HNI downgrades profit expectations amid worker, supply shortage

HNI downgrades profit expectations amid worker, supply shortage

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BPC Staff | Sep 24, 2021 | 3:34 pm |

<1 min read time

| 72 words | All Latest News, Insurance & Investments, Iowa News, Manufacturing & Logistics

Executives at furniture manufacturer HNI Corp. said they couldn't hire enough workers or get enough supplies at a low enough price this summer, leading the company to earn less money than leaders hoped.

Des Moines Register: Executives at furniture manufacturer HNI Corp. said they couldn’t hire enough workers or get enough supplies at a low enough price this summer, leading the company to earn less money than leaders hoped. The Muscatine-based multinational company on Thursday downgraded its earnings outlook for the quarter that closes at the end of this month. The company said profits will be down 25-35% compared with the same quarter last year.

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