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: HOFT), a leader in furniture manufacturing since 1924, maintains this dedicated news hub for investors and industry professionals. Access timely updates including quarterly earnings reports, executive leadership changes, and strategic partnership announcements.
This resource consolidates all essential HOFT developments, from production facility expansions to new residential furniture collections. Users will find verified information on supply chain initiatives, retail distribution updates, and design innovation milestones within the home furnishings sector.
The archive contains press releases related to corporate governance changes, sustainability efforts in manufacturing, and market expansion strategies. Bookmark this page for direct access to HOFT's official financial disclosures and operational updates, carefully curated to support informed decision-making.
Hooker Furniture (NASDAQ: HOFT) reported Q4 FY25 results with revenue of $104.5M, representing a 7.9% year-over-year increase from $96.8M, slightly exceeding consensus estimates. Despite challenging macroeconomic conditions, the company achieved a consolidated gross profit margin of 23.3%, marking a 30 basis points increase quarter-over-quarter.
However, the company posted an operating loss of ($2.7M) and adjusted EPS of ($0.22), falling below analyst expectations. HOFT has successfully reduced fixed costs by 10% (approximately $10.0M) and targets an additional $10.0M in cost savings through the Savannah warehouse exit and other initiatives, with full realization expected by FY27. The company also reduced debt levels from $76.3M to $70.3M over FY25.
Hooker Furnishings (NASDAQ: HOFT) reported mixed results for Q4 fiscal 2025. Net sales increased 8% to $104.5 million, primarily due to an additional week in the quarter. The company recorded a consolidated operating loss of $2.7 million and net loss of $2.3 million ($0.22 per share).
Q4 charges totaled $3.1 million, including inventory write-downs, tradename impairment, and bad debt expenses. For full-year fiscal 2025, sales decreased 8.3% to $397.5 million with a net loss of $12.5 million.
The company announced additional cost-saving initiatives, including:
- Expected fiscal 2026 savings of $0.8-1.0 million from Savannah warehouse exit
- Anticipated annual savings of $4.0-5.7 million beginning fiscal 2027
- Total planned cost savings of $18-20 million annually once fully implemented
Despite challenges, Hooker reported market share growth of 3-15 basis points in its Legacy divisions through Q3 FY2025. The company maintained its dividend payment, extending its 50+ year track record of uninterrupted dividends.
Hooker Furnishings (Nasdaq-GS: HOFT) has announced its upcoming fiscal 2025 fourth quarter and full year financial results presentation, scheduled for Thursday, April 17, 2025, at 9:00 AM Eastern Time. The presentation will be accessible via teleconference and live internet webcast on the company's Investor Relations page.
The fiscal period under review includes the fourth quarter that began on October 28, 2024, and ended on February 2, 2025. The company, now in its 101st year, operates as a designer, marketer, and importer of furniture and home décor products across residential, hospitality, and contract markets. Their portfolio includes multiple brands such as Hooker Furniture, Bradington-Young, HF Custom, Shenandoah Furniture, and Home Meridian division brands including Pulaski Furniture and Samuel Lawrence Furniture.
Hooker Furnishings (NASDAQ: HOFT) announced its decision to exit its Savannah, Georgia distribution center and consolidate operations in existing facilities. The facility, which opened in October 2021 for the Home Meridian segment's Accentrics Home brand, became unsustainable due to sharp increases in post-COVID container freight rates from Asia (from $4,000 to over $25,000 per container).
The company expects to record net charges of $1.6-$2.0 million in fiscal 2025 and $3.0-$4.0 million in fiscal 2026 related to the exit. However, HOFT anticipates preliminary savings of $750,000-$1.0 million in net operating expenses in fiscal 2026 and annualized savings of $4.0-$4.5 million beginning in fiscal 2027.
The company is working with current employees, landlord, and new tenants to ensure a smooth transition, providing exit benefits to affected employees and helping them secure new positions.
Hooker Furnishings (Nasdaq-GS: HOFT) has declared a quarterly cash dividend of $0.23 per share, payable on March 31, 2025, to shareholders of record on March 17, 2025. The announcement was made by the board of directors on March 5, 2025.
Currently in its 100th year of business, Hooker Furnishings operates as a designer, marketer, and importer of various furniture categories including casegoods, leather and fabric-upholstered furniture, lighting, and home décor. The company's portfolio includes several brands targeting different market segments:
- Hooker Furniture - upper-medium price points casegoods
- Bradington-Young - upscale leather furniture
- HF Custom - fashion-forward custom upholstery
- Home Meridian division - moderate price points
- Sunset West division - outdoor furniture
Hooker Furniture (NASDAQ: HOFT) reported Q3 FY25 results with revenue of $104.4M, operating income of ($7.3M), and adjusted EPS of ($0.39). While revenue slightly exceeded consensus estimates, consolidated revenues decreased 10.7% from 3Q24 due to macro headwinds and a major HMI customer bankruptcy. Despite challenges, the company achieved a consolidated gross profit margin of 23.0%, up 100bps quarter-over-quarter.
The company maintains its goal of reducing fixed costs by 10% (approximately $10.0M) in FY26. HOFT also announced a global licensing agreement with Margaritaville to boost future revenues. The company faces ongoing challenges from varying interest rates, housing shortage, and elevated home prices.
Hooker Furnishings (NASDAQ: HOFT) reported fiscal 2025 third quarter results with significant challenges. The company recorded a consolidated net loss of $4.1 million ($0.39 per diluted share) and net sales of $104.4 million, down 10.7% year-over-year. Results were impacted by $7.5 million in charges, including restructuring costs ($3.1 million), customer bankruptcy-related bad debt ($2.4 million), and trade-name impairment charges ($2.0 million).
Despite challenges, Home Meridian achieved its highest gross margin (20.5%) since 2016. The company expects to exceed its goal of $10 million in annualized cost savings by fiscal 2026. Management noted positive developments in macro-economic conditions, including cooling inflation and recent interest rate cuts, which could boost housing market demand.
Hooker Furnishings (Nasdaq-GS: HOFT) has declared a quarterly cash dividend of $0.23 per share, payable on December 30, 2024, to shareholders of record on December 13, 2024. The announcement was made following the board of directors' meeting on December 2, 2024. The company, celebrating its 100th year in business, specializes in designing, marketing, and importing various furniture categories including casegoods, leather and fabric-upholstered furniture, lighting, and home décor for residential, hospitality, and contract markets.
Hooker Furnishings (Nasdaq-GS: HOFT) has scheduled its fiscal 2025 third quarter financial results presentation for December 5, 2024, at 9:00 AM Eastern Time. The presentation will be accessible via teleconference and live internet webcast on the company's Investor Relations page. The fiscal quarter covered the period from July 29, 2024, to October 27, 2024. The company, celebrating its 100th year, is a designer, marketer, and importer of furniture and home décor products across multiple brands and price points, serving residential, hospitality, and contract markets.
Hooker Furnishings has entered into a global licensing agreement with Margaritaville, the iconic lifestyle brand, to launch an extensive line of home furnishings. The partnership will include indoor and outdoor furnishings for residential, contract, and hospitality markets, spanning various price points and categories.
The agreement covers the Margaritaville brand, Latitude by Margaritaville, and Island Reserve by Margaritaville, aligning with Hooker Furnishings' versatile portfolio. With 75% of Americans familiar with Margaritaville, this partnership represents a significant opportunity for Hooker Furnishings to expand in the home furnishings market.
The complete indoor/outdoor collection is planned to launch in October 2025 at Hooker Furnishings' Showplace showroom in High Point, NC. The companies also plan to explore hospitality and commercial opportunities for Margaritaville's branded real estate properties and communities.
FAQ
What is the current stock price of Hooker Furnishings Corporation (HOFT)?
What is the market cap of Hooker Furnishings Corporation (HOFT)?
