Shares of furniture makers are moving up on Thursday after manufacturer Herman Miller (MLHR) reported quarterly adjusted earnings per share of $1.24 on revenue of $626.8M, beating analyst expectations on the top and bottom lines. The company also reestablished its quarterly dividend. Sidoti analyst Gregory Burns raised his price target to $50 on shares as the retail furniture segment has “moved from laggard to leader” amid growth in home offices and increased spending on home improvements, the analyst told investors in a post-earnings recap note. ANNOUNCES STORE FOR HOME OFFICES: “We are excited to reveal our first retail destinations dedicated to offering customers the opportunity to explore the quality and breadth of Herman Miller’s work from home solutions firsthand,” says Debbie Propst, President of Herman Miller Retail. “We are currently seeing unprecedented sales across these categories. The stores are a direct response to our collective need, which has been building over time and heightened by the pandemic, for more versatile home environments and our customer’s desire to test drive these highly-considered products in person.” RETAIL TRENDS IMPROVING FOR INDUSTRY: In advance of investor meetings, Ethan Allen Interiors (ETH) provided several updates on its current business trends earlier this week. Retail segment written orders have continued to accelerate during the period for Ethan Allen Interiors with its written orders reflecting a 10% increase for the two-month quarter-to-date period ending August 31, 2020, including a 26% increase in written orders in the month of August. These numbers also reflect significant growth from its e-commerce business. PRICE ACTION: Shares of Herman Miller are up 33% heading into the close with peers including Steelcase (SCS), La-Z-Boy (LZB), Knoll (KNL) and Havertys (HVT) also seeing gains.