Latest news with #FarooqKathwari
Yahoo
9 hours ago
- Business
- Yahoo
Ethan Allen Day: an American Brand Celebrates Its History
DANBURY, Conn., June 18, 2025 (GLOBE NEWSWIRE) -- Ethan Allen, a manufacturer and retailer of home furnishings founded in Vermont and headquartered in Danbury, Connecticut, will hold its annual Ethan Allen Day celebration on June 23. Founded in 1932, Ethan Allen opened its first sawmill in Beecher Falls, Vermont, in 1936. The company continues to manufacture furniture in Beecher Falls and Orleans, Vermont, as well as in Maiden and Claremont, North Carolina, in addition to having operations in Mexico and Honduras. Overall, the company manufactures about 75% of its furniture in North America. 'When most companies moved their manufacturing overseas, we deepened our commitment to making most of our furniture close to home, as we have done for the past 93 years,' stated Farooq Kathwari, Ethan Allen's Chairman, President, and CEO. 'We're proud to be named after one of America's founders, and we work to carry on his pioneering spirit in everything we do.' Ethan Allen operates more than 170 retail Design Centers throughout North America. To honor the company's commitment to the communities it serves, many of these Design Centers will hold food drives in partnership with local charities, collecting nonperishable goods for those in need. These food drives will start on June 23 and continue throughout the month of July; those who wish to participate should contact their nearest Design Center for more information. 'We're grateful for the talents and the service of all our associates, from those skilled at the craft of making furniture to the interior designers who help clients reimagine their homes,' Mr. Kathwari noted. 'Our clients can count on us to deliver the quality and craftsmanship that have always defined Ethan Allen and feel confident that we offer extraordinary values on everything we provide for the home.' ABOUT ETHAN ALLENEthan Allen (NYSE:ETD), named America's #1 Premium Furniture Retailer by Newsweek, is a leading interior design destination combining state-of-the-art technology with personal service. Ethan Allen design centers, which represent a mix of Company-operated and independent licensee locations, offer complimentary interior design service and sell a full range of home furnishings, including custom furniture and artisan-crafted accents for every room in the home. Vertically integrated from product design through logistics, the Company manufactures about 75% of its custom-crafted products in its own North American manufacturing facilities and has been recognized for product quality and craftsmanship since 1932. Learn more at and follow Ethan Allen on Facebook, Instagram, and LinkedIn. CONTACT:Catherine PlaistedSenior Vice President, in to access your portfolio
Yahoo
06-05-2025
- Business
- Yahoo
Ethan Allen Interiors Inc (ETD) Q3 2025 Earnings Call Highlights: Navigating Challenges with ...
Consolidated Net Sales: $142.7 million, reflecting lower delivered unit volume but higher average ticket price and improved contract sales. Gross Margin: 61.2%, driven by lower raw material costs and reduced headcount. Adjusted Operating Margin: 8%, compared to 10% a year ago. Adjusted Diluted EPS: $0.38, compared to $0.48 a year ago. Operating Cash Flow: $10.2 million generated during the third quarter. Total Cash and Investments: $183 million, with no outstanding debt. Retail Segment Written Orders: Down 13.2%. Wholesale Orders: Decreased by 11.2%. Wholesale Backlog: $54.6 million as of March 31. Headcount: 3,294, a decrease of 4.5% from a year ago. Capital Expenditures: $2.0 million, including new retail design centers and manufacturing equipment. Quarterly Cash Dividend: $0.39 per share, with a current yield of 5.4%. Warning! GuruFocus has detected 5 Warning Sign with ETD. Release Date: May 05, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ethan Allen Interiors Inc (NYSE:ETD) reported strong gross margins of 61.2% driven by lower raw material costs, reduced headcount, and higher average ticket prices. The company maintained a robust balance sheet with $183 million in cash and no outstanding debt. Ethan Allen Interiors Inc (NYSE:ETD) has a strong North American manufacturing presence, producing 75% of its furniture domestically, which minimizes tariff impacts. The company continues to pay regular quarterly cash dividends, with a current yield of 5.4%, one of the highest in the industry. Ethan Allen Interiors Inc (NYSE:ETD) has successfully leveraged technology to improve operational efficiency, reduce headcount by 36% since 2019, and enhance marketing reach. Consolidated net sales were $142.7 million, reflecting lower delivered unit volume despite higher average ticket prices. Retail segment written orders decreased by 13.2%, and wholesale orders decreased by 11.2%, indicating a challenging demand environment. The adjusted operating margin decreased to 8% from 10% a year ago, reflecting tighter expense management but lower profitability. The company experienced softness in demand during January and February due to weather, tariff uncertainty, and reduced traffic. Ethan Allen Interiors Inc (NYSE:ETD) faces challenges from elevated interest rates and a difficult housing market, impacting overall demand. Q: How do tariffs affect Ethan Allen's positioning in the industry, and are you seeing price increases from competitors? A: Farooq Kathwari, CEO, explained that Ethan Allen is less impacted by tariffs due to its North American manufacturing base, with only a small portion of products affected by tariffs. The company has not raised prices yet but will consider it if necessary. Competitors with more offshore dependency may need to increase prices more significantly. Q: Will Ethan Allen need to raise prices due to current cost pressures? A: Farooq Kathwari, CEO, stated that so far, they have not raised prices and will evaluate the need for price adjustments as part of regular business operations, particularly for imported products which are a small part of their total product line. Q: Can you comment on recent demand trends, particularly in April and early May? A: Farooq Kathwari, CEO, noted that April continued to show softness, but there was a positive trend towards the end of the month. May has shown more positive trends, although they remain cautious. Despite reduced traffic, those who visited made significant purchases. Q: How is Ethan Allen using promotions to drive traffic in a softer demand environment? A: Farooq Kathwari, CEO, mentioned that increasing discounts was not deemed necessary as the environment needed to improve for consumers to return. They maintained regular promotions without significant changes, as those who visited were already making purchases. Q: What is the impact of changes in the State Department on Ethan Allen's contract with them? A: Farooq Kathwari, CEO, indicated that while the contract remains, there has been a cautious approach from the State Department recently. They continue to buy, but the volume has decreased slightly due to changes within the department. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Globe and Mail
09-04-2025
- Business
- Globe and Mail
Ethan Allen's North American Manufacturing a Competitive Advantage
DANBURY, Conn., April 09, 2025 (GLOBE NEWSWIRE) -- In the wake of recent tariffs that have introduced significant challenges to furniture retailers dependent upon global supply chains, Ethan Allen's vertically integrated structure, with manufacturing operations based in North America, provides the company with a competitive advantage. 'We are a vertically integrated enterprise, from manufacturing to logistics to retail. When other furniture companies moved their manufacturing overseas, we chose to stay in North America and today make about 75% of our furniture in these workshops,' said Farooq Kathwari, Chairman, President and CEO of Ethan Allen. 'That decision has enabled us to focus on our longstanding reputation for quality and continue offering products at competitive values while also ensuring consistent, high levels of service to our clients. Making products in our own plants also enables us to offer a wide range of furniture styles, sizes, and customizations, bolstering our reputation as a leading interior design brand.' Founded in Vermont in 1932, Ethan Allen owns and operates U.S. manufacturing plants in Vermont and North Carolina while operating an upholstery plant in Silao, Mexico, and a case goods plant in Choloma, Honduras. Centering its business operations closer to its customer has helped the company become a leading interior design destination while earning recognition for its exceptional quality and service, having twice been named America's #1 Premium Furniture Retailer by Newsweek. Ongoing investments in technology throughout Ethan Allen's North American plants have improved efficiency and advanced precision in certain aspects of manufacturing while maintaining craftsmanship. By operating its own manufacturing, logistics, and retail networks, Ethan Allen ensures its long-term flexibility and stability while capitalizing on Made in America. 'Rather than conducting our business for the short term, we have always taken the long-term view,' Kathwari stated. 'Throughout our 93-year history, that approach has ensured our continued success' ABOUT ETHAN ALLEN Ethan Allen (NYSE:ETD), named America's #1 Premium Furniture Retailer by Newsweek, is a leading interior design destination combining state-of-the-art technology with personal service. Ethan Allen design centers, which represent a mix of Company-operated and independent licensee locations, offer complimentary interior design service and sell a full range of home furnishings, including custom furniture and artisan-crafted accents for every room in the home. Vertically integrated from product design through logistics, the Company manufactures about 75% of its custom-crafted products in its North American manufacturing facilities and has been recognized for product quality and craftsmanship since 1932. Learn more at and follow Ethan Allen on Facebook, Instagram, and LinkedIn.
Yahoo
09-04-2025
- Business
- Yahoo
Ethan Allen's North American Manufacturing a Competitive Advantage
Ethan Allen's Upholstery Plant in Maiden, NC Ethan Allen Case Goods Plant in Orleans, VT DANBURY, Conn., April 09, 2025 (GLOBE NEWSWIRE) -- In the wake of recent tariffs that have introduced significant challenges to furniture retailers dependent upon global supply chains, Ethan Allen's vertically integrated structure, with manufacturing operations based in North America, provides the company with a competitive advantage. 'We are a vertically integrated enterprise, from manufacturing to logistics to retail. When other furniture companies moved their manufacturing overseas, we chose to stay in North America and today make about 75% of our furniture in these workshops,' said Farooq Kathwari, Chairman, President and CEO of Ethan Allen. 'That decision has enabled us to focus on our longstanding reputation for quality and continue offering products at competitive values while also ensuring consistent, high levels of service to our clients. Making products in our own plants also enables us to offer a wide range of furniture styles, sizes, and customizations, bolstering our reputation as a leading interior design brand.' Founded in Vermont in 1932, Ethan Allen owns and operates U.S. manufacturing plants in Vermont and North Carolina while operating an upholstery plant in Silao, Mexico, and a case goods plant in Choloma, Honduras. Centering its business operations closer to its customer has helped the company become a leading interior design destination while earning recognition for its exceptional quality and service, having twice been named America's #1 Premium Furniture Retailer by Newsweek. Ongoing investments in technology throughout Ethan Allen's North American plants have improved efficiency and advanced precision in certain aspects of manufacturing while maintaining craftsmanship. By operating its own manufacturing, logistics, and retail networks, Ethan Allen ensures its long-term flexibility and stability while capitalizing on Made in America. 'Rather than conducting our business for the short term, we have always taken the long-term view,' Kathwari stated. 'Throughout our 93-year history, that approach has ensured our continued success' ABOUT ETHAN ALLENEthan Allen (NYSE:ETD), named America's #1 Premium Furniture Retailer by Newsweek, is a leading interior design destination combining state-of-the-art technology with personal service. Ethan Allen design centers, which represent a mix of Company-operated and independent licensee locations, offer complimentary interior design service and sell a full range of home furnishings, including custom furniture and artisan-crafted accents for every room in the home. Vertically integrated from product design through logistics, the Company manufactures about 75% of its custom-crafted products in its North American manufacturing facilities and has been recognized for product quality and craftsmanship since 1932. Learn more at and follow Ethan Allen on Facebook, Instagram, and LinkedIn. CONTACT:Catherine Plaisted, Sr. Vice President, Photos accompanying this announcement are available at: in to access your portfolio
Yahoo
13-02-2025
- Business
- Yahoo
Ethan Allen Opens New Toronto Design Studio in Yorkville Village
Ethan Allen Design Studio, Yorkville Village, Toronto DANBURY, Conn., Feb. 13, 2025 (GLOBE NEWSWIRE) -- Ethan Allen, one of the world's top interior design brands and makers of custom furniture, has opened a new Design Studio in Toronto's Yorkville Village shopping mall. The new location, Ethan Allen's third in the Greater Toronto area, offers yet another convenient way for clients to access Ethan Allen's interior design service while creating the opportunity for the company to build relationships with new clients through exposure to shopping mall traffic. Visitors are invited to meet with Ethan Allen's professional interior designers at workstations located throughout the Design Studio or request that a designer visit their homes to make even more personalized recommendations. The new location features a core furniture gallery to offer clients a firsthand view of the quality Ethan Allen offers. A much wider range of styles, products, and customizations can also be displayed using state-of-the-art digital technology, including 3D digital room design previews. Once clients select custom furniture options, most pieces are handcrafted in the company's North American workshops, then brought to the client's home via Premier In-Home Delivery. In addition to advising visitors on furniture purchases, suggesting accents like lighting and rugs, and offering extensive options for customizing furniture, designers can create custom window treatments, and recommend custom artwork, custom linens, and more. Whether at the Design Studio or on site at the client's home, throughout the project, the assistance of an Ethan Allen designer is always complimentary. 'Our vision of classic design from a modern perspective—and modern design from a classic perspective—combined with our blend of personal service and design technology offers clients an exceptional value,' stated Ethan Allen's Chairman, President and CEO, Farooq Kathwari. 'We look forward to strengthening our position as Toronto's interior design destination.' For further details or to connect with a local designer, please visit For more information and Design Center locations, visit the Ethan Allen directory at ABOUT ETHAN ALLENEthan Allen (NYSE:ETD), named America's #1 Premium Furniture Retailer by Newsweek, is a leading interior design destination combining state-of-the-art technology with personal service. Ethan Allen design centers, which represent a mix of Company-operated and independent licensee locations, offer complimentary interior design service and sell a full range of home furnishings, including custom furniture and artisan-crafted accents for every room in the home. Vertically integrated from product design through logistics, the Company manufactures about 75% of its custom-crafted products in its North American manufacturing facilities and has been recognized for product quality and craftsmanship since 1932. Learn more at and follow Ethan Allen on Facebook, Instagram, and LinkedIn. CONTACT:Catherine PlaistedSenior Vice President, A photo accompanying this announcement is available at in to access your portfolio
