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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Oct. 31, 2010	Dec. 06, 2010
Document and Entity Information [Abstract]
Entity Registrant Name	HOOKER FURNITURE CORPORATION
Entity Central Index Key	0001077688
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--01-30
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		10,782,068
Document Type	10-Q
Document Period End Date	Oct. 31, 2010
Amendment Flag	false
Document Fiscal Year Focus	2011
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2010	Jan. 31, 2010
Current Assets
Cash and cash equivalents	$ 20,460	$ 37,995
Accounts receivable, less allowance for doubtful accounts of $2,004 and $1,938 on each date	28,409	25,894
Inventories	55,622	36,176
Prepaid expenses and other current assets	5,457	3,468
Total current assets	109,948	103,533
Property, plant, and equipment, net	21,173	22,747
Intangible assets	3,468	3,468
Cash surrender value of life insurance policies	14,560	14,810
Other assets	4,691	4,541
Total assets	153,840	149,099
Current Liabilities
Trade accounts payable	14,264	10,425
Accrued salaries, wages and benefits	2,427	2,184
Other accrued expenses	1,662	1,953
Accrued dividends	1,077	1,077
Total current liabilities	19,430	15,639
Deferred compensation	6,682	5,868
Total liabilities	26,112	21,507
Shareholders' equity
Common stock, no par value, 20,000 shares authorized, 10,782 and 10,775 shares issued and outstanding on each date, respectively.	17,134	17,076
Retained earnings	110,261	110,073
Accumulated other comprehensive income	333	443
Total shareholders' equity	127,728	127,592
Total liabilities and shareholders' equity	$ 153,840	$ 149,099

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Oct. 31, 2010	Jan. 31, 2010
CONDENSED CONSOLIDATED BALANCE SHEETS
Allowance for doubtful accounts receivable (in dollars)	$ 2,004	$ 1,938
Common stock, no par value (in dollars per share)
Common stock, shares authorized	20,000	20,000
Common stock, shares issued	10,782	10,775
Common stock, shares outstanding	10,782	10,775

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2010	Nov. 01, 2009	Oct. 31, 2010	Nov. 01, 2009
Statement [Line Items]
Net sales	$ 55,735	$ 52,605	$ 160,465	$ 150,646
Cost of sales	43,460	39,928	123,965	117,047
Casualty loss			2,208
Insurance recovery			(1,708)
Total cost of sales	43,460	39,928	124,465	117,047
Gross profit	12,275	12,677	36,000	33,599
Selling and administrative expenses	10,610	10,894	31,060	32,329
Asset impairment charge				613
Operating income	1,665	1,783	4,940	657
Other income (expense), net	27	(93)	83	(122)
Income before income taxes	1,692	1,690	5,023	535
Income tax expense	522	733	1,601	497
Net income	$ 1,170	$ 957	$ 3,422	$ 38
Earnings per share
Basic (in dollars per share)	$ 0.11	$ 0.09	$ 0.32	$ 0
Diluted (in dollars per share)	$ 0.11	$ 0.09	$ 0.32	$ 0
Weighted average shares outstanding:
Basic (in shares)	10,757	10,752	10,757	10,752
Diluted (in shares)	10,768	10,764	10,768	10,762
Cash dividends declared per share (in dollars per share)	$ 0.10	$ 0.10	$ 0.30	$ 0.30

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2010	Nov. 01, 2009
Cash flows from operating activities
Cash received from customers	$ 156,389	$ 154,522
Cash paid to suppliers and employees	(168,370)	(119,671)
Insurance proceeds received on casualty loss	1,708
Income taxes paid, net	(3,087)	(1,728)
Interest paid, net	(60)	(262)
Net cash (used in) provided by operating activities	(13,420)	32,861
Cash flows from investing activities
Purchase of property, plant, and equipment	(688)	(1,264)
Proceeds from the sale of property and equipment	2	10
Proceeds received on notes issued for the sale of property and equipment	23	23
Premiums paid on officers' life insurance	(1,321)	(1,352)
Proceeds received on officers' life insurance	1,102	986
Net cash used in investing activities	(882)	(1,597)
Cash flows from financing activities
Proceeds from short-term borrowing		4,493
Payments on short-term borrowing		(4,382)
Cash dividends paid	(3,233)	(3,231)
Payments on long-term debt		(5,218)
Net cash used in financing activities	(3,233)	(8,338)
Net (decrease) increase in cash and cash equivalents	(17,535)	22,926
Cash and cash equivalents at the beginning of the period	37,995	11,804
Cash and cash equivalents at the end of the period	20,460	34,730
Reconciliation of net income to net cash provided by operating activities:
Net income (loss)	3,422	38
Depreciation and amortization	2,254	2,377
Non-cash restricted stock awards and performance grants	58	61
Restructuring and asset impairment charges		613
Provision for doubtful accounts	395	850
Deferred income taxes	(745)	(107)
Loss on disposal of property	9	115
Changes in assets and liabilities:
Accounts receivable	(2,911)	3,163
Inventories	(19,447)	26,703
Prepaid expenses and other current assets	(949)	(1,439)
Trade accounts payable	3,839	(276)
Accrued salaries, wages, and benefits	243	629
Accrued income taxes	(253)
Other accrued expenses	(38)	(644)
Deferred compensation	703	577
Other long-term liabilities		201
Net cash (used in) provided by operating activities	$ (13,420)	$ 32,861

Preparation of Interim Financial Statements

9 Months Ended

Oct. 31, 2010

Organization, Consolidation and Presentation of Financial Statements Disclosure [Abstract]

Preparation of Interim Financial Statements

1.	Preparation of Interim Financial Statements

The condensed consolidated financial statements of Hooker Furniture Corporation and subsidiaries (referred to as “we,” “us,” “our,” “Hooker” or the “Company”) have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, these statements include all adjustments necessary for a fair statement of the results of all interim periods reported herein. All such adjustments are of a normal recurring nature. Certain information and footnote disclosures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) are condensed or omitted pursuant to SEC rules and regulations. However, we believe that the disclosures made are adequate for a fair presentation of our results of operations and financial position. Operating results for the interim periods reported herein may not be indicative of the results expected for the year. These financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our annual report on Form 10-K for the fiscal year ended January 31, 2010.

The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect both the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from our estimates.

The financial statements contained herein are being filed as part of a quarterly report on Form 10-Q covering the thirteen-week period (also referred to as “three months,” “three-month period,” “quarter” or “quarterly period”) that began August 2, 2010 and the thirty-nine week period (also referred to as “nine months,” “nine-month period,” or “first nine months”) that began on February 1, 2010, both ended on October 31, 2010. These financial statements also include the thirteen-week period that began August 3, 2009 and the thirty-nine week period that began February 2, 2009, both ended on November 1, 2009.

References in these notes to the condensed consolidated financial statements of the Company to:

§	the 2011 fiscal year and comparable terminology mean the fiscal year that began February 1, 2010 and will end January 30, 2011; and

§	the 2010 fiscal year and comparable terminology mean the fiscal year that began February 2, 2009 and ended January 31, 2010.

Inventories

9 Months Ended

Oct. 31, 2010

Inventory Disclosure [Abstract]

Inventories

2.	Inventories

	October 31,		January 31,
	2010		2010

Finished furniture	$	58,533	$	40,205
Furniture in process		743		798
Materials and supplies		10,530		7,258
Inventories at FIFO		69,806		48,261
Reduction to LIFO basis		14,184		12,085
Inventories	$	55,622	$	36,176

Property, Plant and Equipment

9 Months Ended

Oct. 31, 2010

Property, Plant and Equipment Disclosure [Abstract]

Property, Plant and Equipment

3.	Property, Plant and Equipment

	October 31,		January 31,
	2010		2010
Buildings and land improvements	$	23,996	$	23,708
Machinery and equipment		3,501		3,507
Furniture and fixtures		27,774		27,494
Other		4,138		4,043
Total depreciable property at cost		59,409		58,752
Less accumulated depreciation		39,800		37,603
Total depreciable property, net		19,609		21,149
Land		1,357		1,357
Construction in progress		207		241
Property, plant and equipment, net	$	21,173	$	22,747

Intangible Assets

9 Months Ended

Oct. 31, 2010

Intangible Assets Disclosure [Abstract]

Intangible Assets

4.	Intangible Assets

	October 31,		January 31,
	2010		2010
Non-amortizable Intangible Assets
Trademarks and trade names - Bradington-Young	$	2,676	$	2,676
Trademarks and trade names - Sam Moore		396		396
Trademarks and trade names - Opus Designs		396		396
Total trademarks and tradenames	$	3,468	$	3,468

Accounts Receivable

9 Months Ended

Oct. 31, 2010

Schedule of Accounts, Notes, Loans and Financing Receivable [Abstract]

Accounts Receivable

5.	Accounts Receivable

	October 31,			January 31,
	2010			2010

Trade accounts receivable	$	23,476		$	19,400
Receivable from factor		6,937			8,432
Allowance for doubtful accounts		(2,004	)		(1,938	)
Accounts receivable	$	28,409		$	25,894

“Receivable from factor” represents amounts due with respect to factored accounts receivable. We factor substantially all of our domestic upholstery accounts receivable, without recourse to us.

Under our factoring agreement, invoices for domestic upholstery products are generated and transmitted to our customers, with copies to the factor on a daily basis, as products are shipped to our customers. The factor collects the amounts due and remits collected funds, less factoring fees, to us semi-weekly. We retain ownership of the accounts receivable until the invoices are 90 days past due. At that time, the factor pays us the net invoice amount, less factoring fees and takes ownership of the accounts receivable. The factor is then entitled to collect the invoices on its own behalf and retain any subsequent remittances. The invoiced amounts are reported as accounts receivable on our condensed consolidated balance sheets when the merchandise is delivered to our customer until payment is received from the factor.

A limited number of domestic upholstery accounts receivable are factored with recourse to us. The amounts of these receivables at October 31, 2010 and January 31, 2010 were $93,000 and $205,000, respectively. If the factor is unable to collect the amounts due, invoices are returned to us for collection. We include an estimate of potentially uncollectible amounts for these receivables in our calculation of our allowance for doubtful accounts.

Other Comprehensive Income (Loss)

9 Months Ended

Oct. 31, 2010

Comprehensive Income Note [Abstract]

Other Comprehensive Income (Loss)

6.	Other Comprehensive Income (Loss)

	Thirteen Weeks Ended						Thirty-Nine Weeks Ended
	October 31,			November 1,			October 31,			November 1,
	2010			2009			2010			2009
Net income	$	1,170		$	957		$	3,422		$	38
Loss on interest rate swap		-			-			-			(26	)
Portion of swap agreement's fair value
reclassified to interest expense		-			-			-			118
Reclassification to income of cumulative
balance related to ineffective swap		-			76						76
Reclassification to income of unamortized
balance of swap termination payment		-			61						61
Unrealized gain on interest rate swap		-			137			-			229
Portion of accumulated actuarial gain on Supplemental
Retirement Income Plan reclassified to deferred
compensation expense		(59	)		(55	)		(178	)		(164	)
Other comprehensive income (loss) before tax		(59	)		82			(178	)		65
Income tax benefit (expense)		22			(31	)		67			(25	)
Other comprehensive income (loss), net of tax		(37	)		51			(111	)		40
Comprehensive net income	$	1,133		$	1,008		$	3,311		$	78

Supplier Receivable

9 Months Ended

Oct. 31, 2010

Supplier Receivable [Abstract]

Supplier Receivable

7.	Supplier Receivable

From May 2007 through September 2009, we advanced payments to, and provided financing guarantees for one of our finished goods suppliers to facilitate the supplier’s purchase of raw materials and supplies to ensure timely delivery of finished goods to us. The balance of the advances and other miscellaneous amounts due from this supplier at October 31, 2010 and January 31, 2010 were $143,000 and $124,000, respectively, and are fully reserved. In order for the supplier to obtain additional bank financing, we issued a standby letter of credit on July 14, 2008 as security in the amount of $600,000. In conjunction with the issuance of the letter of credit, we entered into a security agreement with the supplier and the supplier’s shareholders, which provided us with a security interest in certain assets of the supplier and its shareholders. During September 2009, prior to the expiration of the letter of credit, the supplier ceased operations, and defaulted on its bank notes, and its lender drew on our $600,000 letter of credit. Subsequently, we reimbursed our letter of credit provider for the $600,000. During fiscal year 2010, we wrote down the book value of the pledged collateral to our estimate of its net realizable value of $300,000. The estimated net realizable value for the pledged collateral of $300,000 at October 31, 2010 and January 31, 2010 is recorded in the long-term section of our condensed consolidated balance sheets in “Other assets.” Based on a recent appraisal, we continue to believe that the net realizable value of $300,000 is reasonable and approximates the pledged collateral’s fair value. We unsuccessfully attempted to obtain title to the pledged collateral from the supplier’s shareholders in lieu of foreclosure. Subsequent to the end of our fiscal 2011 third quarter, we initiated foreclosure proceedings.

Earnings Per Share

9 Months Ended

Oct. 31, 2010

Earnings Per Share [Abstract]

Earnings Per Share

8.	Earnings Per Share

Since 2006, we have issued restricted stock awards to non-employee members of the board of directors under the Company’s stock incentive plan each January, and expect to continue to grant these awards to non-employee board members in the future following each annual meeting of the shareholders. As of October 31, 2010 and January 31, 2010 there were 24,965 and 17,640 shares, respectively, of restricted stock outstanding, net of forfeitures and vested shares. Restricted shares awarded, but that have not yet vested, are considered when computing diluted earnings per share.

The following table sets forth the computation of basic and diluted earnings per share:

	Thirteen Weeks Ended				Thirty-nine Weeks Ended
	October 31,		November 1,		October 31,		November 1,
	2010		2009		2010		2009

Net income	$	1,170	$	957	$	3,422	$	38
Less: Unvested participating restricted stock dividends		3		2		4		6
Net earnings allocated to unvested participating
restricted stock		-		2		-		-
Earnings available for common shareholders		1,167		953		3,418		32

Weighted average shares outstanding for basic
earnings per share		10,757		10,752		10,757		10,752
Dilutive effect of non-vested restricted stock awards		11		12		11		10
Weighted average shares outstanding for diluted
earnings per share		10,768		10,764		10,768		10,762

Basic earnings per share	$	0.11	$	0.09	$	0.32	$	0.00

Diluted earnings per share	$	0.11	$	0.09	$	0.32	$	0.00

Long Term Debt and Interest Rate Swaps

9 Months Ended

Oct. 31, 2010

Long Term Debt and Interest Rate Swaps [Abstract]

Long Term Debt and Interest Rate Swaps

9.	Long Term Debt and Interest Rate Swaps

As of October 31, 2010, we had an aggregate $13.1 million available under our $15.0 million revolving credit facility to fund working capital needs. Standby letters of credit in the aggregate amount of $1.9 million, used to collateralize certain insurance arrangements and for imported product purchases, were outstanding under our revolving credit facility as of October 31, 2010. There were no additional borrowings outstanding under the revolving credit line on October 31, 2010. Any principal outstanding under the credit line is due March 1, 2011. Additionally, we had $14.6 million available to borrow against the cash surrender value of company-owned life insurance policies at October 31, 2010, with no loans outstanding.

From time to time we have entered into swap agreements to hedge against the potential impact of increases in interest rates on our floating-rate debt instruments. Swap agreements that hedge exposures to changes in interest rates expose us to credit risk and market risk. Credit risk is the potential failure of the counterparty to perform under the terms of the swap agreement. We attempt to manage this risk by entering into transactions with high-quality counterparties. Market risk is the potential adverse effect on the value of the swap agreement that results from a decline in interest rates. The market risk associated with interest-rate contracts is managed by establishing and monitoring parameters that limit the types and degree of market risk that may be undertaken.

Prior to September 1, 2010, we were party to an interest rate swap agreement that provided, in effect, a fixed interest rate of 4.1% on our term loans. Prior to our fiscal 2010 third quarter, we accounted for our interest rate swap agreement as a cash flow hedge and recognized the fair value of the agreement on the balance sheet in shareholders’ equity under the caption “accumulated other comprehensive income.” The related gains or losses on this instrument were recorded through comprehensive income and, accordingly, were included in accumulated other comprehensive income on the balance sheet until recognized in net income. The gains or losses on this transaction were recognized in net income in the periods in which interest expense on our term loans (the related hedged item) were recognized in net income. In August 2009, we repaid our term loans in full. As a result, our interest rate swap no longer qualified as an effective hedge after that date. Through the remainder of the term of the interest rate swap, which terminated during our fiscal 2011 third quarter on September 1, 2010, all changes in the swap’s fair value were charged against net income except for scheduled payments under the agreement.

Fair Value Disclosure of Derivative Instruments

The following table provides quantitative fair value disclosures regarding our interest rate swap at October 31, 2010 and January 31, 2010:

				Fair Value at Dates Indicated
				Quoted Prices in	Significant
	Carrying Value and			Active Markets	Other			Significant
	Balance Sheet Location			for Identical	Observable			Unobservable
	(Other Accrued			Instruments	Inputs			Inputs
	Expenses)			(Level 1)	(Level 2)			(Level 3)

Interest rate swap at October 31, 2010	$	-			$	-
Interest rate swap at January 31, 2010		(33	)			(33	)

	Thirteen Weeks Ended					Thirty-Nine Weeks Ended
	October 31,		November 1,			October 31,		November 1,
	2010		2009			2010		2009
Interest rate swap:
Loss recognized in other comprehensive income	$	-	$	-		$	-	$	(26	)
Loss reclassified from accumulated other comprehensive
income into interest expense, net		-		-			-		118
Loss recognized in net income		-		(130	)		-		(130	)
Loss recognized in net income on change
in fair value of derivative financial instrument		-		(22	)		-		(22	)

Employee Benefit Plans

9 Months Ended

Oct. 31, 2010

Pension and Other Postretirement Benefits Disclosure [Abstract]

Employee Benefit Plans

10.	Employee Benefit Plans

We maintain a supplemental retirement income plan (“SRIP”) for certain former and current executives. The liability for the SRIP at October 31, 2010 and January 31, 2010 was $7.2 million and $6.3 million, respectively, and is shown in our consolidated balance sheets as follows:

	October 31,		January 31,
	2010		2010

Accrued salaries, wages and benefits (current portion)	$	514	$	436
Deferred compensation (long-term portion)		6,682		5,868
Total liability	$	7,196	$	6,304

Components of net periodic benefit cost for the SRIP are as follows:

	Thirteen Weeks Ended						Thirty-Nine Weeks Ended
	October 31,			November 1,			October 31,			November 1,
	2010			2009			2010			2009
Net periodic benefit cost
Service cost	$	146		$	158		$	437		$	474
Interest cost		85			89			255			267
Actuarial gain		(59	)		(54	)		(177	)		(162	)
Net periodic benefit cost	$	172		$	193		$	516		$	579

Income Taxes

9 Months Ended

Oct. 31, 2010

Income Tax Disclosure [Abstract]

Income Taxes

11.	Income Taxes

We recorded income tax expense of $522,000 for the fiscal 2011 third quarter compared to $733,000 for prior year quarterly period. Lower income tax expense was the result of a lower effective tax rate. The effective tax rate decreased to 30.8% for the fiscal year 2011 third quarter from 43.4% for the prior year quarterly period. The effective rate in the fiscal 2010 third quarter was higher than our typical effective tax rate due to the accrual of a federal income tax penalty and the establishment of a valuation allowance against certain state loss carry forwards. In the fiscal 2011 third quarter, the impact of permanent differences resulted in an effective rate lower than the 35% Federal income tax rate.

We recorded income tax expense of $1.6 million during the first nine months of fiscal 2011, compared to $497,000 for the comparable 2010 period, due primarily to higher pre-tax income. Our effective tax rate fell to 31.9% from 92.9%. The effective rate in the fiscal 2010 nine-month period was higher than our typical effective tax rate due to the accrual of a federal income tax penalty and the establishment of a valuation allowance against certain state loss carry forwards. In the fiscal 2011 nine-month period, the impact of permanent differences resulted in an effective rate lower than the 35% Federal income tax rate.

Casualty Loss

9 Months Ended

Oct. 31, 2010

Casualty Loss [Abstract]

Casualty Loss

12.	Casualty Loss

On March 10, 2010, we experienced a fire at one of our warehouse facilities in Martinsville, Va. The fire was contained to an area of approximately 2,000 square feet within a 580,000 square foot facility. The costs associated with the fire in excess of our $500,000 insurance deductible were fully covered by insurance. During the first half of fiscal 2011, we recorded a casualty loss of $2.2 million and an insurance recovery of $1.7 million, both in cost of sales. The net charge to cost of sales of $500,000 represents our insurance deductible. During our fiscal 2011 third quarter, we received the final payment of $358,000 for amounts due to us from our insurance carrier. This amount was recorded in the “Prepaid expenses and other current assets” line of the current assets portion of our condensed consolidated balance sheet at the end of our fiscal 2011 second quarter on August 1, 2010. We consider the claim to be close d.

Subsequent Events

9 Months Ended

Oct. 31, 2010

Schedule of Subsequent Events [Abstract]

Subsequent Events

13.	Subsequent Events

Bradington-Young Division Consolidation

On November 8, 2010, we announced the consolidation of the Cherryville, NC operations and division offices of our Bradington-Young domestic upholstery division from Cherryville to Hickory, NC. The consolidation will result in $1.1 million in impairment charges to write down real and personal property assets to fair value, severance and benefits costs of $312,000 and disassembly and moving costs of $40,000. We expect to complete the consolidation by mid-January 2011.

Dividends

At its December 7, 2010 meeting, our board of directors declared a quarterly cash dividend of $0.10 per share, payable on February 25, 2011 to shareholders of record at February 11, 2011.