Furniture Market News

Furniture

Masonite International Corporation announced a Euro 5 million investment in the Circular Innovation Fund L.P., a venture capital fund dedicated to advancing the circular economy by investing in growth-stage companies across North America, Europe and Asia.

The Association of Furniture and Woodworking Enterprises of Russia declares the need for the govermnent to introduce protective duties on furniture imports into Russia.

American Woodmark Corporation announced results for its 1Q of fiscal 2023 which ended July 31, 2022. The Company experienced growth in all sales channels during the 1Q of fiscal 2023 versus the prior year period.

Masonite International's consolidated net sales were $762 million in the 2Q 2022, a 15% increase from $662 million in the 2Q 2021. Total company gross profit was $179 million in the 2Q 2022, an increase of 9% compared to $164 million in the 2Q 2021. Net income was $59 million in the 2Q 2022 compared to $35 million in t...

Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, announces the sale of its client, Perfection Custom Closets, to Kambium, Inc. Perfection Custom Closets is a leading custom closets company in the Chicago area.

Following its historic $100 million-plus verdict in the U.S. District Court for the Eastern District of Wisconsin, Raffel Systems, LLC plans to urge three federal agencies to investigate Chinese furniture manufacturer Man Wah Holdings Ltd., Inc. for alleged unfair competition practices and intellectual property theft.

Currently, company continue to make only a minimum amount of sales sufficient to generate enough local currency to pay employees in Russia.

JELD-WEN Holding, Inc. announced Julie C. Albrecht will join JELD-WEN as executive vice president and CFO, effective July 18, 2022. She will replace EVP and Acting CFO David Guernsey who will transition into another leadership role.

IKEA leaves Russia

The Swedish retailer IKEA plans to sell its plants in Russia. Earlier, IKEA has paused operations of its stores and three woodworking factories in Russia.