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.
#EmbraceEquity:
From the earliest days of computing to the present age of virtual reality and AI, women have made untold contributions to the digital world. Their achievements have been against all odds and under-appreciated. We highlight the Top 12 Women Tech Leaders in the business supply market.
Suzano volume flat
Suzano the Brazilian based pulp and paper producer, reported slowing growth in sales volume, primarily in exports saved by domestic demand. CEO Walter Schalke comments on a lower volume paper performance, boosted by +39% higher prices plus expansive investments in the Cerrado eco-pulp project and purchasing K-C's tissue mill in Brazil...
Moleskine mired
Moleskine, the premium notebook maker, owned by D'ieteren, the Belgian auto distributor, reported improved results for FY2022, but well short of pre Covid 2019 norm in spite of +30% price hikes. CEO Daniela Riccardi reported on lower discretionary demand during an 'essentials first' era...
ABM's 'Enhanced
ABM, the leading US facilities management services provider reported recovering results in its Q1'23. CEO Scott Salmirs commented on the acceleration in work orders for virus protection and 'Enhanced Clean' services plus details of another acquisition...
HON-Allsteel: acqs
HNI (HON + AllSteel) the #4 US furnituremaker, has acquired a major rival specializing in hospitality, health care & office products. This is a welcome boost for ceo Jeff Lorenger struggling with sales volumes down -40% v pre Covid norm; with the contract market still weak from workers' slow return to corporate offices
United N a t u r a l
US #1 broadline food wholesaler United Natural Foods (UNFI) reported steady Q2'23 boosted by inflation. “As consumers continue to seek at-home food solutions, UNFI remains dedicated to providing our resellers with a competitive service" said ceo Sandy Douglas (ex-Staples)
Ferguson plumbs
Ferguson PLC (inc Wolseley) the #1 US plumbing supplies wholesaler, reported steady growth in sales in Q2'23 fueled by huge price increases and 4 more acquisitions. We spoke with ceo Kevin Murphy about progress and plans in its equally split residentail and commercial markets...
Newell nears nadir;
Newell Brands, the $9Bn house of business & consumer brands, sales volume plummeted in home, commercial & writing products during 2022. Ex-Max Ravi Saligram is retiring as ceo, guilty of 'fiddling while the house burns', with market cap plunging -40% over the last year. What confidence is there that new boss Chris Peterson can break the 'same as the old boss' maxim? We comment....
Depot's 'Imagine
You couldn't make this up! Office Depot has launched "a new brand platform 'Imagine Success', to help customers fuel their passions, potential and goals". Deckchair shifting Capt. Gerry Smith just reported Q4'22 sales volumes down -50% v pre Covid norm Q4'19. Did he imagine success before decimating Depot by $5Bn when he joined in 2017?
MacFarlane boosts
UK packaging giant MacFarlane Group continued its organic and acquisitive growth. CEO Peter Atkinson commented on progress and details of its latest acquisition and the pipeline of new prospects. We discuss plans with ceo Peter Atkinson....
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