Diamonds and Dogs
11/29/12La-Z-Boy Incorporated (LZB)
La-Z-Boy Incorporated is not making investors feel comfortable today, down 9.71% at $14.60. The furniture company saw its shares fall apart after missing earnings expectations. La-Z-Boy earned $6.6 million or $0.12 per share, which is down from the $7.9 million or $0.15 per share earned last year. On a positive note, revenue increased 5% year over year to $322.3 million. Regardless, both EPS and revenue missed analysts' expectations of $325.4 million and $0.20 per share. La-Z-Boy CEO, Kurt Darrow said that the operating environment for the furniture industry remains challenging, but company outpaced the industry trends this quarter. The company is trading in the middle of its 52-week range.
Stein Mart Inc. (SMRT)
Stein Mart is looking good today, up 12.78% at $8.56. The apparel retailer saw its shares dress in green after an increase in total sales year over year. Total sales for the period ending November 24th were $109.8 million, an increase of 7.5% from $102.1 million in November of last year. Stein Mart also attracted investors by announcing a special dividend. The special dividend will be $1.00 per common share, with an expected total of about $44 million. The dividend will pay on December 24th to shareholders of record as of December 10th. Stein Mart is trading less than $1.00 from its 52-week high today.
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