Kathwari: Little impact from antidumping effort
By Furniture Today Staff -- Furniture Today, January 26, 2004
DANBURY, Conn. — Ethan Allen Chairman Farooq Kathwari last week said the antidumping petition filed against Chinese bedroom furniture producers has a 50-50 chance of succeeding, but would have very little impact on his company.
During a conference call to discuss the manufacturer-retailer's quarterly financial results, he said bedroom furniture is a small part of the company's product mix, so any duties that might be imposed would have minimal impact.
"We are watching it very carefully … but I don't think it's going to be a negative for us," he told securities analysts. "If duties are imposed, it's possible that some production could move back to the United States in the short term, but in the long term it might move elsewhere (offshore)."
About 30% of Ethan Allen's line is made offshore, he said.
