Hooker Furniture revises outlook for Q2

16/05/2005

US furniture producer, Hooker Furniture, has revised its sales outlook for the company's 2005 second quarter encompassing the March 1 to May 31 time period. Against record 2004 second quarter sales of $91.5 million, revenues for the company are expected to be down approximately 5% to 7%. The company had previously said it expected second quarter sales to be "on par" with the same period a year ago.

 

"Business at retail has weakened as the quarter unfolded," said Paul B. Toms Jr., chairman and chief executive officer. "Since our quick-ship program allows dealers to order as needed to meet demand, soft activity at retail is felt almost immediately in our shipment levels."

 

With approximately 1,700 employees, the company operates seven manufacturing facilities, a supply plant, three showrooms, a corporate headquarters and five distribution centres and warehouses in Virginia and North Carolina.