Flexsteel Industries: Hits over two-week high as sales rise

Flexsteel Industries

27/10/2020 17:51

** Home furnishing company's shares  FLXS.O  up 16.1% at
$30.26, its highest in over two weeks
    ** Co says net sales rose 4.9% to $105.2 mln in Q1, driven
by a jump in home furnishing products sold through retail stores
 urn:newsml:reuters.com:*:nBw2HRgw2a
    ** Flexsteel's adj. profit came in at $0.80/shr vs a
break-even in the year-ago quarter
    ** Reports backlog of $89 million, driven by year-over-year
order growth of 60% in retail home furnishings
    ** Expects to receive a record number of inbound shipments
in Q2 to meet continued strong demand
    ** Stock up ~50% YTD

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com;
twitter.com/Arundhati_05; +1 646 223 8780 Ext: 2776))