(4)

Revenue Recognition

 

The following table disaggregates our net sales by product category by segment for each fiscal year (in thousands):

 

   

Fiscal Year Ended June 30,

 
   

Wholesale

   

Retail

   

Eliminations(1)

   

Total

 

Upholstery(2)

  $ 184,123     $ 250,461     $ (133,775 )   $ 300,809  

Case goods(3)

    113,862       136,581       (74,914 )     175,529  

Accents(4)

    66,071       109,548       (58,861 )     116,758  

Other(5)

    (4,999 )     26,552       -       21,553  

Fiscal 2025

  $ 359,057     $ 523,142     $ (267,550 )   $ 614,649  
                                 

Upholstery(2)

  $ 184,699     $ 255,607     $ (132,708 )   $ 307,598  

Case goods(3)

    120,743       141,737       (74,316 )     188,164  

Accents(4)

    70,518       113,021       (58,392 )     125,147  

Other(5)

    (4,873 )     30,185       -       25,312  

Fiscal 2024

  $ 371,087     $ 540,550     $ (265,416 )   $ 646,221  
                                 

Upholstery(2)

  $ 224,272     $ 318,131     $ (163,589 )   $ 378,814  

Case goods(3)

    149,664       180,079       (93,022 )     236,721  

Accents(4)

    82,181       129,385       (64,153 )     147,413  

Other(5)

    (6,526 )     34,960       -       28,434  

Fiscal 2023

  $ 449,591     $ 662,555     $ (320,764 )   $ 791,382  

 

 

 

(1)

The Eliminations column in the table above represents the elimination of all intercompany wholesale segment sales to the retail segment in each period presented.

 

 

(2)

Upholstery includes fabric-covered items such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics and leather.

 

 

(3)

Case goods includes items such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture and wooden accents.

 

 

(4)

Accents includes items such as window treatments and drapery hardware, wall décor, florals, lighting, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, flooring, wall coverings and outdoor furnishings.

 

 

(5)

Other includes product delivery sales, our hotel revenues, sales of third-party furniture protection plans and other miscellaneous product sales less prompt payment discounts, sales allowances and other incentives.

Historical Timeline

Fiscal YearFiled
2025Aug 22, 2025Showing above
2024Aug 23, 2024
2023Aug 24, 2023
2022Aug 29, 2022
2021Aug 19, 2021
2020Aug 27, 2020
2019Aug 9, 2019
2018Aug 2, 2018

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.