Ethan Allen Net Up 70 Percent for Fiscal Year After Small Gain in 4Q

DANBURY, Conn.-After a slight increase of 1.7 percent in the fourth quarter, Ethan Allen's bottom line firmed by 70 percent for its fiscal year ending on June 30.

Net income totaled $7.3 million in the fourth quarter and $49.7 million for the fiscal year. Net sales for the quarter were $185.3 million, and for the year net sales registered $729.4 million. In the quarter, Ethan Allen's sales were fueled by a 5 percent pickup in sales from its retail division, which included comparable design-center sales growth of 3.6 percent.

Also in the quarter, the bottom line benefited from a 100 basis-point pickup in gross margin, to 53.9 percent. Operating expenses finished the quarter up 3.3 percent in dollars but down 37 basis points as a percentage of sales, to 46.2 percent.

Summing up the fiscal year, Farooq Kathwari, Ethan Allen's chairman and CEO, said the company is "well positioned to grow. We have substantially strengthened the main ares of our vertically integrated structure including our product offerings, our advertising and communications, our interior-design retail network, our manufacturing and logistics operations, and in the technology employed throughout our business."

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.