While Q4 numbers drop, MillerKnoll shows increases for fiscal 2023

ZEELAND, Mich. — In its fourth quarter/fiscal year earnings report, MillerKnoll cited a number of economic factors as posing difficulties, “particularly for the luxury housing market and discretionary spending on goods,” such as higher interest rates, regional banking crisis and lower consumer confidence.

Net sales for the three months ended June 3 were down 13.1% from the year-ago period, to $956.7 million, faring better for the fiscal year at a 3.6% increase to $4.09 billion.

Gross margin in the quarter was 37.1%, up 230 basis points from the same time last year and mainly driven by the realization of price optimization strategies and benefits from integration synergies.

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