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MillerKnoll Inc (MLKN) delivers innovative interior furnishings through its global network of design-forward brands. This news hub provides investors and industry professionals with essential updates shaping the contract furniture and retail design sectors.
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MillerKnoll (NASDAQ: MLKN) reported its fourth quarter and fiscal 2024 results, showing mixed performance. Orders in Q4 increased by 1.1% on a reported basis and 2.9% organically, while gross margin improved by 250 basis points YoY. However, net sales for Q4 were down 7.1% YoY to $888.9 million, and full-year net sales decreased by 11.2% to $3.6 billion. Despite these declines, the company achieved annualized cost synergies of $160 million through integrating Knoll and improved EPS metrics, with GAAP EPS up 101.8% for the year.
The company's Q4 operating margin increased to 2.7%, and adjusted diluted EPS grew 63.4% to $0.67. For the entire fiscal year, adjusted diluted EPS rose 12.4% to $2.08. The company is optimistic for fiscal 2025, expecting a sales increase and adjusted diluted EPS between $2.10 and $2.30. Investments in showrooms and digital platforms aim to boost the business amid challenging retail conditions.
MillerKnoll (NASDAQ: MLKN) will release its Q4 and full fiscal year 2024 financial results on June 26, 2024, after market close. The company will host a conference call and webcast at 5:00 p.m. ET to discuss the results. Investors can access the live webcast on MillerKnoll's investor relations website or via telephone at (888) 596-4144 using the conference ID 6789541. An online archive of the webcast will be available later on the same website. Additional supporting materials will also be provided on the investor relations page.
MillerKnoll (NASDAQ:MLKN) will showcase its collective of brands during the Fulton Market Design Days from June 10-12, 2024, in Chicago. The event features over 70,000 square feet of showroom space, focusing on sustainability, innovation, and new product launches. Key highlights include Herman Miller's Bay Work Pod, Geiger's luxurious office solutions, Maharam's new textiles, and Muuto's exploration of neuroaesthetics. The event aims to engage the global contract, architecture, and design communities with dynamic programming and exhibits, showcasing MillerKnoll's commitment to creating impactful environments.
The Fulton Market Design District in Chicago is gearing up for its flagship Design Days events from June 10-12, featuring over 35 iconic design brands. The event will include product launches, exhibits, and various activities to welcome design professionals and enthusiasts. With last year's success, this year's event aims to enhance the experience for visitors, offering pop-ups, giveaways, and a central Welcome Center for networking and coordination. The neighborhood continues to grow, with new brands and spaces opening up, making it a top destination for design and socialization.
