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“Never in our history, in fact in world history, has mankind been asked to stay locked up in their homes and businesses asked in mass to close down their operations," noted Ethan Allen Chairman, President and CEO Farooq Kathwari.
During fiscal 2020, the Danbury company plans to open Design Centers in Houston; Lancaster, Pennsylvania; McLean, Virginia; Rancho Mirage, California; and Tyson's Corner, Virginia, as well as several yet-to-be-named international sites.
Hurricanes Harvey and Irma disrupted several key markets in which the Danbury company operates.
“As we enter fiscal 2018 we are well positioned to grow," said Chairman and CEO Farooq Kathwari.
Company Chairman and CEO Farooq Kathwari blamed the results in part on “the uncertain political environment and customer expectations of higher discounting."
Company chief Farooq Kathwari said the company views the new fiscal year with cautious optimism, singling out its branded Disney line due out in the second quarter.