Hooker Furniture sales increase offset by leather furniture decline
Hooker Furniture Corporation has reported net sales of $90.7 million for the quarter ended May 31, representing a $2 million, or 2.3% increase, from $88.7 million compared with the prior year quarter. Second quarter net income increased 20% to $5.8 million from $4.9 million in the prior year period.
For the year-to-date six months, the company achieved net sales of $176 million, representing a $6.8 million, or 4% increase, from $169.2 million in the same period last year.
Net sales of Bradington-Young's upholstered leather furniture experienced a decline for both the quarterly and six-month periods. For the second quarter, Bradington-Young sales declined 4% or $718,000, to $17.1 million compared with 2005 sales of $17.8 million.
During the first six months of 2006, Bradington-Young sales were $32.9 million, 2.4% below sales of $33.7 million for the same period in 2005.