Ethan Allen Interiors Inc. (NYSE:ETD) Q4 2023 Earnings Call Transcript

Farooq Kathwari: Yes, it’s a very, very important and good question. I believe you came to the Danbury design center; you saw it. We are in the process right now. We have not completed any as yet completely, but they’re all in the process of getting completed. And I would say the process of getting them completed because it needed products. It needed also the work in each of the design centers, needed painting, some electrical work, and all those kinds of things. That is being done right now. At this phase, we are in the process of updating the interiors and in some cases, the exteriors of our design centers and starting in about, I would say, four to six weeks, they will start getting products, which is being made and getting ready.

So, as I said, within three to four months, most of the design centers would have received the product. And the objective is, which is something that we couldn’t have said that five years back that the interior projection that you saw in Danbury is the projection that we’re going to have nationally in 175 design centers. The other reason that we are able to do it today is that technology has played a tremendously important role. In the past, we had to have the product in the design center or the store for people to see. Today, with our digital technology and virtual reality, our designers can develop and they do develop designs for the consumer with all kinds of colors and design and products. That is a game-changer. So, to answer your question, I think you’ll start seeing it in the next two to three months, the process will start, and our objective is most of them will be completed in about six months.

Cristina Fernández: Great. Thank you.

Farooq Kathwari: All right. Thanks very much. And any other questions or comments?

Operator: Thank you. I see no further questions in the queue. So I’ll hand the call back over to Farooq Kathwari for any closing comments.

Farooq Kathwari: All right. Darryl, thank you, and thank you, everybody, for being on the call. We — these are interesting times, and the good news is that we are very, very well-positioned and we look forward to continuing our progress and our growth. So, thank you very much for participating in this call.

Operator: Thank you. That does conclude today’s teleconference. We appreciate your participation. You may disconnect your lines at this time. Enjoy the rest of your day.