Meet&CoMONROE, Mich. — La-Z-Boy Inc., a leading furniture manufacturer and Top 100 retailer, has entered into an agreement to purchase 15 La-Z-Boy Furniture Galleries stores and four warehouses from Atlanta Furniture Galleries, a major independent licensee in the Southeast.
Owned by Tom and Amy DeGoey, Atlanta Furniture Galleries is La-Z-Boy’s second-largest independent operator, generating approximately $80 million in annual sales. The acquisition, expected to close in late October, will be funded with existing cash reserves. Further financial details will be shared in La-Z-Boy’s fiscal 2026 second-quarter earnings report this November.
La-Z-Boy President and CEO Melinda D. Whittington said the acquisition supports the company’s growth strategy in a key region, noting the importance of markets such as Atlanta, Orlando, Jacksonville, and Knoxville. She also acknowledged the DeGoeys’ long-standing contributions, highlighting their leadership, innovation in retail practices, and commitment to the La-Z-Boy brand over the past two decades.
Tom DeGoey, who has led the business since 2004, expressed confidence in La-Z-Boy’s continued stewardship of the stores. He praised the team behind the Southeast operation and believes the transition will bring further growth under La-Z-Boy’s ownership.
Once the acquisition is finalized, the 15 stores will be integrated into La-Z-Boy’s retail segment, increasing the number of company-owned locations to 220—accounting for 60% of the brand’s total gallery network. The acquisition is expected to be immediately accretive to both sales and profits, contributing an estimated $40 million in additional annual sales, as La-Z-Boy already manufactures products for these stores through its Wholesale segment.
Whittington framed the acquisition as part of La-Z-Boy’s long-term “Century Vision” strategy to expand its direct-to-consumer and retail presence. Despite economic pressures, she emphasized that the company is staying focused on long-term investments that position it for sustainable growth.
Separately, due to softening market conditions, La-Z-Boy now anticipates its fiscal first-quarter sales and operating margin will fall near the lower end of previously stated guidance for the period ending July 26.
