GRAND RAPIDS, MI – Office furniture manufacturer Steelcase Inc. reported lower quarterly net earnings as commodity cost inflation outpaced price increases, according to guardian.co.uk. Second-quarter earnings fell to $31.4 million from $37.7 million a year earlier.
“We continue to face tremendous commodity cost inflation, which is expected to out-pace our recent pricing actions for another quarter or two,” said CFO David Sylvester.
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“We continue to face tremendous commodity cost inflation, which is expected to out-pace our recent pricing actions for another quarter or two,” said CFO David Sylvester.
Read more.
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