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North Carolina furniture manufacturer: Business is great; Trump’s tariffs are one reason
HIGH POINT — Last fall, Chris Morris saw an opportunity in residential upholstery manufacturing and decided to revise his business strategy to accommodate it. With an eye on upholstery manufacturers seeking out a domestic, private-label partner, Morris created a plan to increase production for residential upholstery at his Vision Contract Manufacturing factory in High Point. Less than [&hellip[...]
Vaughan-Bassett touts made-in-America inventory, vows no immediate price increases in wake of tariffs
Made-in-America bedroom and dining furniture manufacturer Vaughan-Bassett, which is headquartered in Galax, sent a letter to dealers and sales reps Thursday morning announcing no price increases for 120 days and discounts on certain items in wake of the tariffs announced Wednesday. “Given the great uncertainty created in the home furnishings marketplace as significant tariffs will […]
Hooker exits Georgia warehouse as part of consolidation effort
Martinsville-based Hooker Furnishings announced this week that it will end operations at its Savannah, Georgia, warehouse as part of a consolidation effort. “Our decision to exit our Savannah distribution facility was not taken lightly,” Hooker Furnishings CEO Jeremy Hoff said in a statement. “We deeply appreciate the hospitality and support received from the state of […]
Hooker Furnishings adds showroom dedicated to international audience
Martinsville-based Hooker Furnishings is demonstrating its commitment to serving a worldwide audience with the debut of its dedicated International Buyer Showroom at the upcoming High Point Market in North Carolina that will run April 26-30. Set apart from its flagship showroom, the dedicated 5,000-square-foot space is located on the second floor of Showplace in space 2340 […]
Furniture manufacturer shuts down Canadian operations, moves production to N.Carolina
DELTA, British Columbia — Canadian ready-to-assemble furniture supplier Prepac has reportedly shut down its manufacturing operations in Delta, British Columbia, shifting all production to its facility in North Carolina instead. According to Unifor, the union that represents Prepac’s workers, tariffs are to blame. More than 170 workers will be laid off. “Our union has been […]
Trump probes lumber, timber imports for potential tariffs; names furniture as derivative product
WASHINGTON – Does the U.S.’ reliance on imported lumber and timber constitute a threat to national security? That’s what the Trump Administration aims to find out through a new executive order. “The wood products industry – composed of timber, lumber, and their derivative products (such as paper products, furniture, and cabinetry) – is a critical manufacturing […]
Bassett returns to profitability in Q4, beats expectations
Bassett Furniture reported revenue of $84.3 million in the fourth quarter, an 11% decrease from last year, on Wednesday. However, a positive operating income of $900,000 means the company has returned to profitability after five consecutive quarters in the red. The Henry County home furniture manufacturer and retailer beat expectations by a long shot, with […]
Customer bankruptcy, severance charges push Hooker’s loss in Q3
Martinsville-based Hooker Furnishings reported consolidated net sales of $104.4 million in the third quarter ended Oct. 27, a decrease of $12.5 million, or 10.7%, from last year. It also reported an operating loss of $7.3 million, marking its third quarterly loss in a row. The company attributed ongoing low demand as a reason for the […]
Bassett Furniture reduces workforce by 40
Bassett Furniture has announced a series of layoffs and retirements in a bid to better match its cost structure to the current rate of business, the home furniture manufacturer and retailer said in a news release Wednesday. This round of reductions, which included layoffs, early retirements and attrition, impacted 40 workers. Since the start of […]
Bassett Furniture names new chief marketing officer
Home furniture manufacturer and retailer Bassett Furniture has named Tony Chivari as its new chief marketing officer. Chivari has held similar positions with 1-800-Flowers.com, Gem Shopping Network and Things Remembered. “We are very excited to welcome Tony to the Bassett team as we continue our journey to become a national omnichannel provider of home furnishings,” […]
Bassett reports Q3 loss, with performance hurt by cyberattack
Bassett Furniture reported $75.6 million in consolidated third quarter sales, a 13.3% decline from last year and a 9% drop from last quarter. It also recorded an operating loss of $6.4 million, its fifth consecutive loss. The overall loss included a $1.2 million loss on a logistical services contract the company chose to abandon to […]
Hooker CEO talks layoffs, other takeaways from Q2 earnings report
This story is republished with permission from Furniture Today. Martinsville-based Hooker Furnishings reported $95.1 million in consolidated net sales for the second quarter last week, a 2.8% drop from last year. It marked the second consecutive quarterly loss for the company, at $3.1 million. Other than the usual sales figures, there were a few notable […]
