UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
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Item 7.01 | Regulation FD Disclosure |
On March 18, 2020, Herman Miller, Inc. (the "Company") will disclose the following on its third quarter of fiscal 2020 earnings call, scheduled at 5:00 PM EDT.
As noted in the Company’s earnings release for the third quarter of fiscal 2020, the rapidly changing situation surrounding global mitigation efforts around COVID-19 makes it difficult to estimate the near-term impact on financial results. As such, the Company did not follow its typical practice of offering sales and earnings guidance for the fourth quarter. However, the Company provides the following additional information:
• | The Company enters the fourth quarter with a consolidated backlog of $411 million, which is up approximately 3% from last year. As a general rule, the Company’s backlog typically represents approximately 6 weeks of shipments as the Company heads into a new reporting period. |
• | For the first two weeks of the fourth quarter, the Company’s consolidated sales were up approximately 6% from last year, while new orders were down approximately 3%. |
• | To date, the Company has received minimal requests from customers and dealers to adjust the timing of scheduled shipments - both in the U.S. and abroad - though the Company expects this to increase. However, the Company has not (to date) experienced any meaningful order cancellations and expects to ship the majority of its backlog within the fourth quarter. |
The information in this Item 7.01 shall not be deemed filed for purposes of Section 18 of the Securities Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Dated: | March 18, 2020 | HERMAN MILLER, INC. | ||
(Registrant) | ||||
By: | /s/ Kevin J. Veltman Kevin J. Veltman | |||
Vice President of Investor Relations & Treasurer (Duly Authorized Signatory for Registrant) | ||||