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Segment Information
 9 Months Ended
Jan. 25, 2020
Segment Reporting [Abstract]  
Segment Information Segment Information
Our reportable operating segments are the Upholstery segment, the Casegoods segment and the Retail segment.
Upholstery Segment. Our Upholstery segment is our largest business segment and consists primarily of two operating segments: La-Z-Boy, our largest operating segment, and the operating segment for our England subsidiary. The Upholstery segment also includes our international wholesale businesses. We aggregate these operating segments into one reportable segment because they are economically similar and because they meet the other aggregation criteria for determining reportable segments. Our Upholstery segment manufactures and imports upholstered furniture such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans and sleeper sofas. The Upholstery segment sells directly to La-Z-Boy Furniture Galleries® stores, operators of La-Z-Boy Comfort Studio® locations and England Custom Comfort Center locations, major dealers, and a wide cross-section of other independent retailers.
Casegoods Segment. Our Casegoods segment consists of one operating segment that sells furniture under three brands: American Drew®, Hammary®, and Kincaid®. The Casegoods segment is an importer, marketer, and distributor of casegoods (wood) furniture such as bedroom sets, dining room sets, entertainment centers and occasional pieces, and also manufactures some coordinated upholstered furniture. The Casegoods segment sells directly to major dealers, as well as La-Z-Boy Furniture Galleries® stores, and a wide cross-section of other independent retailers.
Retail Segment. Our Retail segment consists of one operating segment comprised of our 155 company-owned La-Z-Boy Furniture Galleries® stores. The Retail segment sells primarily upholstered furniture, in addition to some casegoods and other accessories, to end consumers through these stores.
Corporate & Other. Corporate & Other includes the shared costs for corporate functions, including human resources, information technology, finance and legal, in addition to revenue generated through royalty agreements with companies licensed to use the La-Z-Boy® brand name on various products. We consider our corporate functions to be other business activities and have aggregated them with our other insignificant operating segments including our global trading company in Hong Kong and Joybird, an e-commerce retailer that manufactures upholstered furniture such as sofas, loveseats, chairs, ottomans, sleeper sofas and beds, and also imports casegoods (wood) furniture such as occasional tables and other accessories. Joybird sells to the end consumer primarily online through its website, www.joybird.com. None of the operating segments included in Corporate & Other meet the requirements of reportable segments.








The following table presents sales and operating income (loss) by segment:
 
 
Quarter Ended
 
Nine Months Ended
(Unaudited, amounts in thousands)
 
1/25/20
 
1/26/19
 
1/25/20
 
1/26/19
Sales
 
 
 
 
 
 
 
 
Upholstery segment:
 
 
 
 
 
 
 
 
Sales to external customers
 
$
262,835

 
$
265,487

 
$
746,851

 
$
759,569

Intersegment sales
 
73,861

 
68,961

 
204,116

 
185,370

Upholstery segment sales
 
336,696

 
334,448

 
950,967

 
944,939

 
 
 
 
 
 
 
 
 
Casegoods segment:
 
 
 
 
 
 
 
 
Sales to external customers
 
22,583

 
23,129

 
68,561

 
73,774

Intersegment sales
 
5,532

 
4,936

 
16,079

 
14,054

Casegoods segment sales
 
28,115

 
28,065

 
84,640

 
87,828

 
 
 
 
 
 
 
 
 
Retail segment sales
 
167,494

 
159,417

 
458,894

 
418,331

 
 
 
 
 
 
 
 
 
Corporate and Other:
 
 
 
 
 
 
 
 
Sales to external customers
 
22,944

 
19,549

 
62,395

 
39,936

Intersegment sales
 
2,725

 
3,300

 
8,137

 
9,156

Corporate and Other sales
 
25,669

 
22,849

 
70,532

 
49,092

 
 
 
 
 
 
 
 
 
Eliminations
 
(82,118
)
 
(77,197
)
 
(228,332
)
 
(208,580
)
Consolidated sales
 
$
475,856

 
$
467,582

 
$
1,336,701

 
$
1,291,610

 
 
 
 
 
 
 
 
 
Operating Income (Loss)
 
 
 
 
 
 
 
 
Upholstery segment
 
$
46,512

 
$
34,566

 
$
104,859

 
$
90,602

Casegoods segment
 
2,534

 
3,332

 
7,336

 
10,173

Retail segment
 
16,383

 
14,158

 
33,272

 
25,179

Corporate and Other
 
(13,116
)
 
(11,213
)
 
(40,131
)
 
(33,451
)
Consolidated operating income
 
52,313

 
40,843

 
105,336

 
92,503

Interest expense
 
(265
)
 
(538
)
 
(891
)
 
(1,143
)
Interest income
 
844

 
540

 
2,093

 
1,534

Other income (expense), net
 
(5,998
)
 
(941
)
 
(5,390
)
 
(2,046
)
Income before income taxes
 
$
46,894

 
$
39,904

 
$
101,148

 
$
90,848