Steelcase down after weak forecast, job cut plans

Steelcase

21/09/2022 22:18

** Shares of furniture maker Steelcase Inc  SCS.N  down 2.6%
at $9 in extended trading
    ** Co expects adj. profit of $0.17/shr to $0.21/shr for Q3,
lower than Refinitiv IBES estimate of $0.23/shr  urn:newsml:reuters.com:*:nGNX171hnS
    ** SCS says supply chain disruptions to continue, because of
which co plans to reduce costs and potentially cut jobs
    ** As of Wednesday's close, stock had lost over a fifth of
its value YTD

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))