Ethan Allen reports increased sales
DANBURY -- Ethan Allen Interiors, a Danbury-based furniture maker, reported nets sales of $193.3 million, an increase of 1.5 percent over last year, as the company released fiscal 2017 first quarter results on Tuesday.
The company reported a 4.3 percent increase in retail net sales, which totaled $152.3 million. Wholesale net sales, however, decreased 4.9 percent to $114.6 million.
“We are pleased with our results, including an 8.1 percent written sales increase, and with the fact that we have maintained a strong adjusted operating margin of 9.8 percent despite making added investments in a number of areas …,” Farooq Kathwari, chairman and CEO, said. “We are also happy with the continued increase of our cash dividend, which rose this quarter by 18.7 percent to $4.7 million. Our many initiatives will continue to position us as a known and desired brand. We remain cautiously optimistic.”
Ethan Allen will launch its Disney-inspired furniture and home décor collection on Nov. 18.