Hooker Furniture plans to close in late August with a manufacturing plant in Roanoke, Virginia, which employs 20 percent of its workforce, a furniture maker said on Wednesday.
This step followed the drop-off in orders for wood furniture produced in the United States and increased demand for imported products, the company said.
Hooker expects to record after-tax charges of $ 2.8 million to $ 3.1 million, or 23 cents to 26 cents per share, with at least 85 percent of the cost to be recorded in the third quarter, the company said. www.today.reuters.com
This step followed the drop-off in orders for wood furniture produced in the United States and increased demand for imported products, the company said.
Hooker expects to record after-tax charges of $ 2.8 million to $ 3.1 million, or 23 cents to 26 cents per share, with at least 85 percent of the cost to be recorded in the third quarter, the company said. www.today.reuters.com
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