HNI Corp. Announces 2Q Sales Slide
August 15, 2011 | 2:39 am UTC

MUSCATINE, IA – HNI Corp. announced its sales for the second quarter, which ended June 30. The company reported sales of $618.2 million, which is down 7.4% compared to the same period last year. According to the release, the company’s gross margin decreased 7.7% and operating income was down 6.7%, compared to the prior year period.

“Consolidated sales and income for the quarter decreased from the same period last year due mainly to the dramatic decline in the hearth business. However, the office furniture business achieved a 16.2% increase in operating profit despite being challenged by the continued softness in the supplies driven channel,” said Stan Askren, chairman, president and CEO.

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