Ethan Allen Interiors (ETD) 10-Q 4 Feb 20 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Dec. 31, 2019	Jan. 23, 2020
Document Information [Line Items]
Entity Registrant Name	ETHAN ALLEN INTERIORS INC
Entity Central Index Key	0000896156
Trading Symbol	eth
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		25,929,436
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Title of 12(b) Security	Common Stock $0.01 par value per share
Entity Interactive Data Current	Yes

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
ASSETS
Cash and cash equivalents	$ 28,306	$ 20,824
Accounts receivable, net	13,139	14,247
Inventories, net	138,997	162,389
Prepaid expenses and other current assets	18,998	18,830
Total current assets	199,440	216,290
Property, plant and equipment, net	245,271	245,246
Goodwill	25,388	25,388
Intangible assets	19,740	19,740
Operating lease right-of-use assets	128,525
Deferred income taxes	2,082	2,108
Other assets	1,481	1,579
Total assets	621,927	510,351
Current liabilities:
Accounts payable and accrued expenses	27,256	35,485
Customer deposits and deferred revenue	47,506	56,714
Accrued compensation and benefits	19,184	21,327
Short-term debt		550
Current operating lease liabilities	32,809
Other current liabilities	10,687	8,750
Total current liabilities	137,442	122,826
Long-term debt		516
Operating lease liabilities, long-term	117,857
Deferred income taxes	648	1,069
Other long-term liabilities	3,155	22,011
Total liabilities	259,102	146,422
Commitments and contingencies (see Note 14)
Shareholders' equity:
Preferred stock, $0.01 par value; 1,055 shares authorized; none issued
Common stock, $0.01 par value, 150,000 shares authorized, 49,054 and 49,049 shares issued; 26,046 and 26,587 shares outstanding at December 31, 2019 and June 30, 2019, respectively	491	491
Additional paid-in capital	378,089	377,913
Treasury stock, at cost: 23,008 and 22,462 shares at December 31, 2019 and June 30, 2019, respectively	(666,626)	(656,597)
Retained earnings	656,211	647,710
Accumulated other comprehensive loss	(5,377)	(5,651)
Total Ethan Allen Interiors Inc. shareholders' equity	362,788	363,866
Noncontrolling interests	37	63
Total shareholders' equity	362,825	363,929
Total liabilities and shareholders' equity	$ 621,927	$ 510,351

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares shares in Thousands	Dec. 31, 2019	Jun. 30, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,055	1,055
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000	150,000
Common stock, shares issues (in shares)	49,054	49,049
Common stock, shares outstanding (in shares)	26,046	26,587
Treasury stock, shares (in shares)	23,008	22,462

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Net sales	$ 174,574	$ 197,152	$ 348,495	$ 384,937
Cost of sales	77,053	88,292	157,180	174,627
Gross profit	97,521	108,860	191,315	210,310
Selling, general and administrative expenses	88,495	92,732	174,505	182,383
Restructuring and impairment charges (gains)	(178)		(11,035)
Operating income	9,204	16,128	27,845	27,927
Interest income, net of interest (expense)	63	152	82	125
Income before income taxes	9,267	16,280	27,927	28,052
Provision for income taxes	2,181	4,090	6,735	7,022
Net income	$ 7,086	$ 12,190	$ 21,192	$ 21,030
Basic earnings per common share:
Net income per basic share (in dollars per share)	$ 0.27	$ 0.46	$ 0.80	$ 0.79
Basic weighted average common shares (in shares)	26,580	26,574	26,646	26,556
Diluted earnings per common share:
Net income per diluted share (in dollars per share)	$ 0.27	$ 0.45	$ 0.79	$ 0.78
Diluted weighted average common shares (in shares)	26,612	26,923	26,681	26,932
Comprehensive income
Net income	$ 7,086	$ 12,190	$ 21,192	$ 21,030
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments	773	(1,195)	274	52
Other	(19)	(19)	(26)	(45)
Other comprehensive income (loss) net of tax	754	(1,214)	248	7
Comprehensive income	$ 7,840	$ 10,976	$ 21,440	$ 21,037

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities
Net income	$ 21,192	$ 21,030
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,430	9,925
Shared-based compensation expense	123	807
Non-cash operating lease cost	16,191
Deferred income taxes	153	(79)
Restructuring and impairment charges (gains)	(6,503)
Restructuring payments	(5,021)
Loss on disposal of property, plant and equipment	163	43
Other	136	(16)
Change in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable, net	973	3,130
Inventories, net	21,303	3,838
Prepaid expenses and other current assets	226	719
Customer deposits and deferred revenue	(9,746)	(7,006)
Accounts payable and accrued expenses	(8,342)	(3,420)
Accrued compensation and benefits	(475)	2,312
Operating lease liabilities	(16,037)
Other assets and liabilities	622	192
Net cash provided by operating activities	23,388	31,475
Cash Flows from Investing Activities
Proceeds from disposal of property, plant and equipment	12,423	1
Capital expenditures	(7,987)	(4,954)
Acquisitions, net of cash acquired	(1,281)
Other investing activities	20	94
Net cash provided by (used in) investing activities	3,175	(4,859)
Cash Flows from Financing Activities
Payments on debt and finance lease liabilities	(278)	(310)
Payment of cash dividends	(10,685)	(10,137)
Repurchases of common stock	(8,163)
Other financing activities	53	274
Net cash used in financing activities	(19,073)	(10,173)
Effect of exchange rate changes on cash and cash equivalents	(8)	(43)
Net increase in cash and cash equivalents	7,482	16,400
Cash and cash equivalents at beginning of period	20,824	22,363
Cash and cash equivalents at end of period	$ 28,306	$ 38,763

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Jun. 30, 2018	48,989		22,460
Balance at Jun. 30, 2018	$ 490	$ 376,950	$ (656,551)	$ (6,171)	$ 669,013	$ 139	$ 383,870
Net income					8,840		8,840
Common stock issued on share-based awards (in shares)	40
Common stock issued on share-based awards		637					637
Share-based compensation expense		491					491
Cash dividends declared					(5,072)		(5,072)
Other comprehensive income (loss)			$ 1,247			(26)	1,221
Balance (in shares) at Sep. 30, 2018	49,029		22,460
Balance at Sep. 30, 2018	$ 490	378,078	$ (656,551)	(4,924)	672,781	113	389,987
Balance (in shares) at Jun. 30, 2018	48,989		22,460
Balance at Jun. 30, 2018	$ 490	376,950	$ (656,551)	(6,171)	669,013	139	383,870
Net income							21,030
Other comprehensive income (loss)							7
Balance (in shares) at Dec. 31, 2018	49,038		22,460
Balance at Dec. 31, 2018	$ 490	378,558	$ (656,551)	(6,119)	653,193	94	369,665
Balance (in shares) at Sep. 30, 2018	49,029		22,460
Balance at Sep. 30, 2018	$ 490	378,078	$ (656,551)	(4,924)	672,781	113	389,987
Net income					12,190		12,190
Common stock issued on share-based awards (in shares)	9
Common stock issued on share-based awards		164					164
Share-based compensation expense		316					316
Cash dividends declared					(31,778)		(31,778)
Other comprehensive income (loss)				(1,195)		(19)	(1,214)
Balance (in shares) at Dec. 31, 2018	49,038		22,460
Balance at Dec. 31, 2018	$ 490	378,558	$ (656,551)	(6,119)	653,193	94	369,665
Balance (in shares) at Jun. 30, 2019	49,049		22,462
Balance at Jun. 30, 2019	$ 491	377,913	$ (656,597)	(5,651)	647,710	63	363,929
Net income					14,106		14,106
Common stock issued on share-based awards (in shares)	1
Common stock issued on share-based awards		18					18
Share-based compensation expense		151					151
Impact of ASU 2016-02 adoption, net of tax					(1,585)		(1,585)
Cash dividends declared					(5,610)		(5,610)
Other comprehensive income (loss)				(499)		(7)	(506)
Balance (in shares) at Sep. 30, 2019	49,050		22,462
Balance at Sep. 30, 2019	$ 491	378,082	$ (656,597)	(6,150)	654,621	56	370,503
Balance (in shares) at Jun. 30, 2019	49,049		22,462
Balance at Jun. 30, 2019	$ 491	377,913	$ (656,597)	(5,651)	647,710	63	363,929
Net income							21,192
Other comprehensive income (loss)							248
Balance (in shares) at Dec. 31, 2019	49,054		23,008
Balance at Dec. 31, 2019	$ 491	378,089	$ (666,626)	(5,377)	656,211	37	362,825
Balance (in shares) at Sep. 30, 2019	49,050		22,462
Balance at Sep. 30, 2019	$ 491	378,082	$ (656,597)	(6,150)	654,621	56	370,503
Net income					7,086		7,086
Common stock issued on share-based awards (in shares)	4
Common stock issued on share-based awards		35					35
Cash dividends declared					(5,496)		(5,496)
Other comprehensive income (loss)				773		(19)	754
Share-based compensation expense		28					28
Repurchase of common stock (in shares)			546
Repurchase of common stock			$ (10,029)				(10,029)
Balance (in shares) at Dec. 31, 2019	49,054		23,008
Balance at Dec. 31, 2019	$ 491	$ 378,089	$ (666,626)	$ (5,377)	$ 656,211	$ 37	$ 362,825

Note 1 - Organization and Natur

Note 1 - Organization and Nature of Business	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Nature of Operations [Text Block]	( 1 Organization and Nature of Business Founded in 1932 1989, 300 nine six two one

Note 2 - Interim Basis of Prese

Note 2 - Interim Basis of Presentation	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	( 2 Interim Basis of Presentation Use of Estimates. not Principles of Consolidation. two two three six December 31, 2019 not may 2019 10 “2019 10 Reclassifications. not

Note 3 - Recent Accounting Pron

Note 3 - Recent Accounting Pronouncements	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	( 3 Recent Accounting Pronouncements New Accounting Standards or Updates Recently Adopted Leases February 2016, 2016 02, Leases (Topic 842 2016 02 December 15, 2018, July 2018, We adopted ASU 2016 02 July 1, 2019 not not not not not not July 1, 2019. 12 Upon adoption we recognized operating lease assets of $129.7 $149.7 $20.0 June 30, 2019, July 1, 2019, $1.6 not 6 2016 02. Recent Accounting Standards or Updates Not Credit Losses of Financial Instruments June 2016, 2016 13, Financial Instruments – Credit Losses (Topic 326 , first 2021 not Goodwill Impairment Test January 2017, 2017 04, Intangibles-Goodwill and Other (Topic 350 : Simplifying the Test for Goodwill Impairment, 2 not first 2021 not Implementation Costs in a Cloud Computing Arrangement – August 2018, 2018 15, Intangibles-Goodwill and Other – Internal-Use Software (Subtopic 350 40 ): C ustomer’s Accounting for Implementation Costs Incurred in a C loud Computing Arrangement That is a Ser vice Contract first 2021, not Simplifying the Accounting for Income Taxes – December 2019, 2019 12, Income Taxes (Topic 740 740 first 2022, not No December 31, 2019

Note 4 - Revenue Recognition

Note 4 - Revenue Recognition	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	( 4 Revenue Recognition Our reported revenue (net sales) consist substantially of product sales. We report product sales net of discounts and recognize them at the point in time when control transfers to the customer. For sales to our customers in our wholesale segment, control typically transfers when the product is shipped. For sales in our retail segment, control generally transfers upon delivery to the customer. We recognize shipping and handling expense as fulfillment activities (rather than as a promised good or service) when the activities are performed even if those activities are performed after the control of the good has been transferred. Accordingly, we record the expenses for shipping and handling activities at the same time we recognize net sales. We exclude from the measurement of the transaction price all taxes imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer, including sales, use, excise, value-added, and franchise taxes (collectively referred to as sales taxes). We do not one Estimated refunds for sales returns and allowances are based on our historical return patterns. We record these estimated refunds on a gross basis rather than on a net basis and have recorded an asset for product we expect to receive back from customers in Prepaid expenses and other current assets Other current liabilitie s December 31, 2019 June 30, 2019, In many cases we receive deposits from customers before we have transferred control of our product to our customers, resulting in contract liabilities. These customer deposits are reported as a current liability in Customer deposits and d eferred r evenue June 30, 2019 $56.7 $7.0 $53.6 three six December 31, 2019. $45.9 December 31, 2019. During October 2019 $100 one Customer d eposits and d eferred r evenue Net s ales The following table disaggregates net sales by product category by segment for the three December 31, 2019 ( Wholesale Retail Total Upholstery (1) $ 44,329 $ 63,696 $ 108,025 Case goods (2) 31,797 39,883 71,680 Accents (3) 16,170 30,247 46,417 Other (4) (407 ) 5,275 4,868 Total before intercompany eliminations $ 91,889 $ 139,101 230,990 Intercompany eliminations (5) (56,416 ) Consolidated net sales $ 174,574 The following table disaggregates net sales by product category by segment for the six December 31, 2019 ( Wholesale Retail Total Upholstery (1) $ 94,349 $ 126,932 $ 221,281 Case goods (2) 65,826 78,643 144,469 Accents (3) 34,167 60,229 94,396 Other (4) (1,124 ) 10,563 9,439 Total before intercompany eliminations $ 193,218 $ 276,367 469,585 Intercompany eliminations (5) (121,090 ) Consolidated net sales $ 348,495 ( 1 Upholstery furniture includes fabric-covered items such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics and leather. ( 2 Case goods furniture includes items such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents. ( 3 Accents includes items such as window treatments and drapery hardware, wall décor, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings and home and garden furnishings. ( 4 Other includes membership revenue, product delivery sales, the Ethan Allen Hotel room rentals and banquets, sales of third ( 5 Represents the elimination of all intercompany wholesale segment sales to the retail segment during the period presented.

Note 5 - Inventories

Note 5 - Inventories	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	( 5 Inventories Inventories are stated at the lower of cost (on first first Inventories at December 31, 2019 June 30, 2019 December 31, June 30, 2019 2019 Finished goods $ 107,105 $ 128,047 Work in process 8,975 9,185 Raw materials 24,395 26,661 Inventory reserves (1,478 ) (1,504 ) Inventories, net $ 138,997 $ 162,389

Note 6 - Leases

Note 6 - Leases	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Lessee, Leases [Text Block]	( 6 Leases During the first 2020, 2016 02 Lease Accounting Policy We have operating leases for many of our design centers that expire at various dates through fiscal 2040. three five Lease right-of-use assets represent the right to use an underlying asset pursuant to the lease for the lease term, and lease liabilities represent the obligation to make lease payments arising from the lease. Lease right-of-use assets and lease liabilities are recognized at the commencement of an arrangement where it is determined at inception that a lease exists. These assets and liabilities are initially recognized based on the present value of lease payments over the lease term calculated using our incremental borrowing rate generally applicable to the location of the lease right-of-use asset, unless an implicit rate is readily determinable. We combine lease and certain non-lease components for our design center real estate leases in determining the lease payments subject to the initial present value calculation. Lease right-of-use assets include upfront lease payments and exclude lease incentives, where applicable. Lease terms include options to extend or terminate the lease when it is reasonably certain that those options will be exercised. Lease expense for operating leases consists of both fixed and variable components. Expense related to fixed lease payments are recognized on a straight-line basis over the lease term. Variable lease payments are generally expensed as incurred, where applicable, and include certain index-based changes in rent, certain non-lease components, such as maintenance and other services provided by the lessor, and other charges included in the lease. Leases with an initial term of twelve not not We have elected the short-term lease exemption, whereby leases with initial terms of one not Key Estimates and Judgments Key estimates and judgments in applying ASU 2016 02 ASC 842 not may not not July 1, 2019 not The Company's lease terms and discount rates are as follows: December 31, 2019 Weighted-average remaining lease term (in years) Operating leases 6.7 Financing leases 1.9 Weighted-average discount rate Operating leases 3.7 % Financing leases 4.4 % The following table discloses the location and amount of our operating and financing lease costs within our consolidated statements of comprehensive income (in thousands): Statement of Comprehensive Income Location Three months ended December 31, 2019 Six months ended December 31, 2019 Operating lease cost Selling, general and administrative (“SG&A”) $ 8,169 $ 16,191 Financing lease cost: Depreciation of property SG&A 146 293 Interest on lease liabilities Interest income, net of interest (expense) 8 17 Short-term lease cost SG&A 355 742 Variable lease cost (1) SG&A 2,373 4,836 Less: Sublease income SG&A (596 ) (1,102 ) Total lease expense $ 10,455 $ 20,977 ( 1 Variable lease payments include index-based changes in rent, maintenance, real estate taxes, insurance and other charges included in the lease. Operating lease rent expense during the three December 31, 2018, $8.0 $0.5 six December 31, 2018, $16.0 $1.0 The following table discloses the operating and financing lease assets and liabilities recognized within our consolidated balance sheet as of December 31, 2019 ( Consolidated Balance Sheet Location December 31, 2019 Assets Operating leases Operating lease right-of-use assets (non-current) $ 128,525 Financing leases Property, plant and equipment, net 891 Total lease assets $ 129,416 Liabilities Current: Operating leases Current operating lease liabilities $ 32,809 Financing leases Other current liabilities 597 Noncurrent: Operating leases Operating lease liabilities, long-term 117,857 Financing leases Other long-term liabilities 278 Total lease liabilities $ 151,541 The ROU assets by segment are as follows as of December 31, 2019 ( Retail $ 128,587 Wholesale 829 Total ROU assets $ 129,416 The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under noncancelable leases with terms of more than one December 31, 2019 ( Fiscal Year Operating Leases Financing Leases 2020 (remaining six months) $ 17,788 $ 303 2021 33,224 459 2022 28,909 78 2023 22,487 39 2024 17,397 19 Thereafter 52,636 8 Total undiscounted future minimum lease payments 172,441 906 Less: imputed interest (21,775 ) (31 ) Total present value of lease obligations $ 150,666 $ 875 As of December 31, 2019, not not third 2020. five ten $6.3 At December 31, 2019, not not Other information for our leases is as follows (in thousands): Six months ended December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 16,037 Operating cash flows from financing leases $ 278 Operating lease assets obtained in exchange for new operating lease liabilities $ 13,641 At the beginning of fiscal 2020, 2016 02, June 30, 2019, Fiscal Year Operating Leases Financing Leases (1) 2020 $ 33,761 $ 550 2021 30,534 437 2022 26,443 60 2023 20,276 19 2024 15,345 - Thereafter 43,500 - Total $ 169,859 $ 1,066 ( 1 As of June 30, 2019, $1.1

Note 7 - Income Taxes

Note 7 - Income Taxes	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Income Tax Disclosure [Text Block]	( 7 Income Taxes The Company reviews its expected annual effective income tax rates and makes changes on a quarterly basis as necessary based on certain factors such as changes in forecasted annual operating income; changes to actual or forecasted permanent book to tax differences; impacts from future tax audits with state, federal or foreign tax authorities; impacts from tax law changes; or change in judgment as to the realizability of deferred tax assets. The Company identifies items which are non-recurring in nature and treats these as discrete events. The tax effect of such items is recorded in the quarter in which the related events occur. Due to the volatility of these factors, the Company's consolidated effective income tax rate can change significantly quarter over quarter. The Company conducts business globally and, as a result, the Company and its subsidiaries files income tax returns in the United States and in various state and foreign jurisdictions. In the normal course of business, the Company is subject to periodic examination in such domestic and foreign jurisdictions by tax authorities. The Company and certain subsidiaries are currently under audit in the United States for fiscal 2015 2018. may twelve not may twelve twelve The Company is subject to a United States federal statutory tax rate of 21% June 30, 2020 2019, 23.5% 24.1% three six December 31, 2019 25.1% 25.0%

Note 8 - Debt

Note 8 - Debt	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	( 8 Debt Total debt obligations at December 31, 2019 June 30, 2019 December 31, June 30, 2019 2019 Borrowings under revolving credit facility $ - $ - Capital leases (1) - 1,066 Total debt - 1,066 Less current maturities - 550 Total long-term debt $ - $ 516 ( 1 Capital leases were previously reported as debt as of June 30, 2019. 6 Revolving Credit Facility On December 21, 2018, October 21, 2014, $165 December 21, 2023. $0.6 At the Company’s option, revolving loans under the Facility bear interest, based on the average availability, at an annual rate of either (a) the London Interbank Offered rate (“LIBOR”) plus 1.5% 2.0%, 0.5%, 1.0% 0.5% 1.0%. The availability of credit at any given time under the Facility will be constrained by the terms and conditions of the Facility, including the amount of collateral available, a borrowing base formula based upon numerous factors, including the value of eligible inventory and eligible accounts receivable, and other restrictions contained in the Facility. All obligations under the Facility are secured by assets of the Loan Parties, including inventory, receivables and certain types of intellectual property. Borrowings under the Facility As of December 31, 2019, no Debt Obligations As of December 31, 2019, no six December 31, 2019 2018 Covenants and Other Ratios The Facility contains various restrictive and affirmative covenants, including required financial reporting, limitations on the ability to grant liens, make loans or other investments, incur additional debt, issue additional equity, merge or consolidate with or into another person, sell assets, pay dividends or make other distributions or enter into transactions with affiliates, along with other restrictions and limitations similar to those frequently found in credit agreements of this type and size. Loans under the Facility may The Facility does not $18.5 1.0 twelve At December 31, 2019 June 30, 2019, $5.8 $6.1 $126.4 December 31, 2019 $158.9 June 30, 2019. December 31, 2019 June 30, 2019,

Note 9 - Restructuring and Impa

Note 9 - Restructuring and Impairment Activities	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	( 9 Restructuring and Impairment Activities Optimization of Manufacturing and Logistics During the fourth 2019, June 30, 2019, During the first 2020, 2020 $1.8 $1.3 $0.7 $0.4 $0.7 $1.3 Cost of Sales Restructuring and Impairment Charges (Gains) As part of our optimization plans, we also completed the sale of our Passaic property in September 2019 third $12.4 $0.9 $11.5 first 2020, Restructuring and Impairment Charges (Gains) Inventory Write-downs During the first 2020 $3.2 $2.6 $0.6 Cost of Sale s. Summary of Restructuring , Impairments and Other r elated charges (gains) Restructuring, impairment and other related costs incurred during the three six December 31, 2019 Three months ended Six months ended December 31, 2019 December 31, 2019 Optimization of manufacturing and logistics $ (178 ) $ 462 Gain on sale of Passaic property - (11,497 ) Total Restructuring and other exit costs (income) $ (178 ) $ (11,035 ) Manufacturing overhead costs 271 1,323 (1) Inventory write-downs 121 3,209 (1) Total $ 214 $ (6,503 ) ( 1 Manufacturing overhead costs and inventory write-downs are reported within Cost of Sales Restructuring and Other Related Charges Rollforward The Company’s restructuring activity is summarized in the table below (in thousands): Fiscal 2020 Activity Optimization of Manufacturing and Logistics Balance June 30, 2019 New Charges (Income) Non-Cash (Payments) Receipts Balance Dec 31, 2019 Employee severance, other payroll and benefit costs $ 1,714 $ 712 $ 23 $ (2,380 ) $ 23 (1) Manufacturing overhead costs - 1,323 - (1,323 ) - Sale of Passaic property - (11,497 ) 245 11,742 - Sale of other property, plant and equipment - (675 ) - 675 - Other exit costs - 425 (522 ) (947 ) - Sub-total $ 1,714 $ (9,712 ) $ (254 ) $ 7,767 $ 23 Inventory write-downs Inventory write-downs $ - $ 3,209 $ 3,209 $ - $ - Other Restructuring and Impairment Charges Lease exit costs (remaining lease rentals) $ 3,145 $ - $ 2,878 $ (267 ) $ - (2) Other charges (income) 224 - - (104 ) 120 (3) Sub-total 3,369 - 2,878 (371 ) 120 Total Restructuring, Impairments and other exit costs $ 5,083 $ (6,503 ) $ 5,833 $ 7,396 $ 143 ( 1 Remaining severance expected to be paid during the third 2020. Accrued compensation and benefits December 31, 2019. ( 2 The previously recorded vacant space liability was reclassified from Accounts payable and accrued expenses Other long-term liabilities Operating lease right-of-use assets 2016 02, 420 ( 3 The remaining balance from the other charges (income) as of December 31, 2019 Accounts payable and accrued expenses

Note 10 - Share-based Compensat

Note 10 - Share-based Compensation	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Share-based Payment Arrangement [Text Block]	( 10 Share-Based Compensation During the six December 31, 2019 2018, $0.1 $0.8 December 31, 2019, $0.8 2.0 no six December 31, 2019 2018. At December 31, 2019, 1,461,475 10 one three A summary of stock option activity during the six December 31, 2019 Weighted Average Options Exercise Price Outstanding at June 30, 2019 378,911 $ 21.95 Granted 49,188 $ 17.82 Exercised (4,500 ) $ 11.74 Canceled (forfeited/expired) (23,162 ) $ 23.25 Outstanding at December 31, 2019 400,437 $ 21.49 Exercisable at December 31, 2019 314,373 $ 21.56 Stock options granted to employees during fiscal 2020 no 2019. FY 2020 Volatility 30.8 % Risk-free rate of return 1.84 % Dividend yield 4.56 % Expected average life (years) 6.7 Non-employee (independent) directors were granted stock options during the first FY 2020 FY 2019 Volatility 30.8 % 31.3 % Risk-free rate of return 1.55 % 2.80 % Dividend yield 3.97 % 3.24 % Expected average life (years) 5.3 5.0 A summary of stock unit awards activity during the six December 31, 2019 Weighted Average Units Grant Date Fair Value Outstanding at June 30, 2019 313,882 $ 22.80 Granted 99,405 $ 12.72 Vested - $ - Canceled (forfeited/expired) - $ - Outstanding at December 31, 2019 413,287 $ 20.37 We estimate, as of the date of grant, the fair value of performance stock units with a discounted cash flow model, using as model inputs the risk-free rate of return as the discount rate, dividend yield for dividends not one 2020 2019, FY 2020 FY 2019 Volatility 30.5 % 32.1 % Risk-free rate of return 1.72 % 2.72 % Dividend yield 3.97 % 3.24 % Expected average life (years) 3.0 3.0 There was no 2020. December 31, 2019, no

Note 11 - Earnings Per Share

Note 11 - Earnings Per Share	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	( 11 Earnings Per Share Basic and diluted earnings per share (“EPS”) are calculated using the following weighted average share data (in thousands): Three months ended Six months ended December 31, December 31, 2019 2018 2019 2018 Weighted average shares outstanding for basic calculation 26,580 26,574 26,646 26,556 Dilutive effect of stock options and other share-based awards 32 349 35 376 Weighted average shares outstanding adjusted for dilution calculation 26,612 26,923 26,681 26,932 Dilutive potential common shares consist of stock options and performance stock units. As of December 31, 2019 2018, 280,437 157,294 As of December 31, 2019 2018, 287,287 268,752, .

Note 12 - Accumulated Other Com

Note 12 - Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	( 12 Accumulated Other Comprehensive Income ( Loss ) Accumulated other comprehensive income (loss) consists of foreign currency translation adjustments which are the result of changes in foreign currency exchange rates related to our operations outside the United States. Assets and liabilities are translated into U.S. dollars using the current period-end exchange rate and income and expense amounts are translated using the average exchange rate for the period in which the transaction occurred. The following table sets forth the activity in accumulated other comprehensive loss for the fiscal year-to-date period ended December 31, 2019 ( 2019 2018 Beginning balance at July 1 $ (5,651 ) $ (6,171 ) Foreign currency translation adjustments 274 52 Amounts reclassified from accumulated other comprehensive income - - Current period other comprehensive income 274 52 Ending balance at December 31 $ (5,377 ) $ (6,119 )

Note 13 - Segment Information

Note 13 - Segment Information	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 13 Segment Information Our operating segments are aligned with how the Company, including its chief operating decision maker, manages the business. As such, our reportable operating segments are the Wholesale segment and the Retail segment. Our wholesale and retail operating segments represent strategic business areas of our vertically integrated enterprise that operate separately and provide their own distinctive services. This vertical structure enables us to offer our complete line of home furnishings and accents more effectively while controlling quality and cost. We evaluate performance of the respective segments based upon revenues and operating income. Inter-segment transactions result, primarily, from the wholesale sale of inventory to the retail segment, including the related profit margin. As of December 31, 2019, 144 158 79% six December 31, 2019. 21%. Segment information for the three six December 31, 2019 2018 Three months ended Six months ended December 31, December 31, 2019 2018 2019 2018 Net sales Wholesale segment $ 91,889 $ 107,658 $ 193,218 $ 225,730 Retail segment 139,101 158,508 276,367 303,722 Elimination of intercompany sales (56,416 ) (69,014 ) (121,090 ) (144,515 ) Consolidated Total $ 174,574 $ 197,152 $ 348,495 $ 384,937 Income (loss) before income taxes Wholesale segment $ 5,730 $ 8,821 $ 22,658 $ 23,136 Retail segment (135 ) 3,311 1,429 1,752 Elimination of intercompany profit (a) 3,609 3,996 3,758 3,039 Operating income 9,204 16,128 27,845 27,927 Interest income, net of interest (expense) 63 152 82 125 Consolidated Total $ 9,267 $ 16,280 $ 27,927 $ 28,052 Depreciation and amortization Wholesale segment $ 1,750 $ 1,896 $ 3,640 $ 3,857 Retail segment 2,704 3,029 4,790 6,068 Consolidated Total $ 4,454 $ 4,925 $ 8,430 $ 9,925 Capital expenditures Wholesale segment $ 1,148 $ 831 $ 2,311 $ 1,681 Retail segment 3,425 1,346 5,676 3,273 Consolidated Total $ 4,573 $ 2,177 $ 7,987 $ 4,954 (a) Represents the change in wholesale profit contained in the retail segment inventory at the end of the period. December 31, June 30, 2019 2019 Total Assets: Wholesale segment $ 233,374 $ 237,354 Retail segment 411,359 299,125 Inventory profit elimination (b) (22,806 ) (26,128 ) Consolidated Total $ 621,927 $ 510,351 (b) Represents the wholesale profit contained in the retail segment inventory that has not

Note 14 - Commitments and Conti

Note 14 - Commitments and Contingencies	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 14 Commitments and Contingencies We accrue non-income tax liabilities for contingencies when management believes that a loss is probable, and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. We are routinely party to various legal proceedings, claims and litigation that have arisen in the ordinary course of business, including employment matters, commercial and intellectual property disputes and environmental items. For more information on how we determine whether to accrue for potential losses resulting from litigation, see Note 20 2019 10 may The outcome of any matters pending against us is subject to future resolution, including the uncertainties of litigation. Based on information available at December 31, 2019, not

Note 15 - Subsequent Events

Note 15 - Subsequent Events	6 Months Ended
	Dec. 31, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	( 15 Subsequent Event On January 13, 2020, 3,000,000 may

Note 4 - Revenue Recognition (T

Note 4 - Revenue Recognition (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Disaggregation of Revenue [Table Text Block]	Wholesale Retail Total Upholstery (1) $ 44,329 $ 63,696 $ 108,025 Case goods (2) 31,797 39,883 71,680 Accents (3) 16,170 30,247 46,417 Other (4) (407 ) 5,275 4,868 Total before intercompany eliminations $ 91,889 $ 139,101 230,990 Intercompany eliminations (5) (56,416 ) Consolidated net sales $ 174,574 Wholesale Retail Total Upholstery (1) $ 94,349 $ 126,932 $ 221,281 Case goods (2) 65,826 78,643 144,469 Accents (3) 34,167 60,229 94,396 Other (4) (1,124 ) 10,563 9,439 Total before intercompany eliminations $ 193,218 $ 276,367 469,585 Intercompany eliminations (5) (121,090 ) Consolidated net sales $ 348,495

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	December 31, June 30, 2019 2019 Finished goods $ 107,105 $ 128,047 Work in process 8,975 9,185 Raw materials 24,395 26,661 Inventory reserves (1,478 ) (1,504 ) Inventories, net $ 138,997 $ 162,389

Note 6 - Leases (Tables)

Note 6 - Leases (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Lease, Cost [Table Text Block]	December 31, 2019 Weighted-average remaining lease term (in years) Operating leases 6.7 Financing leases 1.9 Weighted-average discount rate Operating leases 3.7 % Financing leases 4.4 % Statement of Comprehensive Income Location Three months ended December 31, 2019 Six months ended December 31, 2019 Operating lease cost Selling, general and administrative (“SG&A”) $ 8,169 $ 16,191 Financing lease cost: Depreciation of property SG&A 146 293 Interest on lease liabilities Interest income, net of interest (expense) 8 17 Short-term lease cost SG&A 355 742 Variable lease cost (1) SG&A 2,373 4,836 Less: Sublease income SG&A (596 ) (1,102 ) Total lease expense $ 10,455 $ 20,977
Lease, Balance Sheet Disclosure [Table Text Block]	Consolidated Balance Sheet Location December 31, 2019 Assets Operating leases Operating lease right-of-use assets (non-current) $ 128,525 Financing leases Property, plant and equipment, net 891 Total lease assets $ 129,416 Liabilities Current: Operating leases Current operating lease liabilities $ 32,809 Financing leases Other current liabilities 597 Noncurrent: Operating leases Operating lease liabilities, long-term 117,857 Financing leases Other long-term liabilities 278 Total lease liabilities $ 151,541 Retail $ 128,587 Wholesale 829 Total ROU assets $ 129,416
Lessee, Leases, Liability, Maturity [Table Text Block]	Fiscal Year Operating Leases Financing Leases 2020 (remaining six months) $ 17,788 $ 303 2021 33,224 459 2022 28,909 78 2023 22,487 39 2024 17,397 19 Thereafter 52,636 8 Total undiscounted future minimum lease payments 172,441 906 Less: imputed interest (21,775 ) (31 ) Total present value of lease obligations $ 150,666 $ 875
Lease, Supplemental Lease Information [Table Text Block]	Six months ended December 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 16,037 Operating cash flows from financing leases $ 278 Operating lease assets obtained in exchange for new operating lease liabilities $ 13,641
Schedule of Future Minimum Rental Payments for Leases [Table Text Block]	Fiscal Year Operating Leases Financing Leases (1) 2020 $ 33,761 $ 550 2021 30,534 437 2022 26,443 60 2023 20,276 19 2024 15,345 - Thereafter 43,500 - Total $ 169,859 $ 1,066

Note 8 - Debt (Tables)

Note 8 - Debt (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Debt [Table Text Block]	December 31, June 30, 2019 2019 Borrowings under revolving credit facility $ - $ - Capital leases (1) - 1,066 Total debt - 1,066 Less current maturities - 550 Total long-term debt $ - $ 516

Note 9 - Restructuring and Im_2

Note 9 - Restructuring and Impairment Activities (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Restructuring and Related Costs [Table Text Block]	Three months ended Six months ended December 31, 2019 December 31, 2019 Optimization of manufacturing and logistics $ (178 ) $ 462 Gain on sale of Passaic property - (11,497 ) Total Restructuring and other exit costs (income) $ (178 ) $ (11,035 ) Manufacturing overhead costs 271 1,323 (1) Inventory write-downs 121 3,209 (1) Total $ 214 $ (6,503 )
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	Fiscal 2020 Activity Optimization of Manufacturing and Logistics Balance June 30, 2019 New Charges (Income) Non-Cash (Payments) Receipts Balance Dec 31, 2019 Employee severance, other payroll and benefit costs $ 1,714 $ 712 $ 23 $ (2,380 ) $ 23 (1) Manufacturing overhead costs - 1,323 - (1,323 ) - Sale of Passaic property - (11,497 ) 245 11,742 - Sale of other property, plant and equipment - (675 ) - 675 - Other exit costs - 425 (522 ) (947 ) - Sub-total $ 1,714 $ (9,712 ) $ (254 ) $ 7,767 $ 23 Inventory write-downs Inventory write-downs $ - $ 3,209 $ 3,209 $ - $ - Other Restructuring and Impairment Charges Lease exit costs (remaining lease rentals) $ 3,145 $ - $ 2,878 $ (267 ) $ - (2) Other charges (income) 224 - - (104 ) 120 (3) Sub-total 3,369 - 2,878 (371 ) 120 Total Restructuring, Impairments and other exit costs $ 5,083 $ (6,503 ) $ 5,833 $ 7,396 $ 143

Note 10 - Share-based Compens_2

Note 10 - Share-based Compensation (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Average Options Exercise Price Outstanding at June 30, 2019 378,911 $ 21.95 Granted 49,188 $ 17.82 Exercised (4,500 ) $ 11.74 Canceled (forfeited/expired) (23,162 ) $ 23.25 Outstanding at December 31, 2019 400,437 $ 21.49 Exercisable at December 31, 2019 314,373 $ 21.56
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	FY 2020 Volatility 30.8 % Risk-free rate of return 1.84 % Dividend yield 4.56 % Expected average life (years) 6.7 FY 2020 FY 2019 Volatility 30.8 % 31.3 % Risk-free rate of return 1.55 % 2.80 % Dividend yield 3.97 % 3.24 % Expected average life (years) 5.3 5.0
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Weighted Average Units Grant Date Fair Value Outstanding at June 30, 2019 313,882 $ 22.80 Granted 99,405 $ 12.72 Vested - $ - Canceled (forfeited/expired) - $ - Outstanding at December 31, 2019 413,287 $ 20.37
Schedule of Share-based Payment Award, Restricted Stock Units, Valuation Assumptions [Table Text Block]	FY 2020 FY 2019 Volatility 30.5 % 32.1 % Risk-free rate of return 1.72 % 2.72 % Dividend yield 3.97 % 3.24 % Expected average life (years) 3.0 3.0

Note 11 - Earnings Per Share (T

Note 11 - Earnings Per Share (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended Six months ended December 31, December 31, 2019 2018 2019 2018 Weighted average shares outstanding for basic calculation 26,580 26,574 26,646 26,556 Dilutive effect of stock options and other share-based awards 32 349 35 376 Weighted average shares outstanding adjusted for dilution calculation 26,612 26,923 26,681 26,932

Note 12 - Accumulated Other C_2

Note 12 - Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	2019 2018 Beginning balance at July 1 $ (5,651 ) $ (6,171 ) Foreign currency translation adjustments 274 52 Amounts reclassified from accumulated other comprehensive income - - Current period other comprehensive income 274 52 Ending balance at December 31 $ (5,377 ) $ (6,119 )

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	6 Months Ended
	Dec. 31, 2019
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three months ended Six months ended December 31, December 31, 2019 2018 2019 2018 Net sales Wholesale segment $ 91,889 $ 107,658 $ 193,218 $ 225,730 Retail segment 139,101 158,508 276,367 303,722 Elimination of intercompany sales (56,416 ) (69,014 ) (121,090 ) (144,515 ) Consolidated Total $ 174,574 $ 197,152 $ 348,495 $ 384,937 Income (loss) before income taxes Wholesale segment $ 5,730 $ 8,821 $ 22,658 $ 23,136 Retail segment (135 ) 3,311 1,429 1,752 Elimination of intercompany profit (a) 3,609 3,996 3,758 3,039 Operating income 9,204 16,128 27,845 27,927 Interest income, net of interest (expense) 63 152 82 125 Consolidated Total $ 9,267 $ 16,280 $ 27,927 $ 28,052 Depreciation and amortization Wholesale segment $ 1,750 $ 1,896 $ 3,640 $ 3,857 Retail segment 2,704 3,029 4,790 6,068 Consolidated Total $ 4,454 $ 4,925 $ 8,430 $ 9,925 Capital expenditures Wholesale segment $ 1,148 $ 831 $ 2,311 $ 1,681 Retail segment 3,425 1,346 5,676 3,273 Consolidated Total $ 4,573 $ 2,177 $ 7,987 $ 4,954 December 31, June 30, 2019 2019 Total Assets: Wholesale segment $ 233,374 $ 237,354 Retail segment 411,359 299,125 Inventory profit elimination (b) (22,806 ) (26,128 ) Consolidated Total $ 621,927 $ 510,351

Note 3 - Recent Accounting Pr_2

Note 3 - Recent Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2019	Jul. 01, 2019	Jun. 30, 2019
Operating Lease, Right-of-Use Asset	$ 128,525
Operating Lease, Liability, Total	$ 150,666
Other Noncurrent Liabilities [Member]
Deferred Rent and Lease Incentives			$ (20,000)
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset		$ 129,700
Operating Lease, Liability, Total		149,700
Accounting Standards Update 2016-02 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption		$ (1,600)

Note 4 - Revenue Recognition (D

Note 4 - Revenue Recognition (Details Textual) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Oct. 31, 2019	Dec. 31, 2019	Dec. 31, 2019	Jun. 30, 2019
Contract with Customer, Liability, Total		$ 45,900,000	$ 45,900,000	$ 56,700,000
Contract with Customer, Liability, Revenue Recognized		$ 7,000,000	$ 53,600,000
Annual Fee Per Member [Member]
Membership, Annual Fee Amount Per Member	$ 100
Contract with Customer, Satisfaction of Performance Obligation Period	1 year

Note 4 - Revenue Recognition -

Note 4 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2019		Dec. 31, 2018
Revenues		$ 174,574		$ 197,152	$ 348,495		$ 384,937
Operating Segments [Member]
Revenues		230,990			469,585
Operating Segments [Member] | Upholstery Furniture [Member]
Revenues	[1]	108,025			221,281
Operating Segments [Member] | Case Goods Furniture [Member]
Revenues	[2]	71,680			144,469
Operating Segments [Member] | Accent [Member]
Revenues	[3]	46,417			94,396
Operating Segments [Member] | Manufactured Product, Other [Member]
Revenues	[4]	4,868			9,439
Intersegment Eliminations [Member]
Revenues		(56,416)	[5]	(69,014)	(121,090)	[5]	(144,515)
Wholesale Segment [Member] | Operating Segments [Member]
Revenues		91,889		107,658	193,218		225,730
Wholesale Segment [Member] | Operating Segments [Member] | Upholstery Furniture [Member]
Revenues	[1]	44,329			94,349
Wholesale Segment [Member] | Operating Segments [Member] | Case Goods Furniture [Member]
Revenues	[2]	31,797			65,826
Wholesale Segment [Member] | Operating Segments [Member] | Accent [Member]
Revenues	[3]	16,170			34,167
Wholesale Segment [Member] | Operating Segments [Member] | Manufactured Product, Other [Member]
Revenues	[4]	(407)			(1,124)
Retail Segment [Member] | Operating Segments [Member]
Revenues		139,101		$ 158,508	276,367		$ 303,722
Retail Segment [Member] | Operating Segments [Member] | Upholstery Furniture [Member]
Revenues	[1]	63,696			126,932
Retail Segment [Member] | Operating Segments [Member] | Case Goods Furniture [Member]
Revenues	[2]	39,883			78,643
Retail Segment [Member] | Operating Segments [Member] | Accent [Member]
Revenues	[3]	30,247			60,229
Retail Segment [Member] | Operating Segments [Member] | Manufactured Product, Other [Member]
Revenues	[4]	$ 5,275			$ 10,563
[1]	Upholstery furniture includes fabric-covered items such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics and leather.
[2]	Case goods furniture includes items such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents.
[3]	Accents includes items such as window treatments and drapery hardware, wall décor, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings and home and garden furnishings.
[4]	Other includes membership revenue, product delivery sales, the Ethan Allen Hotel room rentals and banquets, sales of third-party furniture protection plans and other miscellaneous product sales less prompt payment discounts, sales allowances and other incentives.
[5]	Represents the elimination of all intercompany wholesale segment sales to the retail segment during the period presented.

Note 5 - Inventories - Schedule

Note 5 - Inventories - Schedule of Inventory (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Finished goods	$ 107,105	$ 128,047
Work in process	8,975	9,185
Raw materials	24,395	26,661
Inventory reserves	(1,478)	(1,504)
Inventories, net	$ 138,997	$ 162,389

Note 6 - Leases (Details Textua

Note 6 - Leases (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2018	Dec. 31, 2019		Jun. 30, 2019
Operating Lease, Cost	$ 8,000	$ 16,000
Sublease Income	$ 500	$ 1,000
Lessee, Operating Lease, Lease Not yet Commenced, Payments, Due			$ 6,300
Capital Lease Obligations, Total				[1]	$ 1,066
Minimum [Member]
Lessee, Finance Lease, Term of Contract			3 years
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract			5 years
Maximum [Member]
Lessee, Finance Lease, Term of Contract			5 years
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract			10 years
[1]	Capital leases were previously reported as debt as of June 30, 2019. Upon the adoption of the new leasing standard, the Company reclassified its capital lease obligations from short and long-term debt to other current liabilities and other long-current liabilities, respectively. Refer to Note 6 for further details regarding capital lease obligations.

Note 6 - Leases - Lease Costs (

Note 6 - Leases - Lease Costs (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Operating leases (Year)		6 years 255 days		6 years 255 days
Financing leases (Year)		1 year 328 days		1 year 328 days
Operating leases		3.70%		3.70%
Financing leases		4.40%		4.40%
Operating lease cost			$ 8,000		$ 16,000
Less: Sublease income			$ (500)		$ (1,000)
Total lease expense		$ 10,455		$ 20,977
Selling, General and Administrative Expenses [Member]
Operating lease cost		8,169		16,191
Depreciation of property		146		293
Short-term lease cost		355		742
Variable lease cost(1)	[1]	2,373		4,836
Less: Sublease income		(596)		(1,102)
Interest Income [Member]
Interest on lease liabilities		$ 8		$ 17
[1]	Variable lease payments include index-based changes in rent, maintenance, real estate taxes, insurance and other charges included in the lease.

Note 6 - Leases - Lease Assets

Note 6 - Leases - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Jun. 30, 2019
Operating leases	$ 128,525
Total lease assets	129,416
Operating leases	32,809
Operating leases	117,857
Total lease liabilities	151,541
Property, Plant and Equipment [Member]
Financing leases	891
Financing leases	597
Financing leases	278
Retail Segment [Member]
Total lease assets	128,587
Wholesale Segment [Member]
Total lease assets	$ 829

Note 6 - Leases - Future Minimu

Note 6 - Leases - Future Minimum Lease Payments (Details) $ in Thousands	Dec. 31, 2019USD ($)
2020 (remaining six months), operating leases	$ 17,788
2020 (remaining six months), finance leases	303
2021, operating leases	33,224
2021, finance leases	459
2022, operating leases	28,909
2022, finance leases	78
2023, operating leases	22,487
2023, finance leases	39
2024, operating leases	17,397
2024, finance leases	19
Thereafter, operating leases	52,636
Thereafter, finance leases	8
Total undiscounted future minimum lease payments, operating leases	172,441
Total undiscounted future minimum lease payments, finance leases	906
Less: imputed interest, operating leases	(21,775)
Less: imputed interest, finance leases	(31)
Total present value of lease obligations, operating leases	150,666
Total present value of lease obligations, finance leases	$ 875

Note 6 - Leases - Supplemental

Note 6 - Leases - Supplemental Information (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2019USD ($)
Operating cash flows from operating leases	$ 16,037
Operating cash flows from financing leases	278
Operating lease assets obtained in exchange for new operating lease liabilities	$ 13,641

Note 6 - Leases - Future Mini_2

Note 6 - Leases - Future Minimum Non-cancelable Lease Payments (Details) $ in Thousands	Jun. 30, 2019USD ($)
2020, operating leases	$ 33,761
2020, finance leases	550	[1]
2021, operating leases	30,534
2021, finance leases	437	[1]
2022, operating leases	26,443
2022, finance leases	60	[1]
2023, operating leases	20,276
2023, finance leases	19	[1]
2024, operating leases	15,345
2024, finance leases		[1]
Thereafter, operating leases	43,500
Thereafter, finance leases		[1]
Total, operating leases	169,859
Total, finance leases	$ 1,066	[1]
[1]	As of June 30, 2019, our capital lease obligations were $1.1 million of which the current and long-term portions were included within short-term debt and long-term debt, respectively, in the consolidated balance sheet. Monthly minimum lease payments were accounted for as principal and interest payments.

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual)	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2020
Effective Income Tax Rate Reconciliation, Percent, Total	23.50%	25.10%	24.10%	25.00%
Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent					21.00%

Note 8 - Debt (Details Textual)

Note 8 - Debt (Details Textual) $ in Thousands	Dec. 21, 2018USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2019USD ($)
Long-term Line of Credit, Total
Revolving Credit Facility [Member] | The Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 165,000
Debt Issuance Costs, Net, Total	600
Long-term Line of Credit, Total		0
Interest Expense, Debt, Total		0
Debt Covenant, Fixed Charge Coverage Ratio, Maximum Unused Availability	$ 18,500
Debt Instrument, Covenant, Minimum Fixed Charge Coverage Ratio	1
Line of Credit Facility, Remaining Borrowing Capacity		126,400	158,900
Revolving Credit Facility [Member] | The Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Revolving Credit Facility [Member] | The Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Revolving Credit Facility [Member] | The Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Revolving Credit Facility [Member] | The Facility [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Revolving Credit Facility [Member] | The Facility [Member] | Additional Margin on Variable Rate Option [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Revolving Credit Facility [Member] | The Facility [Member] | Additional Margin on Variable Rate Option [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Standby Letters of Credit [Member] | The Facility [Member]
Letters of Credit Outstanding, Amount		$ 5,800	$ 6,100

Note 8 - Debt - Total Debt Obli

Note 8 - Debt - Total Debt Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2019		Jun. 30, 2019
Long-term Line of Credit, Total
Capital leases (1)		[1]	1,066
Total debt			1,066
Less current maturities			550
Total long-term debt			$ 516
[1]	Capital leases were previously reported as debt as of June 30, 2019. Upon the adoption of the new leasing standard, the Company reclassified its capital lease obligations from short and long-term debt to other current liabilities and other long-current liabilities, respectively. Refer to Note 6 for further details regarding capital lease obligations.

Note 9 - Restructuring and Im_3

Note 9 - Restructuring and Impairment Activities (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Gain (Loss) on Disposition of Property Plant Equipment, Total				$ (163)	$ (43)
Inventory Write-down				3,200
Inventory Write-down, Slow Moving Finished Goods [Member]
Inventory Write-down				2,600
Inventory Write-down, Raw Materials Disposed of [Member]
Inventory Write-down				600
Facility Closing, Old Fort [Member]
Restructuring Charges, Total				1,800
Gain (Loss) on Disposition of Property Plant Equipment, Total				700
Inventory Write-downs and Manufacturing Overhead Costs [Member]
Restructuring Charges, Total				1,300
Inventory Write-downs and Manufacturing Overhead Costs [Member] | Cost of Sales [Member]
Restructuring Charges, Total				1,300
Employee Severance and Other Payroll and Benefit Costs [Member]
Restructuring Charges, Total				700
Other Exit and Relocation Costs [Member]
Restructuring Charges, Total				400
Facility Closing, Passaic [Member]
Proceeds from Divestiture of Businesses, Net of Cash Divested, Total	$ 12,400
Payments for Divestiture Selling and Closing Costs	$ 900
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal			$ 11,500	$ 11,497

Note 9 - Restructuring and Im_4

Note 9 - Restructuring and Impairment Activities - Schedule of Restructuring, Impairments and Other Related Charges (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2019
Inventory write-downs				$ 3,200
Total		$ 214		(6,503)
Optimization of Manufacturing and Logistics [Member]
Restructuring Charge		(178)		462
Facility Closing, Passaic [Member]
Gain on sale of Passaic property			$ (11,500)	(11,497)
Total Restructuring and Other Exit Costs [Member]
Total Restructuring and other exit costs (income)		(178)		(11,035)
Manufacturing Overhead Costs [Member]
Manufacturing overhead costs	[1]	271		1,323
Inventory Write-downs [Member]
Inventory write-downs	[1]	$ 121		$ 3,209
[1]	Manufacturing overhead costs and inventory write-downs are reported within Cost of Sales in the consolidated statements of comprehensive income.

Note 9 - Restructuring and Im_5

Note 9 - Restructuring and Impairment Activities - Schedule of Restructuring Reserve (Details) $ in Thousands	6 Months Ended
	Dec. 31, 2019USD ($)
Restructuring Reserve	$ 5,083
New Charges (Income)	(6,503)
Non-Cash	5,833
(Payments) Receipts	7,396
Restructuring Reserve	143
Employee Severance, Other Payroll and Benefit Costs [Member]
Restructuring Reserve	1,714
New Charges (Income)	712
Non-Cash	23
(Payments) Receipts	(2,380)
Restructuring Reserve	23	[1]
Manufacturing Overhead Costs [Member]
Restructuring Reserve
New Charges (Income)	1,323
Non-Cash
(Payments) Receipts	(1,323)
Restructuring Reserve
Facility Closing, Passaic [Member]
Restructuring Reserve
New Charges (Income)	(11,497)
Non-Cash	245
(Payments) Receipts	11,742
Restructuring Reserve
Facility Closing, Old Fort [Member]
Restructuring Reserve
New Charges (Income)	(675)
Non-Cash
(Payments) Receipts	675
Restructuring Reserve
Other Exit and Relocation Costs [Member]
Restructuring Reserve
New Charges (Income)	425
(Payments) Receipts	(947)
Restructuring Reserve
Non-Cash	(522)
Optimization of Manufacturing and Logistics [Member]
Restructuring Reserve	1,714
New Charges (Income)	(9,712)
(Payments) Receipts	7,767
Restructuring Reserve	23
Non-Cash	(254)
Inventory Write-downs [Member]
Restructuring Reserve
New Charges (Income)	3,209
Non-Cash	3,209
(Payments) Receipts
Restructuring Reserve
Lease Exit Costs [Member]
Restructuring Reserve	3,145
New Charges (Income)
Non-Cash	2,878
(Payments) Receipts	(267)
Restructuring Reserve		[2]
Other Charges (Income) [Member]
Restructuring Reserve	224
New Charges (Income)
Non-Cash
(Payments) Receipts	(104)
Restructuring Reserve	120	[3]
Other Restructuring and Impairment Charges [Member]
Restructuring Reserve	3,369
New Charges (Income)
Non-Cash	2,878
(Payments) Receipts	(371)
Restructuring Reserve	$ 120
[1]	Remaining severance expected to be paid during the second quarter of fiscal 2020. The balance of $0.2 million is reported within Accrued compensation and benefits in our consolidated balance sheet as of September 30, 2019.
[2]	The previously recorded vacant space liability was reclassified from Accounts payable and accrued expenses and Other long-term liabilities to Operating lease right-of-use assets upon the adoption of ASU 2016-02, which requires all right-of-use assets to be measured net of any Topic 420 lease liabilities.
[3]	The remaining balance from the other charges (income) as of September 30, 2019 is recorded within Accounts payable and accrued expenses.

Note 10 - Share-based Compens_3

Note 10 - Share-based Compensation (Details Textual) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2019	Sep. 30, 2019
Share-based Payment Arrangement, Expense	$ 100	$ 800
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total	$ 800
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years
Share-based Payment Arrangement, Amount Capitalized	$ 0	$ 0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Contractual Term	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	49,188
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance				0
Independent Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years
Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			0
Stock Option Plan 1992 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	1,461,475

Note 10 - Share-based Compens_4

Note 10 - Share-based Compensation - Stock Options, Activity (Details)	6 Months Ended
	Dec. 31, 2019$ / sharesshares
Outstanding, options (in shares) | shares	378,911
Outstanding, Weighted average exercise price (in dollars per share) | $ / shares	$ 21.95
Granted, options (in shares) | shares	49,188
Granted, Weighted average exercise price (in dollars per share) | $ / shares	$ 17.82
Exercised, options (in shares) | shares	(4,500)
Exercised, Weighted average exercise price (in dollars per share) | $ / shares	$ 11.74
Canceled (forfeited/expired), options (in shares) | shares	(23,162)
Canceled (forfeited/expired), Weighted average exercise price (in dollars per share) | $ / shares	$ 23.25
Outstanding, options (in shares) | shares	400,437
Outstanding, Weighted average exercise price (in dollars per share) | $ / shares	$ 21.49
Exercisable, options (in shares) | shares	314,373
Exercisable, Weighted average exercise price (in dollars per share) | $ / shares	$ 21.56

Note 10 - Share-based Compens_5

Note 10 - Share-based Compensation - Stock Options, Valuation Assumptions (Details)	6 Months Ended	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Employees [Member]
Volatility	30.80%
Risk-free rate of return	1.84%
Dividend yield	4.56%
Expected average life (years) (Year)	6 years 255 days
Independent Directors [Member]
Volatility	30.80%	31.30%
Risk-free rate of return	1.55%	2.80%
Dividend yield	3.97%	3.24%
Expected average life (years) (Year)	5 years 109 days	5 years

Note 10 - Share-based Compens_6

Note 10 - Share-based Compensation - Restricted Stock and Restricted Stock Units Activity (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Dec. 31, 2019$ / sharesshares
Nonvested units (in shares) | shares	313,882
Nonvested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 22.80
Granted (in shares) | shares	99,405
Granted, weighted average grant date fair value (in dollars per share) | $ / shares	$ 12.72
Vested (in shares) | shares
Vested, weighted average grant date fair value (in dollars per share) | $ / shares
Canceled (forfeited/expired) (in shares) | shares
Canceled (forfeited/expired) (in dollars per share) | $ / shares
Nonvested units (in shares) | shares	413,287
Nonvested, weighted average grant date fair value (in dollars per share) | $ / shares	$ 20.37

Note 10 - Share-based Compens_7

Note 10 - Share-based Compensation - Restricted Stock Unit Awards, Valuation Assumptions (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2019
Volatility	30.50%	32.10%
Risk-free rate of return	1.72%	2.72%
Dividend yield	3.97%	3.24%
Expected average life (years) (Year)	3 years	3 years

Note 11 - Earnings Per Share (D

Note 11 - Earnings Per Share (Details Textual) - shares	6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Stock Options And Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	280,437	157,294
Performance Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	287,287	268,752

Note 11 - Earnings Per Share -

Note 11 - Earnings Per Share - Calculation of Weighted Average Shares (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Weighted average shares outstanding for basic calculation (in shares)	26,580	26,574	26,646	26,556
Dilutive effect of stock options and other share-based awards (in shares)	32	349	35	376
Weighted average shares outstanding adjusted for dilution calculation (in shares)	26,612	26,923	26,681	26,932

Note 12 - Accumulated Other C_3

Note 12 - Accumulated Other Comprehensive Income (Loss) - Activity in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2019	Dec. 31, 2018
Balance	$ 370,503	$ 363,929	$ 389,987	$ 383,870	$ 363,929	$ 383,870
Other comprehensive income (loss) net of tax	754	(506)	(1,214)	1,221	248	7
Balance	362,825	370,503	369,665	389,987	362,825	369,665
AOCI Attributable to Parent [Member]
Balance	(6,150)	(5,651)	(4,924)	(6,171)	(5,651)	(6,171)
Other comprehensive income (loss) net of tax	773	(499)	(1,195)
Balance	$ (5,377)	$ (6,150)	$ (6,119)	$ (4,924)	(5,377)	(6,119)
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Foreign currency translation adjustments					274	52
Amounts reclassified from accumulated other comprehensive income
Other comprehensive income (loss) net of tax					$ 274	$ 52

Note 13 - Segment Information_2

Note 13 - Segment Information (Details Textual) - Customer Concentration Risk [Member] - Revenue Benchmark [Member]	6 Months Ended
	Dec. 31, 2019
Retail Segment [Member]
Concentration Risk, Percentage	79.00%
Wholesale Segment [Member]
Concentration Risk, Percentage	21.00%

Note 13 - Segment Information -

Note 13 - Segment Information - Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2019		Dec. 31, 2018	Jun. 30, 2019
Net sales		$ 174,574		$ 197,152	$ 348,495		$ 384,937
Operating Income		9,204		16,128	27,845		27,927
Interest income, net of interest (expense)		63		152	82		125
Consolidated Total		9,267		16,280	27,927		28,052
Depreciation and amortization		4,454		4,925	8,430		9,925
Capital Expenditures		4,573		2,177	7,987		4,954
Assets		621,927			621,927			$ 510,351
Operating Segments [Member]
Net sales		230,990			469,585
Intersegment Eliminations [Member]
Net sales		(56,416)	[1]	(69,014)	(121,090)	[1]	(144,515)
Operating Income	[2]	3,609		3,996	3,758		3,039
Wholesale Segment [Member]
Depreciation and amortization		1,750		1,896	3,640		3,857
Capital Expenditures		1,148		831	2,311		1,681
Assets		233,374			233,374			237,354
Wholesale Segment [Member] | Operating Segments [Member]
Net sales		91,889		107,658	193,218		225,730
Operating Income		5,730		8,821	22,658		23,136
Retail Segment [Member]
Depreciation and amortization		2,704		3,029	4,790		6,068
Capital Expenditures		3,425		1,346	5,676		3,273
Assets		411,359			411,359			299,125
Retail Segment [Member] | Operating Segments [Member]
Net sales		139,101		158,508	276,367		303,722
Operating Income		(135)		$ 3,311	1,429		$ 1,752
Inventory Profit Elimination [Member]
Assets	[3]	$ (22,806)			$ (22,806)			$ (26,128)
[1]	Represents the elimination of all intercompany wholesale segment sales to the retail segment during the period presented.
[2]	Represents the change in wholesale profit contained in the retail segment inventory at the end of the period.
[3]	Represents the wholesale profit contained in the retail segment inventory that has not yet been realized. These profits are realized when the related inventory is sold.

Note 15 - Subsequent Events (De

Note 15 - Subsequent Events (Details Textual)	Jan. 13, 2020shares
Subsequent Event [Member]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased	3,000,000