<HTML><HEAD><TITLE></TITLE>

 </HEAD>
<BODY><!-- MARKER FORMAT-SHEET="Para Large Indent Lv 0-TNR" FSL="Workstation" -->
<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;October 6,
2004&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>





<BR><BR>
<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><BR><!-- MARKER FORMAT-SHEET="Head Minor Center-TNR" FSL="Default" --><A
name=A006></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;&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>






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

<p><FONT FACE="Times New Roman" SIZE="2"><b>Item 7.01:  Regulation FD Disclosure</b><br><br>On October 6, 2004, the Registrant issued a press release commenting on its business outlook.
&nbsp;&nbsp;A copy of the press release is attached hereto as Exhibit 99. </font></p>


<!-- MARKER FORMAT-SHEET="Head Minor Center Bold-TNR" FSL="Project" -->
<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%"><FONT face="Times New Roman, Times, Serif"
    size=2></FONT></TD>
    <TD width="10%"><FONT face="Times New Roman, Times, Serif"
    size=2></FONT></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><BR><!-- MARKER FORMAT-SHEET="Para Indent Lv 0-TNR" FSL="Project" -->
<P><FONT face="Times New Roman, Times, Serif" size=2>Date: October 6, 2004
</FONT></P><!-- MARKER FORMAT-SHEET="Signature (Single)" FSL="Project" -->
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="40%"><FONT face="Times New Roman, Times, Serif"
    size=2></FONT></TD>
    <TD width="10%"><FONT face="Times New Roman, Times, Serif"
    size=2></FONT></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><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR><BR>
<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"></p>
<P><FONT face="Times New Roman, Times, Serif" size=2><B>NEWS RELEASE</B>
</FONT></P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center>

  <TR vAlign=bottom>
    <TH align=left><FONT face="Times New Roman, Times, Serif"
size=2></FONT></TH>
    <TH align="center"><FONT face="Times New Roman, Times, Serif"
    size=2></FONT></TH>
    <TH align=right><FONT face="Times New Roman, Times, Serif"
    size=2></FONT></TH></TR>
  <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><!-- MARKER FORMAT-SHEET="Head Minor Center Bold" FSL="Default" -->


<!-- MARKER FORMAT-SHEET="Head Minor Center Bold" FSL="Default" -->



<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><u>LA-Z-BOY COMMENTS ON
BUSINESS OUTLOOK </U></FONT></H1>

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>MONROE, MI. October 6, 2004 &#150;
La-Z-Boy Incorporated <B>(NYSE, PCX: LZB)</B> said today it now expects earnings per share
for its second fiscal quarter ending October 23, 2004 to be in the range of $0.13 &#151;
$0.15 per diluted share, which will include a restructuring charge of $0.01 and up to a
$0.07 potential loss from the consolidation of Variable Interest Entities (VIEs). The
previously announced range of diluted earnings per share was $0.29 &#151; $0.33 and
included the $0.01 for a restructuring charge and up to $0.02 of potential loss from VIEs. </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>La-Z-Boy president and CEO Kurt
Darrow noted, &#147;While we still expect our year-over-year sales for the October quarter
to increase in the mid-single digit percentage range, we are reducing our earnings
guidance primarily as a result of three factors. First, raw material price increases in
lumber and unprecedented increases in steel have risen more significantly than
anticipated. With approximately 78% of our total volume in the upholstery segment this has
had a substantial impact on our margins. This was further magnified by the relatively
large portion of recliners within our upholstery business mix which require more steel
because of the recliner mechanism. Although we have adjusted our pricing to recover some
of these costs, our backlog during the quarter is not maturing to the new pricing as
quickly as we expected and we are absorbing the majority of these price increases. We
expect this transition in pricing to be completed during our third fiscal quarter.
Furthermore, we are determined to increase our market share in spite of the current
aggressive promotional discounting in the marketplace which also added to the pressure on
our margins.&#148; </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Darrow continued, &#147;The second
contributing factor is a much greater expected loss from our VIEs as a result of
performance issues at those entities during the summer months. We are in the process of
taking specific actions to rectify those operations&#146; results. Lastly, although we are
encouraged by the progress being made in improving our casegoods volume, we continue to
work through a challenging time as we transition our business model from primarily a
domestic manufacturer to being an importer, marketer and distributor of casegoods. In
particular, our Pennsylvania House operation has experienced significant unanticipated
production inefficiencies as a result of our previously announced closing of our Lewisburg
facility.&#148; </FONT></P>

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Darrow concluded, &#147;While we are
disappointed with the anticipated results this quarter, the actions we have taken will
ultimately culminate in improving performance for our company.&#148; In 2004&#146;s second
fiscal quarter, La-Z-Boy Incorporated earned $0.28 per diluted share, which included a
$0.02 restructuring charge on sales of $511 million. The company plans to report this
year&#146;s fiscal second quarter operating results after the market close Tuesday,
November 9, 2004 with its regular quarterly investor conference call the following
morning, Wednesday, November 10, 2004 at 11:00 a.m. EST. </FONT></P>

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

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

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Any forward-looking statements
contained in this news release are based on current information and assumptions and
represent management&#146;s best judgment at the present time. Actual results could differ
materially from those anticipated or projected due to a number of factors. These factors
include, but are not limited to: changes in consumer sentiment or demand, changes in
demographics, changes in housing sales, the impact of terrorism or war, energy price
changes, the impact of logistics on imports, the impact of interest rate changes, the
ultimate effect of the antidumping duties imposed by the U.S. International Trade
Commission on wooden bedroom furniture imported from China and potential disruptions of
Chinese imports, the availability and cost of capital, the impact of imports as it relates
to continued domestic production, changes in currency rates, competitive factors,
operating factors, such as supply, labor, or distribution disruptions including changes in
operating conditions or costs, effects of restructuring actions, changes in the domestic
or international regulatory environment, not fully realizing cost reductions through
restructurings<I>,</I> ability to implement global sourcing organization strategies, the
future financial performance and condition of independently owned dealers that we are
required to consolidate into our financial statements or changes requiring us to
consolidate additional independently owned dealers, the impact of new manufacturing
technologies, the impact of adopting new accounting principles, fair value changes to our
intangible assets due to actual results differing from projected, factors relating to
acquisitions and other factors identified from time to time in the company&#146;s reports
filed with the Securities and Exchange Commission. The company undertakes no obligation to
update or revise any forward-looking statements, either to reflect new developments, or
for any other reason. </FONT></P>

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

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

<!-- MARKER FORMAT-SHEET="Para Flush" FSL="Default" -->
<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>This news release is just one part of
La-Z-Boy&#146;s financial disclosures and should be read in conjunction with other
information filed with the Securities and Exchange Commission, which is available at
<U>http://www.la-z-boy.com/about/ir_sec.asp</U>. Investors and others wishing to be
notified of future La-Z-Boy news releases, SEC filings and quarterly investor conference
calls may sign up at: <U>http://my.lazboy.com/mygallery/investor_relations.cfm</U>. </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, La-Z-Boy Contract 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 325 stand-alone La-Z-Boy Furniture Galleries&reg; stores
and 342 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 <U>http://www.la-z-boy.com/</U>. </FONT></P>







</BODY>
</HTML>
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{"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": "041068775"}, "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
October 6,
2004
(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 7.01:  Regulation FD Disclosure
On October 6, 2004, the Registrant issued a press release commenting on its business outlook.
  A copy of the press release is attached hereto as Exhibit 99.
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: October 6, 2004
BY: /S/ Louis M. Riccio, Jr.
Louis M.
      Riccio, Jr.
Corporate Controller
On behalf of the registrant and
      as
Chief Accounting Officer
Exhibit 99
NEWS RELEASE
Contact:  Mark Stegeman
(734)
      241-4418
mark.stegeman@la-z-boy.com
LA-Z-BOY COMMENTS ON
BUSINESS OUTLOOK
MONROE, MI. October 6, 2004 –
La-Z-Boy Incorporated
(NYSE, PCX: LZB)
said today it now expects earnings per share
for its second fiscal quarter ending October 23, 2004 to be in the range of $0.13 —
$0.15 per diluted share, which will include a restructuring charge of $0.01 and up to a
$0.07 potential loss from the consolidation of Variable Interest Entities (VIEs). The
previously announced range of diluted earnings per share was $0.29 — $0.33 and
included the $0.01 for a restructuring charge and up to $0.02 of potential loss from VIEs.
La-Z-Boy president and CEO Kurt
Darrow noted, "While we still expect our year-over-year sales for the October quarter
to increase in the mid-single digit percentage range, we are reducing our earnings
guidance primarily as a result of three factors. First, raw material price increases in
lumber and unprecedented increases in steel have risen more significantly than
anticipated. With approximately 78% of our total volume in the upholstery segment this has
had a substantial impact on our margins. This was further magnified by the relatively
large portion of recliners within our upholstery business mix which require more steel
because of the recliner mechanism. Although we have adjusted our pricing to recover some
of these costs, our backlog during the quarter is not maturing to the new pricing as
quickly as we expected and we are absorbing the majority of these price increases. We
expect this transition in pricing to be completed during our third fiscal quarter.
Furthermore, we are determined to increase our market share in spite of the current
aggressive promotional discounting in the marketplace which also added to the pressure on
our margins."
Darrow continued, "The second
contributing factor is a much greater expected loss from our VIEs as a result of
performance issues at those entities during the summer months. We are in the process of
taking specific actions to rectify those operations' results. Lastly, although we are
encouraged by the progress being made in improving our casegoods volume, we continue to
work through a challenging time as we transition our business model from primarily a
domestic manufacturer to being an importer, marketer and distributor of casegoods. In
particular, our Pennsylvania House operation has experienced significant unanticipated
production inefficiencies as a result of our previously announced closing of our Lewisburg
facility."
Darrow concluded, "While we are
disappointed with the anticipated results this quarter, the actions we have taken will
ultimately culminate in improving performance for our company." In 2004's second
fiscal quarter, La-Z-Boy Incorporated earned $0.28 per diluted share, which included a
$0.02 restructuring charge on sales of $511 million. The company plans to report this
year's fiscal second quarter operating results after the market close Tuesday,
November 9, 2004 with its regular quarterly investor conference call the following
morning, Wednesday, November 10, 2004 at 11:00 a.m. EST.
Forward-looking
Information
Any forward-looking statements
contained in this news release are based on current information and assumptions and
represent management's best judgment at the present time. Actual results could differ
materially from those anticipated or projected due to a number of factors. These factors
include, but are not limited to: changes in consumer sentiment or demand, changes in
demographics, changes in housing sales, the impact of terrorism or war, energy price
changes, the impact of logistics on imports, the impact of interest rate changes, the
ultimate effect of the antidumping duties imposed by the U.S. International Trade
Commission on wooden bedroom furniture imported from China and potential disruptions of
Chinese imports, the availability and cost of capital, the impact of imports as it relates
to continued domestic production, changes in currency rates, competitive factors,
operating factors, such as supply, labor, or distribution disruptions including changes in
operating conditions or costs, effects of restructuring actions, changes in the domestic
or international regulatory environment, not fully realizing cost reductions through
restructurings
,
ability to implement global sourcing organization strategies, the
future financial performance and condition of independently owned dealers that we are
required to consolidate into our financial statements or changes requiring us to
consolidate additional independently owned dealers, the impact of new manufacturing
technologies, the impact of adopting new accounting principles, fair value changes to our
intangible assets due to actual results differing from projected, factors relating to
acquisitions and other factors identified from time to time in the company's reports
filed with the Securities and Exchange Commission. The company undertakes no obligation to
update or revise any forward-looking statements, either to reflect new developments, or
for any other reason.
Additional Information
This news release is just one part of
La-Z-Boy's financial disclosures and should be read in conjunction with other
information filed with the Securities and Exchange Commission, which is available at
http://www.la-z-boy.com/about/ir_sec.asp
. Investors and others wishing to be
notified of future La-Z-Boy news releases, SEC filings and quarterly investor conference
calls may sign up at:
http://my.lazboy.com/mygallery/investor_relations.cfm
.
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, La-Z-Boy Contract 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 325 stand-alone La-Z-Boy Furniture Galleries® stores
and 342 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/
.