La-Z-Boy Provides Update on Operations

La-Z-Boy Incorporated (the “Company”), a global leader in residential furniture, provided an update to its COVID-19 action plan. With a continued focus on the health, safety and well-being of its employees and their families, its customers and the communities in which it operates, the company will continue to:

– Evaluate plans and timing to re-open the 155 company-owned La-Z-Boy Furniture Galleries® stores on a case by case basis, subject to applicable federal, state and local requirements and guidelines, including social distancing; as a result, the company expects the cadence of store openings to vary

– Evaluate plans and timing to re-start production at its U.S.- and Mexico-based manufacturing facilities, in line with applicable federal, state and local requirements and guidelines, as well as customer demand, with no firm date established; the company is monitoring health, safety and market conditions continually and plans to open as conditions dictate

– Operate its Regional Distribution Centers, adhering to safety guidelines, to deliver in-process orders

Kurt L. Darrow, Chairman, President and Chief Executive Officer of La-Z-Boy Incorporated, said: “Across all our company locations, including plants, La-Z-Boy Furniture Galleries® stores, and Regional Distribution Centers, with the safety and health of our employees and customers being at the forefront of our decisions, we have been monitoring the COVID-19 situation and are adhering to applicable regulations and guidelines set forth by relevant governing authorities. It is our intent to re-open stores and re-start plants as soon as practical so that we can start to bring some of our furloughed employees back to work and continue to provide great service to our customers. The timing of this will be largely dependent on when we are allowed to re-open under the stay-home orders issued by various states so that consumers can return to stores and shop, and employees can return to their jobs. As a result, we expect a phased return to operations over a period of time. Additionally, as we prepare to re-open stores and re-start plants, we continue to follow enhanced health and safety protocols across all locations to ensure our people and our customers are well protected.”

The company remains focused on managing the business to preserve cash and to ensure the continued liquidity of the company.

Customers are invited to engage with La-Z-Boy online and continue their shopping experience by placing orders at La-Z-Boy.com and Joybird.com.

About La-Z-Boy

La-Z-Boy Incorporated is one of the world’s leading residential furniture producers, marketing furniture for every room of the home. The Upholstery segment companies are England and La-Z-Boy. The Casegoods segment consists of three brands: American Drew®, Hammary®, and Kincaid®. The company-owned Retail segment includes 155 of the 355 La-Z-Boy Furniture Galleries® stores. Joybird is an e-commerce retailer and manufacturer of upholstered furniture. The corporation’s branded distribution network is dedicated to selling La-Z-Boy Incorporated products and brands, and includes 355 stand-alone La-Z-Boy Furniture Galleries® stores and 559 independent Comfort Studio® 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/.

Contact:

Kathy Liebmann – kathy.liebmann@la-z-boy.com – (734) 241-2438

Source: La-Z-Boy Incorporated