Buried in La-Z-Boy’s annual report is a warning to investors that reads like a typo.
It says that if tariffs get cheaper, the company could be in trouble.
Not more expensive. Cheaper. The exact words are that if certain tariffs are eliminated or reduced, La-Z-Boy may face additional competition from foreign manufacturers entering the United States market, putting pressure on its prices and margins.
Read that twice. A furniture company is telling the Securities and Exchange Commission that lower import taxes are a risk factor.
There is only one kind of company that writes a sentence like that. The kind that never left.