Ikea UK profits fall by almost a fifth despite 12% increase in sales

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19 December, 2022

Ikea’s profits have fallen by almost a fifth in the UK despite a 12% increase in sales amid the impact of soaring costs, as the company said it could not rule out further price increases in the new year.

The world’s largest furniture retailer said sales had benefited as shoppers returned to stores in the year to 31 August, while online takings dropped to 35% of annual sales, compared with 45% a year earlier when pandemic restrictions drove up internet shopping.

The Swedish retailer fared well as shoppers continued to seek out more kit for working from home, while the reopening of stores led to more ad hoc purchases.

Read full article here: THE GUARDIAN

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HNI: Moving To Neutral

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19 December, 2022

HNI’s revenue should be impacted in the near to medium-term due to the slowdown in the housing and R&R industry, as well as softness in the corporate profits.

Read full article here: SEEKING ALPHA

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Twitter’s Office Is Having a Fire Sale of Designer Furniture: Eames, Knoll & More

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19 December, 2022

The troubled social media company is auctioning off some corporate assets, and the bidding starts at just $25.

Twitter has been in the news an awful lot since Elon Musk’s takeover of the company this fall. From mass firings and an increase in hate speech on the platform to an advertiser exodus and policies that change seemingly on a whim, Twitter can’t seem to stay out of the headlines. But, it looks like you may be able to personally gain from the chaos happening at the social media company, as a massive collection of high-end furniture from Twitter’s corporate offices is heading to auction.

Read full article here: GEAR PATROL

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Illinois brothers bring metal, wood together with office furniture

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16 December, 2022

You won’t confuse iRCustom with any other furniture maker.

Its 4,000-sq.-ft. shop may be smaller than some showrooms at IKEA, the world’s largest furniture retailer with three stores within an hour’s drive of the Lake Zurich, Ill., business. But that’s OK.

“We’re not looking to be IKEA,” said co-owner Rob DiVito.

With their large, asymmetrical, colorful designs made from both wood and metal, iRCustom’s office desks and tables stand out from crowd.

Read full article here: (THE FABRICATOR)

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Fujitsu donates office furniture to Cambodian public institutions to promote sustainable practices – Tokyo

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15 December, 2022

Fujitsu today announced that it donated office furniture that is no longer being used including desks, chairs and cabinets to Cambodian public institutions through the Cambodian Embassy in Japan.

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Modern furniture specialty retailer opens 1st East Coast showroom

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14 December, 2022

BOISE, Idaho — Modern and contemporary furniture retailer Scandinavian Designs opened its first East Coast showroom earlier this month in Waldorf, Md.

The Boise, Idaho-based retailer has 44 showrooms across 14 states. Prior to opening in Maryland, its easternmost store was in Indianapolis.

Read full article here: FURNITURE TODAY

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Flokk brand Connection opens new state of the art manufacturing facility and offices in the UK

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14 December, 2022

Connection, the latest brand to join European office furniture giant Flokk group have opened a bespoke designed and built manufacturing facility, housing warehouses and offices in Mirfield, Yorkshire. Attending the opening were Lars Røiri, CEO of Flokk and René Sitter, Senior Vice President, Central Europe, as well as key stakeholders to celebrate with the Connection team.

The new 45,000 sq ft facility is furnished with a state-of-the-art design and upholstery facility as well as an advanced manufacturing line, designed with the intent to contribute hugely towards the sustainability goals of Connection and the wider Flokk group.

Read full article here: WORKPLACE INSIGHT

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Ethosource Office Furniture Announces Promotions Amid Extraordinary Company Growth In 2022

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14 December, 2022

Ethosource Office Furniture, based in Morgantown along with offices in Reading and King of Prussia PA, announces the promotion of several executive level staff members as the company celebrates their highest grossing year in sales to date.

In a year that was challenging for many businesses, Ethosource experienced nearly 40% growth due to their ability to navigate the challenges of the supply chain and provide solutions for clients that allowed them to meet timelines and occupancy needs.

Read full article here: PR NEWSWIRE

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La-Z-Boy celebrating 50 years in Dayton

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10 December, 2022

La-Z-Boy is celebrating its 50th year in Dayton this year and held a celebration on Wednesday, honoring the company’s employees and marking a milestone for the worldwide furniture manufacturer.

Read full article here: THE HERALD NEWS

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La-Z-Boy Announces Planned Retirement of Otis Sawyer, President, La-Z-Boy Portfolio Brands; Names Tj Linz as Successor

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9 December, 2022

MONROE, Mich., Dec. 08, 2022 (GLOBE NEWSWIRE) — La-Z-Boy Incorporated (NYSE: LZB), a global leader in residential furniture, today announced the planned retirement of Otis Sawyer, President, La-Z-Boy Portfolio Brands. Tj Linz, President, La-Z-Boy Retail, will assume Sawyer’s responsibilities at the end of April 2023, the start of the company’s fiscal 2024 year. Sawyer will remain with the company through June 2023 to ensure a seamless transition.

Read full article here: YAHOO! FINANCE

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