Ehtan Allen Opening 15 New Locations

Posted by MCC on April 23rd, 2009 at 11:21pm

In spite of reporting a preliminary loss for the third quarter of $17 to $18 million earlier this month, Ethan Allen recently announced plans to open 15 new locations. The new stores will be both in the U.S. and abroad and be open by the end of the year. Although, their new stores will be somewhat downsized.

Most of the Ethan Allen stores have around 16,000 square feet, but the new ones will range from 3,000 to 6,000 square feet. The company has 290 centers located in North America, the Middle East and Asia which employ around 4,800 people. During 2007, 23 new stores were opened and since July of last year, the company has opened another 13 stores.

Just this past February, 60 jobs were eliminated at the Danbury headquarters and factories in Vermont, North Carolina and Maine lost 190 more jobs. With stocks falling and the sales of home furnishings decreasing the company is hoping to see a profit by choosing the right locations and the right sizes for the new stores.

Under Furniture News