Steelcase Slips On Lower Q2 Profit

Steelcase Inc. (SCS) shares are sliding more than 7 percent on Thursday morning trade after the company reported a decline in second-quarter profit compared to last year.

The company reported quarterly earnings of $19.6 million or $0.17 per share compared to $24.7 million or $0.21 per share a year ago.

Currently, shares are at $8.57, down 7.23 percent from the previous close of $9.24 on a volume of 943,912.

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