SECURITIES AND EXCHANGE COMMISSION
                               Washington, DC  20549

                                      ---------
                                      FORM 10-Q
                                      ---------

[X] Quarterly report pursuant to Section 13 or 15(d) of the Securities
    Exchange Act of 1934

        For the quarterly period ended January 25, 1998

[ ] Transition report pursuant to Section 13 or 15(d) of the Securities
    Exchange Act of 1934

        For the transition period from ________________ to ________________




                           COMMISSION FILE NUMBER    0-314




                            Pulaski Furniture Corporation
               (Exact name of registrant as specified in its charter)

                                      Virginia
                   (State or other jurisdiction of incorporation)

                                     54-0594965
                        (IRS employer identification number)

                          P.O. Box 1371, Pulaski, Virginia
                      (Address of principal executive offices)

                                       24301
                                     (Zip Code)

                                    540-980-7330
                           (Registrant's telephone number)




Indicate by checkmark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934
during the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.    YES [X]      NO [ ]


Indicate the number of shares outstanding of each of the issuer's classes
of common stock as of the latest practicable date:
2,813,324 shares of common stock outstanding as of February 27, 1998



<PAGE>
Pulaski Furniture Corporation
Index



PART I:  Financial Statements

     Consolidated Condensed Balance Sheets as of
     January 25, 1998 and November 2, 1997 . . . . . . . . . . . . . . 2

     Consolidated Condensed Statements of Income
     Three 4-week periods ended January 25, 1998
     and January 26, 1997  . . . . . . . . . . . . . . . . . . . . . . 3

     Consolidated Statements of Cash Flows
     Three 4-week periods ended January 25, 1998
     and January 26, 1997  . . . . . . . . . . . . . . . . . . . . . . 4

     Notes to Consolidated Condensed Financial Statements  . . . . . . 5

     Management's Discussion and Analysis of the
     Consolidated Condensed Statements of Income . . . . . . . . . . . 6


PART II:  Other Information  . . . . . . . . . . . . . . . . . . . . . 8

     Signatures  . . . . . . . . . . . . . . . . . . . . . . . . . . . 9

     Exhibit Index . . . . . . . . . . . . . . . . . . . . . . . . .  10






























<PAGE>
Pulaski Furniture Corporation
Consolidated Condensed Balance Sheets
(in thousands)
                                                January 25,       November 2,
                                                   1998              1997
ASSETS                                          ----------        ----------
Current assets:
  Cash and cash equivalents                     $   6,585         $   2,702 
  Accounts receivable, net                         24,966            36,726 
                                                ----------        ----------
                                                   31,551            39,428 
  Inventories:
    Raw materials                                  13,328            13,270 
    Work-in-process                                 6,751             5,220 
    Finished goods                                 24,014            27,612 
                                                ----------        ----------
                                                   44,093            46,102 
    Less LIFO reserve                             (14,758)          (14,758)
                                                ----------        ----------
                                                   29,335            31,344 
  Prepaid expenses                                    462               874 
  Recoverable income taxes                              0             1,474 
  Deferred income taxes                             1,277             1,277 
                                                ----------       -----------
    Total current assets                           62,625            74,397 

Property, plant and equipment, net                 34,641            35,248 
Cash surrender value of life insurance              1,223             1,223 
Other                                                  11                11 
                                                ----------       -----------
    Total assets                                $  98,500         $ 110,879 
                                                ==========        ==========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
  Accounts payable and accrued expenses:
    Accounts payable                            $   5,860         $   6,222 
    Wages and commissions                           1,084             2,902 
    Taxes withheld from employees                     462               400 
    Other accrued liabilities                       1,069             1,889 
                                                ----------        ----------
                                                    8,475            11,413 
  Notes payable                                     2,000            12,000 
  Federal and state income taxes                      103                 0 
  Current portion of long-term debt                 2,000             2,000 
                                                ----------        ----------
    Total current liabilities                      12,578            25,413 

Long-term notes payable                            25,338            25,774 
Deferred income taxes                               3,720             3,742 
Deferred compensation                               2,628             2,681 
Shareholders' equity
  Common stock                                      5,408             4,989 
  Retained earnings                                49,001            48,479 
  Unamortized restricted stock                       (173)             (199)
                                                ----------        ----------
    Total shareholders' equity                     54,236            53,269 
    Total liabilities and shareholders' equity  $  98,500         $ 110,879 
                                                ==========        ==========
See accompanying notes to financial statements.
<PAGE>
Pulaski Furniture Corporation
Consolidated Condensed Statements of Income
(in thousands, except for per share data)

                                  Three 4-week periods ended
                                     Jan. 25,    Jan. 26,     Incr         
                                       1998        1997      (Decr)      % 
                                     ---------   ---------  --------   ----

Net sales                            $ 36,310    $ 35,422   $   888     2.5 %

Costs and expenses
  Cost of sales                        29,215      28,487       728     2.6 
  Selling & administrative              5,098       5,315      (217)   (4.1)
                                    ----------  ----------  --------
Operating income                        1,997       1,620       377    23.3 

Other income and expenses
  Interest expense                        446         585      (139)  (23.8)
  Interest income                          (4)         (4)        0     0.0 
                                    ----------  ----------  --------
    Total                                 442         581      (139)  (23.9)

Income before income taxes              1,555       1,039       516    49.7 

Provision for taxes on income             555         375       180    48.0 
                                    ----------  ----------  --------

Net income                           $  1,000    $    664   $   336    50.6 
                                    ==========  ==========  ========

Weighted average number
of shares outstanding:
  Basic                             2,815,724   2,820,855
  Diluted                           2,824,204   2,828,625


Earnings per share:         
  Basic                                 $0.36       $0.24
  Diluted                               $0.35       $0.23


Cash dividends per share:               $0.17       $0.17















See accompanying notes to financial statements.
<PAGE>
Pulaski Furniture Corporation
Consolidated Statements of Cash Flows


                                                   Three 4-week periods ended
                                                    January 25,   January 26,
                                                       1998          1997 
                                                   ------------  ------------
OPERATING ACTIVITIES
  Net income                                       $ 1,000,107   $   663,841 
  Adjustments to reconcile net income to net
  cash provided by operating activities:
    Provision for depreciation/amortization          1,152,624     1,229,252 
    Provision for deferred income taxes                (22,500)      (22,500)
    Provision for deferred compensation                (52,582)       (6,692)
    Changes in operating assets and liabilities:
      Decrease in trade receivables                 11,760,138    11,646,045 
      (Increase) decrease in inventories             2,008,859    (1,556,105)
      (Increase) decrease in prepaid expenses          412,946      (221,808)
      Decrease in recoverable income taxes           1,473,577             0 
      Decrease in accounts payable and
        accrued expenses                            (2,937,763)   (2,656,558)
      Increase (decrease) in federal and state
        income taxes payable                           102,361      (419,044)
                                                   ------------  ------------
  NET CASH PROVIDED BY OPERATING ACTIVITIES         14,897,767     8,656,431 

INVESTING ACTIVITIES
  Purchase of property, plant and equipment           (520,020)     (848,351)
  Increase in cash surrender value                           0        (7,095)
                                                   ------------  ------------
  NET CASH USED IN INVESTING ACTIVITIES               (520,020)     (855,446)

FINANCING ACTIVITIES
  Proceeds from issuance of common stock               514,930       469,210 
  Repurchase of common stock                           (96,250)     (400,000)
  Payment of dividends                                (477,925)     (482,383)
  Decrease in notes payable                        (10,000,000)   (9,000,000)
  Payments on long-term debt                          (435,979)     (508,458)
                                                   ------------  ------------
  NET CASH USED IN FINANCING ACTIVITIES            (10,495,224)   (9,921,631)
                                                   ------------  ------------

Increase (decrease) in cash and cash equivalents     3,882,523    (2,120,646)
Cash and cash equivalents at beginning of period     2,702,339     2,396,850 
                                                   ------------  ------------
Cash and cash equivalents at end of period         $ 6,584,862   $   276,204 
                                                   ============  ============










See accompanying notes to financial statements.
<PAGE>
Pulaski Furniture Corporation
Notes to Consolidated Condensed Financial Statements


See notes to financial statements included in the Corporation's 10-K for the
year ended November 2, 1997, for information concerning accounting policies,
long-term debt, stock options and other financial matters. There have been
no material changes in financial matters since November 2, 1997.

In the opinion of the Corporation, the accompanying unaudited consolidated
condensed financial statements contain all adjustments (consisting of only
normal accruals) necessary to present fairly the financial position as of
January 25, 1998 and November 2, 1997, and the results of operations and
cash flows for the three 4-week periods ended January 25, 1998 and January
26, 1997.

The results of operations for the three 4-week periods ended January 25,
1998 and January 26, 1997 are not necessarily indicative of the results to
be expected for the full year.  See Management's Discussion and Analysis for
a detailed discussion on the cyclical nature of the Corporation's operating
results.

In 1997, the Financial Accounting Standards Board issued Statement of Finan-
cial Accounting Standards No. 128, "Earnings per Share."  Statement 128 re-
placed the previously reported primary and fully diluted earnings per share
with basic and diluted earnings per share.  Unlike primary earnings per
share, basic earnings per share excludes any dilutive effects of options, 
warrants, and convertible securities.  Diluted earnings per share is very
similar to the previously reported fully diluted earnings per share.  All
earnings per share amounts for all periods have been presented, and where
necessary, restated to conform to the Statement 128 requirements.

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

                                                   Three 4-week periods ended
                                                    January 25,   January 26,
                                                       1998          1997 
                                                   ------------  ------------
Numerator:
  Net income                                       $ 1,000,107   $   663,841 

Denominator:
  Denominator for basic earnings per
    share - weighted average shares                  2,815,724     2,820,855 
  Effect of dilutive securities:
    Stock options                                        4,800         3,421 
    Stock purchase plan                                  3,680         4,349 
  Denominator for diluted earnings per
    share - adjusted weighted average shares         2,824,204     2,828,625 
    
Basic earnings per share                                 $0.36         $0.24  
Diluted earnings per share                               $0.35         $0.23 







<PAGE>
Pulaski Furniture Corporation
Management's Discussion and Analysis of the
Consolidated Condensed Statements of Income

Comparison of First Quarter 1998 to First Quarter 1997  (See page 3 for
dollar and percent changes.)
----------------------------------------------------------------------------

The stronger retail environment in the first quarter of 1998 caused an incr-
ease in orders throughout the period and was the primary reason for the sales
increase compared with the 1997 quarter.  The 1997 quarter included sales of
two divisions subsequently closed.  The increase in net income was due primar-
ily to the sales increase, lower administrative and interest expense, and the
elimination of the two unprofitable divisions.

Historically, the quarterly results of the Corporation have reflected a cyc-
lical pattern, as indicated below:
                                             QTR 1    QTR 2    QTR 3    QTR 4
     4-year average of net sales volume      22.4%    22.7%    18.3%    36.6%

This pattern reveals that the Corporation's first quarter, ending in January,
has accounted for approximately 22% of net sales volume.  The second quarter,
ending in April, is roughly equivalent in sales volume to the first quarter, 
while the third quarter, ending in July, shows a drop in volume to 18%.  The
remainder, or 37% of sales volume, is recorded in the fourth quarter, which
comprises four 4-week reporting periods and which also includes the strongest
selling season for certain product lines.  However, due to a number of risks
and uncertainties beyond the Corporation's control, including economic condi-
tions and consumer confidence, historical trends should not be viewed as an
accurate predictor of future results.  The Corporation believes the results
of the first quarter ended January 25, 1998, are reasonable in relation to
the historical pattern, considering the retail environment for household
furniture.

The Corporation recognizes that the year 2000 presents many challenges for
information systems.  In light of this recognition, management has enacted a
strategic business plan to ensure the needs of the year 2000 are met and that
the costs of preparing for this challenge are both understood and manageable.

Based on recent assessments, the Corporation has determined that it will be 
required to modify or replace significant portions of its software so that
its computer systems will properly reflect dates beyond December 31, 1999. If
such modifications are not made, or are not completed timely, the Year 2000
Issue could have a material impact on the operations of the Corporation. The
Corporation expects to complete the modifications timely.

The Corporation will use both internal and external resources to reprogram,
or replace, and test the software for the Year 2000 modifications.  The Corp-
oration is funding the Year 2000 project with cash generated from operations.
The project will be expensed or capitalized as appropriate over the next two
years, and is not expected to have a material effect on the results of oper-
ations.

Formal communications with all significant suppliers, customers and financial
service organizations of the Corporation is currently underway to determine
the extent to which the Corporation might be made vulnerable by those third
parties' failure to remediate their own Year 2000 Issue.  The Corporation has
determined that it has no exposure to contingencies related to the Year 2000
for the products already sold.
<PAGE>
Pulaski Furniture Corporation
Management's Discussion and Analysis of the
Consolidated Condensed Statements of Income (cont.)

Capital Resources and Liquidity
--------------------------------

Working capital provided by operations was $2,100,000 for the quarter ended
January 25, 1998 compared to $1,864,000 for the quarter ended January 26,
1997.  Net working capital increased by $1,063,000 during the first quarter
of 1998 compared with a decrease of $2,913,000 in the first quarter of 1997.

During the first quarter of 1998, the Corporation's average amount of 
outstanding indebtedness for borrowed money was $33,969,871.  The weighted
average rate of interest on such indebtedness was approximately 5.58% per
annum.











































<PAGE>
Pulaski Furniture Corporation
Part II  -  Other Information


Item 4.    Submission of Matters to a Vote of Security Holders

  On February 13, 1998, the Corporation held its annual meeting of share-
  holders, at which the following business was transacted:

    O. Kenton McCartney, III, was elected to serve as a Class I director
    of the Corporation for a term of two years.

    Robert C. Greening, Jr., and John G. Wampler were elected to serve as
    Class II directors of the Corporation, each for a term of three years.

  The votes for the election of the Class I directors and for the approval
  of the resolution were as follows:

                                       FOR     AGAINST     ABSTAIN 
                                 ----------  ----------  ----------
        Mr. McCartney             2,314,436           0       5,091
        Mr. Greening              2,314,586           0       4,941
        Mr. Wampler               2,314,586           0       4,941

  The terms of the following directors continued beyond the 1998 annual
  meeting:  Bernard C. Wampler, Harry H. Warner, Harry J.G. van Beek, and
  Hugh V. White, Jr.

Item 5.    Other Information

  All other information called for by other items of Part II of the Form 10-Q
  is either inapplicable or the response to the items would be negative.

Item 6.    Exhibits and Reports on Form 8-K

  (a)  Exhibits
          4   Amended and Restated Rights Agreement between Pulaski
                Furniture Corporation and First Union National Bank,
                dated as of December 15, 1997. *
         27   Financial Data Schedule *

  (b)  Reports on Form 8-K
              There were no reports on Form 8-K filed during the quarter
              ended January 25, 1998.


* Filed herewith.












<PAGE>
Pulaski Furniture Corporation
Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                                     PULASKI FURNITURE CORPORATION



Date:  February 27, 1998              /s/ John G. Wampler
                                     ---------------------------------------
                                     John G. Wampler
                                     President and Chief Executive Officer



                                      /s/ Jason A. Gibbs
                                     ---------------------------------------
                                     Jason A. Gibbs
                                     Treasurer and Chief Financial Officer
                                     (Principal Accounting Officer)



































<PAGE>
Pulaski Furniture Corporation
Exhibit Index


Exhibit
Number                   Description

   4          Amended and Restated Rights Agreement between Pulaski Furn-
              iture Corporation and First Union National Bank, dated as of
              December 15, 1997.

  27          Financial Data Schedule