MILAN — MillerKnoll, a leading American furniture maker known for its iconic midcentury modern designs, continues to navigate U.S. President Donald Trump’s trade policy in its fiscal full year 2026. As a result, it’s erring on the side of caution when it comes to guidance.
In the fiscal second quarter which ended Nov. 29, the Zeeland, Mich.-based MillerKnoll — whose portfolio includes American brands Knoll, Herman Miller, Design Within Reach and Holly Hunt, as well as Copenhagen-based Muuto and textile firm Maharam — said revenues slipped 1.6 percent to $955.2 million.
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Earnings per share were down 28.6 percent to 35 cents, as sales in its North American and international contract business slipped 3.1 percent and 6.3 percent year-on-year, respectively, even as orders rose 4.8 percent in North America. The firm said momentum continues to build in North America and internationally as organizations prioritize bringing employees together and refreshing their workspaces. International orders were driven by Europe, the U.K., China and India.
During the period, MillerKnoll was also was impacted by costs related to the new stores, net tariff costs, and foreign currency. The company recently expanded its retail network with a DWR (Design Within Reach) unit in Salt Lake City, and three Herman Miller stores in Nashville, El Segundo, Calif., and Walnut Creek, Calif.
For the third quarter of 2026, the group expects sales to either rise or fall, setting a range of $923 million at the low end and $963 million, which would be an improvement quarter-on-quarter from $955.2 million, as best-case scenario. Adjusted EPS is expected to either fall to 42 cents from 43 cents in the second quarter, or rise to 48 cents. Gross margin is projected to slip to between 37.9 percent and 38.9 percent from 39 percent in the second quarter. Adjusted operating expense is expected to fall to a range from $300 million to $310 million from $323.7 million.
“Turning to our third-quarter guidance, our outlook incorporates the latest information on tariffs and new store investments, as well as the typical seasonal softness in our contract businesses as the calendar year comes to a close and the timing of the Chinese New Year holiday,” the company’s chief financial officer Kevin Veltman said during the conference call on Wednesday.
