Markets
U.S. open in 34 hrs, 35 mins
BUSINESS NEWS
- Market News
- Earnings
- Recalls
- Recession Watch
- Tech News
- Financial Crisis
- Madoff Scandal
- BloggingStocks
- Luxist
- Money Videos
INVESTING
- Stock Quotes
- Stock Charts
- Stock Ticker
- Currencies
- Portfolio
- Stock Screener
- Broker Center
- Mutual Fund Center
- ETF Center
- Money
- 24/7 Wall St.
- Financial Glossary
PERSONAL FINANCE AT WALLETPOP
- Bargains
- Banking
- Budget
- Calculators
- College Finance
- Community
- Credit
- Deals
- Debt
- Economizer
- Food
- Home
- Fraud
- Insurance
- Interest Rates
- Loans
- Mortgages
- Real Estate
- Recalls
- Recession
- Retirement
- Saving
- Simplification
- Specials
- Taxes
SMALL BUSINESS
Hooker Furniture takes 1Q loss as sales slide
AP ONLINE
posted: 80 DAYS 5 HOURS AGO
MARTINSVILLE, Va. (AP) — Hooker Furniture said it took a loss in the fiscal second quarter as the recession cut into its sales.
In the three months ended Aug. 2, the company said it lost $463,000, or 4 cents per share. The company posted a profit of $2.1 million, or 18 cents per share, a year ago. Revenue shrank 29 percent, to $46 million from $64.6 million.
Hooker said sales fell because of the economic downturn and added that this time of year is usually the weakest period for furniture sales. However the company said it believes the recession may be over, as the housing markets are getting better, the pace of job losses has decreased and consumer confidence is up. It said orders in August were highest in 10 months.
COMMENTS ( 0 )