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Economy

Sales & Profits Rise for HNI

HNI.Logo_.jpg

Sales and profits rose last year for HNI Corporation. Based in Muscatine, the maker of office furniture and fireplace hearth products reports sales in 2018 went up nearly 4 per cent, and earnings per share rose 5 1/2 per cent. 

Full year office furniture net sales increased 2.7 percent from the prior year, while hearth product sales for the year went up 7 percent, thanks to increases in the new construction and retail businesses.

For the first quarter of this year, HNI predicts sales will drop 3 to 5 percent, but by the end of the year it's expecting an increase of 2 to 6 per cent. Profits could reach $2.50 to $2.90 per share up from this year's $2.11.