Steelcase updated its third quarter fiscal 2009 revenue and earnings outlook. The company announced actions to further reduce fixed and operating costs by an estimated $40 million annually.
The overall global economic slowdown and factors contributing to the turmoil in the capital markets are influencing the current demand for office furniture. Order patterns in many of the company’s domestic and international markets have softened more than expected over the quarter, compared to a relatively strong period last year. Steelcase Inc. will webcast a discussion of its third quarter fiscal year 2009 financial results on Monday, December 22, 2008 at 11:00 AM. EST. Links to the webcast and supporting presentation slides will be available at www.steelcase.com/ir on the day of the news release.