Welcome to our dedicated page for MillerKnoll news (Ticker: MLKN), a resource for investors and traders seeking the latest updates and insights on MillerKnoll stock.
MillerKnoll, Inc. (NASDAQ: MLKN) is a leading global company specializing in interior furnishings. The company, formed from the merger of Herman Miller and Knoll, is renowned for its innovative designs and high-quality products. MillerKnoll operates through three primary segments: Americas Contract, International Contract & Specialty, and Global Retail. These segments cater to a diverse range of customers including businesses, independent retailers, and direct consumers through various channels such as direct sales, online stores, and catalogs.
MillerKnoll boasts an impressive portfolio of brands which includes Herman Miller, Knoll, Design Within Reach, and Muuto, among others. This collective drives the company’s mission to design the world we live in, with a strong emphasis on sustainability and creating products that endure through generations.
Recently, MillerKnoll has achieved significant milestones. In September 2023, Herman Miller launched an exclusive 100-piece capsule collection of rare vintage pieces in collaboration with Wright, celebrating its 100th anniversary. The first MillerKnoll showroom was also unveiled in Dallas, combining the best of Herman Miller and Knoll brands, showcasing the company's expanded design capabilities. Financially, MillerKnoll has demonstrated resilience amid challenging macroeconomic conditions, maintaining strong gross margin expansions and a solid balance sheet with a liquidity position of $583.1 million as of December 2, 2023.
MillerKnoll continues to focus on strategic growth, digital innovation, and operational efficiency, positioning itself for future growth despite current market challenges. With a dedication to quality, sustainability, and design excellence, MillerKnoll is poised to redefine modern living for the 21st century.
MillerKnoll Inc. (NASDAQ: MLKN) released its third quarter fiscal 2023 results, reporting net sales of $984.7 million, a 4.4% decline year-over-year, although net sales for the nine-month period increased 10.0% to $3.13 billion. Adjusted earnings per share rose by 74.2% to $0.54. Gross margin improved to 35.7%, reflecting effective cost management and integration synergies, with $123 million of run-rate cost synergies captured thus far. Despite a challenging economic environment and a 19.2% drop in orders, the company anticipates fourth quarter net sales between $930 million and $970 million.
On March 21, 2023, Herman Miller announced the reintroduction of iconic Environmental Enrichment Panel graphics by Alexander Girard as home posters. Originally designed for workplace settings in the 1970s, these prints aim to enhance creativity and energy through vibrant colors and geometric patterns. The collection features several notable designs like Bouquet and Eyes, available in framed options starting at $525 USD and unframed at $195 USD. These high-resolution prints are crafted on 100% cotton paper and come framed in American maple. This initiative reinforces Herman Miller's commitment to timeless design and its legacy within the mid-century aesthetic.
MillerKnoll, Inc. (NASDAQ: MLKN) will announce its financial results for Q3 fiscal 2023 on March 22, 2023, after market close. The Company will hold a conference call and webcast that day at 5:30 p.m. ET to discuss the results. Investors can access the call via the Company’s investor relations site or by phone at (800) 715-9871 with conference ID 7825517. A recorded archive will also be available online. MillerKnoll encompasses several well-known brands like Herman Miller and Knoll, aiming to create a sustainable and equitable future.
Herman Miller has unveiled the Passport Work Table, a height-adjustable table designed for both home and office use, emphasizing mobility and adaptability. Available in two sizes, the table requires no power source for height adjustment, promoting easy movement and flexibility. Its compact design allows it to fit in tight spaces while offering sufficient surface area for essential items. The table caters to the growing demand for innovative workspace solutions as hybrid work becomes more prevalent. Prices start at $600, and customization options are available. Passport is part of MillerKnoll (NASDAQ:MLKN) and reflects the company's commitment to innovative design.
MillerKnoll, Inc. (NASDAQ: MLKN) will disclose its financial results for the second quarter of fiscal 2023 on December 21, 2022, after market close. A conference call and webcast to discuss these results is scheduled for the same day at 5:30 p.m. Eastern time. Investors can access the call via the company's investor relations website or by dialing (800) 715-9871 with identification number 9630158. An online archive of the webcast will be available afterward.
Herman Miller and HAY have launched the Herman Miller x HAY Collection, featuring a modern reinterpretation of eight iconic Eames mid-century designs. Unveiled on September 21, 2022, the collection showcases innovative color palettes and materials, reflecting the design philosophies of Rolf and Mette Hay, who admire the Eameses. This collaboration aims to celebrate modern design while being sustainable, utilizing 100% post-industrial recycled plastics and innovative materials. Available globally from September 21, the collection is particularly noted for its vibrant color combinations and unique updates to classic forms.
Herman Miller has announced that its entire Eames Molded Plastic Chair line will now be produced using 100% post-industrial recycled plastic, reducing carbon emissions by 15% annually and saving approximately 122 tons of plastic each year. Alongside this sustainable shift, the company will introduce a refreshed color palette featuring nine new hues in addition to three classic colors. This initiative reflects the brand’s commitment to responsible design and sustainability goals as part of its ongoing efforts to minimize environmental impact.
MillerKnoll, Inc. (NASDAQ: MLKN) is set to release its financial results for the first quarter of fiscal 2023 on September 28, 2022, following the market close. A conference call will follow at 5:30 p.m. Eastern Time for discussion of the results. Participants can access the live webcast via the investor relations website or via telephone by calling (800) 715-9871 with the identification number 1156949. An online archive will be available on their website post-event.
MillerKnoll (NASDAQ: MLKN) has partnered with 3D Cloud by Marxent to launch a code-free system for creating web-based 3D product configurators for furniture e-commerce. This self-service platform will enhance customer experience by allowing real-time customization, accurate pricing, and easy sharing of designs. The initial rollout includes eight iconic chairs, including the Aeron, with millions of configuration options. The collaboration aims to reduce time to market for new configurators by up to 80%, streamlining the process for interior designers and consumers alike.
MillerKnoll reported a 77.1% increase in net sales for Q4 FY2022, reaching $1.10 billion, driven by a 60.1% increase in annual net sales to $3.95 billion. The company achieved 66 million in run-rate cost synergies as it integrates Knoll, aiming for $120 million in synergies by 2025. However, gross margin declined to 34.8% due to rising commodity costs. Operating earnings improved to 5.2% in Q4, while diluted EPS rose to $0.28. The backlog increased by 108.7% to $932.5 million, indicating robust demand.
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