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HNI Suspends 2020 Outlook

HNI Corp. (HNI) said it has suspended its fiscal 2020 sales and earnings forecast due to the uncertainty caused by the coronavirus pandemic.

At the end of the first quarter 2020, the company had $233 million in total debt.

The company noted that its liquidity position is strong, and it is taking actions to ensure the long-term health of its organization. Accordingly, it is reducing operating costs, lowering capital expenditures, and temporarily suspending its share repurchase activity to support free cash flow.

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