Welcome to JSA Consultancy Services

A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

BIFMA reports Office Furniture Orders up Slightly

Wednesday 3 September 2008

The Business and Institutional Furniture Manufacturers Association said July shipments rose 1 percent to $930 million, year-over-year.
Office furniture orders rose just 1 percent in July to $940 million compared with a year earlier, but in a sign that things may turn worse, year-to-date orders and shipments were flat.

The Business and Institutional Furniture Manufacturers Association said July shipments rose 1 percent to $930 million, year-over-year, buy the organization now expects possible double-digit declines in 2009.

While July was reasonably good - all things considered, BIFMA says it expects full-year orders and shipments to fall 2.4 percent and 3.9 percent, respectively. In 2009, BIFMA is now projecting a severe drop in both orders and shipments of slightly more than 10 percent.

In a note to clients, Raymond James analyst Budd Bugatch wrote that demand has yet to collapse, but it has slowed after mid-to-high single-digit growth in 2006 and mid-single-digit growth in 2007

Bugatch has a fairly cautious outlook for the office furniture industry is based on deterioration in macroeconomic drivers such as business confidence, corporate profits and new office construction. All this even before we know who will occupy the White House next year.

\"Despite our concern that industry demand will remain challenged for the next several months or more, we would reiterate our belief that any downturn will not match the magnitude of the 2001-2003 decline,\" Bugatch wrote.

He reaffirmed his \"outperform\" ratings on Herman Miller Inc and Knoll Inc and his \"market perform\" ratings on Steelcase Inc and HNI Corp .

\"We would remind investors that due to its exposure to small business, HNI will likely be the first among peers to benefit when the economy begins to recover,\" Bugatch wrote.

Herman Miller has lessened its reliance on the North American office furniture market by expanding its health-care business and developing emerging technologies, he said.

Knoll focuses on higher-end products, which generate attractive profit margins, he concluded.

BIFMA compiled its July report from 38 companies that account for about 75 percent of the industry\'s volume.

Subscribe to our News Page

Enter your email here and we will tell you when this page is updated.

 

 

moreLatest News

Wednesday 10 January 2018 Announcing PANTONE 18-3838 Ultra Violet, PANTONE® Color of the Year 2018.

“A dramatically provocative and thoughtful purple shade, PANTONE 18-3838 Ultra Violet communicates

Tuesday 9 January 2018 Knoll Designs Armless MultiGeneration Light Task ChairKnoll Inc. alleges patented chair design was u

PHILADELPHIA – A furniture company with a place of business in Greenville alleges one of its paten

Sunday 7 January 2018 Herman Miller reports Second Quarter Fiscal 2018 Results – orders at all-time-high

Herman Miller, Inc. (NASDAQ: MLHR) today announced results for its second quarter ended December 2,

Wednesday 3 January 2018 Swindon Furniture Company Hit by Brexit Rescued

A furniture company whose sales went into decline after the vote on Brexit has been sold out of admi

Contact Us

JSA Consultancy Services
4-5 Gray’s Inn Square, Gray’s Inn,
London, WC1R 5AH, England


+44 (0) 20 7688 1928