Latest news with #workplacefurnishings
Fast Company
04-08-2025
- Business
- Fast Company
Steelcase's $2 billion sale shows the return-to-office movement is still growing
DESIGN HNI Corporation, which manufactures workplace furnishings, said it will acquire Steelcase in a $2.2 billion deal. [Photos: Steelcase] BY Listen to this Article More info 0:00 / 2:36 Furniture maker Steelcase is being acquired by HNI Corporation in a $2.2 billion deal that shows the upside to office furniture at a time when return-to-office remains on the rise. HNI Corporation, which manufactures workplace furnishings and residential building products like fireplaces, announced the acquisition with Steelcase Monday. The companies cited their complementary geographic footprints, dealer networks, and skillsets as the deal's benefits and said they estimate an annual revenue of about $5.8 billion should shareholders agree and the transaction close by the end of 2025. 'This is a historic moment for Steelcase as we embark on the first step of a transformative combination that will unlock new possibilities for our customers, dealers, and employees alike,' Steelcase president and CEO Sara Armbruster wrote in a letter to employees obtained by Fast Company. 'Together, we will be positioned to redefine what's possible in the world of work, workers, and workplaces.' Armbruster said Steelcase would maintain its Grand Rapids, Michigan, headquarters and continue to operate as Steelcase with its brand and business strategy following the close of the deal, but that HNI chairman, president, and CEO Jeffrey Lorenger would lead the combined company. Subscribe to the Design latest innovations in design brought to you every weekday SIGN UP advertisement RTO growth Steelcase has rebounded from pandemic lockdowns with 12 consecutive quarters of year-over-year gross margin growth, including 7.11% year-over-year growth in the most recent quarter for a reported $779 million in quarterly revenue, according to PitchBook data. As firms instituted return-to-office (RTO) policies in the years since lockdowns, Steelcase's office chairs, work stations, lockers, and phone booths have been in high demand. As recently as last year, RTO was still picking up steam, and fast. The percentage of employees who work 'mostly in person' rose from 34% to 68% between 2023 to 2024, while the share of employees who work 'mostly remote' has dropped from 44% to 17% in the same time period, according to McKinsey & Company. Steelcase, which did not respond to a request for comment, reported strong order growth from financial services companies and large technology companies on its most recent earnings call. Armbruster noted on the call healthcare was an area of growth and said Steelcase's work in the education space was 'well-positioned' but threatened by federal policy targeting education. The early-rate deadline for Fast Company's Most Innovative Companies Awards is Friday, September 5, at 11:59 p.m. PT. Apply today. ABOUT THE AUTHOR Hunter Schwarz is a Fast Company contributor who covers the intersection of design and advertising, branding, business, civics, fashion, fonts, packaging, politics, sports, and technology.. Hunter is the author of Yello, a newsletter about political persuasion More
Globe and Mail
08-07-2025
- Business
- Globe and Mail
HNI Corporation Second Quarter Fiscal 2025 Results Conference Call
HNI Corporation (NYSE: HNI) will host its quarterly conference call for investors to discuss second quarter fiscal 2025 results on: Thursday, July 24, 2025 11:00 a.m. Eastern 10:00 a.m. Central 9:00 a.m. Mountain 8:00 a.m. Pacific To listen to the call, please dial: 1-855-761-5600 (Toll-free) Conference ID: 7175411 Assistance is available throughout the teleconference meeting. Press *0 to request Operator Assistance. A live webcast of the call will be available on HNI Corporation's website at A replay of the webcast and call will be made available from Thursday, July 24, 2025, 1:00 p.m. (Central) through Thursday, July 31, 2025, 10:59 p.m. (Central). To replay the webcast, go to the link above. To replay the call, dial 1-800-770-2030 – Conference ID: 7175411. HNI Corporation plans to release its second quarter fiscal 2025 results on Thursday, July 24, 2025 before the market opens. Results will be posted on HNI Corporation's website at If you have any questions, please contact HNI Corporation's Investor Relations Department at investorrelations@ HNI Corporation (NYSE: HNI) has been improving where people live, work, and gather for more than 75 years. HNI is a manufacturer of workplace furnishings and residential building products, operating under two segments. The Workplace Furnishings segment is a leading global designer and provider of commercial furnishings, going to market under multiple unique brands. The Residential Building Products segment is the nation's leading manufacturer and marketer of hearth products, which include a full array of gas, electric, wood, and pellet-burning fireplaces, inserts, stoves, facings, and accessories. More information can be found on the Corporation's website at
