Herman Miller sees high demand, big increase in sales
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.

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Robert Dalheim

Robert Dalheim is an editor at the Woodworking Network. Along with publishing online news articles, he writes feature stories for the FDMC print publication. He can be reached at [email protected].