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For education and discussion only. Not for commercial use. MARTINSVILLE, Va.--(BUSINESS WIRE)--July 27, 2005--In a move to better match domestic manufacturing capacity to demand, Hooker Furniture (Nasdaq:HOFT) announced today that it plans to close its Pleasant Garden, N.C. plant by October 2005. For several years, the Company has experienced decreased order and shipment rates for its domestically produced wood furniture and increased demand and sales for its imported wood and metal furniture. This mirrors an industry trend that has forced many U.S. wood furniture manufacturers to curtail operations. The Company also closed its Maiden, N.C. plant in 2004 and its...

For education and discussion only. Not for commercial use. Import sales keep climbing, but declining sales of Hooker Furniture's domestically produced furniture leave employees in Virginia and North Carolina working less than 40 hours per week and facing one-week factory shutdowns in each of three upcoming months. Hooker Furniture recently reported the company set a new quarterly record with sales of $80.1 million for the second quarter ended May 31, an increase of nearly 29 percent when compared to the second quarter of 2002. The company also set a six-month record, with sales of $154.6 million for the first half...