Andrew Cogan, Knoll CEO, July 31 Interview on TheStreet
Aug. 01, 2018
EAST GREENVILLE, Pa., Aug. 01, 2018 (GLOBE NEWSWIRE) -- Knoll, Inc. (NYSE:KNL) President and CEO Andrew Cogan appeared in a video interview with TheStreet to discuss the company’s latest financial results and ongoing strategy to drive growth through diversification of its product portfolio. He also shared insights on major trends impacting the office design space.
Mr. Cogan noted that growth in the second quarter resulted from two main factors.
"First, organically, the core office business has been very strong, I think stronger than people expected," said Mr. Cogan. "What's happening in the office place -- you've got corporate profitability, service sector employment -- all those are positive backdrops to increasing office furniture demand."
"Number two, companies are changing the way they are working -- less space for individuals, more space for group and collaborative -- and our R&D efforts and our acquisition efforts have really been focused on what we call that ancillary part of the office -- the group areas -- and we've really strengthened our offerings."
He added as individual workspace shrinks, workstation performance increases. "You're seeing our fastest growing category is sit-stand desks and height adjustability, so while you're getting less space, you are getting more high performing space”.
"This aligns well with Knoll's capability, which is high designed, differentiated products," Mr. Cogan said.
Mr. Cogan also commented on the global competitive landscape, Knoll’s recent acquisition of Muuto and the company’s improving margins. “We have a much more holistic approach now to the entire workplace, and that’s showing up in our results.”
Knoll reported second quarter 2018 results on July 30.
To view the interview, visit: https://www.thestreet.com/video/knoll-profits-on-corporate-growth-dismisses-tariff-concerns-14668653
Knoll, Inc. is a constellation of design-driven brands and people, working together with our clients to create inspired modern interiors. Our internationally recognized portfolio includes furniture, textiles, leathers, accessories, and architectural and acoustical elements brands. These brands — Knoll Office, KnollStudio, KnollTextiles, KnollExtra, Spinneybeck | FilzFelt, Edelman Leather, HOLLY HUNT, DatesWeiser and Muuto— reflect our commitment to modern design that meets the diverse requirements of high performance workplaces and luxury interiors. A recipient of the National Design Award for Corporate and Institutional Achievement from the Smithsonian`s Cooper-Hewitt, National Design Museum, Knoll, Inc. is aligned with the U.S. Green Building Council and the Canadian Green Building Council and can help organizations achieve the Leadership in Energy and Environmental Design (LEED) workplace certification. Knoll, Inc. is the founding sponsor of the World Monuments Fund Modernism at Risk program.
Cautionary Statement Regarding Forward-Looking Information
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding Knoll, Inc.'s expected future financial position, results of operations, revenue and profit levels, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as “anticipate,” “if,” “believe,” “plan,” “goals,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. This includes, without limitation, our statements and expectations regarding any current or future recovery in our industry, our publicly announced plans for increased capital and investment spending to achieve our long-term revenue and profitability growth goals, our integration of acquired businesses, and our expectations with respect to leverage. Such forward-looking statements are inherently uncertain, and readers must recognize that actual results may differ materially from the expectations of Knoll management. Knoll does not undertake a duty to update such forward-looking statements. Factors that may cause actual results to differ materially from those in the forward-looking statements include corporate spending and service-sector employment, price competition, acceptance of Knoll's new products, the pricing and availability of raw materials and components, foreign currency exchange, transportation costs, demand for high quality, well designed furniture solutions, changes in the competitive marketplace, changes in the trends in the market for furniture or coverings, the financial strength and stability of our suppliers, customers and dealers, access to capital, our success in designing and implementing our new enterprise resource planning system, our ability to successfully integrate acquired businesses, our supply chain optimization initiatives and other risks identified in Knoll's annual report on Form 10-K, and other filings with the Securities and Exchange Commission. Many of these factors are outside of Knoll's control.
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