1 May 2025 | 10:37PM HKT China Export Tracker Number 2: What corporates are telling us (week of Apr 28, 2025) The China Export Tracker is a research product series put together by the GS China team, focusing on the changing dynamics of China exports to the US, amid the intensified uncertainty around export activity due to the US-China tariff escalation. In this tracker, we present our proprietary work across 48 corporates, with products representing nearly 70% of China export value by product group to the U ...

Ethan Allen Interiors (ETD) Q3 2025 Earnings Call May 05, 2025 05:00 PM ET Company Participants Matt McNulty - Senior VP, Treasurer & CFOFarooq Kathwari - Chairman, President & CEOBrad Thomas - Associate Director of Research Conference Call Participants Cristina Fernández - Managing Director & Senior Equity Research Analyst Operator Good afternoon, and welcome to the Ethan Allen Fiscal twenty twenty five Third Quarter Analyst Conference Call. At this time, all participants are in a listen only mode. A quest ...

Ethan Allen Interiors (ETD) Q3 2025 Earnings Call May 05, 2025 05:00 PM ET Speaker0 Good afternoon, and welcome to the Ethan Allen Fiscal twenty twenty five Third Quarter Analyst Conference Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. Please note this conference is being recorded. It is now my pleasure to introduce your host, Matt McNulty, Senior Vice President, Chief Financial Officer and Treasurer. Thank you. You may beg ...

Core Viewpoint - Ethan Allen Interiors Inc. reported its fiscal 2025 third quarter results, highlighting strong gross margins, positive operating cash flow, and a solid cash position with no debt, despite facing challenges in the housing market and economic uncertainties [2][3][5]. Financial Performance - Consolidated net sales for the quarter were $142.7 million, a decrease from $146.4 million in the prior year [5][7]. - Gross margin was reported at 61.2%, slightly down from 61.3% year-over-year [5][7]. - Adjusted operating income was $11.3 million, with an adjusted operating margin of 8.0%, compared to 10.0% in the previous year [5][7]. - Adjusted diluted EPS was $0.38, down from $0.48 in the prior year [5][7]. Cash Flow and Dividends - The company generated $10.2 million in cash from operations, a decrease from $23.7 million in the prior year [5][9]. - Total cash and investments at the end of the quarter were $183.0 million, with cash dividends paid totaling $10.0 million, reflecting an 8.3% increase from the previous year [5][10][8]. Operational Highlights - The company operates 174 retail design centers in North America, including new locations opened in Middleton, Wisconsin, and Toronto, Canada [12]. - Employee headcount decreased by 35.7% since 2019, now totaling 3,294 [12][4]. - Customer deposits from undelivered written orders increased to $79.3 million, up from $73.5 million at the end of the previous fiscal year [13]. Historical Context - Founded in 1932, Ethan Allen has paid cash dividends totaling $711.3 million and repurchased $625.1 million of its common stock since going public in 1993 [4].

Core Points - KH Group Plc's Board of Directors has established a new performance share plan for key employees of KH-Koneet, replacing the previous plan announced on May 31, 2024, with the goal of aligning shareholder and employee objectives to enhance long-term company value [1] - The performance share plan will cover a two-year performance period from 2025 to 2026, allowing key employees to earn shares based on their performance [2] - Rewards from the plan will be distributed within five months after the performance period ends, consisting of both KH Group shares and cash to cover taxes and social security contributions [3] - The performance criteria for the plan are based on KH-Koneet's EBIT and Return on Invested Capital for the year 2026, targeting approximately 20 key employees, including management members, with a maximum total reward value of approximately 1,094,000 shares [4] - Management members are required to hold 50% of the reward shares until their shareholding equals 50% of their annual base salary from the previous year, while the CEO must hold 50% until their shareholding equals their annual base salary [5] Company Overview - KH Group Plc operates as a Nordic conglomerate in various business areas, including construction and earth-moving equipment, rescue vehicle manufacturing, and furniture retailing, with a strategic objective to create an industrial group centered around KH-Koneet [6]

Company Overview - Purple Innovation, Inc. is recognized for creating the "World's First No Pressure™ Mattress" and is a leader in comfort innovation [1] - The company specializes in premium mattresses featuring the GelFlex® Grid technology, which is designed to enhance restorative sleep and reduce aches and pains [4] Financial Results Announcement - Purple will report its first quarter 2025 financial results on May 6, 2025, at approximately 4:05 p.m. ET [1] - A conference call to discuss these results will take place on the same day at 4:30 p.m. ET [1] Participation Details - Investors and analysts can join the conference call by dialing 800-715-9871 (domestic) or 646-307-1963 (international) using Conference ID 7609054 [2] - A live webcast of the call will also be available on the company's investor relations website [2] Replay Information - A telephone replay of the conference call will be accessible until May 13, 2025, by calling 800-770-2030 and entering the Conference ID [3] - A webcast replay will be available on the investor relations section of the company's website for 30 days following the call [3] Product Availability - Purple's products, including mattresses, pillows, cushions, frames, and sheets, are available online at Purple.com, in 55 Purple stores, and over 3,000 retailers nationwide [4]

Financial Data and Key Metrics Changes - Q1 2025 sales were $181.6 million, a decrease of 1.3% year-over-year, with comparable store sales down 4.8% [3][18] - Gross margins increased to 61.2% from 60.3%, reflecting improved product selection and merchandise mix [4][18] - Pre-tax profits rose to $5.3 million, with an operating margin of 2.9%, compared to $3.2 million and 1.7% in Q1 2024 [4][19] - Net income for Q1 2025 was $3.8 million, or $0.23 per diluted share, compared to $2.4 million, or $0.14 per share in the same quarter last year [19] Business Line Data and Key Metrics Changes - The design business accounted for approximately 33% of total business, with an average ticket of over $3,300, up about 4% [6] - The designer average ticket grew to over $7,400, an increase of over 9% [6] - Weakness was noted in dining and occasional categories, while upholstery, bedroom, and mattress categories performed in line with expectations [6] Market Data and Key Metrics Changes - Written sales were down 2.6% with comparable sales down 6.3% [3] - Sales for Presidents' Day were disappointing, down roughly 10% over the two-week period [5] - Traffic softened but remained positive in the low single digits, with conversion rates stabilizing and showing some improvement compared to last year [5] Company Strategy and Development Direction - The company plans to roll out a new point of purchase and tagging program to enhance the in-store customer experience [7] - The strategy includes increasing inventories of best-selling products to mitigate supply chain disruptions due to tariffs [11][12] - The company aims to open five new stores annually, with a cautious approach based on current market conditions [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed satisfaction with Q1 results despite challenges such as housing market lows, high interest rates, and declining consumer confidence [4][16] - The company is well-positioned to navigate challenges due to its strong brand, debt-free balance sheet, and customer focus [17] - Future guidance includes expectations for gross margins between 60% and 60.5% for 2025, factoring in current tariffs [21][22] Other Important Information - Inventory levels increased by approximately $5 million or about 6% since year-end 2024 [11] - The company has no funded debt and ended Q1 with $111.9 million in cash and cash equivalents [20] - CapEx for Q1 2025 was $6.1 million, with a planned reduction to $24 million for the year due to tariff uncertainties [22] Q&A Session Summary Question: Impact of winter storms on business - Management noted that January was down almost 2% in written business, February down about 5%, and March was flat, with multiple storms impacting operations [26][27][28] Question: Price increases due to tariffs - Management confirmed targeted price increases will be implemented, but they expect minimal impact on consumers due to supplier cooperation [31][32] Question: Changes in competition - Management observed aggressive promotions from competitors but did not believe promotional activity was the primary issue affecting sales [34][35] Question: Reduction in CapEx guidance - Management explained the $3 million reduction in CapEx was due to tariff uncertainties, leading to a cautious approach on store expansion [36][37] Question: Performance of new stores - Management expressed satisfaction with new store performance, noting they leverage existing distribution networks and initial traffic has been good [47][48]

Haverty Furniture Companies (HVT) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Company Participants Richard Hare - EVP & CFOSteven Burdette - President & CEO Conference Call Participants Anthony Lebiedzinski - Senior Equity Research AnalystCristina Fernández - Managing Director & Senior Equity Research Analyst Operator As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Richard Hare, Chief Financial Officer. Thank you, sir. You may begin. Richard Hare Thank you, ...

Core Points - Havertys Furniture is hosting a Military Appreciation Event on May 3 across all 130 showrooms to honor local military families [1][5] - The company is partnering with Tempur-Pedic to donate 78 mattresses to The Joel Fund, a non-profit organization supporting military veterans and their families [3][4] - The event includes exclusive giveaways, refreshments, special financing, and a chance to win a $1,000 gift certificate [2] Company Overview - Havertys, established in 1885, operates 130 showrooms in 17 states, offering a wide selection of home furnishings in middle to upper-middle price ranges [6] - The company has a history of supporting military families, including ongoing military discounts [4] Non-Profit Partnership - The Joel Fund, founded in 2016, aims to reconnect veterans to life at home through community engagement and support programs [7] - The donation of mattresses will directly benefit military families identified by The Joel Fund as in need [3][4]

Financial Data and Key Metrics Changes - In Q1 2025, the company reported net sales of $181.6 million, a decrease of 1.3% compared to the prior year quarter, with comparable store sales down 4.8% [3][17] - Gross profit margin increased by 90 basis points to 61.2% from 60.3% due to product selection and merchandise mix [4][17] - SG&A expenses decreased by $2.2 million or 1.9% to $107.2 million, representing 59% of sales, down from 59.4% in the prior year quarter [18] - Net income for Q1 2025 was $3.8 million or $0.23 per diluted share, compared to $2.4 million or $0.14 per share in the comparable quarter last year [18] Business Line Data and Key Metrics Changes - The design business improved to approximately 33% of total business, with the designer average ticket growing over 9% to over $7,400 [6] - Average ticket rose by approximately 4% to just over $3,300, while written sales were down 2.6% with comps down 6.3% [3][6] Market Data and Key Metrics Changes - The housing market continues to operate at thirty-year lows, influenced by affordability issues, inflated interest rates, and declining consumer confidence [4][16] - Sales for the Presidents' Day event were disappointing, down roughly 10% over the two-week period [5] Company Strategy and Development Direction - The company plans to roll out a new point of purchase and tagging program to enhance the in-store customer experience by Labor Day [7] - The company aims to open five new stores a year but will be cautious based on current conditions, with plans for a third store in Houston and relocating an existing store [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating challenges such as housing affordability, high interest rates, and tariffs, citing a strong brand and debt-free balance sheet [16] - The company anticipates gross margins for 2025 to be between 60% and 60.5%, with fixed and discretionary SG&A expenses expected to increase due to store growth and inflation [21] Other Important Information - The company has halted most direct shipments from China due to tariffs, which could cause temporary supply disruptions [10] - Inventories increased by approximately $5 million or about 6% since year-end 2024, with expectations for further increases in Q2 [11][12] Q&A Session Summary Question: Impact of winter storms on business - Management noted that multiple winter storms impacted business, but did not quantify the exact impact [24][27] Question: Price increases due to tariffs - Management confirmed that targeted price increases will be implemented, but they expect minimal impact on consumers due to supplier support [30][31] Question: Changes in competition - Management observed aggressive promotions from competitors but did not believe it was affecting their promotional activity [33] Question: Reduction in CapEx guidance - The reduction in CapEx guidance was due to tariff uncertainty, prompting a cautious approach to store expansion [35][36] Question: Performance of new stores - Management reported positive performance from new stores, leveraging existing distribution networks, and expressed optimism for future openings [47][49]