Ethan Allen Interiors Inc. (ETD) 2012年年度报告「NYSE」.pdf

1、A N N U A LR E P O R T2012We continued to drive significant improve-ments in all aspects of our vertically integratedbusiness in fiscal 2012,building on the strongmomentum achieved during the prior twoyears.We grew our net sales at an above-market 7.4%and demonstrated the power ofour vertically inte

2、grated business with a morethan 60%improvement in our net income.Market conditions remain challenging,astremendous uncertainties continue to affectthe macroeconomic environment;however,our focus is on our key initiatives.Our aggres-sive investments have positioned us wellfor growth.We invested in ou

3、r product offerings:During fiscal 2012,we completed a majoroverhaul of our product assortment across all5 Signature Lifestyles:Elegance,Explorer,Vintage,Romance,and Modern.Newproducts were introduced,affecting approxi-mately 60%of our projections.To make roomfor the new products,our retail locations

4、 heldsignificantly more clearance events than theytypically would,and this caused some disrup-tion to retail operations.However,thesechanges position us well for the future.Withtheir diversity of style,superior craftsmanship,and exceptional value,our offerings arereaching a larger consumer base.We i

5、nvested in getting our messagesacross:Throughout fiscal 2012,we continuedto convey the“aspirational”value of ourbrand.We also enhanced the importantmessage of the“attainability”of our products.We consistently drive these messages in allof our advertising tools,including direct mailmagazines,national

6、 television commercials,electronic brochures,social media sites,andin-store materials.In June 2012,we launcheda new initiativeEthan Allen Express.Thisprogram expands our reach to a larger demo-graphic both in income and in age.For thisprogram,we selected new and existing prod-ucts that represent goo