MARTINSVILLE, VA – Hooker Furniture Corp. reported net sales of $64.6 million for the second quarter of fiscal 2009 ended Aug. 3, which was 12.0% down from the prior year period. The second quarter net income of $2.1 million was down 57.3% from the same period last year.
“The summer business environment was even more challenging than anticipated,” said Paul B. Toms Jr., chairman, CEO and president. “While our top and bottom line performance for the quarter was disappointing, we have taken the steps necessary to reduce costs and increase efficiencies. Our ability to generate a modest profit despite the prolonged economic downturn continues to validate our business model.”
For the first half of fiscal 2009, net sales declined $15.1 million, or 10.0%, to $135.7 million compared to the first half of 2008.
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