— Furniture Today,
\nDANBURY, Conn. \u00e2\u20ac\u201d Ethan Allen is forecasting sales below last year’s level and Wall Street analysts’ estimates for its
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\n first quarter, Chairman and CEO Farooq Kathwari said in a statement today.<\/p>\n
He said the retailer and manufacturer\/importer currently anticipates sales for the quarter ending Sept. 30 in the range of $240 million to $245 million. That compares with $251.3 million in the comparable 2012 quarter, and is below the average estimate of analysts, which Thomson Financial said was $263.8 million.<\/p>\n
\u00e2\u20ac\u0153As previously indicated, sales in recent months have slowed as consumer confidence has remained weak,\u00e2\u20ac\u009d Kathwari said. \u00e2\u20ac\u0153In addition, we find ourselves up against tough comparable results for the prior-year quarter, during which time we experienced a 9% increase in sales and a 15% increase in comparable retail written sales.\u00e2\u20ac\u009d<\/p>\n
He also noted the year-ago quarter was when Ethan Allen launched its initiative to reduce lead times in filling orders.<\/p>\n
\u00e2\u20ac\u0153The faster backlog turnover afforded by this initiative reduces the forward visibility of delivered sales, subjecting our business to more volatility as demand levels fluctuate,\u00e2\u20ac\u009d Kathwari said.<\/p>\n
Ethan Allen will host an investor conference at company headquarters here tomorrow morning starting at 10:15 a.m. Management presentations and a question-and-answer session will be Webcast live on the company\u00e2\u20ac\u2122s site, www.ethanallen.com\/investors.<\/p>\n","protected":false},"excerpt":{"rendered":"
— Furniture Today, DANBURY, Conn. \u00e2\u20ac\u201d Ethan Allen is forecasting sales below last year’s level and Wall Street analysts’ estimates for its<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-2076","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/2076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=2076"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/2076\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=2076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=2076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=2076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}