Janney Montgomery Scott LLC, a reputable financial services firm, has recently raised its stock holdings in La-Z-Boy Incorporated (NYSE:LZB) by an impressive 37.8% in the fourth quarter. The company now owns 20,538 shares of the furniture manufacturer’s stock, worth $469,000 according to its latest filing with the Securities & Exchange Commission.
Steelcase (NYSE:SCS) disclosed:
On May 3, 2023, in response to persisting inflationary pressures and decreasing plant utilization in Europe, the Middle East and Africa (“EMEA”), the Board of Directors of Steelcase Inc . (the “Company”) approved plans for workforce reductions in France. These plans involve the reduction of approximately 40 to 50 salaried roles. The Company expects to incur approximately $10 million to $13 million in pre-tax restructuring charges in connection with these actions, consisting of cash severance payments and payment of other separation-related benefits. The Company has initiated procedures with the French central works council and will work closely with the French Labor Administration for approval of these actions. Depending on the timing of such approval, the actions are expected to be completed by the end of the Company’s fiscal year 2024, with most of the departures expected to be completed by the end of the third quarter of the Company’s fiscal year 2024. The Company anticipates annualized savings from these actions will be approximately $4 million to $5 million when fully implemented.
Item 2.05. Costs Associated with Exit or Disposal Activities.
On May 3, 2023, in response to persisting inflationary pressures and decreasing plant utilization in Europe, the Middle East and Africa (“EMEA”), the Board of Directors of Steelcase Inc. (the “Company”) approved plans for workforce reductions in France. These plans involve the reduction of approximately 40 to 50 salaried roles. The Company expects to incur approximately $10 million to $13 million in pre-tax restructuring charges in connection with these actions, consisting of cash severance payments and payment of other separation-related benefits. The Company has initiated procedures with the French central works council and will work closely with the French Labor Administration for approval of these actions. Depending on the timing of such approval, the actions are expected to be completed by the end of the Company’s fiscal year 2024, with most of the departures expected to be completed by the end of the third quarter of the Company’s fiscal year 2024. The Company anticipates annualized savings from these actions will be approximately $4 million to $5 million when fully implemented.
A clearer picture of the financial state of the recently bankrupt Office Interiors of Virginia is coming into focus.
New filings in the Henrico-based company’s Chapter 11 bankruptcy reorganization proceedings, which began April 16, show the 35-year-old office furnishings firm has assets of $1.8 million and $3.84 million in liabilities, $2 million of which is owed to secured creditors.
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.
PTI Office Furniture is offering a range of new and used furniture for both residential and commercial purposes in New Jersey.
The company boasts a showroom spread out over 25000 sq feet with a constantly updated and refreshed inventory to meet the demands of home offices and commercial establishments in New Jersey and surrounding areas. The fully stocked facility helps customers explore the company’s furniture offerings and make informed decisions at their leisure. In fact, the New Jersey furniture store’s motto “You Have To See It To Believe It” perfectly encapsulates its philosophy of giving customers a hands-on experience to make the right choice for themselves.
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.
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