Flexsteel Reports 11.4% Decline in 1Q Revenue

Dubuque, Iowa-based furniture supplier Flexsteel Industries Inc. reported an 11.4% decline in first-quarter sales, impacted by the discontinuation of select leather imports that failed to meet the company’s quality standards. Revenue for the quarter, ended Sept. 30, totaled $112 million compared to $127 million a year ago while net income was $4.8 million, or 61 cents […]