Benzinga | Sep 28, 2021 05:56AM EDT

Ethan Allen Plans To Expand Manufacturing In Vermont; Hikes Wages

* Interior design company Ethan Allen Interiors Inc (NYSE:ETD) plans to expand its manufacturing operations in Beecher Falls and Orleans, Vermont.

* As part of its strategy to recruit strong talent, the company has increased its starting wage to $16.00 an hour and actively recruiting new employees.

* Ethan said its production in Vermont had significant declines over the years due to many factors, including the labor shortage and the escalation of manufacturing costs.

* Price Action: ETD shares closed higher by 4.08% at $25.74 on Monday.