Barron's reports: "Steelcase and Herman Miller both beat earnings expectations after the market closed, and shares of both office furniture companies rose after-hours... Office furniture is hot right now, even if the unemployment rate in the U.S. remains high. Apparently, employers are increasing their spending more on the furniture than on the people who sit on the furniture." The Editor at Large also picked up the story, with quotes from Steelcase and Herman Miller CEOs. More news and links below.
DESIGN NEWS OF THE DAY
• Furniture is Hot! Steelcase, Herman Miller Jump After-Hours | Barron's
• Office Furniture Sales are on the Rise Despite Unemployment | Editor at Large
• The NY Times Launches a New Sunday Section This Weekend | Women's Wear Daily
• Chris Kennedy Steps Down as Pres. of Merch. Mart Properties | Home Accents Today
• Daniel Libeskind Receives the 144th Annual AIANY Award | Architizer
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I wish my employer would spend a little on my furniture. My chair is too deep, not tall enough and completely un-adjustable and it's killing me.
Sadly, it's still more comfortable than the set-up I have at home so maybe I shouldn't complain too much.
Office furniture is tied to corporate profits which are good ATM - as opposed to residential furniture which is tied to the real estate market which is...
...sigh.
What the report seems to forget is that the companies that are purchasing furniture aren't those responsible for laying off people... unemployment is high because all of the manufacturing jobs have been shipped overseas because of the unrealistic demands of unions...