Ethan Allen Expects 44.9 Pct Retail Written Orders Growth

Ethan Allen Expects 44.9 Pct Retail Written Orders Growth

Ethan Allen Interiors Inc. anticipates reporting retail segment written orders growth of 44.9 percent over the prior year for its Q2, which concluded Dec. 31, 2020, according to a press release.

The company also anticipates reporting adjusted diluted earnings per share (EPS) between 67 cents and 69 cents on $178.8 million in consolidated net sales. Moreover, Ethan Allen anticipates reporting formidable cash flow generation, with $23.7 million in cash provided by operating activities.

“We are very pleased that despite many challenges due to the ongoing COVID-19 pandemic, we had a strong performance. The increased consumer focus on the home has continued a strong demand for our product offerings and design services,” Ethan Allen Chairman, President and CEO Farooq Kathwari said in the press release.

The firm’s board boosted the company’s typical quarterly cash dividend by 19 percent on Nov. 12, 2020, and it also declared a 25 cent per share regular quarterly cash dividend to be paid Jan. 21, 2021.

Ethan Allen Interiors Inc. is an interior design firm, maker and merchant in the home furnishings market, and is a vertically integrated brand.

The firm offers free interior design service to customers and sells as host of furniture items and decorative accents via roughly 300 design centers in the United States and internationally as well as through its website.

Those centers are independent licensees or locations owned and run by the company. The firm runs retail design centers in the U.S. and Canada, while the independently run design centers are in the U.S. the Middle East, Asia and Europe.

Ethan Allen owns and runs nine factories, with the inclusion of six manufacturing facilities in the U.S., one manufacturing facility in Honduras and two manufacturing facilities in Mexico.

In separate retail earnings news, Nordstrom registered a 22 percent net sales drop for the nine-week holiday period that concluded Jan. 2. The sales of November and December together followed Nordstrom’s anticipations for a decline.