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Furniture firm MillerKnoll reports modest sales growth but faces challenges in its contract business.
Furniture company MillerKnoll reported slightly higher third-quarter sales of $876.2 million, a 0.4% rise year-over-year, but missed revenue expectations.
The company's retail divisions saw increased demand, while its contract business faced slower demand due to tariff uncertainties and economic factors.
Despite a dip in operating margins, MillerKnoll improved its liquidity and reduced long-term debt.
The company also increased its stock rating to "buy" and declared a quarterly dividend.
The office furniture sector faces challenges from changing workplace trends and supply chain issues, but analysts still project 7% revenue growth over the next year.
La empresa de muebles MillerKnoll reporta un modesto crecimiento de ventas, pero se enfrenta a desafíos en su negocio contractual.