Ethan Allen orders increase 25% in year's first months
By Furniture Today Staff -- Furniture Today, March 15, 2010
DANBURY, Conn. —
Ethan Allen's written orders for the two months ended Feb. 28 were up about 25% from the same period a year earlier, the company said.
Farooq Kathwari, chairman and CEO, announced the preliminary results in advance of an investor conference presentation.
“We are pleased that our marketing programs that focus on projecting our value proposition of style, quality, and design services together with significant savings are driving traffic to our design centers. This increase in traffic is resulting in higher written orders than we have seen in some time.
“It is important to keep in mind that for the most part, orders taken in this period will be delivered and reported as sales in our fourth fiscal quarter ending June 30,” he said in a statement.
In its fiscal second quarter ended Dec. 31, the retailer and manufacturer posted a $3.3 million loss, resulting in large part from consolidation and restructuring initiatives. Sales for the quarter were $143.3 million, with net sales for retail operations declining 27.2% to $107.1 million and wholesale net sales down 22.3% to $84.5 million.
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