La-Z-Boy Inc., which operates a furniture-making plant in Tremonton, Box Elder County, reported $540 million in net sales for its fourth fiscal quarter ending April 26. That is a 9.4 percent decline from $596 million in sales during the same quarter a year ago.
Net income for the quarter totaled $25.1 million, or 45 cents per diluted share, up from $24.9 million, or 41 cents per diluted share, during the same quarter last year.
Due to the sales decline, the Michigan-based company said in a news release Wednesday, La-Z-Boy may "take extended summer vacation plant shut downs in addition to the traditional time taken in July."
Jerry Garren, vice president of La-Z-Boy Utah, said the Tremonton plant, which employs about 1,000 people, normally shuts down for one week in July. However, it may shut down for two weeks this year, he said.
Mark Stegeman, La-Z-Boy spokesman and treasurer, said the company had not determined which of its 41 plants would be affected by the extended shutdowns.
Stegeman blamed declining sales on sinking 401(K) portfolios, terrorist alerts and consumers spending more on bigger homes rather than furniture.