MillerKnoll projects fiscal 2027 net sales of $3.93 billion to $4.13 billion and adjusted earnings per share of $1.85 to $2.15, as it plans to open 9 to 11 smaller-format Herman Miller stores and 5 to 7 Design Within Reach stores. Incoming Interim CEO Jeff Stutz said fiscal 2027 priorities are operating discipline, cost discipline, and reducing debt, while CFO Kevin Veltman noted first-quarter net sales guidance of $928 million to $968 million and adjusted EPS of $0.33 to $0.39. The company reported fourth-quarter net sales of $1 billion, up 4.4% year over year, with adjusted EPS of $0.55 at the top end of guidance, and full-year net sales topped $3.8 billion with adjusted EPS of $1.86. Management highlighted a restructuring at Holly Hunt to align costs with demand and strengthen leadership, and expects incremental new store expense of about $6 million per quarter and $25 million in higher incentive compensation costs for fiscal 2027.
MillerKnoll IncCompany projects fiscal 2027 net sales and EPS growth, with Q4 results at top end of guidance.
Plans to open 5-7 Design Within Reach stores, indicating expansion and demand.
Restructuring at Holly Hunt to align costs with demand, implying weak demand.