The value of small cap stock for Ethan Allen Interiors Inc. (NYSE:ETH) was higher on Friday, continuing a three-day climb and helping the company re-establish its reputation that was badly tarnished in the recession.
The Connecticut-based company that manufactures and sells high-end furniture was forced to close several stores during the recession, but has since remade itself to be a "vertically integrated interior-design company." On July 13, The Economist reported that the furniture maker has revisited its chairs, beds and tables to make them more appealing to an international audience.
The company said it will have a strong focus on China, where it has opened 25 stores in the last year, for a total 69. What's more, Ethan Allen says it believes its Chinese customer base will be more willing to pay top dollar for American style and quality.
On Friday, Ethan Allen's stock was up 4.21 percent, or 87 cents, to $21.52, after opening the day at $20.75. The gains mark the third consecutive day of climbing, as the shares closed at $20.47 and $20.61 on Wednesday and Thursday, respectively.
The company also announced it plans to report fiscal fourth-quarter results on July 26, 2012.
