Welcome to our dedicated page for Hooker Furnishings Corporation news (Ticker: HOFT), a resource for investors and traders seeking the latest updates and insights on Hooker Furnishings Corporation stock.
Hooker Furnishings Corporation (NASDAQ-GS: HOFT) is a home furnishings company that regularly issues news on its operations, portfolio changes and capital allocation decisions. The company describes itself as a designer, marketer and importer of casegoods, leather furniture, fabric-upholstered furniture, lighting, accessories and home décor for residential, hospitality and contract markets, and also as a domestic manufacturer of premium custom upholstery and outdoor furniture.
News about Hooker Furnishings often covers earnings results for its Hooker Branded, Domestic Upholstery and All Other segments, along with commentary on cost reduction initiatives and efforts to reposition the business as a focused, higher-margin, design-led company. Releases have detailed multi-phase cost reduction programs, warehouse consolidation, and the impact of tariffs and macroeconomic conditions on demand and margins.
Investors following HOFT news can also expect updates on portfolio moves, such as the sale of the Pulaski Furniture and Samuel Lawrence Furniture casegoods brands to Magnussen Home Furnishings, Inc., and the continued operation of the Samuel Lawrence Hospitality line. Announcements have highlighted growth initiatives, including licensed collections and merchandising platforms, as well as developments in the Sunset West outdoor division and contract-focused H Contract business.
Corporate governance and capital allocation are additional themes in Hooker Furnishings’ news flow, including dividend declarations, share repurchase authorizations and a cooperation agreement with Global Value Investment Corporation to add an independent director with industry expertise. For investors, analysts and industry observers, the HOFT news page provides a centralized view of these updates, making it easier to monitor how the company is adjusting its portfolio, cost structure and governance in response to industry and economic conditions.
Hooker Furnishings (NASDAQ: HOFT) entered a cooperation agreement with Global Value Investment Corporation (GVIC) to identify and appoint an independent director with industry expertise within 45 days. Once vetted, the Board will expand from eight to nine members and immediately appoint the director, who will be nominated for election at the 2026 and 2027 annual meetings. The Company also announced that Board Chair W. Christopher Beeler Jr. will retire at the 2026 annual meeting and will not stand for re-election. GVIC agreed to vote its shares for Hooker nominees and accepted customary voting and standstill commitments with specified timing. The full agreement will be filed as an exhibit to a Form 8-K.
Hooker Furniture (NASDAQ: HOFT) reported Q3 FY26 results with revenue $70.7M, operating loss $16.3M, and adjusted EPS ($1.99), missing Stonegate/consensus estimates. Revenue declined 32.2% year-over-year following the sale of most of the HMI business segment, while Hooker Branded net sales rose 4.4% y/y and Domestic Upholstery rose 3.0% y/y. Consolidated gross profit margin improved to 25.6% after exiting lower-margin HMI operations. Profitability was pressured by one-time trade name impairment charges related to the HMI transaction. Management emphasized navigating housing-market weakness, high mortgage rates, and subdued consumer demand while working to return to profitability.
Hooker Furnishings (NASDAQ: HOFT) completed the sale of the Pulaski Furniture and Samuel Lawrence Furniture casegoods brands to Magnussen Home Furnishings for approximately $6.1 million, subject to customary post-closing adjustments.
Ten percent of the purchase price is subject to a 210-day holdback for indemnification and final adjustments. The transaction shifts approximately $4.8 million of HMI showroom lease liabilities and related expenses to Magnussen. Hooker cited modest improvement in sales and margins in Hooker Branded and Domestic Upholstery and noted a new share repurchase program and focus on its Margaritaville licensed collection. Stump & Company served as financial advisor and McGuireWoods LLP as legal advisor.
Hooker Furnishings (NASDAQ: HOFT) reported fiscal 2026 third-quarter results for the period ended November 2, 2025, and announced a strategic divestiture of Pulaski Furniture and Samuel Lawrence Furniture classified as discontinued operations and expected to close this week. Q3 consolidated net sales fell 14.4% year-over-year; operating loss was $16.3M. Management recorded $22.1M of non-cash impairments ($16.7M net of tax), implemented cost reductions of approximately $25–$26.5M annualized, and reported $63.8M in available borrowing capacity at quarter-end.
The board authorized a $5M share repurchase program and cut the annual dividend 50% to $0.46 per share, with a quarterly dividend of $0.115 payable Dec 31, 2025.
Hooker Furnishings (NASDAQ: HOFT) entered a definitive agreement to sell Pulaski Furniture and Samuel Lawrence Furniture casegoods brands to Magnussen, with an estimated purchase price of approximately $4.8 million as of the company's fiscal Q3 end (Nov 2, 2025), subject to final adjustment at closing. Magnussen will assume HMI's High Point showroom lease and related liabilities of roughly $4.8 million. The deal is expected to close by mid-December 2025 with 10% of purchase price held back for 210 days. Hooker expects $5–6 million in non-cash impairment charges, net of lease gains, and will discuss details on its fiscal Q3 earnings call on Dec 11, 2025.
Hooker Furniture (NASDAQ: HOFT) reported Q2 FY26 results below expectations, with revenue of $82.1M (down 13.6% year-over-year), operating loss of $4.4M, and adjusted EPS of ($0.31).
The revenue decline was primarily driven by a 44.5% decrease in HMI segment due to weak demand, tariff concerns, and a major customer bankruptcy. However, Hooker Branded segment showed resilience with 1.3% growth, while Domestic Upholstery remained flat. The company maintained a 20.5% consolidated gross margin through cost savings and improved labor efficiency.
Management is focused on navigating macro challenges while implementing cost-saving initiatives, targeting $25M in annualized savings by FY27. The company has reduced debt by $16.5M year-to-date and optimized inventory to $58.5M.
Hooker Furnishings (NASDAQ-GS: HOFT) reported fiscal 2026 Q2 results, highlighting progress in its multi-phase cost reduction strategy targeting $25 million in annualized savings by FY2027. Q2 net sales were $82.1 million, down 13.6% YoY, with a net loss of $3.3 million.
The company achieved notable improvements in key segments: Hooker Branded sales increased 1.3% YoY with breakeven operating results, while Domestic Upholstery reduced operating losses by nearly 70%. HMI faced challenges with sales down 44.5% YoY. The company has implemented significant cost-reduction initiatives, reducing operating expenses by $3.7 million in 1H FY26 despite $1.7 million in restructuring costs.
The company is actively managing a new 20% tariff on Vietnamese imports while maintaining its dividend and focusing on strategic growth initiatives, including the upcoming Margaritaville collection launch and leveraging its new Vietnam warehouse operation.
Hooker Furnishings (NASDAQ:HOFT) has declared a quarterly cash dividend of $0.23 per share, payable on September 30, 2025, to shareholders of record on September 19, 2025.
The company, now in its 101st year of business, operates through multiple divisions including Hooker Furniture, Bradington-Young, HF Custom, Home Meridian, and Sunset West. These divisions serve various market segments from upper-medium price points to more moderate price ranges across residential, hospitality, and contract markets.
The company maintains manufacturing facilities in Virginia, North Carolina, and California, with distribution centers in Virginia, North Carolina, and Vietnam.
Hooker Furnishings (Nasdaq-GS: HOFT) has announced its fiscal 2026 second quarter earnings conference call, scheduled for September 11, 2025, at 9:00 AM Eastern Time. The call will be accessible via webcast on the company's investor relations website and through a dial-in option.
The company, now in its 101st year, is a prominent designer, marketer, and importer of furniture and home décor products. Their portfolio includes multiple brands across various price points, including Hooker Furniture, Bradington-Young, HF Custom, Home Meridian, and others. The fiscal quarter under discussion ran from May 5, 2025, to August 3, 2025.
Hooker Furnishings (NASDAQ:HOFT) has scheduled its fiscal 2026 second quarter earnings conference call for September 11, 2025, at 9:00 AM ET. The quarter covers the period from May 5, 2025, to August 3, 2025.
The company, now in its 101st year of business, is a prominent designer, marketer, and importer of furniture and home décor products. Their portfolio includes multiple brands across various price points, including Hooker Furniture, Bradington-Young, HF Custom, Shenandoah Furniture, and Home Meridian. The company maintains manufacturing facilities in Virginia, North Carolina, and California, with showrooms in multiple locations including High Point, NC, Las Vegas, NV, Atlanta, GA, and Ho Chi Minh City, Vietnam.
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