Roanoke Times
Copyright (c) 1995, Landmark Communications, Inc.
DATE: FRIDAY, June 16, 1995 TAG: 9506160039
SECTION: BUSINESS PAGE: A-9 EDITION: METRO
SOURCE: STAFF REPORT
DATELINE: LENGTH: Short
Most of the corporation's factories are operating at reduced schedules. If the trend continues, the corporation anticipates an operating loss for its third quarter, ending in July.
President and Chief Executive Officer John Wampler said historically the spring and early summer months are the worst periods for his company. "It's a very limited quarter," he said.
Wampler described Thursday's warning to shareholders as "not a huge deal. We just don't want to surprise people."
Most of the company's 12 plants have been operating on four-day-a-week schedules rather than the usual five-day week for more than a month, with three plants producing furniture every other week "That's the most extreme," Wampler said.
Pulaski was pleased with the results of the spring wholesale furniture market held in April at High Point, N.C. The wholesale market is where retailers order furniture they expect to sell in coming months.
The products that were introduced were well-received and should help Pulaski's fall business, the company said.
Wampler said orders already on the books should improve business in the fourth quarter. "We feel pretty good about the fall," he said.
by CNB