Posts

Steelcase partners with UK manufacturer to combat health care-associated infections

30 January, 2023

A new partnership between a Grand Rapids-based furniture and design company and a portable partition manufacturer plans to help increase patient and provider safety in hospitals.

Steelcase Health, a division of the Steelcase brand, last week announced its partnership with U.K.-based portable partition manufacturer KwickScreen to combat the spread of health care-associated infections (HAIs) and offer more diverse solutions to medical facilities.

 

Royce & Associates LP Reduces Its Position in Flexsteel Industries, Inc. (NASDAQ:FLXS).

28 January, 2023

Royce & Associates LP decreased the number of Flexsteel Industries, Inc. (NASDAQ: FLXS) shares it owned during the third quarter, as stated in the most recent SEC filing that the company submitted. Following the transaction during the preceding quarter in which 90,000 shares of the company’s stock were sold, the institutional investor currently holds 69,000 shares.

 

Victory Capital Management Inc. Reduces Holdings in Steelcase Inc. (NYSE:SCS)

28 January, 2023

Victory Capital Management Inc. reduced its holdings in shares of Steelcase Inc. (NYSE:SCS) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,424,922 shares of the business services provider’s stock after selling 3,605 shares during the quarter. Victory Capital Management Inc. owned approximately 1.26% of Steelcase worth $9,290,000 as of its most recent filing with the Securities and Exchange Commission.

 

Steelcase : and Frank Lloyd Wright Foundation Launch New Collaborative Collection

24 January, 2023

EMBARGO UNTIL JANUARY 25, 2023

Drawing on a connection that began over 80 years ago, the two organizations debut a collection for living and working at home.

Grand Rapids, MI, Jan. 25, 2023 – Steelcase will launch a new work from home collection as part of their relationship with the Frank Lloyd Wright Foundation. Celebrating an icon of modern work, the Frank Lloyd Wright Racine Collection by Steelcase reintroduces, reinterprets and reimagines the classic furniture designs of Wright, originally produced by Steelcase for the SC Johnson Administration building in Racine, Wisconsin in 1939.

Merging beauty and function in his philosophy of organic architecture, Wright’s unique furniture for the SC Johnson building’s Great Workroom pioneered a new way to work. As part of the Frank Lloyd Wright Racine Collection, select Signature pieces will faithfully match the style and finishes of the original furniture, with subtle adjustments to the collection’s proportions and scale to support modern living.

 

 

 

 

MillerKnoll, Steelcase expect flat to lower sales this quarter as order rates soften

22 December, 2022

MillerKnoll Inc. and Steelcase Inc. both expect flat to lower sales for the present quarter going into 2023 amid softer order rates.

The Zeeland-based MillerKnoll (Nasdaq: MLKN) expects organic sales for the second quarter of the 2023 fiscal year to decrease 0.7 percent to 2.9 percent from the same period a year ago, to $980 million to $1.02 billion.

MillerKnoll on Wednesday reported $1.06 billion in sales for the quarter that ended Dec. 6, a 4-percent increase from a year earlier. The corporation recorded $16 million in net income, or 21 cents per diluted share.

 

 

 

Steelcase Announces Appointment of Sanjay Gupta to Board of Directors

Thursday, 20 October, 2022

GRAND RAPIDS, Mich., Oct. 20, 2022 (GLOBE NEWSWIRE) — Steelcase (NYSE: SCS) announced today Sanjay Gupta has been appointed to its board of directors. Gupta is a digital marketing and business leader who is currently serving as the chief marketing officer and chief digital officer at Guaranteed Rate, a leader in mortgage lending and digital financial services.

The Steelcase board continuously evaluates its composition to ensure the board of directors encompasses the requisite and complementary knowledge, expertise, skills and diversity.

 

 

Steelcase Launches Better Futures Community

19 October, 2022

Steelcase (NYSE: SCS) Today Steelcase is announcing the launch of its Better Futures Community, the company’s social innovation program designed to explore new approaches to reducing inequalities, accessing quality education and protecting the planet.

The Steelcase Better Futures Community explores, invests and accelerates bold new ideas and practices in collaboration with organizations throughout the world.

 

Steelcase to reduce spending and lay off 180 salaried positions

Thursday, 22 September, 2022

GRAND RAPIDS, Mich. – A decline in incoming orders and lower than expected return-to-offìce trends in the Americas, has led Steelcase Inc. to implement a further reduction of planned spending including a reduction of approximately $20 million of annualized spending and the elimination of up to 180 salaried positions across America’s core business and corporate functions.

“In response to inflation and supply chain challenges throughout this year, we have been pulling back on our planned level of incremental spending while staying invested in our most critical strategic initiatives,” said Dave Sylvester, senior vice president and CFO, of Steelcase.

Steelcase Named a Best Employer for Women by Forbes

Monday, 01 August, 2022

(GLOBE NEWSWIRE) — Steelcase (NYSE: SCS) is pleased to announce it has been included on the 2022 Forbes List for Best Employers for Women, ranking 13 out of 400 organizations recognized.

The Best Employers for Women have been identified in an independent survey of 50,000 U.S. employees working for companies employing at least 1,000 people within the U.S. The sample included more than 30,000 women. The survey was conducted using several online access panels, providing a representative sample of the U.S. workforce.

 

Though better than expected, Steelcase sales burdened by inflation

23 June, 2022

FurnitureToday Contract and office furniture giant Steelcase reported first quarter revenue of $740.7 million, a loss of $11.4 million over last quarter. Nevertheless, the performance was better than expected and well above last year’s first quarter revenue of $556 million.

“We’re pleased with our revenue growth of 33 percent (over last year), which was better than expected due to stronger incoming orders and improved order fulfillment from the adjustments we’ve made to mitigate the impact of supply chain disruptions,” said Sara Armbruster, president and CEO. “In each of the most recent eight months of reported data, our year-over-year order growth in the Americas has outpaced our industry.