LZB - Flexsteel Industries Is A Net-Net With Great Management
Flexsteel Industries (FLXS) is a furniture manufacturer, largely focused on higher-end residential products including sofas, recliners, and beds. The name “Flexsteel” is derived from their trademark blue steel springs that come inside each piece of furniture and carry a lifetime warranty – a strong value proposition.
Flexsteel has been in business since 1893, and has typically focused on this upper-middle market segment. They largely sell to retailers, but maintain direct-to-consumer channels as well as a burgeoning e-commerce presence – though I was unable to find much aside from a Wayfair page with two