MillerKnoll, Inc. reported a net sales figure of $955.2 million for the three months ended November 29, 2025, reflecting a decrease of 1.6% compared to $970.4 million in the same period last year. For the first half of the fiscal year, net sales increased by 4.3% to $1.91 billion, up from $1.83 billion in the prior year. The company's gross margin for the second quarter was 39.0%, a slight increase from 38.8% in the previous year, attributed to a favorable product mix and price increases that offset cost pressures from tariffs and fixed operational costs.
Operating expenses rose by 2.9% to $323.7 million in the second quarter, driven primarily by costs associated with expanding the retail store footprint and increased compensation expenses. Operating earnings for the quarter were $48.5 million, down 22.4% from $62.5 million a year earlier. The company reported net earnings of $25.2 million, a decline of 28.4% from $35.2 million in the prior year, with diluted earnings per share at $0.35 compared to $0.49.
In terms of strategic developments, MillerKnoll has been focusing on expanding its retail presence, which has contributed to increased operating expenses. The company also reported a significant increase in orders, which totaled $972.5 million for the quarter, up 5.5% year-over-year. The North America Contract segment saw a decrease in net sales to $508.5 million, while the Global Retail segment experienced growth, reporting $275.8 million in sales, an increase of 4.7%.
Operationally, MillerKnoll's total assets as of November 29, 2025, were $3.95 billion, slightly down from $3.95 billion at the end of the previous fiscal year. The company maintained a strong liquidity position with cash and cash equivalents of $180.4 million and available borrowings under its revolving credit facility of $367.9 million. Looking ahead, MillerKnoll anticipates continued challenges from market conditions, including inflation and tariffs, but remains focused on leveraging its brand portfolio and expanding its market presence to drive future growth.
About MILLERKNOLL, INC.
MillerKnoll designs, manufactures, and distributes interior furnishings for residential, office, healthcare, and educational environments. Its brands include Herman Miller, Knoll, and others, offering seating, furniture systems, textiles, and related services globally. The company serves institutional and retail markets through dealer networks, direct sales, and eCommerce, emphasizing innovative design, sustainability, and customer-centric solutions in a competitive industry.
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