Penn Capital Reduces Stake in Steelcase Inc. by 30.2%: Insider Sales Raise Investor Concerns

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12 June, 2023

On June 11, 2023, it was announced that Penn Capital Management Company LLC had reduced its stake in Steelcase Inc. by a staggering 30.2% in the fourth quarter. According to the disclosure with the Securities and Exchange Commission (SEC), Penn Capital owned approximately 0.21% of Steelcase worth $1,683,000 at the close of the most recent quarter after selling 102,976 shares during the period. While this news may have caused alarm for some investors in Steelcase Inc., there is more to this story.

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Virco Reports 8.7% Increase in First Quarter Revenue and 16.4% Increase in “Shipments + Backlog”

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12 June, 2023

TORRANCE, Calif., June 12, 2023 (GLOBE NEWSWIRE) — Virco Mfg. Corporation (NASDAQ: VIRC), the largest manufacturer and supplier of movable furniture and equipment for educational environments in the United States, today reported financial results for the quarterly period ended April 30, 2023 (first quarter of fiscal 2024).

Net Sales were $34.9 million for the first quarter of fiscal 2024, an 8.7% increase from $32.1 million for the same period of the prior fiscal year.

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Cactus Opens The Cash Flow Wellhead With Flexsteel Acquisition

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12 June, 2023

Cactus (NYSE:WHD) expected the acquisition of Flexsteel to be accretive in the first year, and the execs were more than right. The Q1 results were good enough but came with solid guidance for Q2, which is now improved. The company issued a new investor presentation outlining the company’s progress, and the progress is good.

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Amalgamated Bank Reduces Stake in MillerKnoll, Inc. Amid COVID-19 Impact

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Friday, 9 June 2023

Amalgamated Bank, a leading institutional investor, has reduced its stake in MillerKnoll, Inc. (NASDAQ:MLKN) by 31.5% during the fourth quarter, according to its recent filing with the Securities and Exchange Commission. The investor held 34,433 shares of the organization’s stock after selling 15,818 shares in Q4. This move has been made at a time when MillerKnoll is grappling with the impact of COVID-19 on global operations.

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Humanscale appoints long-time design partner to director post

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9 June, 2023

NEW YORK — Humanscale has appointed Todd Bracher as creative director for the global brand. In his new role, he will lead creative and strategic positioning across Humanscale’s branding and product development.

Bracher has served as a strategic advisor and design partner for more than 15 years, helping to create several products and global activations, including the award-winning Path chair.

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La-Z-Boy Announces Timing of Fiscal 2023 Fourth Quarter Earnings Release/ Conference Call

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8 June, 2023

MONROE, Mich., June 08, 2023 (GLOBE NEWSWIRE) — La-Z-Boy Incorporated (NYSE: LZB) will report its fiscal 2023 fourth quarter results after the close of trading on the New York Stock Exchange on Tuesday, June 20, 2023, and will hold its quarterly investor conference call at 8:30 a.m. Eastern Time the following day, Wednesday, June 21, 2023.

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Allsteel furnishes interior of new 100% self-sufficient building

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8 June, 2023

MUSCATINE, Iowa — The Stanley Center for Peace and Security unveiled its new 100% self-sufficient building that features furnishings from Allsteel that were redesigned and tweaked to meet sustainability requirements.

When looking to complete the interior of The Stanley Center, the team turned to fellow Muscatine-native workplace furnishings brand, Allsteel. Finding a furniture solution that contributed to the overall mission of the Living Building certification was one the Allsteel team readily accepted.

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Steelcase Receives Gold Rating from EcoVadis for Industry-Leading Work Caring for People and the Planet, Earns Perfect Score on Environmental Scorecard

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8 June, 2023

GRAND RAPIDS, Mich., June 08, 2023 (GLOBE NEWSWIRE) — Steelcase announced today it was awarded a Gold rating from EcoVadis for the third consecutive year for its industry-leading commitments to the wellbeing of people and the planet. The company earned 100 percent on the EcoVadis environmental scorecard and continues to be ranked in the top two percent of companies in the global furniture manufacturing industry.

EcoVadis is the world’s largest and most trusted provider of business sustainability ratings, which are awarded based on the four themes of environment, labor and human rights, ethics and sustainable procurement.

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Steelcase subsidiary goes all-in on small business with new showroom

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8 June, 2023

GRAND RAPIDS, Mich. – Height-adjustable workplace furniture specialist AMQ has unveiled a new showroom in West Michigan. With the new space, along with its partnership with West Elm, the company is targeting small-to-medium-sized business, which it says represents a growing portion of the workforce.

“AMQ’s commitment to small and medium sized businesses is what has driven us to work so hard over the past six months to create furnishings that address these employees’ specific needs,” said Ryan Vander Ploeg, vice president of marketing product development. “Although we regularly see and hear anecdotal evidence that SMBs embrace a slightly different work style from their large company counterparts, we wanted to be driven by the data when it came to developing products – and designing a workspace – that meets their needs.”

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MillerKnoll brands launch products, exhibits during Fulton Market Design Days

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8 June, 2023

ZEELAND, Mich. — MillerKnoll is bringing its collective of brands to life through Design Works, a multiple-day event including product launches, exhibits and programs set for June 12-14 during Fulton Market Design Days in Chicago.

“We are thrilled to partner with our MillerKnoll dealer network to welcome customers to our showrooms and retail space in Fulton Market again this year,” said Andi Owen, president and CEO of MillerKnoll. “This year, our collective of brands will launch innovative new products and showcase forward-thinking spaces that best address the critical questions about the future of work and home. We have invited thought leaders across our channels and verticals to meet and share their findings at events throughout the week.”

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