financials

Furniture

Herman Miller Plans Bigger Stores as Geiger Brand Takes Off

Herman Miller CEO Brian Walker said this morning at an earnings briefing that the company is rethinking design with the involvement of their customers. The furniture maker is planning to close some small format stores as leases expire and replace them with larger format stores. The change will translate into a net increase of about 55,000 sq. ft. Herman Miller plans to open six new larger format studios by the end of 2016, the first two planned for next month in Scottsdale, AZ and Berkeley, CA.

Furniture

Fight Brewing For Control of Ethan Allen at Annual Meeting

Ethan Allen Chairman and CEO Farooq Kathwari has responded to a shareholder letter sent August 26 questioning the management of the company. Thomas Sandell, whose group owns 5.5% of Ethan Allen, said "sub-optimal fiscal policies and inefficient allocation of shareholder capital has resulted in the company`s stock trading at a significant discount to its intrinsic value."