HNI Corporation Provides Update on Q2 Order Trends, Announces Participation in Virtual Investor Events

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Monday, 01 June, 2020

HNI Corporation (NYSE: HNI) today provided updates on its response to the ongoing COVID-19 pandemic crisis, recent order trends, and debt level. The Corporation also announced its participation in multiple upcoming virtual investor events and introduced a new investor presentation.

Pandemic Response Update
“Our teams remain focused on protecting the health of our members while effectively managing the business in these challenging conditions. We have been able to remain open at our major facilities and meet customer needs. I would like to recognize our dedicated members, who embody the HNI spirit in these most challenging circumstances, and who have remained committed to each other, our communities, and our customers.

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Google is giving each employee $1,000 to buy new office furniture

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Thursday, 28 May, 2020

If your home office needs a little bit of sprucing up, you might want to see if Google is hiring.

Google CEO Sundar Pichai announced in a blog post the tech giant would give “each Googler an allowance of $1,000 USD, or the equivalent value in your country, to expense necessary equipment and office furniture,” as the company’s employees largely work from home during the coronavirus pandemic.

A Google spokesperson clarified Pichai’s comments, noting the money could be used for ergonomic chairs or a desk. The spokesperson declined to comment on how the money would be doled out to employees.

Read full article here: (FOX News Network, LLC)

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Production returns to the Bisley’s Newport factory

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Wednesday, 27 May, 2020

Newport-based office equipment manufacurer Bisley has restarted work at its factory in Caswell Way on the Reevesland Industrial Estate.

The firm, like many businesses, has been affected due to Covid-19 and the government’s announcement for all non-essential businesses to close or to work from home over the last nine weeks.

Major London operator buys business services firm out of administration

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Friday, 15 May, 2020

Smethwick- and Telford-based OfficeTeam has been bought by Paragon Group, after its parent company Spicers Office Team (SPOT) went into administration.

SPOT appointed administrators last month, when its private equity owner Better Capital announced it was looking to find a buyer for the business.

Paragon, a provider of customer communications, identification, graphics and business services, announced the deal, alongside the acquisition of Oldham-based ZenOffice.

Read full article here: (THEBUSINESSDESK.COM)

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Spicers Ireland appoints official liquidators

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Monday, 04 May, 2020

Following last week’s announcement that Spicers UK and OfficeTeam have filed a notice of intention to go into administration, it is with regret that we inform you that on 1st May 2020 a petition was presented before the High Court to wind up Spicers (Ireland) Limited and appoint official liquidators.

Read full article here: (CHANNEL INFO)

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Largest FDMC 300 contract furniture companies post sales gains

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Monday, 04 May, 2020

The office and contract furniture manufacturers had another strong year, with most posting solid gains in sales.

Overall in 2019, sales for the FDMC 300 group of companies grew 4.5 percent, to reach $57.171 billion.

This group of cabinet, millwork, furniture and store fixture manufacturers recorded an eighth consecutive year of sales expansion in 2019, the year just completed. Among the largest office and contract manufacturers, there were no changes in the order of the 10 largest companies in this market sector.

Read full article here: (WOODWORKING NETWORK)

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Stronger Together: How the A&D Community is Helping Others

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Thursday, 01 May, 2020

As the novel coronavirus quickly rattled the world, forcing people to change the way they live and work indefinitely, the architecture and design community sprang into action—finding ways to help others, even as they faced their own respective challenges. From donating textiles for the creation of medical masks, to outfitting field hospitals in New York City with showers, to envisioning prototypes for patient body shields and funding meals for food banks, the community continues to step up.

Read full article here: (Interior Design)

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Interior designers, furniture makers adapting to new socially distant norms

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Wednesday, 29 April, 2020

HIGH POINT, N.C. — As if the state’s economy hadn’t taken enough of a hit from COVID-19, local officials were forced to cancel what would have been the High Point Furniture Market, originally set for this past weekend. The internationally acclaimed gathering takes place twice a year and is the largest home furnishings industry trade show in the world where manufacturers introduce new products and the industry connects through continuing education and collaboration. The only other time in history it was canceled was a back in 1942, during the height of WWII. “Market” as it is commonly referred to by members of the trade, occupies over 10 million square feet of space throughout 180 buildings and accommodates 2000 exhibitors, and has an impact of over $6 billion, making it the largest single economic event in the state each year.

Read full article here: (NORTH STATE JOURNAL)

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Littleton furniture manufacturing business begins making plexiguards for offices

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Wednesday, 29 April, 2020

LITTLETON, Colo.– It looks like normal business at Xybix Systems in Littleton.

“We manufacture furniture for 911 dispatch centers all over North America,” Xybix President Barry Carson said.

But not all is normal.

“No, not the plexiglass. That’s a new addition,” Carson added.

The COVID-19 pandemic presented a new need for its customers, who are essential workers.

Read full article here: (THE DENVER CHANNEL)

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Knoll Reports First Quarter 2020 Results

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Monday, 27 April, 2020

(GLOBE NEWSWIRE) — Knoll, Inc. (NYSE: KNL), a leading designer and manufacturer of furnishings, textiles and fine leathers for the workplace and home, today announced results for the first quarter ended March 31, 2020.

First Quarter Highlights

Net Sales increased 2.2% to $340.0M
GAAP Gross Margin decreased 120 bps to 36.0%
Adjusted Gross Margin decreased 80 bps to 36.4%
GAAP Operating Expenses increased $16.3M to $110.9M or 32.6% of net sales
Adjusted Operating Expenses increased $8.9M to $100.9M or 29.7% of net sales
GAAP Operating Margin decreased 520 bps to 1.8% in the Office segment
GAAP Operating Margin decreased 480 bps to 11.0% in the Lifestyle segment
Adjusted EBITDA Margin decreased 110 bps to 9.0% in the Office segment
Adjusted EBITDA Margin decreased 400 bps to 15.3% in the Lifestyle segment
GAAP Net Earnings decreased $7.1M to $10.9M or 3.2% of net sales
Adjusted EBITDA decreased $8.4M to $33.2M or 9.8% of net sales
GAAP Diluted EPS decreased $0.15 to $0.22
Adjusted Diluted EPS decreased $0.01 to $0.40
This release contains non-GAAP financial measures. Please refer to the Reconciliations of Non-GAAP Financial Measures section for reconciliations to the most directly comparable GAAP measure.

Read full article here: (GLOBENEWSWIRE)