Herman Miller IncBy David F. Carr | Posted 2003-01-17 Print
If it's possible for an office chair to create buzz, Herman Miller's Aeron did. But it's still counting on 3-D technology to juice sales.
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Herman Miller Inc. Base Case
Headquarters: 855 East Main Ave., Zeeland, MI 49464-0302
Phone: (888) 443-4357
Business: Manufacturer of high-end office furniture and related products and services for the workplace
Chief Information Officer: Gary VanSpronsen
Financials: Revenue, $1.47 billion; net loss, $56 million; net loss margin, -3.8% (fiscal year ended June 2, 2002)
Challenge: Lower expenses, improve sales and profitability, and increase inventory-turn rate
- Steadily improve Economic Value Added, an earnings metric that measures how much more valuable a company becomes over time. Herman Miller EVA fell $71 million in fiscal 2002
- Cut operating expenses as a percentage of revenue, from 35.4% in fiscal 2002
- Grow sales 15% per year. In fiscal 2002, Herman Miller sales fell 34% to $1.5 billion
- Increase inventory-turn rate, which stood at 21 days in fiscal 2002
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