MillerKnoll(US:MLKN)2025-03-26 20:10Sales Performance - North America Contract segment net sales for the three months ended August 31, 2024, were $476.2 million, with a gross margin of 36.1%[2] - International Contract segment net sales for the three months ended August 31, 2024, were $146.4 million, with a gross margin of 36.8%[2] - Global Retail segment net sales for the three months ended August 31, 2024, were $238.9 million, with a gross margin of 46.3%[2] - Total net sales for MillerKnoll, Inc. for the three months ended August 31, 2024, were $861.5 million, with a gross margin of 39.0%[2] - North America Contract segment net sales for the twelve months ended June 1, 2024, were $1,922.3 million, with a gross margin of 36.3%[3] - Global Retail segment net sales for the twelve months ended June 1, 2024, were $1,060.5 million, with a gross margin of 46.1%[3] - Total net sales for MillerKnoll, Inc. for the twelve months ended June 1, 2024, were $3,628.4 million, with a gross margin of 39.1%[3] - North America Contract segment net sales reached $519.4 million, with a gross margin of 37.9% for the three months ended September 2, 2023[13] - International Contract segment net sales for the twelve months ended June 3, 2023, were $705.5 million, with a gross margin of 32.6%[14] - Global Retail segment net sales for the twelve months ended June 3, 2023, were $1,252.1 million, with a gross margin of 40.3%[14] - Total net sales for MillerKnoll, Inc. for the twelve months ended June 3, 2023, were $4,087.1 million, with a gross margin of 35.0%[14] Operating Earnings - Operating earnings for MillerKnoll, Inc. for the three months ended August 31, 2024, were $15.2 million, representing 1.8% of net sales[2] - Operating earnings for MillerKnoll, Inc. for the twelve months ended June 1, 2024, were $167.2 million, representing 4.6% of net sales[3] - Adjusted Operating Earnings for the North America Contract segment were $44.9 million, representing 9.4% of net sales for the three months ended August 31, 2024[12] - Adjusted Operating Earnings for the International Contract segment were $13.3 million, representing 9.1% of net sales for the three months ended August 31, 2024[12] - Adjusted Operating Earnings for the Global Retail segment were $7.4 million, representing 3.1% of net sales for the three months ended August 31, 2024[12] - Adjusted Operating Earnings for MillerKnoll, Inc. were $49.9 million, representing 5.8% of total net sales for the three months ended August 31, 2024[12] - Adjusted operating earnings for MillerKnoll, Inc. were $55.4 million, accounting for 6.0% of net sales for the three months ended September 2, 2023[13] - Adjusted operating earnings for the North America Contract segment for the twelve months ended June 3, 2023, were $174.0 million, representing 8.2% of net sales[14] - Adjusted operating earnings for the International Contract segment for the twelve months ended June 3, 2023, were $77.2 million, representing 10.9% of net sales[14] - Adjusted operating earnings for the Global Retail segment for the twelve months ended June 3, 2023, were $60.1 million, representing 4.8% of net sales[14] - Adjusted operating earnings for MillerKnoll, Inc. for the twelve months ended June 3, 2023, were $256.5 million, representing 6.3% of net sales[14] Year-over-Year Changes - North America Contract reported net sales of $476.2 million for the three months ended August 31, 2024, a decline of 8.3% from the prior year[15] - International Contract net sales were $146.4 million for the three months ended August 31, 2024, reflecting a decrease of 3.5% year-over-year[15] - Global Retail net sales reached $238.9 million for the three months ended August 31, 2024, down 3.1% compared to the previous year[15] - MillerKnoll, Inc. reported net sales of $861.5 million for the three months ended August 31, 2024, a decrease of 6.1% from the prior year[16] - North America Contract reported net sales of $519.4 million for the three months ended September 2, 2023, reflecting an 8.0% decline from the prior year[19] - International Contract net sales decreased by 19.4% year-over-year to $151.7 million for the three months ended September 2, 2023[19] - Global Retail net sales were reported at $246.6 million for the three months ended September 2, 2023, a decline of 24.4% compared to the previous year[20] - MillerKnoll, Inc. reported net sales of $917.7 million for the three months ended September 2, 2023, down 14.9% from the prior year[20] Organic Orders - North America Contract organic orders increased by 5.1% year-over-year, totaling $536.5 million for the three months ended August 31, 2024[17] - International Contract organic orders grew by 5.5% year-over-year, amounting to $168.0 million for the three months ended August 31, 2024[17] - Global Retail organic orders were $235.9 million for the three months ended August 31, 2024, reflecting a decline of 1.3% from the prior year[18] - MillerKnoll, Inc. reported organic orders of $940.4 million for the three months ended August 31, 2024, an increase of 3.5% year-over-year[18] - North America Contract organic sales showed a slight decline of 0.6% for the three months ended September 2, 2023, with net sales of $520.0 million[19] - International Contract organic sales decreased by 15.6% year-over-year for the three months ended September 2, 2023, totaling $147.7 million[19] - Global Retail organic sales were reported at $244.6 million for the three months ended September 2, 2023, reflecting a 13.0% decline from the prior year[20] - MillerKnoll, Inc. organic sales decreased by 6.9% year-over-year for the three months ended September 2, 2023, with net sales of $912.3 million[20] Charges and Expenses - Integration charges for the North America Contract segment amounted to $24.8 million for the three months ended August 31, 2024[12] - The company reported a total operating loss of $15.7 million for the Corporate segment for the three months ended August 31, 2024[12] - The total operating expenses for MillerKnoll, Inc. were $317.8 million, representing 34.6% of net sales for the three months ended September 2, 2023[13] - Restructuring charges for the North America Contract segment totaled $4.4 million, or 0.8% of net sales for the three months ended September 2, 2023[13] - The company reported impairment charges of $8.1 million, or 1.8% of net sales for the North America Contract segment for the three months ended June 1, 2024[13] - Restructuring charges for MillerKnoll, Inc. totaled $34.0 million for the twelve months ended June 3, 2023[14] Currency Effects - The currency translation effects had a minor impact, with adjustments of $2.8 million for the three months ended August 31, 2024, and $0.5 million for the six months ended November 30, 2024[16] - Currency translation effects negatively impacted reported orders by $7.3 million for MillerKnoll, Inc. in the three months ended September 2, 2023[22] Other Adjustments - The impact of an extra week in FY23 reduced orders by $20.6 million for the twelve months ended June 1, 2024[22] - Fully and HAY eCommerce adjustments accounted for a total reduction of $75.8 million in orders for the twelve months ended June 3, 2023[22] - Organic orders for the twelve months ended June 3, 2023, were $3,686.8 million, reflecting a decrease from the previous year[22]