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<P align=center><FONT face="Times New Roman, Times, Serif" size=3><B>UNITED STATES<BR>SECURITIES
AND EXCHANGE COMMISSION</B> </FONT></P><!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Workstation" --><A
name=A001></A>
<H1 align=center><FONT face="Times New Roman, Times, Serif" size=3>WASHINGTON,
D.C. 20549-1004 </FONT></H1><!-- MARKER FORMAT-SHEET="Head Major Center Bold-TNR" FSL="Workstation" --><A
name=A002></A>
<H1 align=center><FONT face="Times New Roman, Times, Serif" size=3>FORM 8-K
</FONT></H1><!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Workstation" --><A
name=A003></A>
<P align=center><FONT face="Times New Roman, Times, Serif" size=2>Current Report
Pursuant to Section 13 or 15(d)of <BR>the Securities Exchange Act of 1934
</FONT></P><!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Default" --><A
name=A004></A>
<P align=center><FONT face="Times New Roman, Times, Serif"
size=3><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;April 29,
2005&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>(Date
of Report (Date of Earliest Event Reported))</FONT></P><!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Default" --><A
name=A005></A>
<P align=center><FONT face="Times New Roman, Times, Serif"
size=3><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LA-Z-BOY
INCORPORATED
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>(Exact
name of registrant as specified in its charter) </FONT></P>





<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" WIDTH="100%">
<TR VALIGN=Bottom>
     <TH COLSPAN=3><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MICHIGAN</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman, Times, Serif" SIZE=2>1-9656</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH>
     <TH COLSPAN=3><FONT FACE="Times New Roman, Times, Serif" SIZE=2>38-0751137</FONT><HR WIDTH=100% SIZE=1 COLOR=BLACK NOSHADE></TH></TR>
<TR VALIGN=Bottom>
     <TD WIDTH="1%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="28%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(State or other jurisdiction of</FONT></TD>
     <TD WIDTH="4%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="28%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(Commission</FONT></TD>
     <TD WIDTH="4%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="29%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(IRS Employer</FONT></TD>
     <TD WIDTH="4%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
<TR VALIGN=Bottom>
     <TD WIDTH="1%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="28%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>incorporation)</FONT></TD>
     <TD WIDTH="4%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="28%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>File Number)</FONT></TD>
     <TD WIDTH="4%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="1%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD>
     <TD WIDTH="29%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Indentification Number)</FONT></TD>
     <TD WIDTH="4%" ALIGN="CENTER"><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp;</FONT></TD></TR>
</TABLE>





<p>





<BR><BR>
</p>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center>

  <TR vAlign=bottom>
    <TH colSpan=3><FONT face="Times New Roman, Times, Serif" size=2>1284 North
      Telegraph Road, Monroe, Michigan</FONT>
      <HR width="100%" color=black noShade SIZE=1>
    </TH>
    <TH colSpan=3><FONT face="Times New Roman, Times, Serif"
      size=2>48162-3390</FONT>
      <HR width="100%" color=black noShade SIZE=1>
    </TH></TR>
  <TR vAlign=bottom>
    <TD align="center" width="41%"><FONT face="Times New Roman, Times, Serif"
      size=2>(Address of principal executive offices)</FONT></TD>
    <TD align=left width="1%"><FONT face="Times New Roman, Times, Serif"
      size=2>&nbsp;</FONT></TD>
    <TD align=left width="3%"><FONT face="Times New Roman, Times, Serif"
      size=2>&nbsp;</FONT></TD>
    <TD align="center" width="53%"><FONT face="Times New Roman, Times, Serif"
      size=2>Zip Code </FONT></TD>
    <TD align=left width="1%"><FONT face="Times New Roman, Times, Serif"
      size=2>&nbsp;</FONT></TD>
    <TD align=left width="1%"><FONT face="Times New Roman, Times, Serif"
      size=2>&nbsp;</FONT></TD></TR> </TABLE>
<P align=center><FONT FACE="Times New Roman" SIZE="2">Registrant's telephone number, including area code <U>(734)
241-4074</U></font></P>
<p><BR><!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Default" --><A
name=A006></A>
</p>
<P align=center><FONT face="Times New Roman, Times, Serif"
size=3><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;None&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> </FONT></P><!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Project" -->
<P align=center><FONT face="Times New Roman, Times, Serif"
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Former name or former
address, if changed since last report.)
</FONT></P>

<P><FONT FACE="Times New Roman" SIZE="2">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:<br><br>

[&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br><br>

[&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br><br>

[&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br><br>

[&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></p>






<p>






<BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>
</p>
<HR color=black SIZE=4>

<p><FONT FACE="Times New Roman" SIZE="2"><b>Item 8.01:  Other Events.</b><br><br>
On
April 29, 2005, the Registrant issued a press release announcing that </font>
<font size="2">it has completed a sale of its La-Z-Boy Contract unit, to the
Lange family, owners of Best Home Furnishings, Inc. of Ferdinand, IN.

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
</font><FONT FACE="Times New Roman" SIZE="2">&nbsp;&nbsp;&nbsp;A copy of the press release is attached hereto as Exhibit 99. </font></p>

<p> <font size="2">Item 9.01 - Financial Statements &amp; Exhibits </font> <br><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(c) &nbsp;<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;<font size="2">99.&nbsp;&nbsp; Press release dated April 29, 2005
<!-- MARKER FORMAT-SHEET="Head Minor Center Bold-TNR" FSL="Project" -->
</font>
<H1 align=left><FONT face="Times New Roman, Times, Serif"
size=3><B>SIGNATURE</B></FONT></H1><!-- MARKER FORMAT-SHEET="Para Flush Lv 0-TNR" FSL="Default" -->
<P><FONT face="Times New Roman, Times, Serif" size=2>Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized. </FONT></P><!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Project" -->
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="40%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="50%"><FONT face="Times New Roman, Times, Serif"
      size=2><B><u>LA-Z-BOY
      INCORPORATED&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u></B><BR>(Registrant)</FONT><BR></TD></TR> </TABLE>
<p><BR><!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
</p>
<P><FONT face="Times New Roman, Times, Serif" size=2>Date: April 29, 2005
</FONT></P><!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Project" -->
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="40%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="50%"><FONT face="Times New Roman, Times, Serif"
      size=2><BR><BR><u>BY: /S/ Louis M. Riccio, Jr.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u><BR>Louis M.
      Riccio, Jr.<BR>Corporate Controller<BR>On behalf of the registrant and
      as<BR>Chief Accounting Officer</FONT>
</TD></TR> </TABLE>
<p><BR><BR><BR>



<u>Exhibit Index</u> </p>
<p>
<u>Exhibit No.</u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;<u>Description</u>
<br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Press release dated
April 29, 2005 <BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>
</p>
<HR color=black SIZE=4>

<P><FONT face="Times New Roman, Times, Serif" size=2><B>Exhibit 99.</B>
</FONT></P>



<p align="center">
<IMG SRC="logo.jpg" ALIGN="MIDDLE" HSPACE="10" VSPACE="1" width="412" height="92">

<!-- MARKER FORMAT-SHEET="Head Left" FSL="Default" -->

</p>
<P ALIGN=LEFT><b><FONT FACE="Times New Roman, Times, Serif" SIZE=2>NEWS RELEASE </FONT>
</b></P>

<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center>

  <TR vAlign=top>
    <TD align=left><FONT face="Times New Roman, Times, Serif"
      size=2>Contact:&nbsp;&nbsp;Mark Stegeman </FONT></TD>
    <TD align="center"><FONT face="Times New Roman, Times, Serif" size=2>(734)
      241-4418 </FONT></TD>
    <TD align=right><FONT face="Times New Roman, Times, Serif"
      size=2><U>mark.stegeman@la-z-boy.com</U> </FONT></TD></TR></TABLE>
<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=4><u>LA-Z-BOY SELLS OFFICE
CONTRACT UNIT</u>  </FONT></H1>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
MONROE,  MI. April 29, 2005 - La-Z-Boy  Incorporated  <b>(NYSE, PCX:  LZB)</b> today  announced  that it has  completed a sale of its La-Z-Boy
Contract unit, to the Lange family, owners of  Best Home Furnishings, Inc. of Ferdinand, IN.
</FONT></P>
<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>La-Z-Boy Incorporated President and
CEO Kurt L. Darrow said, &#147;Our expertise, as well as our business model, is centered
on providing comfortable and stylish furnishings for the home. We have made a number of
changes over the past year to better align ourselves with that model. Our contract
business did not have the market position compared to the major office furniture players
and was not a large enough component of our overall business to justify our continued
corporate focus and resources. This sale enables us to concentrate our efforts more solely
on home furnishings which have substantially different dynamics than contract furniture,
as well as provide our contract furniture unit and its employees the opportunity to join
an organization that is committed to invest and grow this business.&#148; </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>La-Z-Boy Contract was founded in 1971
and sells a variety of seating products for task, operational and executive applications
in two primary market segments: the office contract business and health care. These
products are primarily manufactured in a Leland, Mississippi plant, which is included in
the sale. The sale also includes an agreement to continue the use of the La-Z-Boy&reg;
name in the Contract and Healthcare furniture markets through a licensing arrangement.
La-Z-Boy Contract will operate as a strategic business unit of the Lange family and will
remain separate from Best Home Furnishings. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>While the financial terms of the
transaction were not immediately disclosed, the company expects the transaction will
result in a gain, which will be reported when the company reports its April 30, 2005
fiscal year end results. </FONT></P>

<!-- MARKER FORMAT-SHEET="Head Major Left Bold" FSL="Default" -->

<H1 ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=3><u>Background Information</u> </FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>With annual sales of $2 billion,
La-Z-Boy Incorporated is one of the world&#146;s leading residential furniture producers,
marketing furniture for every room of the home and office, as well as for the hospitality,
health care and assisted-living industries. The La-Z-Boy Upholstery Group companies are
Bauhaus, Centurion, Clayton Marcus, England, La-Z-Boy and Sam Moore. The La-Z-Boy
Casegoods Group companies are American Drew, American of Martinsville, Hammary, Kincaid,
Lea and Pennsylvania House. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="2">The corporation&#146;s vast
proprietary distribution network is dedicated exclusively to selling La-Z-Boy Incorporated
products and brands, and includes 331 stand-alone La-Z-Boy Furniture Galleries&reg; stores
and 283 La-Z-Boy In-Store Gallerys, in addition to in-store gallery programs at the
company&#146;s Kincaid, Pennsylvania House, Clayton Marcus, England and Lea operating
units. According to industry trade publication <I>Furniture/Today</I>, the La-Z-Boy
Furniture Galleries retail network by itself represents the industry&#146;s fourth largest
U.S. furniture retailer and the second largest single source furniture retailer.
Additional information is available at </FONT> <FONT FACE="Times New Roman, Times, Serif" SIZE="2" COLOR="#0000FF"><U>http://www.la-z-boy.com/</U>. </FONT><FONT FACE="Times New Roman, Times, Serif" SIZE="2"><U></U></FONT> </P>




</BODY>
</HTML>
[{"type": "8-K", "sequence": "1", "filename": "eightk_contract.htm", "secsgml_size_bytes": 15626}]
{"company-data": {"conformed-name": "LA-Z-BOY INC", "cik": "0000057131", "assigned-sic": "2510", "irs-number": "380751137", "state-of-incorporation": "MI", "fiscal-year-end": "0430"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-09656", "film-number": "05784401"}, "business-address": {"street1": "1284 N TELEGRAPH RD", "city": "MONROE", "state": "MI", "zip": "48162", "phone": "7342414414"}, "mail-address": {"street1": "1284 N TELEGRAPH RD", "city": "MONROE", "state": "MI", "zip": "48162"}, "former-company": {"former-conformed-name": "LA Z BOY CHAIR CO", "date-changed": "19920703"}}
UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549-1004
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d)of
the Securities Exchange Act of 1934
April 29,
2005
(Date
of Report (Date of Earliest Event Reported))
LA-Z-BOY
INCORPORATED
(Exact
name of registrant as specified in its charter)
MICHIGAN
1-9656
38-0751137
(State or other jurisdiction of
(Commission
(IRS Employer
incorporation)
File Number)
Indentification Number)
1284 North
      Telegraph Road, Monroe, Michigan
48162-3390
(Address of principal executive offices)
Zip Code
Registrant's telephone number, including area code
(734)
241-4074
None
(Former name or former
address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
[ ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01:  Other Events.
On
April 29, 2005, the Registrant issued a press release announcing that
it has completed a sale of its La-Z-Boy Contract unit, to the
Lange family, owners of Best Home Furnishings, Inc. of Ferdinand, IN.
A copy of the press release is attached hereto as Exhibit 99.
Item 9.01 - Financial Statements & Exhibits
(c)
99.   Press release dated April 29, 2005
SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned thereunto duly
authorized.
LA-Z-BOY
      INCORPORATED
(Registrant)
Date: April 29, 2005
BY: /S/ Louis M. Riccio, Jr.
Louis M.
      Riccio, Jr.
Corporate Controller
On behalf of the registrant and
      as
Chief Accounting Officer
Exhibit Index
Exhibit No.
Description
99                     Press release dated
April 29, 2005
Exhibit 99.
NEWS RELEASE
Contact:  Mark Stegeman
(734)
      241-4418
mark.stegeman@la-z-boy.com
LA-Z-BOY SELLS OFFICE
CONTRACT UNIT
MONROE,  MI. April 29, 2005 - La-Z-Boy  Incorporated
(NYSE, PCX:  LZB)
today  announced  that it has  completed a sale of its La-Z-Boy
Contract unit, to the Lange family, owners of  Best Home Furnishings, Inc. of Ferdinand, IN.
La-Z-Boy Incorporated President and
CEO Kurt L. Darrow said, "Our expertise, as well as our business model, is centered
on providing comfortable and stylish furnishings for the home. We have made a number of
changes over the past year to better align ourselves with that model. Our contract
business did not have the market position compared to the major office furniture players
and was not a large enough component of our overall business to justify our continued
corporate focus and resources. This sale enables us to concentrate our efforts more solely
on home furnishings which have substantially different dynamics than contract furniture,
as well as provide our contract furniture unit and its employees the opportunity to join
an organization that is committed to invest and grow this business."
La-Z-Boy Contract was founded in 1971
and sells a variety of seating products for task, operational and executive applications
in two primary market segments: the office contract business and health care. These
products are primarily manufactured in a Leland, Mississippi plant, which is included in
the sale. The sale also includes an agreement to continue the use of the La-Z-Boy®
name in the Contract and Healthcare furniture markets through a licensing arrangement.
La-Z-Boy Contract will operate as a strategic business unit of the Lange family and will
remain separate from Best Home Furnishings.
While the financial terms of the
transaction were not immediately disclosed, the company expects the transaction will
result in a gain, which will be reported when the company reports its April 30, 2005
fiscal year end results.
Background Information
With annual sales of $2 billion,
La-Z-Boy Incorporated is one of the world's leading residential furniture producers,
marketing furniture for every room of the home and office, as well as for the hospitality,
health care and assisted-living industries. The La-Z-Boy Upholstery Group companies are
Bauhaus, Centurion, Clayton Marcus, England, La-Z-Boy and Sam Moore. The La-Z-Boy
Casegoods Group companies are American Drew, American of Martinsville, Hammary, Kincaid,
Lea and Pennsylvania House.
The corporation's vast
proprietary distribution network is dedicated exclusively to selling La-Z-Boy Incorporated
products and brands, and includes 331 stand-alone La-Z-Boy Furniture Galleries® stores
and 283 La-Z-Boy In-Store Gallerys, in addition to in-store gallery programs at the
company's Kincaid, Pennsylvania House, Clayton Marcus, England and Lea operating
units. According to industry trade publication
Furniture/Today
, the La-Z-Boy
Furniture Galleries retail network by itself represents the industry's fourth largest
U.S. furniture retailer and the second largest single source furniture retailer.
Additional information is available at
http://www.la-z-boy.com/
.