"Where Are the Numbers?" Doug Bergeron Calls on Ethan Allen to Release First Quarter Results Before November 4 Board Vote
Company Has Yet to Announce an Earnings Release Date, Departing from a Decade of Consistent Disclosure Practice
Raises Serious Questions About Board Credibility Following Inaccurate Financial Claims and Mischaracterizations of Mr. Bergeron's Nominees and Plan to Restore Growth
Warns Shareholders Not to Be Fooled by Selective Financial Claims and Repeated Growth Promises That Obscure Two Decades of Decline
PARK CITY, Utah, October 18, 2026--Doug Bergeron, a significant shareholder of Ethan Allen Interiors Inc. ("Ethan Allen" or the "Company") (NYSE: ETD) with beneficial ownership, collectively with his affiliates and associates, of approximately 5.2% of Ethan Allen's outstanding common stock, today called on Ethan Allen to announce when it will release its fiscal first quarter 2027 financial results and to publish those results sufficiently ahead of its 2026 Annual Meeting of Stockholders (the "Annual Meeting") on November 4, 2026.
"Where are the numbers? Shareholders are on the verge of deciding who will oversee Ethan Allen's next chapter, yet the Board of Directors (the "Board") has not told them if, or when, they will see the Company's latest financial results. For each of the past ten years, Ethan Allen announced the release date for its fiscal first quarter results no later than October 18.1 This year, with the Annual Meeting just over two weeks away, shareholders have heard nothing. However, this election is not about a single quarter. After 20 years of deteriorating performance, including four consecutive quarters of fixed-cost deleveraging from declining sales, shareholders should have no reason to trust the Chairman and CEO and the incumbent Board's promises of sustainable growth."
Mr. Bergeron also set the record straight on several willfully misleading and inaccurate representations in the Company's recent investor presentation and proxy materials that further call into question the Board's record and credibility:
Another "positioned for growth" promise without results. In 2015, defending against a proxy contest, the Company told shareholders it was "well positioned to begin an accelerated growth phase."2 Eleven years later, the business is substantially smaller, less profitable and less valuable. Years of design-center "refreshes," expanded assortments, increased advertising and digital initiatives have failed to produce sustained growth, and the 12.8% five-year average operating margin the Company highlights obscures a 7.8% margin in FY2026, less than half the 17.3% reached in FY2023.3 Activity is not achievement, and historical averages cannot disguise the deterioration.