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    MillerKnoll Inc (MLKN)

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    MillerKnoll, Inc. (MLKN) is a global leader in the research, design, manufacture, and distribution of interior furnishings for residential, office, healthcare, and educational environments. The company offers a diverse range of furniture products and accessories, catering to both contract and retail customers through multiple distribution channels, including independent dealers, direct sales, and eCommerce platforms. With a strong portfolio of globally recognized brands, MillerKnoll emphasizes innovative design and functionality to meet the needs of customers worldwide.

    1. Americas Contract - Designs, manufactures, and sells furniture products for office, healthcare, and educational environments across North and South America through an independent dealership network.
    2. International Contract & Specialty - Focuses on the design, manufacture, and sale of furniture products in Europe, the Middle East, Africa, and Asia-Pacific, including Specialty brands such as Holly Hunt, Spinneybeck, Maharam, Edelman, and Knoll Textiles.
    3. Global Retail - Sells modern design furnishings and accessories to third-party retailers and directly to consumers through eCommerce, direct-mail catalogs, and physical retail stores.
    NamePositionExternal RolesShort Bio

    Andi R. Owen

    ExecutiveBoard

    President and CEO

    Board Member at Taylor Morrison Home Corp

    Joined MLKN in 2018 as President and CEO. Previously Global President of Banana Republic at Gap Inc. for 25 years. Expertise in digital transformation and supply chain management.

    View Report →

    B. Ben Watson

    Executive

    Chief Creative and Product Officer

    None

    Elected as an executive officer in 2010. No additional details on achievements provided.

    Christopher M. Baldwin

    Executive

    Group President, MillerKnoll

    None

    Joined MLKN in 2021 after Knoll acquisition. Previously COO & President, Workplace at Knoll. Received retention award for Knoll integration.

    Debbie F. Propst

    Executive

    President, Global Retail

    None

    Joined MLKN in 2020. Previously President and Chief Merchandising Officer of One Kings Lane and Chief Brand Officer at Bed Bath and Beyond.

    Jacqueline H. Rice

    Executive

    General Counsel and Corporate Secretary

    None

    Joined MLKN in 2019. Former EVP, Chief Risk & Compliance Officer at Target Corporation and Senior Counsel at General Motors Co..

    Jeffrey M. Stutz

    Executive

    Chief Financial Officer (CFO)

    None

    CFO since 2009. Oversees financial health and compliance of MLKN. Long tenure with certifications under Sarbanes-Oxley Act.

    John P. Michael

    Executive

    President, Americas Contract

    None

    Joined MLKN in 2017. No additional details on prior roles or achievements provided.

    Megan C. Lyon

    Executive

    Chief Strategy and Technology Officer

    None

    Joined MLKN in 2019 as Chief Strategy Officer. Former Partner and Managing Director at Boston Consulting Group (BCG), leading West Coast Consumer and Retail Practice.

    Douglas D. French

    Board

    Director

    Managing Director, Sant\u00e9 Health Ventures

    Director since 2002. Founding partner of Sant\u00e9 Health Ventures, an early-stage healthcare venture fund.

    Heidi J. Manheimer

    Board

    Director

    Executive Chairperson of Surratt Cosmetics LLC; Board Member at Burton Snowboards

    Director since 2014. Extensive experience in retail and eCommerce. Former Chairwoman of the Cosmetic Executive Women Foundation.

    Jeanne K. Gang

    Board

    Director

    Founding Partner, Studio Gang Architects; Professor in Practice, Harvard GSD

    Appointed to the Board in 2024. Internationally renowned architect and MacArthur Fellow. TIME Magazine's most influential people in the world.

    John Maeda

    Board

    Director

    VP of Engineering, Head of Computational Design for Microsoft's AI Platform

    Appointed to the Board in 2024. Renowned architect and author. Former Board Member at Sonos, Inc..

    John R. Hoke III

    Board

    Director

    Chief Innovation Officer at Nike, Inc.

    Director since 2005. Leads innovation and design at Nike. Former Chief Design Officer at Nike (2017-2023).

    Lisa A. Kro

    Board

    Director

    CFO and Administrative Officer at Ryan Companies; Director at First Solar, Inc.

    Director since 2012. Chair of the Audit Committee. Extensive experience in finance and auditing.

    Michael A. Volkema

    Board

    Chairman of the Board

    None

    Director since 1995 and non-executive Chairman since 2004. Former CEO and President of MLKN (1995-2004). Expertise in corporate leadership and branded marketing.

    Michael C. Smith

    Board

    Director

    Co-Founder and General Partner, Footwork Venture Capital; Director at Ulta Beauty, Inc.

    Director since 2019. Former COO at Walmart.com and Stitch Fix. Expertise in eCommerce and customer experience.

    Tina Edekar Edmundson

    Board

    Director

    President, Luxury at Marriott International, Inc.

    Appointed to the Board in 2024. Over 25 years of experience in luxury hospitality. Former Global Brand Officer at Marriott International.

    1. In the Americas Contract segment, orders came in lower than expected despite prior growth; can you explain the specific factors behind this slowdown and how you plan to address them to meet your demand expectations for the second half of the fiscal year?
    2. With proposed tariffs potentially affecting your supply chain, particularly in China and Canada, what is the anticipated impact on your costs and margins, and what concrete steps are you taking to mitigate these risks?
    3. The Retail segment experienced a decline in net sales and operating margins this quarter; what strategic initiatives are you implementing to reverse this trend and achieve sustained growth and profitability in this segment?
    4. Despite adjusting your full-year earnings guidance downward due to slower order rates, you're expecting a significant acceleration in revenue and margin improvement in the fourth quarter; what evidence supports this confidence, and what are the main risks that could hinder achieving these targets?
    5. Given the ongoing hybrid and remote work trends impacting office furniture demand, how are you adapting your business strategy to address potential long-term changes in workspace needs and ensure continued growth?
    Program DetailsProgram 1
    Approval DateJanuary 16, 2019
    End Date/DurationNo specified expiration
    Total Additional Amount$200 million
    Remaining Authorization$199.4 million (as of November 30, 2024)
    DetailsBalanced capital allocation; opportunistic repurchases; confidence in future performance

    Competitors mentioned in the company's latest 10K filing.

    CompanyDescription

    Haworth

    Competes in the highly competitive furniture manufacturing industry, offering similar categories of products such as office seating, systems, and freestanding furniture. The company competes on design, product and service quality, speed of delivery, and product pricing.

    Operates in the furniture manufacturing sector with significant resources and sales, competing on similar product categories and market factors such as design and pricing.

    A significant competitor in the furniture manufacturing industry, competing on design, quality, delivery speed, and pricing.

    Crate & Barrel Holdings, Inc.

    Competes in the home furnishings industry, targeting end-user customers and the interior design community with high-craft furniture.

    Hive Modern

    Operates in the home furnishings market, competing with a focus on high-craft furniture for end-users and the interior design community.

    A competitor in the home furnishings industry, marketing high-craft furniture to end-user customers and the interior design community.

    Room & Board, Inc.

    Competes in the home furnishings sector, focusing on high-craft furniture for end-users and the interior design community.

    A competitor in the home furnishings industry, offering high-craft furniture to end-user customers and the interior design community.

    Operates in the home furnishings market, competing with high-craft furniture aimed at end-users and the interior design community.

    CustomerRelationshipSegmentDetails

    Largest Single End-User Customer

    Procurement of office furniture solutions

    All

    $180.3 million revenue in fiscal 2024 (5% of net sales)

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Knoll, Inc.

    2021

    The acquisition was completed on July 19, 2021 with a transaction value of approximately $1.8 billion, where each share of Knoll was converted into $11.00 cash plus 0.32 shares of Herman Miller common stock. The deal was strategically aimed at achieving $100 million in cost synergies within two years and included a rebranding to MillerKnoll, Inc., highlighting strong integration prospects.

    Recent press releases and 8-K filings for MLKN.

    MillerKnoll Updates Credit Facilities and Amends Credit Agreement
    MLKN
    Debt Issuance
    M&A
    • MillerKnoll, Inc. (formerly Herman Miller, Inc.) issued an 8-K on April 17, 2025, outlining amendments to its credit agreement, including updates to its revolving and term loan facilities with aggregate commitments of $725 million and $400 million, respectively.
    • The filing details installment schedules for the repayment of Term A loans with specific payment dates and amounts, as part of the revised credit facility terms.
    • It also includes provisions for incremental funding linked to adjusted consolidated EBITDA and outlines key conditions and covenants related to credit events and representations.
    3 days ago
    MillerKnoll Inc Reports Q3 2025 Results and Strategic Re-segmentation
    MLKN
    Earnings
    Guidance Update
    Share Buyback
    • Resegmentation Announcement: The company recast its segment financials from fiscal 2023 onward and now reports in three segments—North America Contract, International Contract, and Global Retail—to better align growth strategies.
    • Q3 Financial Performance: Q3 2025 net sales reached $876M, with adjusted earnings of $0.44 per share, supported by actions such as repurchasing 786,000 shares for $18M, reducing long-term debt by $61M, and ending the quarter with $468M in liquidity.
    • Guidance Amid Tariff Uncertainty: The company provided Q4 guidance with expected net sales of $910-950M, gross margins of 37.5%-38.5%, and adjusted EPS between $0.46-$0.52, addressing ongoing tariff-related cost pressures with a proactive pricing strategy, including a 4.5% list price increase.
    Mar 26, 2025, 9:01 PM
    MillerKnoll Reports Q3 2025 Results
    MLKN
    Earnings
    Guidance Update
    M&A
    • Q3 2025 performance featured solid operating cash flow of $62M and maintained a disciplined capital structure with long-term debt at $1,283M and a net debt to EBITDA ratio of 2.93x.
    • The company reaffirmed its Q4 FY25 and Full Year FY25 guidance, with revenue expected between $910M to $950M in Q4 and $3,618M to $3,658M for FY25, alongside EPS and margin outlook updates.
    • Forward-looking statements noted risks including integration challenges from the Knoll acquisition and ongoing macroeconomic pressures.
    Mar 26, 2025, 9:00 PM
    MillerKnoll Reports Q3 Fiscal 2025 Results
    MLKN
    Earnings
    Share Buyback
    Guidance Update
    • Net sales reached $876.2 million in Q3, showing a modest 0.4% increase year-over-year, with strong contributions from North America Contract and Global Retail ( ).
    • The Global Retail segment delivered robust performance with reported orders up nearly 15% and cyber-adjusted growth of over 4%, reflecting improved demand in North America ( , ).
    • Adjusted earnings per share were slightly down at $0.44 compared to $0.45 last year, as the company maintained disciplined cost control amid challenging macroeconomic conditions ( ).
    • The release also highlighted changes in reporting segments and provided a Q4 and full year fiscal 2025 outlook, including updates on anticipated tariffs and share repurchase activity ( ).
    Mar 26, 2025, 8:05 PM
    MillerKnoll Reports Q3 2025 Results
    MLKN
    Earnings
    Revenue Acceleration/Inflection
    Share Buyback
    • Net sales reached $876.2 million, up 0.4% year-over-year, reflecting steady revenue performance despite macroeconomic challenges.
    • The company implemented a new reporting segment structure—dividing operations into North America Contract, International Contract, and Global Retail—to enhance performance visibility.
    • Global Retail drove strong demand, with North America cyber-adjusted orders increasing by 14%, highlighting robust market performance in that segment.
    • The firm also executed a share repurchase program, buying approximately 0.8 million shares for a total cash outlay of $17.9 million, reinforcing its commitment to shareholder value.
    Mar 26, 2025, 12:00 AM