Ethan Allen reports increased July sales
“Modest positive trend” continues
-- Kids Today, 8/16/2007 11:56:00 AM
DANBURY, Conn. — Ethan Allen reported increased sales in July in anticipation of investor meetings in upcoming weeks.
“Our retail written sales on a comparable stores basis were modestly up in June and that modest positive trend has continued in July. We remain cautiously aware of the fact that consumer confidence can be impacted by several factors that are beyond our control,” said CEO Farooq Kathwari.
Kathwari said the strong performance was due to initiatives that included repositioning of its retail network, investments in recruiting and training to increase the professionalism of its retail management team, the development of stylish, high quality products at good value, stronger advertising and marketing programs, and faster delivery of products to customers.
On July 24, the company’s board of directors increased the authorization to repurchase shares of the company’s common stock to 2.5 million shares and increased the regular quarterly cash dividend by 10% to 22 cents. From July 1 through Aug. 14 the company has repurchased 1,075,800 shares and has a remaining authorization to purchase 2.1 million shares.
We would love your feedback!
-
Youth furniture: vendors cautious; styles sedated
Mar 16, 2009 -
Kidspace thrives in two locations
Sep 1, 2007
Featured Company
-
Wright Labels
Bill and Tom Wright founded Wright of Thomasville in 1961 on the idea that printing was a creative medium and the belief that "a promise made is a promise kept." The Wright brothers focused their attention on providing exceptional printing for the... more
