La-Z-Boy Incorporated Publishes Inaugural ESG Report

MONROE, Mich., July 20, 2022 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today published its inaugural Environmental, Social and Governance (ESG) report. The report shares how La-Z-Boy Incorporated’s continued investments into sustainable products, a healthy planet, and a values-based culture is driving results for customers, consumers, employees, shareholders, and the world at large.

Melinda Whittington, President and CEO of La-Z Boy Incorporated said, “For nearly 100 years, La-Z-Boy Incorporated has delivered quality and comfort to families around the world. As we build the La-Z-Boy of tomorrow, our goal is to make the world a better place through the transformational power of comfort. This means we embrace curiosity for sustainable design, operate with compassion for a sustainable planet, and empower courage for a sustainable culture, leveraging our core values.”

Deliver Sustainable Comfort is the philosophy embedded into La-Z-Boy Incorporated’s ESG initiatives. In 2021, La-Z-Boy Incorporated made notable progress across three key pillars: Sustainable Design, Sustainable Planet, and Sustainable Culture. Highlights include:

Sustainable Design

• Received a High Score on the Wood Furniture Scorecard, an initiative of the National Wildlife Federation and Sustainable Furnishings Council to show the progress of sustainability initiatives by furniture companies.
• Established the Supplier Inclusion Program, which seeks to ensure inclusion is a component of every product La-Z-Boy Incorporated makes.

Sustainable Planet

• Joined the Science Based Targets initiative (SBTi) to reach net-zero emissions by 2050.
• Executed a Virtual Power Purchase Agreement to help La-Z-Boy Incorporated address the carbon footprint of more than 90% of its current total annual U.S. energy consumption.

Sustainable Culture

• Signed the CEO Action for Diversity & Inclusion pledge which outlines specific actions to cultivate a diverse, inclusive and trusting environment.
• Granted more than $2.7 million to non-profit organizations through cash and in-kind donations from La-Z-Boy Incorporated and the La-Z-Boy Foundation.

To learn more about how La-Z-Boy Incorporated delivers sustainable comfort, read the full ESG Report at https://www.la-z-boy.com/content/AboutLaZBoy.

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 SEC, which is available at: https://lazboy.gcs-web.com/financial-information/sec-filings. 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: https://lazboy.gcs-web.com/.

Background Information

La-Z-Boy Incorporated is one of the world’s leading residential furniture producers, marketing furniture for every room of the home. The Wholesale segment includes England, La-Z-Boy, American Drew^®, Hammary^®, Kincaid^® and the company's international wholesale and manufacturing businesses. The company-owned Retail segment includes 161 of the 348 La-Z-Boy Furniture Galleries^® stores. Joybird is an e-commerce retailer and manufacturer of upholstered furniture.

The corporation’s branded distribution network is dedicated to selling La-Z-Boy Incorporated products and brands, and includes 348 stand-alone La-Z-Boy Furniture Galleries^® stores and 531 independent Comfort Studio^® locations, in addition to in-store gallery programs for the company’s Kincaid and England operating units. Additional information is available at http://www.la-z-boy.com/.

Contact:

Kathy Liebmann

(734) 241-2438

kathy.liebmann@la-z-boy.com