Hooker Furniture posts sales increase; but leather sales slip

31/03/2006

Hooker Furniture Corporation has reported first quarter net sales of $85.3 million for the period ended February 28, 2006, a $4.8 million or 6% increase compared with sales of $80.5 million in the 2005 first quarter. Net income for the quarter of $3.6 million exceeded 2005 first quarter net income of $2.9 million.

However, despite an overall improvement in net sales, the company’s upholstered leather furniture brand Bradington-Young posted a slight drop in net sales to $15.8 million, from $15.9 million during the 2005 first quarter.

Ranked as the USA’s sixth largest publicly traded furniture producer based on 2004 shipments to US retailers, Hooker Furniture is an 82-year old importer and manufacturer of residential furniture.