Ethan Allen stock declines on disappointing outlook [MarketWatch]
Ethan Allen Interiors, Inc (ETH)
Last ethan allen interiors, inc earnings: 2/4 04:05 pm
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Source: MarketWatch
Ethan Allen stock declines on disappointing outlook Ethan Allen Interiors Inc. ETH, +1.31% shares declined in the extended session Monday after the furniture maker's forecast fell below Wall Street estimates. Ethan Allen shares dropped 5.4% after hours, following a 1.3% rise to close the regular session at $17.85. The company forecast adjusted fiscal second-quarter earnings of 25 cents to 27 cents a share on revenue of $175 million. Analysts surveyed by FactSet expect earnings of 40 cents a share on revenue of $181.7 million. "We are pleased with the favorable customer response to the Ethan Allen Member Program, which we launched in October 2019," said Farooq Kathwari, Ethan Allen chairman and chief executive, in a statement. "As we mentioned when we launched the program, we expected sales and operating income to be negatively impacted during the transition period as we move from a promotional to membership model, providing our clients an improved customer experience through everyd
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