La-Z-Boy Crashes Most Since 2022 As Frozen Housing Market Crushes Sofa Demand

La-Z-Boy Crashes Most Since 2022 As Frozen Housing Market Crushes Sofa Demand La-Z-Boy shares suffered their steepest decline in 4.5 years on Wednesday after the furniture maker's second-quarter guidance missed expectations, providing even more evidence that weak housing turnover has suppressed demand for big-ticket discretionary goods such as sofas and recliners. With mortgage rates elevated and home prices near record levels, affordability remains severely stretched, keeping transaction volumes depressed, thus limiting replacement purchases that typically drive furniture demand. La-Z-Boy forecasted second-quarter sales of $475.7 million, down 3% from a year earlier and well...