Office furniture sales bouncing back at HNI
Muscatine-based furniture maker HNI Corp. saw its office furniture sales increase 7.8 percent in the second quarter of 2010, compared with the same period a year earlier.
In a report to the Securities and Exchange Commission filed on Aug. 5, HNI noted that the second quarter brought “growth in all channels of the office furniture industry.”
The company’s other main segment, hearth products, experienced a 2.3 percent decrease in sales for the quarter. This result was “driven by a decline in the remodel-retrofit channel partially offset by an increase in the new construction channel,” according to the HNI report.
Earlier in the year, HNI decided to sell “a non-core business of the office furniture segment and sold a non-core component of the hearth products segment,” and also “made the decision in the first quarter of fiscal 2010 to close an office furniture manufacturing facility located in Salisbury, N.C., and consolidate production into existing office furniture manufacturing facilities.”