MillerKnoll, Inc. reported financial results for the first quarter of fiscal year 2027, which ended on August 29, 2026. The company reported net sales of $923.4 million for the quarter, a decrease of 3.4% compared to the same period in the prior year. Despite the sales decline, the company noted that orders increased by 3.2% year-over-year to $913.9 million.
Adjusted earnings per share for the quarter were $0.53, an increase of 17.8% compared to $0.45 in the prior year. This performance was partially driven by a $10 million net increase in operating income related to refunds from the U.S. government for previously paid tariffs under the IEEPA program. This tariff benefit resulted in a net per share benefit of $0.11 and improved operating margins by 110 basis points.
On a segment basis, North America Contract sales were $505.6 million, down 5.3% year-over-year. International Contract sales were $156.8 million, down 6.4% year-over-year. Conversely, Global Retail sales increased to $261.0 million, up 2.6% year-over-year. The company opened four new retail stores during the quarter, including a DWR store in Raleigh, NC, and Herman Miller stores in Columbus, OH, St. Louis, MO, and San Antonio, TX.
MillerKnoll provided guidance for the second quarter of fiscal 2027, projecting net sales between $972 million and $1.012 billion. For the full fiscal year 2027, the company expects net sales to be between $3.88 billion and $4.03 billion. The company also declared a quarterly cash dividend of $0.1875 per share, payable on October 15, 2026, to shareholders of record on August 29, 2026.
