Ethan Allen Updates Comments about Current Business Trends; Presenting at Goldman Sachs' Global Retailing Conference on Septemb
August 30 2006 - 4:40PM
Business Wire
Ethan Allen Interiors Inc. (NYSE: ETH) Chairman and CEO Farooq
Kathwari will be speaking at Goldman Sachs' Global Retailing
Conference on September 7, 2006. In anticipation of being asked to
comment on current business trends, Mr. Kathwari stated, "As
indicated in our July 27th earnings press release, sales did start
slowing in July and have slowed further in August. This quarter we
are being impacted by both lower consumer confidence and our
initiative, started last July, to reduce the lead time in filling
customer orders. As we previously indicated, the faster backlog
turnover reduces the forward visibility of delivered sales, and we
are subject to more volatility as demand levels fluctuate. "We are
pleased that our June 30, 2006 fiscal year ended with record sales
and strong profitability. More importantly, we have continued to
take steps to differentiate Ethan Allen by focusing on providing
decorating solutions. In that regard we have strong product
programs in place; we have strengthened our design professional
staff and retail management; and, we continue to relocate our
Interior Design Centers. In mid September we will have over 800 of
our associates attending our annual Retail Convention at which time
we will be discussing our marketing initiatives for the next year
and also unveiling new product introductions in our newly renovated
Ethan Allen Interior Design Center in Danbury. We will be hosting
an Investor Conference at our Danbury, Connecticut headquarters to
share these exciting initiatives with the investment community on
September 26th. The presentations will be available on our website
at http://ethanallen.com/investors." This press release should be
read in conjunction with the Company's Annual Report on Form 10-K
for the year ended June 30, 2005 and other reports filed with the
Securities and Exchange Commission. This press release and related
discussions contain forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements reflect management's
current expectations concerning future events and results of the
Company, and are subject to various assumptions, risks and
uncertainties. Accordingly, actual future events or results could
differ materially from those contemplated by the forward-looking
statements. The Company assumes no obligation to update or provide
revision to any forward-looking statement at any time for any
reason.
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