ZEELAND, Mich. - Office furniture giant Herman Miller, number 5 on the FDMC 300, has seen more than a 7 percent year-over-year sales increase for the year ending in June - with sales reaching $2.57 billion. Growth was reached in all three segments: North American contract (up 4.8 percent), international contract (up 12.9 percent), and retail (up 10.5 percent).

 

“We were encouraged by broad-based sales and order growth for the quarter, supported by favourable macro-economic conditions and continued traction from our strategic priorities," said CFO Jeff Stutz - commenting particularly on the company's fourth quarter performance.

 

Operating profit for the year was $226.8 million, an improvement of more than 14 percent over the year prior.

 

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“We also further positioned our Retail business for profitable growth with the opening of three new Design Within Reach studios in the fourth quarter, a lease termination related to an underperforming studio and beginning the transition to a new, state-of-the-art distribution centre in Batavia, Ohio. While [these actions] pressured profitability in the quarter, [they] are important enablers for future growth and operating margin expansion of our Retail business.”

Herman Miller expects increased sales through 2020 by 6 percent.