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13. Segment Information | 9 Months Ended
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Oct. 29, 2017
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | 13. 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 Accounting Standards Codification Topic 280, “Segment Reporting” (“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”) 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 reportable segments:
§ | Hooker Casegoods, an imported casegoods business;
§ | Upholstery, which includes the domestic upholstery manufacturing operations of Bradington-Young, Sam Moore, Shenandoah Furniture and the imported upholstery operations of Hooker Upholstery;
§ | Home Meridian, a business acquired at the beginning of fiscal 2017, is a stand-alone, mostly autonomous business that serves a different type or class of customer than do our other operating segments and at much lower margins; and
§ | All other, which includes H Contract and Homeware, two 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. We note that Homeware failed to reach critical mass and its operations were wound down during the fiscal 2018 second quarter.
The following table presents segment information for the periods, and as of the dates, indicated:
|  | Thirteen Weeks Ended |  |  | Thirty-Nine Weeks Ended |
|  | October 29, |  |  |  |  |  | October 30 |  |  |  |  |  | October 29, |  |  |  |  |  | October 30 |  |  |  |
|  | 2017 |  |  |  |  |  | 2016 |  |  |  |  |  | 2017 |  |  |  |  |  | 2016 |  |  |  |
|  |  |  |  | % Net |  |  |  |  |  | % Net |  |  |  |  |  | % Net |  |  |  |  |  | % Net |
Net Sales |  |  |  |  | Sales |  |  |  |  |  | Sales |  |  |  |  |  | Sales |  |  |  |  |  | Sales |
Hooker Casegoods |  | $ | 36,373 |  |  |  | 23.0 | % |  | $ | 36,861 |  |  |  | 25.4 | % |  | $ | 104,067 |  |  |  | 23.4 | % |  | $ | 103,372 |  |  |  | 25.6 | %
Upholstery |  |  | 26,701 |  |  |  | 16.9 | % |  |  | 19,664 |  |  |  | 13.5 | % |  |  | 71,247 |  |  |  | 16.0 | % |  |  | 61,404 |  |  |  | 15.2 | %
Home Meridian |  |  | 92,068 |  |  |  | 58.3 | % |  |  | 86,053 |  |  |  | 59.2 | % |  |  | 262,173 |  |  |  | 58.9 | % |  |  | 231,391 |  |  |  | 57.4 | %
All other |  |  | 2,792 |  |  |  | 1.8 | % |  |  | 2,720 |  |  |  | 1.9 | % |  |  | 7,627 |  |  |  | 1.7 | % |  |  | 7,125 |  |  |  | 1.8 | %
Intercompany eliminations |  |  | - |  |  |  |  |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  |  |  |  |  | - |  |  |  |  |
Consolidated |  | $ | 157,934 |  |  |  | 100.0 | % |  | $ | 145,298 |  |  |  | 100 | % |  | $ | 445,114 |  |  |  | 100.0 | % |  | $ | 403,292 |  |  |  | 100 | %
Gross Profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Casegoods |  | $ | 11,346 |  |  |  | 31.2 | % |  | $ | 12,081 |  |  |  | 32.8 | % |  | $ | 32,984 |  |  |  | 31.7 | % |  | $ | 32,897 |  |  |  | 31.8 | %
Upholstery |  |  | 6,190 |  |  |  | 23.2 | % |  |  | 4,311 |  |  |  | 21.9 | % |  |  | 17,255 |  |  |  | 24.2 | % |  |  | 14,029 |  |  |  | 22.8 | %
Home Meridian |  |  | 15,808 |  |  |  | 17.2 | % |  |  | 13,742 |  |  |  | 16.0 | % |  |  | 42,875 |  |  |  | 16.4 | % |  |  | 36,865 |  |  |  | 15.9 | %
All other |  |  | 934 |  |  |  | 33.4 | % |  |  | 791 |  |  |  | 29.1 | % |  |  | 2,420 |  |  |  | 31.7 | % |  |  | 2,204 |  |  |  | 30.9 | %
Intercompany eliminations |  |  | - |  |  |  |  |  |  |  | 1 |  |  |  |  |  |  |  | 4 |  |  |  |  |  |  |  | 8 |  |  |  |  |
Consolidated |  | $ | 34,278 |  |  |  | 21.7 | % |  | $ | 30,926 |  |  |  | 21.3 | % |  | $ | 95,538 |  |  |  | 21.5 | % |  | $ | 86,003 |  |  |  | 21.3 | %
Operating Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Casegoods |  | $ | 3,990 |  |  |  | 11.0 | % |  | $ | 5,092 |  |  |  | 13.8 | % |  | $ | 11,918 |  |  |  | 11.5 | % |  | $ | 11,514 |  |  |  | 11.1 | %
Upholstery |  |  | 2,199 |  |  |  | 8.2 | % |  |  | 1,178 |  |  |  | 6.0 | % |  |  | 6,807 |  |  |  | 9.6 | % |  |  | 4,256 |  |  |  | 6.9 | %
Home Meridian |  |  | 4,607 |  |  |  | 5.0 | % |  |  | 3,503 |  |  |  | 4.1 | % |  |  | 10,658 |  |  |  | 4.1 | % |  |  | 5,956 |  |  |  | 2.6 | %
All other |  |  | 409 |  |  |  | 14.6 | % |  |  | 165 |  |  |  | 6.1 | % |  |  | 721 |  |  |  | 9.5 | % |  |  | 430 |  |  |  | 6.0 | %
Intercompany eliminations |  |  | - |  |  |  |  |  |  |  | 1 |  |  |  |  |  |  |  | 4 |  |  |  |  |  |  |  | 8 |  |  |  |  |
Consolidated |  | $ | 11,205 |  |  |  | 7.1 | % |  | $ | 9,939 |  |  |  | 6.8 | % |  | $ | 30,108 |  |  |  | 6.8 | % |  | $ | 22,164 |  |  |  | 5.5 | %
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Casegoods |  | $ | 268 |  |  |  |  |  |  | $ | 343 |  |  |  |  |  |  | $ | 1,259 |  |  |  |  |  |  | $ | 1,065 |  |  |  |  |
Upholstery |  |  | 145 |  |  |  |  |  |  |  | 430 |  |  |  |  |  |  |  | 359 |  |  |  |  |  |  |  | 638 |  |  |  |  |
Home Meridian |  |  | 580 |  |  |  |  |  |  |  | 122 |  |  |  |  |  |  |  | 1,090 |  |  |  |  |  |  |  | 193 |  |  |  |  |
All other |  |  | - |  |  |  |  |  |  |  | 9 |  |  |  |  |  |  |  | - |  |  |  |  |  |  |  | 9 |  |  |  |  |
Consolidated |  | $ | 993 |  |  |  |  |  |  | $ | 904 |  |  |  |  |  |  | $ | 2,708 |  |  |  |  |  |  | $ | 1,905 |  |  |  |  |
Depreciation & Amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Casegoods |  | $ | 490 |  |  |  |  |  |  | $ | 566 |  |  |  |  |  |  | $ | 1,452 |  |  |  |  |  |  | $ | 1,650 |  |  |  |  |
Upholstery |  |  | 538 |  |  |  |  |  |  |  | 253 |  |  |  |  |  |  |  | 929 |  |  |  |  |  |  |  | 718 |  |  |  |  |
Home Meridian |  |  | 673 |  |  |  |  |  |  |  | 770 |  |  |  |  |  |  |  | 2,012 |  |  |  |  |  |  |  | 3,965 |  |  |  |  |
All other |  |  | 1 |  |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  | 6 |  |  |  |  |  |  |  | 7 |  |  |  |  |
Consolidated |  | $ | 1,702 |  |  |  |  |  |  | $ | 1,592 |  |  |  |  |  |  | $ | 4,399 |  |  |  |  |  |  | $ | 6,340 |  |  |  |  |
|  | As of October 29, 2017 |  |  | %Total |  |  | As of January 29, 2017 |  |  | %Total |
Assets |  |  |  |  | Assets |  |  |  |  |  | Assets |
Hooker Casegoods |  | $ | 125,232 |  |  |  | 47.5 | % |  | $ | 130,917 |  |  |  | 48.6 | %
Upholstery |  |  | 42,636 |  |  |  | 16.2 | % |  |  | 31,018 |  |  |  | 11.5 | %
Home Meridian |  |  | 95,483 |  |  |  | 36.2 | % |  |  | 107,101 |  |  |  | 39.7 | %
All other |  |  | 509 |  |  |  | 0.2 | % |  |  | 554 |  |  |  | 0.2 | %
Intercompany eliminations |  |  | - |  |  |  | 0.0 | % |  |  | (4 | ) |  |  | 0.0 | %
Consolidated assets |  | $ | 263,860 |  |  |  | 100.0 | % |  | $ | 269,586 |  |  |  | 100 | %
Consolidated goodwill and intangibles |  |  | 78,657 |  |  |  |  |  |  |  | 49,110 |  |  |  |  |
Total consolidated assets |  | $ | 342,517 |  |  |  |  |  |  | $ | 318,696 |  |  |  |  |
Sales by product type are as follows:
|  | Net Sales (in thousands) |
|  | Thirteen Weeks Ended |  |  | Thirty-Nine Weeks Ended |
|  | October 29, |  |  |  |  |  | October 30, |  |  |  |  |  | October 29, |  |  |  |  |  | October 30, |  |  |  |
|  | 2017 |  |  | %Total |  |  | 2016 |  |  | %Total |  |  | 2017 |  |  | %Total |  |  | 2016 |  |  | %Total |
Casegoods |  | $ | 115,106 |  |  |  | 73 | % |  | $ | 107,994 |  |  |  | 74 | % |  | $ | 316,639 |  |  |  | 71 | % |  | $ | 286,039 |  |  |  | 71 | %
Upholstery |  |  | 42,828 |  |  |  | 27 | % |  |  | 37,304 |  |  |  | 26 | % |  |  | 128,475 |  |  |  | 29 | % |  |  | 117,253 |  |  |  | 29 | %
|  | $ | 157,934 |  |  |  | 100 | % |  | $ | 145,298 |  |  |  | 100 | % |  | $ | 445,114 |  |  |  | 100 | % |  | $ | 403,292 |  |  |  | 100 | %

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- References No definition available. + Details
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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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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