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All about the outlook
The retail world takes center stage this week as financial markets are poised to dissect a slew of earnings reports from major retailers who will be sharing details on the profitability of holiday sales, perspective on the state of the economic recovery and the outlook for consumer spending during the remainder of 2011.
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Housing challenges impact La-Z-Boy's 3Q sales
MONROE, Mich. -- La-Z-Boy reported that sales for the third quarter declined 4.3%, partly due to ongoing challenges related to housing and consumer confidence. Net income for the fiscal 2011 third quarter was 19 cents per share, which includes a 6-cent tax benefit, versus 21 cents per share in last year's third quarter.
The retail segment's sales increased 9.2%, and it experienced its eighth consecutive quarterly improvement of operating margin performance compared with the prior year, the company reported.