Hooker Furniture posts losses

Hooker Furniture posts losses
Hooker Furniture Headquarters / Google Maps

Hooker Furniture with headquarters in Martinsville has posted an operating loss of $5.2 million for the first quarter of the year that ended April 28. Company officials blamed it on an industrywide downturn that has resulted in lower sales. They said they will begin to implement cost reductions of 10% of its fixed costs in the second half of this year in order to preserve capital.