Furniture mkt on
Furniture Market Review Q4'22-23: Covid crushed the corporate furniture market. Leading makers still report -30% demand declines compared with the 2019 norm. During Covid, WFH suppliers like Amazon, Wayfair, DWR (MillerKnoll) exploded with record revenues, now normalizing. We review leaders disappointing results and the new hybrid work developments accelerating the wellness & ergonomics movement e.g. Fellowes. Updated for Steelcase/MillerKnoll
Old OP Emperors
There's been much recession talk recently: macro economic headwinds, high inflation, depressing optimism. How much is real given the huge prices boost on lower volumes? Whilst ex-leaders eg. Acco, HP, Newell, 3M & VOW decline despite complacent commentary, progressive players reinvented to meet the 'personalized productivity service' needs of users. We highlight losers and the big winners..Complete
Bouncebackability
Reports are all in for Business Supply players in Q4'22. Predictably they show inflated profits but weak sales recovery v pre-Covid 'norm' Q4'19. Proficiency Index reports the Leaderboard of makers, wholesalers & dealers' 'Bouncebackability' performance. It covers 100 leading paper & printer makers, hygiene, foodservice and packaging suppliers, OP/furnituremakers and retailers Updated
Healthy Hygiene
Hygiene is now #1 business supply category alongside technology. Progressive business suppliers: brandmakers, dealers have pivoted into hygiene, safety, foodservice & packaging, WFH-tech & wellness services. Proficiency Index Q4'22 analysis is almost complete with brand volumes slowing, boosted by double-digit price hikes. Updated for KPTissue, Sappi & Suzano. Diversey delayed to 22Mar
Top 50 Women
Marketing to businesses by brandmakers & resellers was traditionally dominated by men. As we celebrate International Women's Day, Proficiency Index recognises the most successful women leaders. This is 16th edition of 'Top 50 Women in Business Supply', the market's real growth achievers, including new entrants from progressive independent dealers.
Brady "robust"
Brady Corp the $1Bn in sales, Identification & workplace safety specialists, reported stronger demand in its Q2'23. New ceo Russell Shaller commented on the ongoing strength of its ID solutions business; actions to improve the weaker workplace safety segment and progress with its latest acquisition.
Acco skid masked
Acco Brands, ex-OP brand leader, reported even weaker results in Q4'22. Complacent ceo Boris Elisman still shows little grasp of the broader business supply market opportunities inc. hybrid office needs; and continues to double down on the extinct OP segment or ancillary gaming distractions? Updated inc Analysts' Q&A Session
HON-Allsteel: biz
HNI (HON + AllSteel) the $2Bn US furnituremaker, reported a reversal in demand in office markets in Q4'22, with ceo Jeff Lorenger cautious about economic uncertainty and the slow return to corporate offices, hurting contract demand
Mondi's massive
Mondi Group, the €9Bn in sales international paper & packaging maker reported highly inflated packaging and paper sales boosted by 29%+ price hikes in FY'22. ceo Andrew King commented on its innovative, sustainable activity whilst playing down the volume decline and inflationary effect on doubling profits
Wayfair weakening
Wayfair, the $12Bn US/UK home & office furnishings etailer, reported its 7th consecutive quarter sales decline in Q4'22. The Covid lockdown proved a huge WFH sales boost to business customers, now sliding back. Can ceo Niraj Shah turnaround its fortunes amidsttakeover interest? Updated
CCL label sales
CCL Industries (inc. Avery),the $6Bn in sales specialist labelmaker, reported a slower rate of recovery in Q4'22. Sales were good in food, health and personal care markets. CEO Geoff Martin commented on results across all divisions boosted by price increases and acquisitions
Iron Mountain hikes
Iron Mountain ex-global leader in document services reported steady Q4'22 results. CEO Bill Meaney's opaque, minimalistic but hyped up reporting seems geared to disguise reactionary late moves in digital & cloud storage. Acquisitions and high price increases continue to hide real volume progress....Updated
Motion market
Genuine Parts (GPC) the $22Bn parent of NAPA auto care & Motion industrial supplies businesses, reported a strong performance in Q4'22. CEO Paul Donahue commented on a buoyant used car market plus Motion boosted by acquisitions and stronger organic growth. Updated
Alibaba's advance
China's Alibaba the $120Bn+ in sales, MCommerce giant reported its slowest growth rate ever in Q2'23 ceo Daniel Zheng provided details of new services in cloud, grocery delivery & VA ordering that copycat Amazon's innovations. Surely it has abandoned plans to expand in the US?
Keurig coffee cools
Keurig Dr. Pepper, the $13Bn coffee giant reported progress with its house of beverage brands in Q4'22. Meanwhile, core coffee demand improved in 'WFH' & business markets. Dr.Pepper brands growth sparkled notably CORE Hydration and Polar seltzers. Returning ceo Bob Gamgort commented...Updated
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