Hooker Furnishings Corporation - HOFT STOCK NEWS

Maria Duey has joined the Board of Directors of Hooker Furniture Corporation (NASDAQ: HOFT), bringing over 20 years of experience in mergers and acquisitions and investor relations. Currently the CEO of Leonine Advisory, Duey previously worked at Masco Corp., where she led investor relations and managed multiple acquisitions. Chair Paul B. Toms expressed enthusiasm for her addition, citing her strong skill set and cultural fit. Duey stated her excitement about contributing to the company's growth as it approaches its 100th anniversary.

Hooker Furniture Corporation (HOFT) has scheduled a teleconference to discuss its fiscal 2021 fourth quarter financial results on April 14, 2021, at 9:00 AM ET. The company’s fourth quarter period ran from November 2, 2020, to January 31, 2021. The conference will be available for replay on the company’s website, covering its extensive portfolio of casegoods and upholstered furniture. Hooker is recognized as one of the largest publicly traded furniture sources in the U.S., catering to diverse markets including residential and hospitality sectors.

Hooker Furniture (Nasdaq-GS:HOFT) declared a quarterly cash dividend of $0.18 per share on March 1, 2021, payable on March 31, 2021, to shareholders recorded by March 17, 2021. With 97 years in business, Hooker designs, markets, and imports various furniture types for residential and hospitality markets. It ranks among the largest publicly traded furniture sources in the U.S., focusing on mid-range price points. Hooker’s product lines include brands like Bradington-Young and Sam Moore Furniture.

Hooker Furnishings has promoted Johne Albanese to Chief Marketing Officer and Tod Phelps to Senior Vice President-Operations, expanding their executive roles. Albanese, previously Vice President of Marketing, will oversee marketing for the company's twelve brands. Phelps, who joined the firm in 2017, adds responsibility for all operations to his current role as Chief Information Officer. CEO Jeremy Hoff expressed confidence that these promotions will greatly benefit the company. Hooker Furnishings operates manufacturing facilities in Virginia and North Carolina, with distribution centers in the U.S., China, and Vietnam.

Hooker Furnishings has promoted Anne Smith to Chief Administrative Officer and President of Domestic Upholstery, and Mike Harris to President of Hooker Casegoods. Both leaders report to CEO Jeremy Hoff. Smith, who joined Hooker in 2008, will manage corporate human resources and oversee brands including Sam Moore and Bradington-Young. Harris, with nearly three years at the company, was previously VP of Sales. CEO Hoff expressed confidence in their leadership abilities, stating they provide a strong foundation for success.

Jeremy Hoff has officially been appointed as the new CEO of Hooker Furnishings, effective February 1, 2021, following the retirement of Paul Toms Jr., who held the position for 20 years. Hoff, previously President of several Hooker Legacy companies, aims to build on the legacy of his predecessors while facing industry challenges and opportunities. Hooker Furnishings is one of North America's top five furniture resources, operating 12 divisions globally and known for quality residential furniture.

Hooker Furniture Corporation (HOFT) reported Q3 fiscal 2021 net sales of $149.7 million, down 5.4% year-over-year, but net income surged 157.5% to $10 million ($0.84 per diluted share).

Despite supply chain disruptions from COVID-19, incoming orders rose 33.8%, and backlog increased by 87.5%. Operating income rose 161.1% to $13 million. Though there were challenges due to raw material scarcity and shipping issues, the company anticipates improvements in Q4 and is actively hiring to meet demand.

The board declared a 12.5% dividend increase to $0.18 per share, continuing a trend of annual dividend growth.

Hooker Furniture Corporation (NASDAQ-GS: HOFT) declared a quarterly cash dividend of $0.18 per share on December 2, 2020, representing a 12.5% increase from the previous quarter. The dividend is payable on December 31, 2020, to shareholders of record as of December 16, 2020. This marks the fifth consecutive annual dividend increase for the company, which has been in business for 97 years. Hooker Furniture is a major player in the furniture market, specializing in casegoods and upholstered furniture across various price points.

Hooker Furniture Corporation (Nasdaq-GS:HOFT) will release its fiscal 2021 third quarter financial results on December 10, 2020, at 9:00 AM ET via teleconference and live web cast. The financial period ran from August 3 to November 1, 2020. As a leading designer and importer of various furniture types, Hooker Furniture ranks among the largest publicly traded furniture sources in the U.S. The company operates multiple distribution centers and offers a wide range of products across different price points through various brands.