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Benchmark’s Commercial Interiors Dealer Survey for May revealed a modest improvement in industry sentiment, with the firm’s Dealer Optimism Confidence (DOC) Index reaching 45.3. The index, structured as a diffusion index where scores above 50 indicate improvement and below 50 signal decline, showed gains across all three component metrics.
The May survey demonstrated positive momentum in current demand, current economic conditions, and demand expectations compared to the previous month. Despite the overall index remaining below the neutral 50 threshold, the across-the-board improvements suggest a moderating decline in the commercial interiors sector.
Benchmark’s research highlighted ancillary products as a continued growth leader among product categories. Market strength was most evident in the healthcare and government sectors, according to the firm’s analysis of dealer feedback.
The survey findings have particular relevance for several publicly traded commercial furniture manufacturers, including NYSE:MLKN (Miller Knoll), (NYSE:HNI) (HNI Corp.), and (NYSE:SCS) (Steelcase). These companies represent major players in the commercial interiors market tracked by the Benchmark survey.
The May dealer survey was conducted throughout the month, providing a timely snapshot of market conditions as perceived by commercial interiors dealers who serve as a critical distribution channel for manufacturer products. The DOC Index serves as a leading indicator of potential trends in the commercial furniture and interiors sector.
In other recent news, HNI Corporation reported better-than-expected financial results for the first quarter of 2025. The company posted earnings per share of $0.44, surpassing the analyst forecast of $0.35, and achieved revenue of $599.8 million, exceeding the anticipated $583.47 million. Additionally, Longbow Research initiated coverage on HNI Corp with a Buy rating and set a price target of $70, citing expectations of unit volume growth and improved margins. The company’s shareholders recently approved the election of three directors to its Board and ratified KPMG LLP as its independent auditor for the fiscal year ending January 3, 2026. HNI Corporation also declared a quarterly dividend of 34 cents per share, payable on June 11, 2025, to shareholders on record as of May 23, 2025. The company continues to focus on strategic initiatives, with plans for continued revenue growth and operational efficiency improvements. Analysts from Longbow Research anticipate further financial performance improvements beyond current market expectations.
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