Steelcase uses price hike, alternative sources to tackle supply chain challenges — Panjiva
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Steelcase uses price hike, alternative sources to tackle supply chain challenges

China 3053 Cons. Discr. - Durables 575 Earnings 759 Quote Watch 452 South Korea 605 Taiwan 231 U.S. 5404

Office furniture producer Steelcase reported revenues which fell by 28.4% year over year as the firm sought to navigate “multiple supply chain challenges in addition to the resurgence of COVID” according to CEO Jim Keane. The challenges included container shortages and port congestion, in common with many of its competitors. The firm has also faced increased costs leading it to use “air freight and procurement of materials outside of our normal course” as well as announcing “a price increase that will begin to offset some of the inflation”. U.S. sea...

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