Ethan Allen四季度收入下滑、调整后EPS小幅超预期且全年订单下降

- Consolidated gross margin of 63.1%; adjusted gross margin of 59.7%; prior year 59.9%; included in the current year consolidated gross margin was the recovery of $5.0 million in previously paid tariffs imposed under the International Emergency Economic Protection Act (“IEEPA”); these refunds reflect claims made through the U.S. Customs and Border Protection refund system and increased both consolidated gross and operating margin by 340 basis points in the just completed fourth quarter
- Selling, general and administrative (“SG&A”) expenses decreased 4.4% from last year from reduced variable expenses, strong cost control, reduced headcount and lower marketing costs
- Marketing spend totaled $4.7 million or 3.2% of consolidated net sales; prior year 3.4%
- Consolidated operating margin of 9.8%; adjusted consolidated operating margin of 7.4%; adjusted prior year 9.7%; current year operating margin impacted by higher tariffs and fixed cost deleveraging from lower consolidated net sales
- Diluted EPS of $0.46; adjusted diluted EPS of $0.36; adjusted prior year $0.49
- Generated $22.4 million in operating cash flow; prior year $24.8 million
- Paid cash dividends of $10.0 million or $0.39 per share, the same as a year ago
- Repurchased 250,000 shares of Company stock for $4.8 million under the existing share repurchase program; remaining authorization to repurchase 1,757,364 shares of stock pursuant to the program
FISCAL 2026 FULL YEAR HIGHLIGHTS*
- Consolidated net sales of $579.5 million; prior year $614.6 million
- Retail net sales of $511.2 million; prior year $523.1 million
- Wholesale net sales of $330.7 million; prior year $359.1 million
- Written orders
- Retail segment written orders declined 6.1%
- Wholesale segment written orders decreased 11.2%
- Consolidated gross margin of 61.2%; prior year 60.5%
- SG&A expenses, representing 53.3% of sales, decreased 0.4%
- Consolidated operating margin of 7.8%; adjusted operating margin of 8.1%; adjusted prior year 10.2%
- Diluted EPS of $1.56; adjusted diluted EPS of $1.61; adjusted prior year $2.04
- Generated $52.5 million of cash from operating activities; $61.7 million a year ago
- Paid cash dividends totaling $46.3 million during fiscal 2026, including a special cash dividend of $0.25 per share in August 2025
- Invested $11.0 million in capital expenditures; comparable to $11.3 million a year ago
- Ended the fiscal year with $187.5 million in total cash and investments; no outstanding debt
- Inventory levels rose to $148.5 million at June 30, 2026, up 5.4%
- Headcount totaled 3,062 associates at fiscal year-end, down 4.6%
- Four new Company-operated design centers located in Colorado Springs (CO), San Diego (CA), Vancouver (Canada) and Thornhill (Canada) were opened during fiscal 2026 that showcase Ethan Allen home furnishings while combining complimentary interior design services with technology
- Ended the fiscal year with 171 Ethan Allen retail design centers in North America, including 141 Company-operated and 30 independently owned and operated
- New Company-operated design centers to be opened during fiscal 2027 include locations in Victoria Gardens (CA), Aventura (FL), Burlington (VT), Brooklyn (NY) and Naples (FL)
- New tariffs under Section 301 of the Trade Act of 1974 became effective on July 24, 2026, and range between 10% and 12.5%; these tariffs replace the previously issued 10% global tariffs imposed under Section 122, which recently expired