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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 fo[...]
Carolina Structural Systems to establish Greensville plant
Carolina Structural Systems, a company that manufactures custom wood trusses and other structural products, will invest $5.5 million and create an estimated 58 jobs in Greensville County, Gov. Glenn Youngkin announced Monday. Based in North Carolina, Carolina Structural Systems plans to construct a 40,000-square-foot manufacturi[...]
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. Si[...]
Volkswagen’s U.S. subsidiary names new president and CEO
Rivian Automotive’s Kjell Gruner will become the new president and CEO of Volkswagen Group of America on Dec. 12, the Reston-headquartered subsidiary of the German automaker announced Tuesday. Gruner succeeds Pablo Di Si, who “has stepped down … on his own request,” according to a news release. Di Si assumed the role in [...]
Specialty coils manufacturer to expand in Chesterfield
Super Radiator Coils, an engineering and manufacturing company based in Minnesota, will invest $22 million to expand in Chesterfield County, creating an estimated 160 jobs, Gov. Glenn Youngkin’s office announced Friday. The company will upgrade machinery and add about 80,000 square feet to its existing approximately 160,000-sq[...]
Carpenter notches acquisition No. 3 with Casper buy
Richmond-based international foam producer Carpenter has acquired omnichannel bedding brand Casper Sleep. Under the agreement, Casper will operate as a subsidiary of Carpenter. This marks the third acquisition Carpenter has made in the past 16 months. In November 2023, Carpenter acquired North Carolina-based NCFI Polyurethanes.[...]
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 om[...]
Dairy products manufacturer to expand in Augusta
Shamrock Farms, an Arizona-based dairy products manufacturer, will invest $59 million to expand its Augusta County manufacturing operation, Gov. Glenn Youngkin announced Tuesday. Shamrock Farms expects to create 28 jobs through the expansion, which will add 81,000 square feet to the manufacturer’s 250,000-square-foot facility in Mill Place Commerce Park. The company opened its Augusta facility […][...]
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[...]
Marble Systems to build facility in Caroline County
A Fairfax County-based stone products manufacturer and distributor, Marble Systems, will invest $9.7 million on a warehouse and distribution center in Caroline County, creating an estimated 59 jobs, Gov. Glenn Youngkin announced Friday. Virginia competed with South Carolina, New Jersey and Georgia for the project, which will also include cut stone and stone product manufacturing […]
Boar’s Head to indefinitely shutter Va. facility tied to fatal listeria outbreak
Deli meat company Boar’s Head Provisions Co. is indefinitely shutting down its meat production facility in Jarratt, the source of a listeria outbreak that killed at least nine people and hospitalized 57 others. The plant has not been operating since late July. The Centers for Disease Control and Prevention opened an investigat[...]
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,[...]
