NeoCon 2023 (June 12-14) has a diverse lineup of events, exhibits, and installations curated by NeoCon, their partners, and exhibitors.

Steelcase Inc. will permanently lay off hundreds of employees in the U.S. and overseas in response to persisting inflationary pressures, continued decline in order volume and decreasing plant utilization.

Online frustration with Owen grew louder in the the nearly two weeks after we published our story, leading her to more formally apologize over email on Tuesday. We liked our draft letter better.

The American Society of Interior Designers (ASID) has released this year’s iteration of the State of Interior Design Industry report. The research, sponsored by Sherwin Williams, explores the advances and challenges seen in the industry’s workforce across three topics: people, firms and services.

Members of MillerKnoll's leadership team participated in a virtual fireside chat, hosted by Water Tower Research's Head of Consumer Hardlines Budd Bugatch and Senior Research Analyst Rex Henderson on Thursday, March 30, 2023.

MillerKnoll Inc. reported strong earnings and margin expansion for the third quarter of fiscal year 2023, despite softening economic conditions. Consolidated net sales were $984.7 million, reflecting a decrease of 4.4% on a reported basis and a decrease of 2.7% organically compared to the same period last year.

Steelcase Inc. reported fourth-quarter revenue of $801.7 million, representing a 6% increase from the prior year, driven by 14% growth in the Americas. The company also reported net income of $15.7 million and adjusted earnings per share of $0.19. For fiscal 2023, Steelcase recorded $3.2 billion of revenue, representing a 17% increase from the prior year, with a 23% increase in the Americas. The company expects modest organic revenue growth for fiscal 2024 and adjusted earnings per share of between $0.55 to $0.75.

HNI Corporation has entered into a definitive agreement to acquire Kimball International in a cash and stock transaction valued at approximately $485 million. Kimball International shareholders will receive $9.00 in cash and 0.1301 shares of HNI common stock for each share of Kimball International common stock they own. The combined company will have pro forma annual revenue of approximately $3.1 billion and pro forma adjusted EBITDA of approximately $290 million, inclusive of annual run-rate synergies, based on each company’s respective last reported 12 months. The transaction is expected to close by mid-2023, subject to the approval of Kimball International shareholders, the receipt of required regulatory approval, and the satisfaction of other customary closing conditions.

“I need to increase our global revenue by selling more of our stunning Italian furniture in the United States.”

Empire Office, Inc. has launched its new headquarters in New York City, designed with the architecture and design teams at VMAD to reflect industry trends and the new way of working. The space features touch-down spaces, open and flexible collaboration areas, and amenities to promote socialization and collaboration. It also showcases a variety of brands, custom millwork, and signature pieces. The company celebrated one-year post-acquisition of DeKalb Office in December, expanding its reach in the Southeastern U.S. and boasting 41 of the top 100 Fortune500 companies in the U.S.

HNI Corporation reported a full year sales of $2.362 billion and net income of $123.9 million for the year ended December 31, 2022, with fourth quarter sales of $568.9 million and net income of $16.3 million. The Corporation delivered strong earnings growth with 47% year-over-year growth in fourth quarter non-GAAP earnings per share, and solid margin expansion in both segments. Despite deteriorating demand conditions in both segments, non-GAAP EPS increased 35% year-over-year during 2022 and the Corporation has taken actions to help mitigate the short-term volume pressure and drive long-term margin improvement.

Loll Designs is expanding its contract team in anticipation of a new distribution model to make its products available in the commercial space as an open-line offering. The team will provide customers with the highest level of hands-on customer service, helping them to source and specify Loll Designs products for their projects. The company's mission is to enhance outdoor experiences through design-led and sustainability-focused products, and they specialize in indoor projects that demand sturdy, easy-to-clean furnishings.

Haworth Inc. reported a record-breaking global sales performance of $2.5 billion USD in 2022, a 27.5% increase from 2021. This was achieved through a diversified portfolio, design innovation, and the addition of Mikomax, a Polish manufacturer of Hushoffice collaborative booths. Haworth also made progress on their sustainability mission, with two of their ergonomic desk chairs achieving Cradle to Cradle Certified and a commitment to 100% renewable energy sourcing for electricity in manufacturing facilities by 2025.

DIRTT reported a decrease in the fourth quarter of 2022 revenues of 9% and 1% over the third quarter of 2022 and the fourth quarter of 2021, respectively, due to a reduction in volume. However, gross profit and gross profit margin increased due to realization of price increases and improved labor efficiency. Net loss for the quarter was $(5.9) million compared to $(16.0) million for prior year’s fourth quarter, and Adjusted EBITDA for the quarter was a $0.6 million or 1.4%, an improvement of $10.3 million from a $9.7 million loss or (22.7)% for the prior year’s fourth quarter.

After 29 years, and multiple expansions in Louisville, LINAK, a provider of electric linear actuation solutions, is committed to adding more value for customers and producing more products in the U.S. The third building, located at 2300 Stanley Gault Pkwy, adds an additional 160K square feet to the already 200K square feet the company currently has in two buildings on the campus.

While there has been a slight decrease in Bookings, growth in that area is forecasted to start trending up again over the next two quarters. Billings and Pipeline activity grew significantly. Backlogs are coming off highest point pre- and post-pandemic.

Storr Office Environments is proud to be Certified™ by Great Place to Work® for the first time. The prestigious award is based entirely on what current employees say about their experience working at Storr. This year, 85% of employees said it’s a great place to work – 28 points higher than the average U.S. company.

2nd quarter consolidated net sales increased 21% to $183 million from the year ago quarter, driven by growth in all three of the Company’s end markets.