Herman Miller is the latest furniture maker to flag U.S. tariffs as a cost to its business in the coming year. CFO Jeffrey Stutz has said the company will “offset (higher tariffs) with the planned pricing” increases in January. Stutz also stated tariffs on Chinese furniture exports of 10% will cut earnings by $2 million in the coming quarter, or 4.4% of consensus analysts’ forecasts. Herman Miller relied on China for 57.0% of its seaborne imports in the 12 months to Nov. 30. An 87.5% rise in imports in the three months to Nov. 30 on a year earlier reflects an expectation of – now delayed...
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