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Hooker Furniture Revises Outlook for Second Quarter 2005

Furniture World News


Hooker Furniture has revised its sales outlook for the Company's 2005 second quarter encompassing the March 1 to May 31 time period. Against record 2004 second quarter sales of $91.5 million, revenues for the company are expected to be down approximately 5% to 7%. Previously, the company had said it expected second quarter sales to be "on par" with the same period a year ago. "Business at retail has weakened as the quarter unfolded," said Paul B. Toms Jr., chairman and chief executive officer. "Since our quick-ship program allows dealers to order as needed to meet demand, soft activity at retail is felt almost immediately in our shipment levels." Ranked among the nation's top 10 publicly traded furniture producers based on furniture shipments to U.S. retailers, Hooker Furniture is an 81-year old manufacturer and importer of home theater, wall units, home office, bedroom and youth bedroom, casual and formal dining, accent and occasional pieces, and upholstered leather and fabric-covered furniture. With approximately 1,700 employees, the Company operates seven manufacturing facilities, a supply plant, three showrooms, a corporate headquarters and five distribution centers and warehouses in Virginia and North Carolina. The Company also utilizes a distribution center and warehouse in China. The Company's stock is listed on the NASDAQ SmallCap Market under the symbol HOFT, and closed at $16.50 on May 12, 2005. Please visit our websites at www.hookerfurniture.com and www.bradington-young.com.