MillerKnoll outlines plan to open 12–15 new U.S. stores in FY26 while projecting margin recovery after tariff impacts
Sep. 23, 2025 6:44 PM ETMillerKnoll, Inc. (MLKN) StockAI-Generated Earnings Calls Insights
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Earnings Call Insights: MillerKnoll (MLKN) Q1 2026
Management View
Andrea Owen, President and CEO, highlighted a strong start to fiscal 2026, stating, “Our Q1 results significantly exceeded our expectations.” She announced leadership changes, thanking outgoing Board Chair Mike Volkema and welcoming John Hoke as the incoming
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Quick Insights
Margin is pressured by Q1 tariffs ($8 million impact) and new US store openings. These are expected to weigh on operating margins through Q3, with mitigation strategies planned to offset tariffs in the second half and new store profitability expected later.
Growth was driven by product innovation, increased volume, new product introductions (including 50% more ‘newness’), higher North America contract business, strong office leasing, and expanding retail footprint; pricing, demand, and execution also contributed.
12 to 15 new store openings planned, aiming to double the store footprint over several years. Near-term margin drag is expected to turn accretive to profitability as stores mature, supporting long-term revenue growth and improved margins.
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