MARTINSVILLE, VA – Hooker Furniture reported third quarter net sales of $69.0 million, a decrease of $14.8 million or 17.6% compared to the same period of one year ago. Despite the decline, Hooker posted 3Q net income of $3.0 million.
“Given the unprecedented economic stress and historically low levels of consumer confidence, we're modestly pleased with our third quarter results," said Paul B. Toms Jr., chairman, CEO and president. "In this environment, we’re gratified not only that we've remained profitable, but also to have improved our operating income margin compared to the second quarter and first half. Obviously we're disappointed that we weren't able to stabilize sales and operate at historical profit levels. We believe our business model has proven once again the ability to keep us competitive, well-positioned and profitable despite economic adversity."
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