ZEELAND, Mich. — MillerKnoll’s third quarter net sales showed an increase year-over-year, driving by its North America Contract and Global Retail division.
For the period ended March 1, net sales rose 0.4% to $876.2 million, up from $872.3 million in the third quarter of 2024.
The company said it saw a notable difference in demand in its retail businesses compared with its contract businesses, where overall demand was sluggish due to uncertainty related to tariff policy and other macroeconomic factors.
In the Global Retail segment, reported orders were up nearly 15%, and in the North America segment, cyber-adjusted orders were up 14% for the quarter.
Operating loss margin for the quarter was 9.4% compared with an operating income margin of 4.9% in the same quarter last year. On an adjusted basis, consolidated operating margin for the quarter was 6.6% compared with 6.7% in the same quarter last year.
Reported diluted loss per share was 19 cents for the quarter, down from 30 cents per share in the prior year. Net loss for the period was $12.7 million, compared with net earnings of $22.2 million the year-ago period.
As of March 1, MillerKnoll’s liquidity position reflected cash on hand and availability on our revolving credit facility totaling $468.2 million, with $62.1 million of cash flow generated by the business in the period.
During the third quarter, the company reduced its long-term debt by $60.7 million and ended the quarter with a net debt-to-EBITDA ratio, as defined by our lending agreement, of 2.93x.
See also: MillerKnoll posts first year-over-year sales gain in 7 quarters