According to executives from Herman Miller Inc. and Steelcase Inc., both of which recently reported quarterly results moderate sales growth through the summer was very much expected.
Zeeland-based Herman Miller, after reporting strong sales development for the March-to-May period that ended the 2013 fiscal year, said it expected sales growth for the first quarter of FY 2014 of 1 percent to 6 percent to $455 million to $475 million. The guidance was tempered somewhat by a four-week dip in Herman Miller's order rate toward the end of FY 2013 in May and into early June to start FY 2014.
At Steelcase, after reporting a dip in sales for its first quarter of FY 2014, executives expect global sales growth of 1 percent to 4 percent, or $760 million to $785 million, and net income of 22 cents to 26 cents per share for the present period.
Orders for the Americas in the quarter grew 7 percent year to year and the division's order backlog increased 10 percent. The Americas division includes the U.S, Canada and Latin America and accounts for about 72 percent of global sales.
The Grand Rapids-based Steelcase quoted sales of $667.1 million for the first quarter of FY 2014, down 1 percent from the same period a year earlier.
The sales decline was the first for Steelcase in 12 quarters of organic revenue growth.
