Third-quarter sales down 7.7% for Ethan Allen
Earnings dip 12.5% to $17.5 million
Larry Thomas -- Furniture Today, April 24, 2007
DANBURY, Conn. — Continuing softness at retail led to a 7.7% decline in sales during the most recent quarter at Ethan Allen.
The manufacturer and retailer also reported a 12.5% decline in net income for the third quarter of its fiscal year, ended March 31.
Net sales amounted to $246.5 million, down from $267.1 million for the comparable period in 2006. Net income was $17.5 million or 54 cents per share, compared with $20 million or 59 cents per share a year earlier.
“While we recognize that the home furnishings retail environment remains uncertain, some positive trends have emerged in recent weeks,” said Farooq Kathwari, chairman and CEO. “In addition, we continue to believe that our strategic initiatives provide us with stronger positioning as conditions improve.”
During the most recent quarter, net delivered sales at the company’s retail division decreased 0.3% to $167.7 million, while wholesale sales fell 10.6% to $171.9 million.
For the first nine months of its fiscal year, Ethan Allen had net sales of $746.8 million, a 6% decline from the first nine month of the previous fiscal year.
Nine-month net income totaled $48.7 million or $1.50 per fully diluted share. That’s a 23% decline from the comparable period the previous year, when earnings were $63.3 million or $1.85 per share.
-
Ethan Allen sales climb 5.7% in latest quarter
Jan 25, 2012 -
Mattress Firm sees 40.4% rise in third quarter sales
Dec 22, 2011 -
Ethan Allen sales down 7.7%
Apr 29, 2007 -
Ethan Allen sales, earnings fall
Feb 18, 2007
Specialty retailer LoveSac introduces new store design
Belfort Furniture, Lawrance Furniture are NHFA Retailers of Year
Kincaid Furniture honors Jimmy and Rosalynn Carter for Habitat work
Furniture, mattress sales boost Conn's sales 37.6% in recent quarter
IMC honors Mike Snider with Robert H. Spilman award for excellence
Featured Company
-
Brandwise Inc.
Brandwise serves a model - not just an industry - by integrating, automating, and optimizing the entire sales channel, from wholesale Suppliers to their Reps and the Retailers they service. In short, our software helps Reps and Suppliers sell more and create... more
VIEW ALL GALLERIES
