Ethan Allen Interiors Inc - ETD STOCK NEWS

Ethan Allen Interiors has been named America's Best Premium Furniture Retailer for the second consecutive year by Newsweek and Statista Inc. The recognition, announced on July 17, 2024, is based on an independent survey of over 7,000 U.S. customers across 40 retail categories.

Customers evaluated retailers on prices, selection, atmosphere, customer service, and accessibility. Ethan Allen's top ranking reflects its commitment to exceptional quality and unique blend of technology and personal service. This achievement coincides with the company's 92nd year in business.

Farooq Kathwari, Ethan Allen's Chairman, President and CEO, attributed this success to the hard work of associates across their vertically integrated enterprise and their position as an interior design destination.

Ethan Allen announced that its financial and operating results for the fiscal 2024 fourth quarter and full year will be released after market close on July 31, 2024. Following the release, a conference call will be held at 5:00 PM ET to discuss these results.

The call will be webcast live on the company's Investor Relations website and will be available for replay for up to six months. Participants in the U.S. can dial 877-705-2976, while international participants can dial 201-689-8798. The meeting number is 13746761.

Ethan Allen will celebrate its annual Ethan Allen Day on June 21, 2024, at its headquarters and across North America. The event, which began in 2016 when Vermont declared June 23 as Ethan Allen Day, honors the company's 92-year heritage and commitment to American manufacturing. Founded in 1932, Ethan Allen produces 75% of its home furnishings in North America, including all upholstery. The celebration will also include partnerships with local charities to collect nonperishable goods for communities in need. Ethan Allen is recognized as America's #1 Premium Furniture Retailer and among America's Top 10 Retailers by Newsweek.

Ethan Allen has announced plans to relocate its Design Centers in Albuquerque, NM, and Watchung, NJ, to new locations by Fall 2024. A temporary site in Albuquerque is operational to ensure continued client service during the transition. Additionally, the Louisville, KY, Design Center has recently moved to The Paddock Shops. These new locations aim to improve visibility and accessibility for existing and new clients.

Each Design Center will feature workstations for clients to consult with professional interior designers, either at the center or in their homes. The centers will showcase a variety of furniture and décor styles, with most custom pieces handcrafted in North America. Services include advising on furniture, lighting, rugs, custom treatments, and providing 3D digital room layouts. All designer assistance is complimentary.

Chairman, President, and CEO Farooq Kathwari emphasized the company's vision of blending classic design with modern technology and maintaining a high reputation for quality and service.

Ethan Allen reported strong financial and operating results for the fiscal 2024 third quarter, with a robust balance sheet, strong cash dividends, and double-digit operating margin. Despite lower demand post-pandemic, the company is pleased with its performance and sees incremental consumer interest returning to home-related products.

Ethan Allen Interiors Inc. announced an 8.3% increase in its regular quarterly cash dividend to $0.39 per share, payable on May 23, 2024. Farooq Kathwari, the Chairman, President, and CEO, highlighted the strong balance sheet enabling this return to shareholders.

Ethan Allen Interiors Inc. (ETD) to release fiscal 2024 third-quarter results on April 24, 2024. Conference call scheduled to discuss financial and operating performance.

Ethan Allen's upholstery manufacturing operations in Silao, Mexico, have been recognized as 'Empresa Socialmente Responsable' for the fifth consecutive year by the Mexican Center for Corporate Philanthropy and the Alliance for Corporate Social Responsibility. This accolade highlights the company's dedication to socially responsible practices and sustainability, setting a benchmark in Latin America's business landscape. The operation in Silao provides various benefits to its associates, including nutritious meals, transportation, and on-site healthcare services.

Ethan Allen Interiors Inc. reported its financial and operating results for the fiscal 2024 second quarter, showing lower sales, strong gross and operating margins, and a robust balance sheet. The company highlighted strong consumer focus on the home, high demand, and major sales increases during the pandemic period. Gross margin increased to 60.2%, cash and investments totaled $167.8 million, and inventory levels are down 11.5%. The company also strengthened its balance sheet, returning $137.9 million to shareholders in cash dividends during the pandemic period.