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NOTE 13 - Segment Information | 6 Months Ended
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Aug. 04, 2019
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] |
13. | Segment Information
For financial reporting purposes, we are organized into two reportable segments and “All Other”, which includes the remainder of our businesses:
| ■ | Hooker Branded, consisting of the operations of our imported Hooker Casegoods and Hooker Upholstery businesses;
| ■ | 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 the domestic upholstery manufacturing operations of Bradington-Young, Sam Moore, Shenandoah Furniture and H Contract. None of these operating segments were individually reportable; therefore, we combined them in “All Other” in accordance with ASC 280.
The following table presents segment information for the periods, and as of the dates, indicated:
|  | Thirteen Weeks Ended |  |  | Twenty-Six Weeks Ended |
|  | August 4, 2019 |  |  |  |  |  |  | July 29, 2018 |  |  |  |  |  |  | August 4, 2019 |  |  |  |  |  |  | July 29, 2018 |  |  |  |  |
|  |  |  |  |  | % Net |  |  |  |  |  |  | % Net |  |  |  |  |  |  | % Net |  |  |  |  |  |  | % Net |
Net Sales |  |  |  |  |  | Sales |  |  |  |  |  |  | Sales |  |  |  |  |  |  | Sales |  |  |  |  |  |  | Sales |
Hooker Branded |  | $ | 39,405 |  |  |  | 25.9 | % |  | $ | 40,551 |  |  |  | 24.0 | % |  | $ | 79,004 |  |  |  | 27.5 | % |  | $ | 83,322 |  |  |  | 26.7 | %
Home Meridian |  |  | 87,188 |  |  |  | 57.3 | % |  |  | 101,022 |  |  |  | 59.9 | % |  |  | 154,818 |  |  |  | 53.8 | % |  |  | 171,618 |  |  |  | 55.1 | %
All Other |  |  | 25,655 |  |  |  | 16.8 | % |  |  | 27,088 |  |  |  | 16.1 | % |  |  | 53,944 |  |  |  | 18.7 | % |  |  | 56,613 |  |  |  | 18.2 | %
Consolidated |  | $ | 152,248 |  |  |  | 100.0 | % |  | $ | 168,661 |  |  |  | 100.0 | % |  | $ | 287,766 |  |  |  | 100.0 | % |  | $ | 311,553 |  |  |  | 100.0 | %
Gross Profit |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Branded |  | $ | 11,820 |  |  |  | 30.0 | % |  | $ | 12,616 |  |  |  | 31.1 | % |  | $ | 24,376 |  |  |  | 30.9 | % |  | $ | 27,038 |  |  |  | 32.5 | %
Home Meridian |  |  | 10,951 |  |  |  | 12.6 | % |  |  | 17,398 |  |  |  | 17.2 | % |  |  | 16,854 |  |  |  | 10.9 | % |  |  | 27,814 |  |  |  | 16.2 | %
All Other |  |  | 6,055 |  |  |  | 23.6 | % |  |  | 5,631 |  |  |  | 20.8 | % |  |  | 13,113 |  |  |  | 24.3 | % |  |  | 12,759 |  |  |  | 22.5 | %
Consolidated |  | $ | 28,826 |  |  |  | 18.9 | % |  | $ | 35,645 |  |  |  | 21.1 | % |  | $ | 54,343 |  |  |  | 18.9 | % |  | $ | 67,611 |  |  |  | 21.7 | %
Operating Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Branded |  | $ | 4,088 |  |  |  | 10.4 | % |  | $ | 4,943 |  |  |  | 12.2 | % |  | $ | 9,265 |  |  |  | 11.7 | % |  | $ | 11,669 |  |  |  | 14.0 | %
Home Meridian |  |  | (66 | ) |  |  | -0.1 | % |  |  | 5,628 |  |  |  | 5.6 | % |  |  | (5,059 | ) |  |  | -3.3 | % |  |  | 5,339 |  |  |  | 3.1 | %
All Other |  |  | 1,746 |  |  |  | 6.8 | % |  |  | 1,294 |  |  |  | 4.8 | % |  |  | 4,467 |  |  |  | 8.3 | % |  |  | 4,240 |  |  |  | 7.5 | %
Consolidated |  | $ | 5,768 |  |  |  | 3.8 | % |  | $ | 11,865 |  |  |  | 7.0 | % |  | $ | 8,673 |  |  |  | 3.0 | % |  | $ | 21,248 |  |  |  | 6.8 | %
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Branded |  | $ | 386 |  |  |  |  |  |  | $ | 168 |  |  |  |  |  |  | $ | 511 |  |  |  |  |  |  | $ | 378 |  |  |  |  |
Home Meridian |  |  | 57 |  |  |  |  |  |  |  | 122 |  |  |  |  |  |  |  | 173 |  |  |  |  |  |  |  | 158 |  |  |  |  |
All Other |  |  | 1,690 |  |  |  |  |  |  |  | 173 |  |  |  |  |  |  |  | 2,975 |  |  |  |  |  |  |  | 297 |  |  |  |  |
Consolidated |  | $ | 2,133 |  |  |  |  |  |  | $ | 463 |  |  |  |  |  |  | $ | 3,659 |  |  |  |  |  |  | $ | 833 |  |  |  |  |
Depreciation & Amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Branded |  | $ | 490 |  |  |  |  |  |  | $ | 496 |  |  |  |  |  |  | $ | 982 |  |  |  |  |  |  | $ | 980 |  |  |  |  |
Home Meridian |  |  | 547 |  |  |  |  |  |  |  | 601 |  |  |  |  |  |  |  | 1,078 |  |  |  |  |  |  |  | 1,192 |  |  |  |  |
All Other |  |  | 718 |  |  |  |  |  |  |  | 764 |  |  |  |  |  |  |  | 1,411 |  |  |  |  |  |  |  | 1,517 |  |  |  |  |
Consolidated |  | $ | 1,755 |  |  |  |  |  |  | $ | 1,861 |  |  |  |  |  |  | $ | 3,471 |  |  |  |  |  |  | $ | 3,689 |  |  |  |  |
|  | As of August 4, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | As of February 3, |  |  |  |  |
|  | 2019 |  |  | %Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2019 |  |  | %Total |
Identifiable Assets |  |  |  |  |  | Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Assets |
Hooker Branded |  | $ | 137,566 |  |  |  | 42.2 | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 108,445 |  |  |  | 36.9 | %
Home Meridian |  |  | 148,692 |  |  |  | 45.6 | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 144,277 |  |  |  | 49.1 | %
All Other |  |  | 39,731 |  |  |  | 12.2 | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 41,181 |  |  |  | 14.0 | %
Consolidated |  | $ | 325,989 |  |  |  | 100.0 | % |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 293,903 |  |  |  | 100.0 | %
Consolidated Goodwill and Intangibles |  |  | 74,621 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 75,813 |  |  |  |  |
Total Consolidated Assets |  | $ | 400,610 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 369,716 |  |  |  |  |
Sales by product type are as follows:
|  | Net Sales (in thousands) |
|  | Thirteen Weeks Ended |  |  | Twenty-Six Weeks Ended |
|  | August 4, 2019 |  |  | %Total |  |  | July 29, 2018 |  |  | %Total |  |  | August 4, 2019 |  |  | %Total |  |  | July 29, 2018 |  |  | %Total |
Casegoods |  | $ | 98,488 |  |  |  | 65 | % |  | $ | 105,703 |  |  |  | 63 | % |  | $ | 182,954 |  |  |  | 64 | % |  | $ | 195,759 |  |  |  | 63 | %
Upholstery |  |  | 53,760 |  |  |  | 35 | % |  |  | 62,958 |  |  |  | 37 | % |  |  | 104,812 |  |  |  | 36 | % |  |  | 115,794 |  |  |  | 37 | %
|  | $ | 152,248 |  |  |  | 100 | % |  | $ | 168,661 |  |  |  | 100 | % |  | $ | 287,766 |  |  |  | 100 | % |  | $ | 311,553 |  |  |  | 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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