Hooker Furniture reports fall in sales
For the first half of fiscal 2005, the company reported net sales of $169.2 million, a 0.3% decrease from record first half sales of $169.7 million for the same 2004 period.
During the second quarter, sales of Bradington-Young upholstered leather furniture increased $2.5 million or 16.4%, to $17.8 million from $15.3 million during the prior year period.
“We are pleased to have produced sales increases in upholstered and imported furniture during a time of industry-wide soft business at retail,” said Paul B. Toms Jr., chairman and CEO. “While disappointed that this is the first quarter in over three years that we have not posted an overall year-over-year sales increase for the company, we believe that our long term strategy is sound and progressing well.”
Hooker Furniture manufactures and imports upholstered leather and fabric-covered furniture, wall units, home office, bedroom, and casual and formal dining furniture. Ranked as the nation's sixth largest publicly traded furniture producer based on 2004 shipments to US retailers, it employs approximately 1,700 employees and operates seven manufacturing facilities.
