MillerKnoll Cuts Workforce, Plans Price Hikes on Tariff Pressure -- Market Talk

Dow Jones03-26

1826 ET - MillerKnoll's focus on its cost structure helped the furniture retailer weather unpredictable and dynamic macroeconomic conditions amid higher tariffs, CEO Andi Owen says on a call with analysts. But the company is taking another step to protect its financials. MillerKnoll is raising its list prices by 4.5%, effective June 2. It has also reduced the size of its workforce to better align its cost structure to the current demand environment, CFO Jeff Stutz says on the call. Overall in the latest quarter, while MillerKnoll's sales were up slightly, North American contract orders were lower than expected, marked by caution in the current environment. Shares fall 1.9% to $18 in post-market trading. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

March 26, 2025 18:26 ET (22:26 GMT)

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It has also reduced the size of its workforce to better align its cost structure to the current demand environment, CFO Jeff Stutz says on the call. Overall in the latest quarter, while MillerKnoll's sales were up slightly, North American contract orders were lower than expected, marked by caution in the current environment. Shares fall 1.9% to $18 in post-market trading. 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