04:47 PM EDT, 07/14/2025 (MT Newswires) -- La-Z-Boy ( LZB ) said late Monday it has struck a deal to acquire a La-Z-Boy Furniture Galleries store network in the southeast region from Atlanta Furniture Galleries.

The acquisition of 15 stores will bring company-owned count to 220, 60% of its total network, the company said. The business generated about $80 million in annual sales.

Upon deal closing, the stores will become part of La-Z-Boy's ( LZB ) retail reporting segment. The acquisition is expected to be completed in late October, the company said.

The company added that it now expects fiscal Q1 sales and adjusted operating margin to be near the low end of the ranges of its previous outlook due to a challenging consumer and macroeconomic landscape.

The shares were down about 2.5% in after-hours trading.