Research

Haworth

Designers at Haworth sit at their cubicles and think about ... more cubicles. The company is one of the top office furniture manufacturers in the US, behind #1 Steelcase and competing with HNI Corporation for the #2 position. Haworth offers a full range of furniture known for its innovative design, including partitions, desks, chairs, tables, and storage products. Brands include Berlin, if, PLACES, and X99. Dilbert and other long-suffering office drones have Haworth to thank for inventing the pre-wired partitions that make today's cubicled workplace possible. Haworth is owned by the family of Gerrard Haworth, who founded the company in 1948.

The company sells its products worldwide through more than 600 dealers. It has about 40 manufacturing locations and 60 showrooms worldwide.

Haworth, known as an aggressive competitor, has been expanding its presence in Europe, mostly through acquisitions. Operations include Germany's Roeder, Spain's Kemen, and Canada's SMED and Groupe Lacasse. In late 2003 Haworth purchased the assets of flooring maker Interface Architectural Resources (aka InterfaceAR).

An extended decline in the office furniture industry is forcing the company to consolidate operations, including relocating its US manufacturing from four states (Arkansas, North Carolina, Pennsylvania, and Texas) to three plants in Michigan.

Neiman Marcus

William (Bill) Dillard II, Chairman and CEO of Dillard's Inc. The scion of a retail family, Dillard is working to defend the family business from its discount competitors. M. Thomas (Tim) Grumbacher, Chairman of The Bon-Ton Stores. A member of the The Bon-Ton's founding family, Grumbacher oversaw the company's acquisition of The Elder-Beerman Stores chain and, more recently, the acquisition of the 142-store Northern Department Store Group from Saks Inc. Terry J. Lundgren, Chairman, President and CEO of Federated Department Stores. An experienced merchant who has held top jobs at both Federated and Neiman Marcus, Lundgren is on a mission to save the American department store by, among other initiatives, renaming all of Federated's regional chains Macy's. Bruce A. Nordstrom, Chairman of Nordstrom, Inc. The grandson of the company's founder, Bruce Nordstrom leads the third generation to run the tony department store chain famous for superior customer service. Stuart A. Rose, CEO and Director of Marks and Spencer Group. Since joining the venerable -- but ailing -- British department store chain in 2004, Rose has fought off unwanted suitors, ousted many top managers, and struggled to reverse a prolonged sales slump. Stephen I. Sadove, CEO and Director of Saks Inc. As CEO of the troubled department store chain, Sadove is charged with improving the business of both Saks and Saks Fifth Avenue Enterprises. Burton M. Tansky, President and CEO of The Neiman Marcus Group. After holding top jobs at both Bergdorf Goodman and Neiman's, Tansky took the luxury department store group private by selling it to a pair of private equity firms in 2005.