Steelcase slides after plunging into loss in Q4

Steelcase

24/03/2022 14:53

** Shares of office furniture co  SCS.N  down 7.95% at $11 
    ** Posts Q4 loss of $2.2 mln vs year-ago profit of $6.6 mln,
hurt by supply chain snarls and higher freight and labor costs
 urn:newsml:reuters.com:*:nGNXZrrNr
    ** But revenue of $753.1 mln edges past estimates of $752.7
mln, thanks to higher demand as more people return to offices
    ** Co also sees Q1 loss per share between $0.15 and $0.20
mainly due to higher costs 
    ** SCS down ~6% YTD 

 (Reporting by Nathan Gomes in Bengaluru)
 ((Nathan.Gomes@thomsonreuters.com;))