HNI CORPORATION REPORTS EARNINGS FOR FOURTH QUARTER AND FISCAL YEAR 2020

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Monday, 01 March 2021

MUSCATINE, Iowa (March 1, 2021) – HNI Corporation (NYSE: HNI) today announced sales for the full year ended January 2, 2021 of $1.955 billion and net income of $41.9 million. GAAP net income per diluted share was $0.98, compared to $2.54 in the prior year. Non-GAAP net income per diluted share was $1.79, compared to $2.59 in the prior year. GAAP to non-GAAP reconciliations follow the financial statements in this release.

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Haworth shuts down North Carolina furniture plant in consolidation effort

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Thursday, 25 February 2021

HIGH POINT, N.C. – Office furniture giant Haworth – number 7 on the FDMC 300 – has closed one of its furniture manufacturing facilies in North Carolina. The closure is part of a consolidation effort.
“This decision was motivated by the strategic intent of consolidating our North Carolina operational footprint and was accelerated by current economic conditions,” the company said in a written statement. “The High Point facility and employees have a rich history of manufacturing Haworth furniture and we are grateful for their contributions.”

Kimball International Inc. (KBAL) Soars 2.3% on February 24

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Wednesday, 24 February 2021

Kimball International Inc. (KBAL) had a good day on the market for Wednesday February 24 as shares jumped 2.3% to close at $12.92. About 255,806 shares traded hands on 2,763 trades for the day, compared with an average daily volume of n/a shares out of a total float of 36.88 million. After opening the trading day at $12.73, shares of Kimball International Inc. stayed within a range of $13.00 to $12.60.

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HNI Corporation (HNI) Soars 3.46% on February 24

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Wednesday, 24 February 2021

HNI Corporation (HNI) had a good day on the market for Wednesday February 24 as shares jumped 3.46% to close at $37.67. About 243,951 shares traded hands on 3,249 trades for the day, compared with an average daily volume of n/a shares out of a total float of 42.71 million. After opening the trading day at $36.88, shares of HNI Corporation stayed within a range of $37.72 to $36.38.

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Herman Miller Inc. (MLHR) Soars 3.07% on February 24

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Wednesday, 24 February 2021

Herman Miller Inc. (MLHR) had a good day on the market for Wednesday February 24 as shares jumped 3.07% to close at $39.60. About 288,352 shares traded hands on 3,873 trades for the day, compared with an average daily volume of n/a shares out of a total float of 58.98 million. After opening the trading day at $38.64, shares of Herman Miller Inc. stayed within a range of $39.85 to $38.54.

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Trendway adds independent reps in Canada

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Tuesday, 23 February 2021

Trendway added a pair of independent sales rep groups in Ontario and Quebec, continuing its expansion into Canada.

The Holland-based furniture manufacturer, which is part of Itasca, Illinois-based Fellowes Brands through its Fellowes Contract Interiors division, said last week that it added Hamilton, Ontario-based Green River Furniture and Montreal, Quebec-based Major Design Furniture to its sales team as independent rep groups.

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La-Z-Boy ramps production to shorten up to 9-month lead times

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Tuesday, 23 February 2021

Dive Brief:

  • La-Z-Boy is working to cut down “unprecedented” lead times of five to nine months by increasing production capacity “as quickly as possible,” CEO Kurt Darrow said on an earnings call this month.
  • The company said it is communicating with partners in Asia and in the U.S. to address supply disruptions. It also opened a new manufacturing facility in Mexico that started production in December, which it anticipates will ramp up inventory over the first half of the year, and temporarily reopened portions of its Newton, Mississippi, assembly plant last year. Weekend and third-shift production lines that were started last year continued operation at all the retailer’s U.S. plants throughout Q3 2020.
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La-Z-Boy elevates CFO Melinda Whittington to CEO

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Tuesday, 23 February 2021

Furniture manufacturer La-Z-Boy Incorporated has named its chief financial officer Melinda D. Whittington to succeed retiring President and Chief Executive Officer Kurt L. Darrow, effective April 25.

Darrow will remain chairman of the Monroe, Michigan-based company’s board of directors. Whittington also was elected to serve on the board.

Bob Lucian, the company’s vice president of finance, will succeed Whittington in the role of CFO.

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Net zero Steelcase announces goal to be carbon negative by 2030

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Sunday, 21 February 2021

After achieving carbon neutrality across its operations, Steelcase is now targeting new goals to be carbon negative by 2030.

Motivated by the urgency of climate change, Steelcase expanded upon its existing renewable energy commitments with the purchase of carbon offsets. In 2020, Steelcase achieved a reduction of more than 30 per cent in greenhouse gas emissions over the previous ten years. While the carbon neutral (net zero) target has been achieved by removing as much carbon as it emits, the company is now taking its commitment further with a goal to become carbon negative by 2030, which it plans to accomplish by reducing emissions across its operations with targets in line with climate science.

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La-Z-Boy’s CFO Prepares to Become CEO Amid Surge in Furniture Buying

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Friday, 19 February 2021

La-Z-Boy Inc.’s finance chief is preparing to take the furniture maker’s helm as the company confronts a surge in demand and faces longer-term questions on how it will continue growing after the pandemic home-improvement craze ends.

The Monroe, Mich.-based company, known for its recliners, this week named Melinda Whittington its chief executive officer, succeeding longtime CEO Kurt Darrow, who is retiring. The changes take effect on April 25.

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