Flexsteel Reports 3.2% Sales Growth and Expanding Order Backlog in Q1 Fiscal 2027
Flexsteel (FLXS) reported a 3.2% increase in net sales to $114.0 million for its first quarter of fiscal year 2027, marking its 12th consecutive quarter of year-over-year top-line growth. Despite broader macroeconomic headwinds in the home furnishings sector, such as low consumer confidence and constrained housing turnover, the company saw its unfilled customer order backlog grow by 8.2% to $77.7 million. To combat rising costs from ocean freight and raw materials, management is implementing operational efficiencies at its Juárez manufacturing facility and planning price increases of 2% to 3%. Additionally, Flexsteel is diversifying its revenue streams by expanding into health and wellness categories, including nursery care and assisted mobility products, moving beyond traditional living room furniture.
Tickers: $FLXS
Topics: macroeconomic headwinds net sales growth order backlog pricing strategy