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NOTE 16 - SEGMENT INFORMATION | 12 Months Ended
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Jan. 29, 2017
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | NOTE 16 – SEGMENT INFORMATION As a public entity, we are required to present disaggregated information by segment using the management approach. The objective of this approach is to allow users of our financial statements to see our business through the eyes of management based upon the way management reviews performance and makes decisions. The management approach requires segment information to be reported based on how management internally evaluates the operating performance of the company’s business units or segments. The objective of this approach is to meet the basic principles of segment reporting as outlined in ASC 280 Segments (“ASC 280”), which are to allow the users of our financial statements to:
§ | better understand our performance;
§ | better assess our prospects for future net cash flows; and
§ | make more informed judgments about us as a whole.
We define our segments as those operations our chief operating decision maker (“CODM”), our Chief Executive Officer, regularly reviews to analyze performance and allocate resources. We measure the results of our segments using, among other measures, each segment’s net sales, gross profit and operating income, as determined by the information regularly reviewed by the CODM. For financial reporting purposes, we are organized into four operating segments:
§ | Hooker Casegoods, an imported casegoods business;
§ | Upholstery, which includes the domestic upholstery manufacturing operations Bradington-Young and Sam Moore and the imported upholstery operations of Hooker Upholstery;
§ | All Other, which includes H Contract and Homeware, two new businesses started in 2013. Neither of these segments met the ASC 280 aggregation criteria nor were individually reportable; therefore, we combined them in an “All Other” segment in accordance with ASC 280; and
§ | Home Meridian, acquired at the beginning of fiscal 2017, is stand-alone, mostly autonomous business that serves a different type or class of customer than do the legacy Hooker businesses and at much lower margins.
The following table presents segment information for the periods, and as of the dates, indicated:
|  | Fifty-Two Weeks Ended |  |  |  |  |  | Fifty-Two Weeks Ended |  |  |  |  |  | Fifty-Two Weeks Ended |  |  |  |
|  | January 29, 2017 |  |  |  |  |  | January 31, 2016 |  |  |  |  |  | February 1, 2015 |  |  |  |
|  |  |  |  | % Net |  |  |  |  |  | % Net |  |  |  |  |  | % Net |
Net Sales |  |  |  |  | Sales |  |  |  |  |  | Sales |  |  |  |  |  | Sales |
Hooker Casegoods |  | $ | 141,486 |  |  |  | 24.5 | % |  | $ | 155,106 |  |  |  | 62.8 | % |  | $ | 153,882 |  |  |  | 63.0 | %
Upholstery |  |  | 81,965 |  |  |  | 14.2 | % |  |  | 84,090 |  |  |  | 34.0 | % |  |  | 86,362 |  |  |  | 35.3 | %
Home Meridian |  |  | 344,635 |  |  |  | 59.7 | % |  |  | - |  |  |  |  |  |  |  | - |  |  |  |  |
All Other |  |  | 9,133 |  |  |  | 1.6 | % |  |  | 8,033 |  |  |  | 3.3 | % |  |  | 5,025 |  |  |  | 2.1 | %
Intercompany eliminations |  |  | - |  |  |  |  |  |  |  | (230 | ) |  |  |  |  |  |  | (919 | ) |  |  |  |
Consolidated |  | $ | 577,219 |  |  |  | 100.0 | % |  | $ | 246,999 |  |  |  | 100.0 | % |  | $ | 244,350 |  |  |  | 100.0 | %
Gross Profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Casegoods |  | $ | 47,218 |  |  |  | 33.4 | % |  | $ | 47,558 |  |  |  | 30.7 | % |  | $ | 44,868 |  |  |  | 29.2 | %
Upholstery |  |  | 18,949 |  |  |  | 23.1 | % |  |  | 18,852 |  |  |  | 22.4 | % |  |  | 16,489 |  |  |  | 19.1 | %
Home Meridian |  |  | 57,289 |  |  |  | 16.6 | % |  |  | - |  |  |  |  |  |  |  | - |  |  |  |  |
All Other |  |  | 2,655 |  |  |  | 29.1 | % |  |  | 2,252 |  |  |  | 28.0 | % |  |  | 1,465 |  |  |  | 29.2 | %
Intercompany eliminations |  |  | 10 |  |  |  |  |  |  |  | 26 |  |  |  |  |  |  |  | (22 | ) |  |  |  |
Consolidated |  | $ | 126,121 |  |  |  | 21.8 | % |  | $ | 68,688 |  |  |  | 27.8 | % |  | $ | 62,800 |  |  |  | 25.7 | %
Operating Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Casegoods |  | $ | 18,543 |  |  |  | 13.1 | % |  | $ | 18,509 |  |  |  | 11.9 | % |  | $ | 17,286 |  |  |  | 11.2 | %
Upholstery |  |  | 6,043 |  |  |  | 7.4 | % |  |  | 6,020 |  |  |  | 7.2 | % |  |  | 2,871 |  |  |  | 3.3 | %
Home Meridian |  |  | 14,375 |  |  |  | 4.2 | % |  |  | - |  |  |  |  |  |  |  | - |  |  |  |  |
All Other |  |  | 249 |  |  |  | 2.7 | % |  |  | (293 | ) |  |  | -3.6 | % |  |  | (1,087 | ) |  |  | -21.6 | %
Intercompany eliminations |  |  | 10 |  |  |  |  |  |  |  | 26 |  |  |  |  |  |  |  | (22 | ) |  |  |  |
Consolidated |  | $ | 39,220 |  |  |  | 6.8 | % |  | $ | 24,262 |  |  |  | 9.8 | % |  | $ | 19,048 |  |  |  | 7.8 | %
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Casegoods |  | $ | 1,193 |  |  |  |  |  |  | $ | 2,219 |  |  |  |  |  |  | $ | 2,124 |  |  |  |  |
Upholstery |  |  | 972 |  |  |  |  |  |  |  | 621 |  |  |  |  |  |  |  | 830 |  |  |  |  |
Home Meridian |  |  | 280 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
All Other |  |  | 9 |  |  |  |  |  |  |  | 7 |  |  |  |  |  |  |  | 40 |  |  |  |  |
Consolidated |  | $ | 2,454 |  |  |  |  |  |  | $ | 2,847 |  |  |  |  |  |  | $ | 2,994 |  |  |  |  |
Depreciation & Amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Casegoods |  | $ | 2,214 |  |  |  |  |  |  | $ | 1,808 |  |  |  |  |  |  | $ | 1,591 |  |  |  |  |
Upholstery |  |  | 947 |  |  |  |  |  |  |  | 1,126 |  |  |  |  |  |  |  | 1,005 |  |  |  |  |
Home Meridian |  |  | 4,704 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
All Other |  |  | 135 |  |  |  |  |  |  |  | 12 |  |  |  |  |  |  |  | 3 |  |  |  |  |
Consolidated |  | $ | 8,000 |  |  |  |  |  |  | $ | 2,946 |  |  |  |  |  |  | $ | 2,599 |  |  |  |  |
|  | As of January 29, |  |  |  |  |  |  | As of January 31, |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 2017 |  |  | %Total |  |  | 2016 |  |  | %Total |  |  |  |  |  |  |  |  |
Identifiable Assets |  |  |  |  |  | Assets |  |  |  |  |  |  | Assets |  |  |  |  |  |  |  |  |
Hooker Casegoods |  | $ | 130,917 |  |  |  | 41.1 | % |  | $ | 146,794 |  |  |  | 80.8 | % |  |  |  |  |  |  |  |
Upholstery |  |  | 32,275 |  |  |  | 10.1 | % |  |  | 34,010 |  |  |  | 18.7 | % |  |  |  |  |  |  |  |
Home Meridian |  |  | 154,954 |  |  |  | 48.6 | % |  |  | - |  |  |  |  |  |  |  |  |  |  |  |  |
All Other |  |  | 554 |  |  |  | 0.2 | % |  |  | 863 |  |  |  | 0.5 | % |  |  |  |  |  |  |  |
Intercompany eliminations |  |  | (4 | ) |  |  |  |  |  |  | (14 | ) |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 318,696 |  |  |  | 100.0 | % |  | $ | 181,653 |  |  |  | 100.0 | % |  |  |  |  |  |  |  |
Sales by product type are as follows:
|  | Net Sales (in thousands) |
|  | Fiscal |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Casegoods |  | $ | 391,347 |  |  | $ | 158,963 |  |  | $ | 156,464 |
Upholstery |  |  | 185,872 |  |  |  | 88,036 |  |  |  | 87,886 |
|  | $ | 577,219 |  |  | $ | 246,999 |  |  | $ | 244,350 |
No significant long-lived assets were held outside the United States at either January 29, 2017 or February 1, 2015. International customers accounted for approximately 2% of consolidated invoiced sales in fiscal 2017 and fiscal 2016 and 6% of consolidated invoiced sales in fiscal 2015.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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