La Z Boy

2 Pages 472 Words

Group Project
Financial Accounting

La-Z-Boy Intro


La-Z-boy Corporation was started in the 1920's and is now known as one of the largest best selling furniture industries to date. La-z-boy unlike other furniture companies which at the time focused on quality and customer satisfaction the most. The company also added a twist to there product by offering a year around piece of furniture which held the a certain name to it. Along with names the company also held furniture shows which consisted of circus mice, Merry-go rounds and Ferris wheels. Although the La-Z-Boy company profit tremendously form the time it started out of a garage, the company truly started to compete with other corporations when it went public in 1961. From 1961 to 1971 the La-z-Boy corporation witnessed astonishing sales when they introduced there reclining rocker chair which at the time increased sales from 1.1million dollars to 52.7million. In 1972 the company entered the market and Six hundred people brought more than 320,000 shares in over the counter trading. By the end of the year La-z-Boy received annual sales of more than 152 million. At this time the company started to open up La-z-boy showcases which was meant to provide customers seeking genuine La-Z-Boy comfort furniture. To jump forward, La-z-boy hasn't let go of incorporating future technology in there chairs, from chairs that rocked, swiveled, glided and lifted to those that store items, massage and heat, and even have built in phones and laptop computers with internet hook up La-z-boy has no signs of not introducing quality products. By obtaining other furniture companies like Hammary, Kincaid, England/Corsair, Centurion, Sam More, Bauhaus USA, and more La-z-boy has gained access to newer markets and more customers. In 1997 the company exceeded 1 billion in annual sales and left its competition behind selling twice as much as it closets competitor. La-Z-boy a name synonymous with comfort will go...