Retail Written Order Growth
Retail written orders grew for the second consecutive quarter with a growth of 5.2%, driven by improved order conversion and increased promotional activities.
Strong Financial Position
The company ended the quarter with $193.7 million in cash and no debt, indicating a robust balance sheet.
High Gross Margin
Consolidated gross margin was strong at 61.4%, driven by a change in sales mix, lower raw material costs, and selective price increases.
Focus on Technology and Integration
Ethan Allen emphasized its investment in technology and vertical integration, which includes North American manufacturing that produces 75% of its furniture.
Increased Marketing Investment
National marketing costs increased by 44%, focusing on additional direct mail and paid search and social campaigns.