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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Neocon Review

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Monday, 27 June, 2022

Quoted from Worktech Academy:

The big office suppliers announced they were back in business and our man at the Mart, furniture industry veteran John Sacks of JSA, reports a number of interesting trends. These include more residential-style ranges with soft sofas, perhaps a nod to two years of home working; a rise in sit-stand workstations as a reflection of a growing focus on health and wellbeing; and the appearance of outdoor commercial furniture which extols the benefits of fresh air. Interesting stuff. You can read John Sacks’ Neocon review here.

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Steelcase Reports First Quarter Fiscal 2023 Results

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Wednesday, 22 June, 2022

  • Strong growth in revenue and orders included broad-based strength in Americas and EMEA segments
  • Significant inflation continued to impact results, driving additional pricing actions
  • Acquisition of Halcon supports growth strategies with uncompromising design and master craftsmanship
  • Second quarter outlook anticipates seasonal revenue improvement with increased inflationary pressures and continued supply chain challenges

GRAND RAPIDS, Mich, June 22, 2022 (GLOBE NEWSWIRE) — Steelcase Inc. (NYSE: SCS) today reported first quarter revenue of $740.7 million, a net loss of $11.4 million, or $0.10 per share, and an adjusted loss per share of $0.05. In the prior year, Steelcase reported revenue of $556.6 million and a net loss of $28.1 million, or $0.24 per share, and had an adjusted loss per share of $0.22.

Revenue and order growth compared to the prior year were as follows:

Read full article here: (GLOBE NEWSWIRE)

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Staples Canada’s transformation continues with acquisition of leading Canadian office supplies dealers Denis Office Supplies and Furniture and Supreme Basics

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Wednesday, 08 June, 2022

RICHMOND HILL, ON, June 8, 2022 /CNW/ – Staples Canada ULC, The Working and Learning Company, through its business-to-business division Staples Professional Inc. announces the acquisition of two Canadian office supplies dealers, Denis Office Supplies and Furniture and Supreme Basics.

Founded in 1972, Denis Office Supplies and Furniture services business customers throughout Quebec and Atlantic Canada through its network of stores/showrooms and Fulfillment Centres. Supreme Basics services business customers in the Prairies and Ontario with specialty office supplies and educational products. Both companies differentiate themselves with an outstanding commitment to customer service.

Read full article here: (CISION CANADA)

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Steelcase and Frank Lloyd Wright Foundation Announce New Creative Collaboration

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Wednesday, 01 June, 2022

Steelcase (NYSE: SCS) today announced a new relationship with the Frank Lloyd Wright Foundation, through which they will revisit, reinterpret and reintroduce Wright’s designs, as well as co-create novel concepts rooted in his principles to provide products that enhance how we live and work today.

Read full article here: PRNewswire

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Steelcase Named a Best Employer for New Graduates by Forbes

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Thursday, 26 May, 2022

GRAND RAPIDS, Mich., May 26, 2022 (GLOBE NEWSWIRE) — Steelcase (NYSE: SCS) is pleased to announce it has been included on the Forbes list of Best Employers for New Graduates, ranking 43rd out of 300 organizations recognized. This marks the first time Steelcase has been included on the Forbes list. The Best Employers for New Grads list was based on an independent survey of more than 20,000 U.S. young professionals from companies employing at least 1,000 people within the U.S.

Read full article here: (GLOBE NEWSWIRE)

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Steelcase says acquisition will complement its current portfolio of wood products.

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Friday, 06 May, 2022

GRAND RAPIDS, Mich. – Office furniture giant Steelcase has acquired Halcon, a Minnesota-based designer and manufacturer of tailored wood furniture for the workplace, for $127.5 million.

Steelcase says acquisition will complement its current portfolio of wood products.

Read full article here: (FURNITURE TODAY)

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Steelcase to Acquire HALCON, Maker of Finely Crafted Wood Furniture for the Modern Workplace

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05 May, 2022

Steelcase Inc. announced today it has signed a definitive agreement to acquire HALCON, a Minnesota-based designer and manufacturer of precision-tailored wood furniture for the workplace. This acquisition will complement the current portfolio of Steelcase wood products, offering uncompromising design and master craftsmanship to A+D professionals and customers.

Established in 1977, HALCON is a leader in custom wood and executive-level tables, credenzas, and desks. With a culture of quality and innovation, the company’s portfolio features patented award-winning furniture collections for today’s private office, open-plan, and collaborative spaces. HALCON’s range of sophisticated solutions elevate the worker experience with thoughtful and innovative details.

Read full article here: (GLOBENEWSWIRE)

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