
The Week in Review
Hey there! Let’s dive into the latest buzz from the world of office spaces and furniture – trust me, it’s been quite the ride lately!
Starting with Steelcase – those big dark blue shots in office furnishings – they had a bit of a mixed bag recently. They kinda wowed the Wall Street folks with their earnings, but their revenue didn’t quite hit the sweet spot, leading to a bit of a tumble in their stock prices. Even though the numbers game was a bit of a rollercoaster, they’re seeing some pretty cool growth thanks to big companies looking to spruce up their workspaces. Looking ahead, they’re being a bit cautious with their numbers game, which feels like everyone’s still figuring out this whole post-pandemic office vibe.
Then there's this hopeful note from the AIA/Deltek Architecture Billings Index. It’s like a little sunshine peeking through the clouds, hinting that things might be getting a bit better for architecture firms. It’s like we’re slowly but surely stepping towards brighter days in building and designing.
Indiana Furniture has decided it’s time for a fresh start, moving their headquarters to a shiny new spot in Jasper, Indiana. This isn’t just any move; it’s a statement. They’re all about innovation, collaboration, and a big ol’ dose of creativity in their new digs.
Over in Tokyo, Muuto’s bringing a bit of Scandinavian cool to Japan with their first flagship store there. It’s a big leap into new territory, bringing that fresh Nordic design to the bustling streets of Tokyo thanks to MillerKnoll.
Allsteel’s mixing things up with a new podcast and magazine aimed at stirring the pot on workplace innovation. They’re moving beyond just furniture to spark conversations and share insights on making our workspaces even better.
And there’s some insider trading action with MillerKnoll insiders scooping up shares, showing a mix of confidence and curiosity amidst the financial dance of buys and sells.
DIRTT Environmental Solutions is playing it smart with a new shareholder rights plan, aiming to prevent too much concentration of ownership. It’s a strategic chess move, signaling they’re gearing up for growth.
The office real estate world is buzzing, from some markets seeing positive vibes to the real talk about converting offices to residential spaces. There’s a cautious optimism in the air, peppered with a dose of reality, especially with whispers of a potential downturn that might echo the Global Financial Crisis days.
In the realm of cool design projects, Alejandro Valdés is brewing up something special with Donati - a hybrid chair that’s looking to redefine comfort and style in workspaces. It’s this exciting blend of ergonomics and aesthetics that’s set to be everyone’s new office BFF.
As we navigate the waters of the hybrid work era, there’s a clear call for spaces that embrace flexibility, foster collaboration, and offer those much-needed quiet spots for endless video calls. It’s an exciting time watching workspaces evolve to meet the needs of a workforce that’s breaking free from the old-school office chains.
So, whether it’s getting on board with Peach Fuzz as the color of the year in office design, exploring how office peacocking is drawing employees back, or diving into the world of office scents (yes, really), the storyline is clear: the workplace is evolving in some pretty amazing ways. And as we ride this wave of change, the journey towards more creative, efficient, and well-being-focused work environments is only getting more exciting.
Steelcase Inc. reported fourth-quarter earnings that slightly exceeded Wall Street expectations, but a revenue shortfall sent shares tumbling nearly 6% in aftermarket trading. The office furniture maker announced adjusted earnings per share (EPS) of $0.23 for the quarter, $0.02 higher than the analyst consensus of $0.21. However, revenue for the quarter was reported at $775.2 million, falling short of the consensus estimate of $780.25 million.
The company's revenue saw a 3% decline compared to the same quarter last year, with a notable 2% decrease in the Americas and a 6% decline internationally. Despite the revenue dip, Steelcase's earnings per share increased by 38% compared to the previous year, indicating significant earnings improvement. Sara Armbruster, president and CEO of Steelcase, expressed pride in the company's earnings growth, attributing it to strong order growth in the Americas, driven by large corporate customers investing in inspiring workplaces.
Looking ahead, Steelcase provided guidance for the first quarter of fiscal 2025, projecting EPS in the range of $0.08 to $0.12, which brackets the analyst consensus of $0.10. The company anticipates first-quarter revenue to be between $715 and $740 million, which is below the consensus estimate of $741.23 million. For the full fiscal year 2025, Steelcase expects EPS to be in the range of $0.85 to $1.00, compared to the consensus estimate of $0.92.
The company's backlog of customer orders at the end of the fourth quarter stood at approximately $625 million, 8% lower than the prior year. However, orders in the first three weeks of the first quarter of fiscal 2025 grew by 10% compared to the previous year, indicating potential for revenue stabilization.
“I'm proud of the earnings improvement our teams delivered again this quarter, capping off a strong fiscal 2024 in which our net income more than doubled from the prior year,” said Sara Armbruster, president and CEO. “Our 8 percent order growth in the Americas in the fourth quarter was driven by our large corporate customers, and we believe this is reflective of customers investing to create inspiring workplaces as they call for a stronger in-office presence.”
Despite the positive earnings per share results, the market reacted negatively to the revenue miss, with Steelcase shares declining 5.90% in aftermarket trading on Wednesday. This response underscores the challenges faced by the company in a competitive and evolving market, as it continues to navigate macroeconomic factors and strives to meet its financial targets for the coming year.

Indiana Furniture announced it has relocated its Corporate Headquarters to 1919 Hospitality Drive in Jasper, Indiana. This new space is meant to put employees’ needs, and the company’s broad portfolio of office furniture, front and center.
This move comes about a year after transforming their manufacturing facilities, consolidating four plants onto one campus, and allows for the company’s entire business operations to be within a half-mile radius on the south side of the city.
“As we celebrate 119 years in business, this is a significant milestone for Indiana Furniture,” stated Max Verkamp, President and CEO of Indiana Furniture. “It’s the beginning of a new era.”
The headquarters features a modern design and amenities to promote teamwork, innovation, and employee well-being. It includes a mix of private and open work areas, meeting rooms, break and café-inspired areas, and a variety of huddle spaces for team members to collaborate and share ideas. Also within the space is an interactive furniture studio, showcasing their expansive offering, and a furniture lab for product development and prototyping.
“We are thrilled about our new location, as this will foster a stronger sense of community and collaboration, more efficiency, and further build pride, all of which helps us and our culture, but also strengthens how we approach and service our customers,” added Verkamp.
To learn more about this new Corporate Headquarters and other ways Indiana Furniture is bringing style, function, and ease to office furniture, go to www.IndianaFurniture.com.



Trained in industrial design and marketing, Alejandro Valdés (Spain, 1975) opened his design studio in Barcelona in 2019, from where he works on projects with a number of leading European manufacturers. His previous experience includes Fiat Auto Advanced Design in Milan and a decade at Studio Lievore Altherr Molina in Barcelona. We spoke to Alejandro about his projects for Italian industry supplier Donati and his new Study-O chair.
How did you get to know Donati?
I have known the Donati team for many years. Back when I was working with Lievore Altherr Molina, we designed several chair components for them. After I started my own studio, Trevi, a family of four- and five-star bases for Donati's standard range, was one of the first projects under my own name.
Donati is not a manufacturing brand, but a supplier to the industry. How does working with Donati differ from working with other customers?
At Donati, design development is real teamwork, very constructive. You can feel the enthusiasm of everyone involved and the power of production being under the same roof as research and development. Compared to some of my other clients, their Studio Tecnico has outstanding technical expertise. Their engineers respect my role as a designer when it comes to aesthetics, yet give clear instructions for technical solutions and ergonomics. They are closely involved in every phase of the project and project updates are more intensive and frequent than with other clients.
How did the Study-O project come about?
I recently launched my Ategra chair with the Swiss manufacturer Girsberger. Donati had co-developed this chair over several years, and in 2021 Armando Donati asked me to think about a studio chair, as he called it, for his new Design Ready unit. He envisioned a light, agile chair with a soft expression, well suited for studying and working from home, offering good comfort and a certain ergonomic function without being a machine. At the same time, it needed to be more than the typical plastic chair on a swivel base. So, I started sketching some possible directions and made some foam models, which I think we discussed in 2022.
And where does the project stand now?
An early prototype of the chair was shown at Interzum 2023. We have continuously improved the design and are currently concentrating on a shell with armrests, an integrated tilting mechanism and soft upholstery for the seat and back. The armchair shell is the most important model; in parallel, we are also working on a side shell and a basic version without upholstery. For the bases, we will use existing components from the Donati catalog.
The plastic shells look very comfortable, how did you achieve this?
I wanted to create an organic shell that offers physical, aesthetic and cultural comfort in a certain sense. The physical comfort comes from the ingenious seat profile, the flexibility and the soft upholstery of the shell, to which the tilting mechanism, the height adjustment and the swivel function are added. The aesthetic comfort is created by harmonious curves and lines. The chair is pleasant to look at, it appears less aggressive than most office chairs and the mechanism is integrated and practically invisible.
What exactly do you mean by cultural comfort?
As designers, we are stewards of a collective cultural memory. We often look back to understand something and then look forward to create new solutions. With Study-O, I'm referencing some of the greatest mid-century designs; I wanted an organic form with a small dose of deliberate nostalgia, but the curves should be updated with more contemporary, controlled lines. The shape and ergonomic performance needed to be of today, yet I wanted to offer users the comfort of something familiar.
How did Donati's know-how contribute to the realization of the chair?
Donati has incredible expertise in aluminium die-casting and in developing performance mechanisms. Their competency in injection-moulding is also very strong, and in recent years they have expanded into plastic shell production in Europe and the US. The shell of Study-O looks relatively simple to make but it is rather complex due its openings and the integrated mechanism. The engineering team spent quite some time on figuring out all the parameters.
Where can you imagine the chair being used?
For me, Study-O is a hybrid chair that fits seamlessly into all kinds of work situations: in a classic office, in a hotel or co-working space, in a creative studio and in the home office. It's like a friend that you can find in all these places, hopefully helping you to be productive, inspiring you and making you happy.
When and where will Study-O be available?
Donati is currently in talks with furniture brands to integrate Study-O into their product range. I think the chair would work well on a global scale, perhaps for an office chair manufacturer that wants to add a softer, more personalized language. Once we have found this partner brand, we will finalize product development and hopefully Study-O will be on the market soon after.

In the fast-paced world of office design, staying ahead means embracing the latest trends. For 2024, Peach Fuzz emerges as the frontrunner, captivating designers and professionals alike with its warmth and creativity. Here are some insights from COE Distributing on how to integrate this dynamic hue into your workspace seamlessly.
Why Peach Fuzz?
Peach Fuzz isn't just a color; it's a statement. Symbolizing warmth, creativity, and tranquility, it sets the perfect tone for a productive and inviting workplace environment.
Creating Harmony
Try pairing Peach Fuzz with complementary tones from the Libation Pantone Color Palette, offering a rich and sophisticated blend that adds depth and intrigue to any office space.
Choosing the Right Furniture
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Comfort and Productivity
Investing in ergonomic chairs like the Veneto chair in Caramel from OfficeSource, not only enhances comfort but also adds a touch of modern elegance to your office setup.
New Arrivals
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Experience the Transformation
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