Ouch.... The last quarter takes a pound of flesh from the Big 4

Posted by Expert Gadget Reviewer on Thursday, 22 October 2009

The recession may be technically over, but you wouldn't know it by reviewing the most recently reported quarterly results from the largest domestic office furniture manufacturers:

  • HNI (Parent company of Allsteel): quarterly sales down 31.5%
  • Herman Miller: "Consolidated" (read slashed) another 150 jobs in October, and announced their quarterly sales down 32.4% 
  • Steelcase quarterly sales down 35.9%
  • Knoll quarterly sales down 36.1%
What does this all mean? Continued deep discounting on large (and not so large) projects, and a feeding frenzy over any project on the street.

Case in point, there was an estimated 40 people representing 29 different office furniture dealers and/or manufacturers at a mandatory project walk-through this past Monday.  For the time being, I don't think I'm going too far out on a limb to say it remains a "buyer's market" for office furniture.