Stockholm Furniture Fair 2023 Review
Here is my Stockholm Review in the Office Insight magazine
https://officeinsight.com/events/73881
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PW Neocon23
Earnest Partners Now Owns 7.80% of Steelcase (SCS)
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.
Google taps UK firm to build furniture for its California headquarters
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.
Quantbot Technologies LP makes a $101,000 investment in HNI Co. (NYSE:HNI)
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.
‘A promise realized’: MillerKnoll hopes to seize combined potential in 2023
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.
La-Z-Boy (LZB): Retail Focus And Weak Cash Flow Could Spell Slowdown Ahead
8 February, 2023
La-Z-Boy’s (NYSE:LZB) strong return and growth in the past five years is a result of both its strong brand and effective sales network and strategy. This strategy, however, may not work well in a weak consumer sentiment environment. With its weakening free cash flow, the company could have a slowdown in its growth and earnings more than currently priced in by the market. We see LZB stock’s recent jump as rich in premium and a chance to sell.
Office, contract furniture giant Kimball sees big sales gain
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.
La-Z-Boy: Margin Recovery And Upside Potential
8 February, 2023
The company’s revenue grew by 31% YoY to reach a record $252 million, while same-store-sales grew by +25% YoY. In addition, due to business growth, operating margins in the retail segment increased from 12.5% in 2Q21 to 16.5% in 2Q22.
Office, contract furniture giant Kimball sees big sales gain
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.
Greg Stoner Joins Indiana Furniture’s Board of Directors
8 February, 2023
Indiana Furniture announced Greg Stoner has been elected to their board of directors. Stoner will bring decades of experience in corporate leadership and manufacturing, and a long track record of driving innovative and diverse teams globally.
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