BUSINESS NEWS: The economy: looking ahead

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Friday, 30 September, 2022

In these turbulent times, conflicting information really doesn’t help when you need to be sure of moving your business forward. War, shortages and talk of inflation and recession create confusion. What should we believe? What should we dismiss as sensationalism? All too often, individual factors are taken out of context and when given perspective through real insight, positives start to emerge. It’s time for a considered look at what lies ahead.

Read full article here: (FURNITURE JOURNAL MAGAZINE SEPTEMBER 2022 Page 5)

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Steelcase to reduce spending and lay off 180 salaried positions

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Thursday, 22 September, 2022

GRAND RAPIDS, Mich. – A decline in incoming orders and lower than expected return-to-offìce trends in the Americas, has led Steelcase Inc. to implement a further reduction of planned spending including a reduction of approximately $20 million of annualized spending and the elimination of up to 180 salaried positions across America’s core business and corporate functions.

“In response to inflation and supply chain challenges throughout this year, we have been pulling back on our planned level of incremental spending while staying invested in our most critical strategic initiatives,” said Dave Sylvester, senior vice president and CFO, of Steelcase.

Read full article here: (WOODWORKING NETWORK)

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West Elm and Office Furniture Startup Branch Announce New Retail Partnership

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13 September, 2022

BROOKLYN, N.Y.–(BUSINESS WIRE)–Global design company, West Elm, a portfolio brand of Williams-Sonoma, Inc. (NYSE: WSM), the world’s largest digital-first, design-led and sustainable home retailer, announced today, a new partnership with premium office furniture startup, Branch. The partnership, which is Branch’s first with a major retailer, will provide both commercial and residential West Elm customers access to a curated assortment of high-quality, ergonomic office furniture designed to accommodate the needs of both at-home workers and small to medium-sized businesses.

Read full article here: BUSINESS WIRE

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IKEA Canada Extends the Feeling of Home into New Office Furniture Collection

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10 August, 2022

IKEA and Dentsu Creative help Canadians weather the change of leaving home to go back to the office.

For many, it’s a return to offices too. However, during the past couple of years, we’ve become used to not just working from home, but a feeling of living at work too.

For many, working from home has been a great comfort, working in our own spaces, enjoying the feeling of home during the workday and for many families and caregivers, a solution to competing responsibilities that has enabled a balanced schedule and a more balanced life.

Read full article here: LBBONLINE

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Steelcase Named a Best Employer for Women by Forbes

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Monday, 01 August, 2022

(GLOBE NEWSWIRE) — Steelcase (NYSE: SCS) is pleased to announce it has been included on the 2022 Forbes List for Best Employers for Women, ranking 13 out of 400 organizations recognized.

The Best Employers for Women have been identified in an independent survey of 50,000 U.S. employees working for companies employing at least 1,000 people within the U.S. The sample included more than 30,000 women. The survey was conducted using several online access panels, providing a representative sample of the U.S. workforce.

Read full article here: (GLOBENEWSWIRE)

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Herman Miller has partnered with G2 Esports

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Thursday, 21 July, 2022

(Pocket-lint) – Herman Miller has announced a partnership with G2 Esports to not only supply the teams with equipment but also work on more gamer-first designs.

The luxury high-end furniture company has entered into an exclusive partnership with one of the most well-known esports brands around.

Herman Miller has said it will be G2‘s official chair partner – providing all the organisation’s team players, creators and more with its “best-in-class” Herman Miller X Logitech G Embody gaming chairs. But will also be supplying both gaming desks and monitor arms as well.

Read full article here: (POCKET-LINT)

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HNI Corporation Announces Sale of Lamex Office Furniture Business

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Wednesday, 20 July, 2022

MUSCATINE, Iowa–(BUSINESS WIRE)–HNI Corporation (NYSE: HNI) today announced it has completed the sale of its China– and Hong Kong–based Lamex office furniture business. The business was acquired by Kokuyo Co., Ltd. for 75 million US dollars, subject to standard post-closing adjustments. Kokuyo is a leading manufacturer and provider of office furniture in Japan and across Asia.

Read full article here: (BUSINESS WIRE)

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MillerKnoll, Inc. Reports Fourth Quarter Fiscal 2022 Results

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Wednesday, 29 June, 2022

  • Strong sales growth of 77% over the prior year, up 23% organically
  • Sequential operating margin improvement of 230 basis points
  • Continued progress with the integration of Knoll
    • 66 million of run-rate cost synergies captured to date
    • Company remains confident in ability to deliver $120 million of run-rate cost synergies within three years of closing
  • Formal launch of the contract dealer network in North America positions MillerKnoll (NASDAQ: MLKN) for future growth
Read full article here: (CISION PR NEWSWIRE)

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officeinsight 2022 – Giving Voice To Those Who Create Workplace Design & Furnishings

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Monday, 27 June, 2022

Quoted from officeinsight Magazine:

When we met John Sacks, a consultant and writer from London in the NeoCon Press Room we asked what he thought of this year’s Neocon. He said, “My view is that NeoCon, with all the changes that have gone on, has kept its spirit – it’s exciting, it’s relevant and the atmosphere is extremely positive. This year with the effects of COVID mostly behind us, there’s the added excitement of seeing people you haven’t seen for two or three years, and the sense of enjoyment is every evident this year.” Well said Mr. Sacks.

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Though better than expected, Steelcase sales burdened by inflation

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23 June, 2022

FurnitureToday Contract and office furniture giant Steelcase reported first quarter revenue of $740.7 million, a loss of $11.4 million over last quarter. Nevertheless, the performance was better than expected and well above last year’s first quarter revenue of $556 million.

“We’re pleased with our revenue growth of 33 percent (over last year), which was better than expected due to stronger incoming orders and improved order fulfillment from the adjustments we’ve made to mitigate the impact of supply chain disruptions,” said Sara Armbruster, president and CEO. “In each of the most recent eight months of reported data, our year-over-year order growth in the Americas has outpaced our industry.

Read full article here: FURNITURETODAY

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