DUBUQUE, Iowa — Flexsteel says it faced and continues to face “many consumer and macroeconomic headwinds” that led to a decrease in third quarter fiscal year 2023 financial results ended March 31, 2023.
Flexsteel ranked #28 in the FDMC 300 list of top woodworking companies in North American with $544.3 million in sales. Net sales for the quarter decreased 29.5% to $99.1 million compared to $140.4 million in the prior-year quarter.
MONROE, Mich., May 02, 2023 (GLOBE NEWSWIRE) — Directors of La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, declared a quarterly cash dividend on the company’s common stock of $0.1815 per share. The dividend is payable June 15, 2023 to shareholders of record as of June 2, 2023.
DUBUQUE, Iowa – Flexsteel Inds. reported third quarter fiscal year 2023 financial results that showed net sales decreased 29.5% to $99.1 million compared with $140.4 million in the prior year quarter, in line with guidance provided previously.
“Despite the market challenges, we delivered net sales for the third quarter of $99.1 million, representing sequential quarter-over-quarter growth of 6.4% compared with the second quarter of this year,” said Jerry Dittmer, CEO.
DUBUQUE, Iowa–(BUSINESS WIRE)–Flexsteel Industries, Inc. (NASDAQ:FLXS) (“Flexsteel” or the “Company”), one of the largest manufacturers, importers, and marketers of residential furniture products in the United States, today reported third quarter fiscal year 2023 financial results.
To kick-off Design Within Reach’s summer season, your source for modern living has introduced The Journal, an evolved catalog which just landed in homes. The Journal is a place where DWR will delve deeper into modern design, art, culture, and creators. “It’s a place to connect with the diverse community of design lovers who are as passionate about modern design as we are,” says Omar Nobil, DWR’s new VP of Creative.
Canada-based workplace interior firm Teknion might consider exporting from India to APAC and Europe in near future as it plans to open its first manufacturing facility for office furniture in the country in 2024, Patrick Forget, managing director, APAC & EMEA, told ET.
The company has a large facility in Malaysia that supports the APAC region and now plans to start manufacturing in India.
On April 29, 2023, it was reported that Pacer Advisors Inc., an institutional investor, has increased its holdings in La-Z-Boy Incorporated by a staggering 28.8% during the fourth quarter of the previous year. The company now owns 265,569 shares of La-Z-Boy’s stock after purchasing an additional 59,404 shares within the period. This move has made Pacer Advisors Inc. own 0.62% of La-Z-Boy worth $6,060,000 as of their most recent filing with the Securities and Exchange Commission.
Ninety-five-year-old furniture brand La-Z-Boy has been in the midst of a major overhaul since 2021, when the company launched its Century Vision approach for strategic growth. Among the many goals is building a robust consumer insights ecosystem by 2027 that will allow the company to quickly adapt to changing shopping behavior and trends, remaining relevant and timely with consumers.
To do so, the company first needed to establish a consumer insights division, tapping two experts to lead the charge: Megan Battig, senior consumer insights manager, and Jorge Calvachi, director of consumer insights. They created a growth learning plan, identifying a strategy to learn who the consumer is, what they want, and how they shop.
Most consumers know IKEA for their giant stores, cafeteria snacks, and furniture that can be difficult to put together.
Now, the Swedish company will invest $2.2 billion into generating more business in the United States – the biggest investment since it started operating in the U.S. nearly 40 years ago. The goal of the investment is to make it easier for shoppers in the U.S. to get deliveries from IKEA, open more stores across the country, and offer home decor and goods at a price point that’s friendly for more customers.
StockNews.com began coverage on shares of Flexsteel Industries (NASDAQ:FLXS) in a report released on Thursday. The brokerage set a “buy” rating on the stock.
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