Herman Miller reported fiscal first quarter earnings per share of $1.24, blowing past the earnings of 26 cents per share expected by Wall Street, according to Refinitiv.
The company made $626.8 million in revenue, topping estimates of $524.8 million. Organic sales for Herman Miller grew 13% last quarter.
"This has represented a real opportunity for us and one we're excited about because the distribution of the workforce has been happening for a very long time prior to COVID," Herman Miller CEO and President Andrea Owens said on the earnings call. "We are here to help people sort of revamp the spaces they do have that are office-oriented as well as support the workers that are working from home and now schooling from home.
E-commerce drove a significant portion of Herman's growth in the quarter, with overall web sales and orders up 248% and 257%, respectively, since last year. "Consumers are also investing in their broader home environments, which led to positive year-on-year demand across multiple product categories, notably Upholstery, Outdoor, and Accessories," the earnings release said.
"The office is going home despite what I hear from people with vested interests, who tell us on air, 'don't worry everyone is coming back' ...It's a Herman Miller market and don't panic people," said Cramer.— with reporting from CNBC's Kevin Stankiewicz.for exclusive insights and analysis, and live business day programming from around the world.
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