Sales fall at Hooker Furniture

07/06/2007

US furniture manufacturer Hooker Furniture Corporation has reported net sales of $77.3 million for the quarter ended April 29, 14.8%, lower than the $90.7 million reported in the comparable quarter of the prior year. Based on actual shipping days, average daily net sales declined 13.4% to $1.2 million per day during the 64 operating days compared with $1.4 million during the 65 operating days in the 2006 quarter. The company cited “sluggish retail conditions” for the slump in sales, a situation that it expects to continue at least through the summer months.