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.

Haworth prepares for tough 2009, reports $1.65 billion in 2008 sales

Thursday 12 February 2009

After posting flat sales for 2008, Haworth Inc. is preparing for a tough time in 2009 and possibly longer with the office furniture industry\'s volumes expected to decline amid global economic uncertainty.

As the industry moves further into a downturn, Haworth and other office furniture makers are at least better positioned to weather the situation than they were during the dramatic decline the industry experienced from 2001-03, CEO Franco Bianchi said.

The industry lacks the excess capacity it had going into the last downturn, Bianchi said.

\"We have companies that are more flexible today so we can adjust up and down easier than we all were doing then,\" Bianchi said. \"Instead of slashing and burning everywhere.\"

The Holland-based Haworth this morning said it generated 2008 global sales of $1.65 billion, just shy of the $1.66 billion in 2007. The privately-held company does not disclose earnings, though Bianchi said Haworth was profitable in 2008.

Bianchi termed 2008 a \"good, but not great\" year, though he sees much tougher sledding ahead in 2009 and a potentially prolonged downturn.

\"We are not in the middle of a normal bump. We are approaching it as this recession is here to stay for a while. It\'s clearly more serious than 2001 was,\" he said.

The Business and Institutional Furniture Manufacturers Association\'s outlook presently predicts an 11.6 decline in shipments for 2009. An updated quarterly outlook is due out soon, including final shipment levels for 2008.

Haworth\'s orders softened during the latter part of the year, leading to a December decision to close the Allegan seating plant and eliminate 350 positions through voluntary separations.

Bianchi said Haworth will take further action if needed to respond to lower sales volumes.

\"The question is how you adjust the business for 2009, which is what we are busy doing, but in a way to build the foundation to come out of this stronger and truly gain market share,\" he said.

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