GRAND RAPIDS, MI – Office furniture manufacturer Steelcase Inc. announced third quarter profits of $31.3 million, which is down from $32.8 million during the same period last year, according to mlive.com

Overall, the company’s profits were reduced by $11.3 million for the quarter ended Nov. 23. However, sales beat the pace of last year, reaching $885.9 million, compared to $802 million last year. Additionally, the company increased its stock repurchase program by $250 million.

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