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Steelcase : Showcases New Solutions that go Beyond Hybrid and Deliver on Sustainability Commitments at NeoCon 2023

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5 June, 2023

Grand Rapids, MI, June 12, 2023 – At NeoCon 2023 this week, Steelcase and its community of brands are showcasing new solutions to help organizations create diverse, vibrant and sustainable workplaces.

As hybrid work evolves and reshapes the ways people work around the world, workers are looking for spaces that provide better support than before. Yet, leaders aren’t sure how and where to start delivering on these new needs. As a global design and thought leader in the world of work, Steelcase is shifting the conversation to go beyond where people work and into the how, so that work becomes a better experience for all – both in and out of the office.

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Steelcase further expands in India, opening a flagship dealer showroom in Hyderabad

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27 May, 2023

Hyderabad: 27th May, 2023: Steelcase, the global design and thought leader in the world of work, announced the opening of its flagship dealer showroom in Hyderabad. In partnership with Seating World, the expansive Steelcase multi-level showroom in Hyderabad further solidifies Steelcase’s presence in India and Asia Pacific cities, with showrooms in Bangalore, Mumbai, Delhi, Tokyo, Shanghai, Beijing, Hong Kong, Singapore and Sydney.

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Oppenheimer Asset Management Reduces Position in Steelcase Inc. as Director Sells Shares

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9 May, 2023

In a recent filing with the Securities and Exchange Commission (SEC), Oppenheimer Asset Management Inc. has decreased its position in Steelcase Inc. (NYSE:SCS) by 18.9% during the 4th quarter. The firm owned 69,374 shares of the business services provider’s stock after selling 16,131 shares during the quarter. At the end of the most recent reporting period, Oppenheimer Asset Management Inc. owned 0.06% of Steelcase worth $490,000.

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Steelcase approves plans for workforce reductions in France

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4 May, 2023

Steelcase (NYSE:SCS) disclosed:

On May 3, 2023, in response to persisting inflationary pressures and decreasing plant utilization in Europe, the Middle East and Africa (“EMEA”), the Board of Directors of Steelcase Inc . (the “Company”) approved plans for workforce reductions in France. These plans involve the reduction of approximately 40 to 50 salaried roles. The Company expects to incur approximately $10 million to $13 million in pre-tax restructuring charges in connection with these actions, consisting of cash severance payments and payment of other separation-related benefits. The Company has initiated procedures with the French central works council and will work closely with the French Labor Administration for approval of these actions. Depending on the timing of such approval, the actions are expected to be completed by the end of the Company’s fiscal year 2024, with most of the departures expected to be completed by the end of the third quarter of the Company’s fiscal year 2024. The Company anticipates annualized savings from these actions will be approximately $4 million to $5 million when fully implemented.

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STEELCASE INC : Costs Associated with Exit or Disposal Activities, Regulation FD Disclosure (form 8-K)

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4 May, 2023

Item 2.05. Costs Associated with Exit or Disposal Activities.

On May 3, 2023, in response to persisting inflationary pressures and decreasing plant utilization in Europe, the Middle East and Africa (“EMEA”), the Board of Directors of Steelcase Inc. (the “Company”) approved plans for workforce reductions in France. These plans involve the reduction of approximately 40 to 50 salaried roles. The Company expects to incur approximately $10 million to $13 million in pre-tax restructuring charges in connection with these actions, consisting of cash severance payments and payment of other separation-related benefits. The Company has initiated procedures with the French central works council and will work closely with the French Labor Administration for approval of these actions. Depending on the timing of such approval, the actions are expected to be completed by the end of the Company’s fiscal year 2024, with most of the departures expected to be completed by the end of the third quarter of the Company’s fiscal year 2024. The Company anticipates annualized savings from these actions will be approximately $4 million to $5 million when fully implemented.

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Steelcase to Host, Webcast Investor Day May 4

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17 April, 2023

GRAND RAPIDS, Mich., April 17, 2023 (GLOBE NEWSWIRE) — Steelcase Inc. (NYSE: SCS) will hold an Investor Day event Thursday, May 4, 2023, at the Steelcase WorkLife Center, 4 Columbus Circle, New York, NY. The event will also be available by live webcast. Presentations by Sara Armbruster, President and CEO, and other Steelcase management will begin at 9:00 a.m. ET.

Registration for the event is available on the company’s website under Events & Presentations at http://ir.steelcase.com. A recording of management presentations and Q+A will be available on the website shortly after the event concludes.

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Steelcase Inc. Sees Decrease in Holdings by Versor Investments LP Amid Impressive Earnings and Director’s Insider Selling

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17 April, 2023

Steelcase Inc. (NYSE:SCS) has recently had a decrease in holdings by Versor Investments LP, which sold 34.9% of its shares during the fourth quarter. This move has resulted in the fund owning 42,100 shares of SCS’s stock worth $298,000 as stated in the most recent Form 13F filing with the U.S Securities and Exchange Commission (SEC).

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STEELCASE INC Management’s Discussion and Analysis of Financial Condition and Results of Operations: (form 10-K)

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14 April, 2023

The following review of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and accompanying notes thereto included elsewhere within this Report.

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Steelcase Reports Fourth Quarter and Fiscal 2023 Results

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22 March 2023

GRAND RAPIDS, Mich., March 22, 2023 (GLOBE NEWSWIRE) — Steelcase Inc. (NYSE: SCS) today reported fourth quarter revenue of $801.7 million, net income of $15.7 million, or $0.13 per share, and adjusted earnings per share of $0.19.  In the prior year, Steelcase reported revenue of $753.1 million and a net loss of $2.2 million, or $0.02 per share, and had $0.01 adjusted earnings per share

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Steelcase in India Grows Women in Manufacturing Roles to 60 Percent

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21 March, 2023

Mumbai, Maharashtra, India – Business Wire India Steelcase, a global leader in the office furniture industry and innovative workspace solutions, announces Women of Steel, an initiative launched by Steelcase India Manufacturing plant, Pune to attract more women to the workforce. The programme has increased the number of women at the plant from 10% in early 2021 to 60% now.

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