MANUFACTURER PROFITS DROP AS RETAILER ANNOUNCES UK PLAN

10th September | international | US furniture manufacturer Hooker Furniture has seen second quarter profit fall by 57% to $2.1m in the period to 3rd August.

Sales dropped 12% to $64.6m as the firm blamed the housing market dip and increased raw material costs for its financial performance.

Meanwhile fellow American firm Ethan Allen has confirmed the UK does form a part of its European expansion plan, but only after it has launched in Central Europe.

The company, which manufactures and retails, announced earlier in the week that it had hired Gregor Noelle to spearhead its European growth plan.

- Read about Ethan Allen’s European expansion plan