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Segment Information | 9 Months Ended
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Oct. 31, 2021
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | 14. 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”) 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. We continually monitor our reportable segments for changes in facts and circumstances to determine whether changes in the identification or aggregation of operating segments are necessary. For financial reporting purposes, we are organized into three 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;
| ■ | Domestic Upholstery, which includes the domestic upholstery manufacturing operations of Bradington-Young, Sam Moore and Shenandoah Furniture; and
| ■ | All Other, consisting of H Contract and Lifestyle Brands, a new business started in late fiscal 2019. Neither 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 |  |  | Thirty-Nine Weeks Ended |
|  | Oct 31, |  |  |  |  |  |  | Nov 1, |  |  |  |  |  |  | Oct 31, |  |  |  |  |  |  | Nov 1, |  |  |  |  |
|  | 2021 |  |  |  |  |  |  | 2020 |  |  |  |  |  |  | 2021 |  |  |  |  |  |  | 2020 |  |  |  |  |
|  |  |  |  |  | % Net |  |  |  |  |  |  | % Net |  |  |  |  |  |  | % Net |  |  |  |  |  |  | % Net |
Net Sales |  |  |  |  |  | Sales |  |  |  |  |  |  | Sales |  |  |  |  |  |  | Sales |  |  |  |  |  |  | Sales |
Hooker Branded |  | $ | 56,037 |  |  |  | 42.0 | % |  | $ | 47,287 |  |  |  | 31.6 | % |  | $ | 157,304 |  |  |  | 34.3 | % |  | $ | 113,268 |  |  |  | 29.4 | %
Home Meridian |  |  | 46,230 |  |  |  | 34.6 | % |  |  | 73,727 |  |  |  | 49.3 | % |  |  | 217,964 |  |  |  | 47.5 | % |  |  | 202,560 |  |  |  | 52.6 | %
Domestic Upholstery |  |  | 27,972 |  |  |  | 21.0 | % |  |  | 25,350 |  |  |  | 16.9 | % |  |  | 74,996 |  |  |  | 16.3 | % |  |  | 59,640 |  |  |  | 15.6 | %
All Other |  |  | 3,189 |  |  |  | 2.4 | % |  |  | 3,323 |  |  |  | 2.2 | % |  |  | 8,543 |  |  |  | 1.9 | % |  |  | 9,353 |  |  |  | 2.4 | %
Consolidated |  | $ | 133,428 |  |  |  | 100 | % |  | $ | 149,687 |  |  |  | 100.0 | % |  | $ | 458,807 |  |  |  | 100.0 | % |  | $ | 384,821 |  |  |  | 100.0 | %
Gross Profit/(Loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Branded |  | $ | 15,366 |  |  |  | 27.4 | % |  | $ | 15,446 |  |  |  | 32.7 | % |  | $ | 49,639 |  |  |  | 31.6 | % |  | $ | 35,894 |  |  |  | 31.7 | %
Home Meridian |  |  | (1,807 | ) |  |  | -3.9 | % |  |  | 11,169 |  |  |  | 15.1 | % |  |  | 17,935 |  |  |  | 8.2 | % |  |  | 28,489 |  |  |  | 14.1 | %
Domestic Upholstery |  |  | 5,353 |  |  |  | 19.1 | % |  |  | 5,751 |  |  |  | 22.7 | % |  |  | 14,879 |  |  |  | 19.8 | % |  |  | 11,555 |  |  |  | 19.4 | %
All Other |  |  | 1,095 |  |  |  | 34.3 | % |  |  | 1,117 |  |  |  | 33.6 | % |  |  | 2,853 |  |  |  | 33.4 | % |  |  | 3,199 |  |  |  | 34.2 | %
Consolidated |  | $ | 20,007 |  |  |  | 15.0 | % |  | $ | 33,483 |  |  |  | 22.4 | % |  | $ | 85,306 |  |  |  | 18.6 | % |  | $ | 79,137 |  |  |  | 20.6 | %
Operating (Loss)/Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Branded |  | $ | 6,669 |  |  |  | 11.9 | % |  | $ | 7,686 |  |  |  | 16.3 | % |  | $ | 25,040 |  |  |  | 15.9 | % |  | $ | 15,108 |  |  |  | 13.3 | %
Home Meridian |  |  | (10,181 | ) |  |  | -22.0 | % |  |  | 2,510 |  |  |  | 3.4 | % |  |  | (9,274 | ) |  |  | -4.3 | % |  |  | (26,754 | ) |  |  | -13.2 | %
Domestic Upholstery |  |  | 1,443 |  |  |  | 5.2 | % |  |  | 2,421 |  |  |  | 9.6 | % |  |  | 3,589 |  |  |  | 4.8 | % |  |  | (14,399 | ) |  |  | -24.1 | %
All Other |  |  | 341 |  |  |  | 10.7 | % |  |  | 420 |  |  |  | 12.6 | % |  |  | 820 |  |  |  | 9.6 | % |  |  | 1,156 |  |  |  | 12.4 | %
Consolidated |  | $ | (1,728 | ) |  |  | -1.3 | % |  | $ | 13,037 |  |  |  | 8.7 | % |  | $ | 20,175 |  |  |  | 4.4 | % |  | $ | (24,889 | ) |  |  | -6.5 | %
Capital Expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Branded |  | $ | 306 |  |  |  |  |  |  | $ | 60 |  |  |  |  |  |  | $ | 427 |  |  |  |  |  |  | $ | 173 |  |  |  |  |
Home Meridian |  |  | 2,501 |  |  |  |  |  |  |  | 27 |  |  |  |  |  |  |  | 4,956 |  |  |  |  |  |  |  | 137 |  |  |  |  |
Domestic Upholstery |  |  | 344 |  |  |  |  |  |  |  | 82 |  |  |  |  |  |  |  | 1,233 |  |  |  |  |  |  |  | 332 |  |  |  |  |
All Other |  |  | 10 |  |  |  |  |  |  |  | - |  |  |  |  |  |  |  | 10 |  |  |  |  |  |  |  | - |  |  |  |  |
Consolidated |  | $ | 3,161 |  |  |  |  |  |  | $ | 169 |  |  |  |  |  |  | $ | 6,626 |  |  |  |  |  |  | $ | 642 |  |  |  |  |
Depreciation & Amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Hooker Branded |  | $ | 645 |  |  |  |  |  |  | $ | 444 |  |  |  |  |  |  | $ | 1,844 |  |  |  |  |  |  | $ | 1,338 |  |  |  |  |
Home Meridian |  |  | 710 |  |  |  |  |  |  |  | 540 |  |  |  |  |  |  |  | 1,779 |  |  |  |  |  |  |  | 1,608 |  |  |  |  |
Domestic Upholstery |  |  | 682 |  |  |  |  |  |  |  | 700 |  |  |  |  |  |  |  | 1,991 |  |  |  |  |  |  |  | 2,097 |  |  |  |  |
All Other |  |  | 3 |  |  |  |  |  |  |  | 3 |  |  |  |  |  |  |  | 9 |  |  |  |  |  |  |  | 9 |  |  |  |  |
Consolidated |  | $ | 2,040 |  |  |  |  |  |  | $ | 1,687 |  |  |  |  |  |  | $ | 5,623 |  |  |  |  |  |  | $ | 5,052 |  |  |  |  |
|  | As of October 31, |  |  |  |  |  |  | As of January 31, |  |  |  |  |  |
|  | 2021 |  |  | %Total |  |  | 2021 |  |  | %Total |  |
Identifiable Assets |  |  |  |  |  | Assets |  |  |  |  |  |  | Assets |  |
Hooker Branded |  | $ | 164,358 |  |  |  | 48.0 | % |  | $ | 174,475 |  |  |  | 53.5 | % |
Home Meridian |  |  | 123,991 |  |  |  | 36.2 | % |  |  | 100,497 |  |  |  | 30.9 | % |
Domestic Upholstery |  |  | 53,431 |  |  |  | 15.6 | % |  |  | 49,370 |  |  |  | 15.2 | % |
All Other |  |  | 666 |  |  |  | 0.2 | % |  |  | 1,204 |  |  |  | 0.4 | % |
Consolidated |  | $ | 342,446 |  |  |  | 100 | % |  | $ | 325,546 |  |  |  | 100 | % |
Consolidated Goodwill and Intangibles |  |  | 24,939 |  |  |  |  |  |  |  | 26,727 |  |  |  |  |  |
Total Consolidated Assets |  | $ | 367,385 |  |  |  |  |  |  | $ | 352,273 |  |  |  |  |  |
Sales by product type are as follows:
|  | Net Sales (in thousands) |
|  | Thirteen Weeks Ended |  |  | Thirty-Nine Weeks Ended |
|  | October 31, 2021 |  |  | %Total |  |  | November 1, 2020 |  |  | %Total |  |  | October 31, 2021 |  |  | %Total |  |  | November 1, 2020 |  |  | %Total |
Casegoods |  | $ | 75,982 |  |  |  | 57 | % |  | $ | 91,457 |  |  |  | 61 | % |  | $ | 271,421 |  |  |  | 59 | % |  | $ | 234,905 |  |  |  | 61 | %
Upholstery |  |  | 57,446 |  |  |  | 43 | % |  |  | 58,230 |  |  |  | 39 | % |  |  | 187,386 |  |  |  | 41 | % |  |  | 149,916 |  |  |  | 39 | %
|  | $ | 133,428 |  |  |  | 100 | % |  | $ | 149,687 |  |  |  | 100 | % |  | $ | 458,807 |  |  |  | 100 | % |  | $ | 384,821 |  |  |  | 100 | %

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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