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 Furnishings Corporation (NASDAQ-GS: HOFT) reported fiscal year 2023 results, with consolidated net sales of $583.1 million, down 1.8% year-over-year. A significant decline of 22.4% in the Home Meridian segment was partially offset by 46.7% growth in Domestic Upholstery. The company incurred a non-cash charge of $24.4 million due to exiting the low-margin Accentrics Home line, contributing to an operating loss of $6.0 million and a net loss of $4.3 million or ($0.37) per diluted share. Despite challenges, the CEO expressed confidence in future profitability, particularly in the Home Meridian segment. With cash reserves of $19 million, the company is focused on improving inventory levels and enriching shareholder returns through dividends and share repurchases.
Hooker Furnishings Corporation (Nasdaq-GS: HOFT) has announced a new date for its fiscal 2023 fourth quarter and full year financial results presentation, now set for April 19, 2023, at 9:00 AM ET. This delay from the original date of April 13 is due to the need for additional time to finalize non-cash charges linked to the restructuring of specific business units within the Home Meridian segment. The live webcast will be accessible on the Company’s Investor Relations page, with replay options available afterward. Hooker Furnishings, marking its 99th year, specializes in designing, marketing, and importing a variety of furniture products across multiple market segments.
Hooker Furnishings Corporation (NASDAQ: HOFT) has postponed its fiscal 2023 financial results release and conference call that was scheduled for April 13, 2023, due to an announcement made in its Current Report on Form 8-K. The specific date for the future announcement of financial results remains undisclosed.
With nearly a century of experience, Hooker Furnishings designs, markets, and imports a wide array of furniture products, ranging from casegoods to upholstered items. Their diverse portfolio serves multiple markets, including residential and hospitality sectors, through brands like Bradington-Young, Sam Moore Furniture, and Home Meridian.
Hooker Furnishings operates from several locations, including Virginia, North Carolina, California, and Vietnam, and maintains distribution centers to support its extensive product lines.
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