Good Purchasing Opportunity for Savvy Furniture Consumers Thanks to Strong Fiscal Report at Hooker Furniture
Philadelphia, Pennsylvania, USA - (December 12, 2013) Hooker Furniture Corporation just reported its fifth consecutive quarter of increased sales in an economy that many still argue is sluggish at best. But this good news, in a luxury business category, is more than good news for just the 89 year old Hooker Furniture Corporation. The strategy the company is using to drive this stellar performance provides some strong potential purchasing opportunities for design lovers and design consumers into early 2014.
For some time now, both interior design and furniture industry watchers have been noting continued pent up demand from design consumers. By all accounts, sales across a variety of home categories are showing an uptick, aided by the improving housing market and continued stock market gains. Still for Hooker Furniture, which ranks among the country’s top 10 largest publicly traded furniture suppliers, posting steady increases for each of the last 5 quarters is impressive in an uncertain economy. Hooker is known for their mid-tier furniture collections.
The better news for design consumers is the strategy Hooker is employing to drive their profitability. The company’s 14.1% increase in YTD gross profit is not just attributed to increased sales of strong in-line items, but also to a marked push to sell off weaker performing and soon-to-be discontinued product(s) at reduced pricing. This strategy is expected to continue at least into early 2014 since the company reports inventory levels that remain at 10% above target.
“Seeing a formidable player like Hooker posting good news is refreshing after the recent tumultuously hard hitting years for much of the design and home furnishings industry”, says Donna Hoffman, one of the country’s foremost consumer advocates in interior design. “But beyond this feel good news for Hooker, there is a great purchasing opportunity for wise design consumers if they can move to purchase in early 2014. Consumers can expect to see slightly more deeply reduced prices on soon-to-be discontinued product, which by nature is not ‘bad’ product, these items were just not ranked among Hooker’s top sellers.”
Hoffman, is the founder of The Interior Design Advocate™, a consumer advocacy website, where she provides a free report “The 10 Ten Ways Design Consumers Waste Big Money”. Hoffman, a former QVC showhost and award winning interior designer today is on a mission to help people avoid wasting money when furnishing or designing their home by offering clear strategies for finding the right products, contractors or services. “Consumers have to know what they’re doing in design and furnishings, or they can hemorrhage money in all the wrong places,” Hoffman cautions. Furniture costs add up quickly when doing a full room in a home. Purchasing from Hooker’s excess inventory could provide a nice “win-win” for everyone.
The Interior Design Advocate™ website, www.theinteriordesignadvocate.com is dedicated to teaching interior design consumers to get what they want, spend smart and get the beautiful home of their dreams.
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- Donna Hoffman
- The Interior Design Advocate
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