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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 […]
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 […]
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 […]
McKinnon and Harris names president
Richmond-based outdoor furniture maker McKinnon and Harris has promoted Ken Dail to president, the company announced Tuesday. Co-founder Will Massie will become CEO and continue to play an active role in new product development and progressing the company’s long-term vision. Dail has been at McKinnon and Harris for 12 years and most recently served as […]
