Interior designers, furniture makers adapting to new socially distant norms

Wednesday, 29 April, 2020

HIGH POINT, N.C. — As if the state’s economy hadn’t taken enough of a hit from COVID-19, local officials were forced to cancel what would have been the High Point Furniture Market, originally set for this past weekend. The internationally acclaimed gathering takes place twice a year and is the largest home furnishings industry trade show in the world where manufacturers introduce new products and the industry connects through continuing education and collaboration. The only other time in history it was canceled was a back in 1942, during the height of WWII. “Market” as it is commonly referred to by members of the trade, occupies over 10 million square feet of space throughout 180 buildings and accommodates 2000 exhibitors, and has an impact of over $6 billion, making it the largest single economic event in the state each year.

Littleton furniture manufacturing business begins making plexiguards for offices

Wednesday, 29 April, 2020

LITTLETON, Colo.– It looks like normal business at Xybix Systems in Littleton.

“We manufacture furniture for 911 dispatch centers all over North America,” Xybix President Barry Carson said.

But not all is normal.

“No, not the plexiglass. That’s a new addition,” Carson added.

The COVID-19 pandemic presented a new need for its customers, who are essential workers.

Knoll Reports First Quarter 2020 Results

Monday, 27 April, 2020

(GLOBE NEWSWIRE) — Knoll, Inc. (NYSE: KNL), a leading designer and manufacturer of furnishings, textiles and fine leathers for the workplace and home, today announced results for the first quarter ended March 31, 2020.

First Quarter Highlights

Net Sales increased 2.2% to $340.0M
GAAP Gross Margin decreased 120 bps to 36.0%
Adjusted Gross Margin decreased 80 bps to 36.4%
GAAP Operating Expenses increased $16.3M to $110.9M or 32.6% of net sales
Adjusted Operating Expenses increased $8.9M to $100.9M or 29.7% of net sales
GAAP Operating Margin decreased 520 bps to 1.8% in the Office segment
GAAP Operating Margin decreased 480 bps to 11.0% in the Lifestyle segment
Adjusted EBITDA Margin decreased 110 bps to 9.0% in the Office segment
Adjusted EBITDA Margin decreased 400 bps to 15.3% in the Lifestyle segment
GAAP Net Earnings decreased $7.1M to $10.9M or 3.2% of net sales
Adjusted EBITDA decreased $8.4M to $33.2M or 9.8% of net sales
GAAP Diluted EPS decreased $0.15 to $0.22
Adjusted Diluted EPS decreased $0.01 to $0.40
This release contains non-GAAP financial measures. Please refer to the Reconciliations of Non-GAAP Financial Measures section for reconciliations to the most directly comparable GAAP measure.

Reasons Why Long-term Faith on Steelcase Inc. (SCS) Could Pay Off Investors

Saturday, 25 April, 2020

Let’s start up with the current stock price of Steelcase Inc. (SCS), which is $9.56 to be very precise. The Stock rose vividly during the last session to $9.61 after opening rate of $9.53 while the lowest price it went was recorded $9.28 before closing at $9.49.

Steelcase Inc. had a pretty Dodgy run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $23.02 on 12/18/19, with the lowest value was $7.02 for the same time period, recorded on 03/18/20.

 

Spicers and Office Team appoint Administrators

Friday, 24 April, 2020

CEO Steve Horne has announced the following statement:

“In light of the financial position of the company and unpredictable trading, the Board of Directors have taken action to protect the business and have filed a notice of intention to appoint Administrators for both Spicers and OfficeTeam. The notice of intention to appoint Administrators does not apply to Zen Office and Spicers Ireland.

Italian furniture and design manufacturers push for restarting production

Thursday, 23 April, 2020

A consortium of prominent Italian home furnishing designers and manufacturers are urging Prime Minister Giuseppe Conte to allow their industries to resume production ahead of the country’s gradual re-opening, which is now slated to begin May 3 at the earliest but could likely be pushed back. Italy’s famed and economically vital home design industry—largely centered around Milan but spread across the country—has been at a virtual standstill since at least March 22, when production at the country’s non-essential factories was halted due to the global coronavirus crisis. Italy, an early epicenter of the pandemic, went into nationwide lockdown mode earlier in the month, on March 9.

Italian furniture and design manufacturers push for restarting production

Thursday, 23 April, 2020

A consortium of prominent Italian home furnishing designers and manufacturers are urging Prime Minister Giuseppe Conte to allow their industries to resume production ahead of the country’s gradual re-opening, which is now slated to begin May 3 at the earliest but could likely be pushed back. Italy’s famed and economically vital home design industry—largely centered around Milan but spread across the country—has been at a virtual standstill since at least March 22, when production at the country’s non-essential factories was halted due to the global coronavirus crisis. Italy, an early epicenter of the pandemic, went into nationwide lockdown mode earlier in the month, on March 9.

 

 

10 ways COVID-19 could change office design

Wednesday, 22 April, 2020

  • Millions of people in China have returned to work, and other countries are considering easing lockdowns in phases.
  • Organizations should plan how to adapt offices to comply with social distancing rules.
  • Real estate company Cushman & Wakefield has designed an office where workers can keep six feet apart.

COVID-19 has upended working life, changing how and where people do their jobs.

But with governments and companies around the world looking to ease lockdowns, minimizing virus transmission at work is now at the top of many organizations’ agendas.

 

 

 

 

Humanscale Launches Campaign to Help Remote Workers Stay Healthy

Wednesday, 22 April, 2020

IN RECENT weeks the lockdown and social distancing in India has seen thousands of employees set up an office in their very own homes. In fact, according to many reports, COVID-19 pandemic could lead to Work From Home (WFH) becoming a regular thing. WFH is today an accepted norm in many sectors, especially in the IT sector, as it promotes a good work-life balance and enhances productivity.

 

Office-contract furniture market estimated to be $17 billion

Tuesday, 14 April, 2020

The preliminary estimate developed by IHS Markit of the North American office, education, and healthcare furniture market for 2019 was estimated to be $16.99 billion by the Business and Institutional Furniture Manufacturers Association. That is a gain of 4.3 percent over the actual 2018 market size figure.

The market in the U.S. was estimated to be just under $15 billion for 2019, an increase of 5.5 percent.