Hooker Furniture revises outlook for Q2
US-based Hooker Furniture is revising its second quarter sales forecast to a range of flat to 2% lower than its 2005 second quarter sales.
Previously, the company had expected sales between March 1 and May 31 to increase between 3% and 7% compared with 2005 second quarter sales of $88.7 million.
"A softening in business at retail has dampened our expectations for the current quarter," said Paul Toms Jr., chairman and chief executive officer. "We believe this decline has been precipitated by rising energy prices and a decrease in housing activity."