La-Z-Boy UK sales down due to backlog reduction

The UK division of upholstery producer La-Z-Boy Integrated has reported a decline in gross sales because of decreased backlog in opposition to earlier years.

In keeping with its newest filed accounts for the yr ended 27 April 2024, complete gross sales fell 35% to £25.3m from £38.8m in 2023.

Pre-tax revenue resulted at £3m, down from its revenue of £3.8m recorded within the earlier yr. Gross margin was 24.8% in comparison with 18.1% year-on-year.

Said inside its report, the corporate stated: “We have now seen a decline in turnover year-on-year of 35%. The decline in turnover in contrast with the earlier fiscal yr was a direct results of the historic backlog of orders we skilled throughout our 2022 fiscal yr which led into our 2023 fiscal yr.

“Provide chain points beforehand skilled had resulted in extraordinarily excessive transportation and logistics prices and people prices started to normalise later in our 2023 fiscal yr. In consequence, in our 2024 fiscal yr we have been capable of ship a slight enchancment in gross margin as these prices have been barely decrease.”