HUFFMAN KOOS REPORTS LOSS
HUFFMAN KOOS REPORTS LOSS RIVER EDGE, N.J., June 9 /PRNewswire/ -- Huffman Koos Inc.
(NASDAQ: HUFK), a leading furniture retailer, reported a net loss of $194,000 for its first quarter ended April 30, 1992, or $.05 per share, versus a net profit of $66,000, or $.02 per share, in the prior year. Net sales for the quarter were $19.8 million versus $19.7 million for the first quarter of last year.
Increased promotional costs to stimulate sales volume contributed to the decline in profits. Management is optimistic about achieving budgeted profit levels for the full fiscal year. Huffman Koos is a full service retailer of high quality furniture and accessories which presently operates eight stores in New Jersey, one in Rockland County, N.Y., and one in Carle Place, N.Y. An eleventh store will open in Farmingdale, Long Island, later this summer. -0- 6/9/92 /CONTACT: Joseph Albanese of Huffman Koos, 201-343-4300/ (HUFK) CO: Huffman Koos Inc. ST: New Jersey IN: REA SU: ERN
TQ -- NY028 -- 8314 06/09/92 11:12 EDT
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|Date:||Jun 9, 1992|
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