Haworth reports ‘strongest global sales performance ever’ in 2022

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27 February, 2023

HOLLAND, Mich. – Office furniture giant Haworth reported $2.5 billion in 2022 sales, a substantial 27.5% increase over 2021. According to the company, it was the “best global sales performance” in its history.

“Achieving this level of sales is an important milestone for Haworth with credit due to the entire organization and our dealer partners,” said Franco Bianchi, president and CEO of the privately owned company. “Together with our clients and suppliers, we faced a tumultuous 2022 and achieved these results with deliberate strategy, a diversified portfolio and design innovation.”

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MillerKnoll 3D Leader, La-Z-Boy Alumna Join 3D Cloud by Marxent Advisory Board

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23 February, 2023

ST. PETERSBURG, Fla., Feb. 23, 2023 /PRNewswire/ — Today 3D Cloud™ by Marxent, the 3D experience platform for furniture and home improvement, announced the appointment of Lorna Jean Marcuzzo of MillerKnoll and Gail Applin, formerly of La-Z-Boy, to the 3D Cloud by Marxent Advisory Board. The Advisory Board is comprised of industry veterans from across home improvement, contract furniture, home furnishings, and adjacent industries.

Marcuzzo, currently Senior Digital Product Manager for 3D Visualization at MillerKnoll, brings over a decade of experience in the contract furniture space with a focus on innovation. Similarly, Applin served as Director of eCommerce and Interactive Customer Experience at La-Z-Boy for nearly a decade and is presently Director of E-Commerce Strategy and Operations for Smith & Noble.

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Sales fall at office furniture giant HNI, but cost-cutting comes up big

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23 February, 2023

MUSCATINE, Iowa – Office furniture manufacturer HNI Corp. reported fourth quarter sales of $568.9 million, a 6% decline from last year.

But despite the decline, the company reported a 47% increase in earnings per share, primarily due to a major cost-cutting initiative and margin expansion strategy that began last quarter.

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Earnest Partners Now Owns 7.80% of Steelcase (SCS)

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14 February, 2023

Fintel reports that Earnest Partners has filed a 13G/A form with the SEC disclosing ownership of 7.18MM shares of Steelcase Inc. (SCS). This represents 7.8% of the company.

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Google taps UK firm to build furniture for its California headquarters

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14 February, 2023

Bisley, a Wales-based office furniture manufacturer, signed a contract with Google to develop bespoke workspaces for the Googleplex headquarters in California.

The Welsh firm will supply custom-made furniture to the tech giant’s campus in Mountain View as part of the project which is in the consultation phase, according to Business Live.

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Quantbot Technologies LP makes a $101,000 investment in HNI Co. (NYSE:HNI)

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10 February, 2023

The most recent report that Quantbot Technologies LP has submitted to the Securities and Exchange Commission (SEC) indicates that the company made a new investment in HNI Co (NYSE: HNI) during the third quarter of the fiscal year.

The corporation spent approximately $101,000 to acquire 3,826 shares of the business services provider’s stock, bringing the total cost of the transaction close to that figure.

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‘A promise realized’: MillerKnoll hopes to seize combined potential in 2023

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9 February, 2023

MillerKnoll leadership said it hopes 2023 will be the year the combined entity gets to embrace its market potential.

It’s been nearly two years since Herman Miller announced its acquisition of Knoll, seeking to amplify the combined business as a leader in modern design. The companies at the time said they hoped to catalyze the transformation of the home and office sector at a time of unprecedented disruption.

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Office, contract furniture giant Kimball sees big sales gain

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8 February, 2023

JASPER, Ind. – Contract furniture manufacturer Kimball has reported $183 million in second quarter net sales, a 21% increase over last year.

Kimball reported a 15% increase in workplace furniture sales, a 17% increase in health furniture sales and a 64% increase in hospitality sales.

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La-Z-Boy: Margin Recovery And Upside Potential

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8 February, 2023

Summary

  • Positive change in channel mix continues to support business operating margins.
  • La-Z-Boy continues to effectively pass the inflation rate on to the end consumer.
  • The company is trading below the fair level based on fundamental analysis in accordance with my model.
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