Hooker Furniture (Nasdaq:HOFT) today reported consolidated net sales of $218.4 million and net income of $8.6 million, or $0.80 per share, for its fifty-three week fiscal year ended February 3, 2013.
A small amount of wood dust, brass, PVC or other elements on furniture and household items might seem trivial to many. The state of California, however, has taken the issue of ingredients in consumer products to a whole new level with its Safe Drinking Water and Toxic Enforcement Act, known as "Proposition 65."
Hooker Furniture Corporation reported net sales of $56.8 million for its fiscal 2013 third quarter, a 4.8%, or $2.6 million, increase over the same period a year ago. Net income rose 7.7%, or $175,000, to $2.4 million, or $0.23 per share compared to $0.21 per share in last year's third quarter.
Nailhead trim, once reserved for leather chairs and sofas, is enjoying a surge in popularity, says the American Home Furnishings Alliance, iHooker Furniture, Hickory Chair, and HGTV HOME furnishings from Bassett use it.
Hooker Furniture announced the launch of its Rhapsody Collection, which it says provides a casual yet sophisticated look for living space. The collection includes furniture for the living room, bedroom, dining room, home office and home entertainment.
Hooker Furniture CEO Tom Price says wood industry and other execs are on hold on spending and investment until the election. Which presidential candidate can do the most for the wood manufacturing industry?