DUBUQUE, Iowa — Flexsteel Industries recently announced several investments aimed at accelerating their growth within the independent retail channel.
“Flexsteel’s been around for almost 130 years, and the investments we’re making now will ensure our continued success moving forward, ” said Jerry Dittmer, Flexsteel president and CEO.
Royce & Associates LP lessened its position in Flexsteel Industries, Inc. (NASDAQ:FLXS) by 56.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,000 shares of the company’s stock after selling 90,000 shares during the quarter. Royce & Associates LP owned approximately 1.30% of Flexsteel Industries worth $1,083,000 as of its most recent filing with the SEC.
CHARLOTTE, N.C. – July 26, 2021 – MicroD, industry leader for furniture website technology, is thrilled to announce that Flexsteel’s new website and digital brand experience has been unveiled. Flexsteel has been an industry leader with its advancing product and approach to the retail channel and digital growth. The furnishings manufacturer aimed to reimagine its existing website to offer more capabilities and compelling content that connects its retailers and consumers for a superior website experience.
Furniture giant Flexsteel, number 28 on the FDMC 300, reported strong sales increases for the quarter ending March 31, 2021.
Net sales increased nearly 20 percent to $118.4 million compared to $98.8 million over the same period last year. Organic net sales, excluding its discontinued vehicle seating and hospitality lines, increased 32.9 percent. Gross margin increased to 19.5 percent over last year’s 14.0 percent. Record backlog growth of 131 percent was also seen.
A space in the Millwork District’s Schmid Innovation Center now houses a place for designers to collaborate on furniture designs.
Designers with Flexsteel Industries began working last week in the company’s new Innovation Center, 900 Jackson St., less than a mile from the company’s headquarters in the Port of Dubuque. The design team uses the space to test out furniture and design prototypes that meet current customer trends.
A group of former Flexsteel Industries employees is suing the company, alleging it used the pandemic to collect millions in federal aid while newly installed executives enriched themselves and denied severance pay to hundreds of laid-off, long-term workers.
The six plaintiffs, including three that worked in Dubuque, seek class-action status for their lawsuit, filed recently in federal court. They claim the Dubuque-headquartered company has violated the Iowa Wage Payment Collection Act, as well as the federal Worker Adjustment and Retraining Notification Act of 1988 and Employee Retirement Income Security Act of 1974.
An investigation on behalf of investors in Flexsteel Industries, Inc. (NASDAQ:FLXS) shares over potential wrongdoing at Flexsteel Industries, Inc. was announced.
This press release was orginally distributed by SBWire
San Diego, CA — (SBWIRE) — 02/01/2021 — An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Flexsteel Industries, Inc.
Conference call and webcast to be held on Tuesday, January 26, 2021
Flexsteel Industries, Inc. (NASDAQ:FLXS) (“Flexsteel” or the “Company”), one of the largest manufacturers, importers and online marketers of furniture products in the United States, announced today that it will issue its second quarter 2021 financial results after market close on Monday, January 25, 2021.
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