La-Z-Boy Incorporated Publishes Inaugural ESG Report
July 20 2022 - 4:15PM
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 |
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