Furniture Galleries® stores. Joybird is an e-commerce retailer and manufacturer of upholstered furniture.

The Company’s branded distribution network is dedicated to selling La-Z-Boy Incorporated products and brands, and includes 348 stand-alone La-Z-Boy Furniture Galleries.® stores and 531 independent comfort studios® locations, in addition to in-store gallery programs for the company’s Kincaid and England operating units. Additional information is available at http://www.la-z-boy.com/.

Comments are closed.