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Steelcase Reports First Quarter Fiscal 2021 Results

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Tuesday, 30 June, 2020

Steelcase Inc. (NYSE: SCS) today reported first quarter revenue of $482.8 million and a net loss of $38.1 million, or a loss of $0.33 per share. The results included a non-cash goodwill impairment charge which increased the net loss by $17.6 million, or $0.15 per share. The adjusted net loss in the quarter totaled $20.5 million, or $0.18 per share. In the prior year, Steelcase reported $824.3 million of revenue and net income of $17.8 million, or diluted earnings of $0.15 per share.
Revenue decreased 41 percent in the first quarter compared to the prior year. The decline was broad-based across all segments as government mandates significantly limited the company’s ability to manufacture and fulfill orders throughout much of the world during the first quarter. Revenue in the Americas declined 42 percent and EMEA declined 38 percent compared to the prior year. The Other category declined 43 percent, or 28 percent on an organic basis after adjusting for the impact of the PolyVision divestiture in February 2020 and currency translation effects.

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Steelcase Teams Up With MIT Researchers To Help Create Safer Workplaces

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Monday, 29 June, 2020

Steelcase today announces its collaboration with MIT professor and disease transmission specialist Dr. Lydia Bourouiba, director of The Fluid Dynamics of Disease Transmission at MIT to study disease transmission in the workplace. Bourouiba specializes in fluid dynamics and understanding properties of turbulent gas clouds that are produced when people exhale, sneeze or cough and how that spreads respiratory pathogens. The goal of the research is to not only understand how these pathogens spread in typical office layouts, but also to develop design strategies for how to mitigate the spread of COVID-19 and other illnesses at work.

 

Steelcase to Webcast First Quarter Conference Call

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Wednesday, 10 June, 2020

Annual Meeting of Shareholders Announced

Steelcase Inc. (NYSE: SCS) will webcast a discussion of its first-quarter fiscal year 2021 financial results on Wednesday, July 1, 2020 at 8:30 a.m. ET.  A link to the webcast will be available at http://ir.steelcase.com and a replay of the webcast will be available shortly after the call concludes. The news release detailing the financial results will be issued the previous day, June 30, 2020, after the market closes.

Read full article here: (GLOBE NEWSWIRE)

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Reasons Why Long-term Faith on Steelcase Inc. (SCS) Could Pay Off Investors

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Saturday, 25 April, 2020

Let’s start up with the current stock price of Steelcase Inc. (SCS), which is $9.56 to be very precise. The Stock rose vividly during the last session to $9.61 after opening rate of $9.53 while the lowest price it went was recorded $9.28 before closing at $9.49.

Steelcase Inc. had a pretty Dodgy run when it comes to the market performance. The 1-year high price for the company’s stock is recorded $23.02 on 12/18/19, with the lowest value was $7.02 for the same time period, recorded on 03/18/20.

Read full article here: (INVESTCHRONICLE)

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Steelcase Announces Appoint­ment of Catherine “Triona” Schmelter to Board of Directors

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Tuesday, 17 December, 2020

Steelcase today announced Catherine “Triona” C.B. Schmelter has been appointed to its board of directors. Ms. Schmelter is President, Meal Solutions of TreeHouse Foods, Inc., a $4.3B Fortune 500 manufacturer of packaged foods and beverages.

Read full article here: (GLOBE NEWSWIRE)

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Microsoft, Steelcase Deliver Huddle Rooms on Wheels with Surface Hub 2S

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Wednesday, 28 June, 2019

Microsoft has begun shipping the new Surface Hub 2S, its video conferencing digital whiteboard platform that aims to address the emerging desire among customers to create mobile huddle rooms on the fly. Introduced earlier this year, Microsoft has partnered with office furniture maker Steelcase to develop a custom cart on wheels optimized to move and create ad hoc video conferences.

Read full article here: (CHANNEL PARTNERS ONLINE)