Herman Miller concluded the fourth quarter of the 2020/2021 financial year (29 May) with a turnover increase of 30.6% to US$621.5m. In this context, the company was faced by a further turnover decline of 4.2% to US$264.0m in the North America contract business division. However, the decline was less significant than in previous quarters (Q1: -26.2%, Q2: -28.3%, Q3: -35.1%), during which double-digit rates of decline had been recorded in each case. Herman Miller attributes the decline in North America primarily to restrictions caused by the corona crisis as well as own price increases.
The international contract business division contributed US$181.5m to total turnover. This represents an increase of 58.2%. Turnover of activities consolidated in the retail business division more than doubled to US$176.0m. Herman Miller operates 45 specialised retail studios, including 35 DWR monobrand stores, four Hay stores, five Herman Miller locations and one multi-brand store.
Accumulated over the entire 2020/2021 financial year, at US$2.465bn, turnover was just short of the previous year’s figure (-0.9%). In this context increases of one-third to US$669.0m the international contract business division and of 56.1% to US$602.1m in the retail business division contrasted with a 25% decline to US$1.194bn in the North America contract business division.
