Welcome to our dedicated page for Hooker Furnishings news (Ticker: HOFT), a resource for investors and traders seeking the latest updates and insights on Hooker Furnishings stock.
Hooker Furnishings Corporation reports news on its home furnishings business, including operating results, segment performance and product categories sold into residential, hospitality and contract markets. The company designs, markets and imports casegoods, leather furniture, fabric-upholstered furniture, lighting, accessories and home décor, and it domestically manufactures premium custom leather, custom fabric-upholstered and outdoor furniture.
Recurring developments for HOFT include updates on Hooker Branded, Domestic Upholstery and the All Other category that includes Samuel Lawrence Hospitality. Company news also covers dividends, shareholder-return actions, board and governance matters, cost and margin initiatives, and portfolio changes, including the completed divestiture of Pulaski Furniture and Samuel Lawrence Furniture.
Hooker Furnishings Corporation (Nasdaq-GS: HOFT) has declared a quarterly cash dividend of $0.20 per share, which will be paid on March 31, 2022 to shareholders recorded by March 17, 2022. This announcement marks a significant milestone as the company celebrates its 98th year in business. Hooker Furnishings is known for its diverse product range, including casegoods, leather, and upholstered furniture, and ranks among the largest publicly traded furniture sources based on 2020 U.S. retail shipments.
Hooker Furnishings (NASDAQ: HOFT) has completed the all-cash acquisition of Sunset West, a prominent outdoor furniture manufacturer. This strategic move positions Hooker Furnishings to enhance its market share in the growing outdoor furniture sector. Sunset West retains its management and workforce, continuing operations from Vista, California. The partnership allows Hooker to leverage Sunset West's expertise and existing distribution channels, promising a stronger product offering and credibility in the outdoor segment. The acquisition reflects consumer trends favoring quality outdoor furniture.
Hooker Furnishings Corporation (NASDAQ-GS: HOFT) reported a 11% decline in consolidated net sales for Q3 2022, totaling $133.4 million, driven by diminished shipments in the Home Meridian segment due to COVID-related factory closures in Vietnam and Malaysia. The company faced an operating loss of $1.7 million, in contrast to a $13 million operating income last year. Despite challenges, strong demand remains with backlogs tripling compared to pre-pandemic levels. The board declared a $0.20 quarterly dividend, up 11% from the previous one.
Hooker Furnishings Corporation (Nasdaq-GS:HOFT) declared a quarterly cash dividend of $0.20 per share on December 7, 2021, payable on December 31, 2021 to shareholders of record by December 17, 2021. This marks an 11.1% increase over the previous dividend and the sixth consecutive annual increase in dividends paid. Founded in its 98th year of business, Hooker Furnishings designs, markets, and imports a variety of furniture for residential and contractual markets, ranking among the largest publicly traded furniture sources in the U.S. based on 2020 shipments.
Hooker Furnishings Corporation (HOFT) will announce its fiscal 2022 third-quarter financial results on December 9, 2021, at 9:00 AM ET through a teleconference. The third quarter spans from August 2, 2021, to October 31, 2021. The live web cast will be available on the company's website for later replay. Established for 98 years, Hooker Furnishings is a significant designer and importer of various furniture types, catering to residential and commercial markets.
Hooker Furnishings Corp. (NASDAQ: HOFT) announces the immediate retirement of Paul B. Toms Jr. as Chairman of the Board. Toms, who has been with the company since 1983 and served as Chairman and CEO since 2000, steps down after 28 years on the Board. Henry G. Williamson Jr., a director since 2004, will succeed Toms as Chairman. Toms stated that Hooker Furnishings is in excellent financial condition with a capable management team focused on strategic goals, risk mitigation, and stakeholder interests.
Hooker Furniture Corporation (NASDAQ-GS: HOFT) reported strong financial results for its fiscal 2022 second quarter, achieving consolidated net sales of $162.5 million, a 25% increase year-over-year. Net income rose to $7.5 million or $0.62 per diluted share, marking a 29% increase. Despite higher freight and raw material costs, operating income improved to $9.7 million. All reportable segments experienced significant sales growth, with backlogs nearly doubling. However, factory shutdowns due to the Delta variant present challenges for the supply chain.
Hooker Furniture (NASDAQ: HOFT) has declared a quarterly cash dividend of $0.18 per share, payable on September 30, 2021. Shareholders of record will be those holding shares by September 16, 2021. This announcement marks a consistent return to shareholders as the company approaches its 98th year of operations. Hooker Furniture is recognized among the largest publicly traded furniture companies in the U.S., specializing in a diverse range of furniture including casegoods and upholstered pieces for residential and commercial markets.
Hooker Furniture Corporation (Nasdaq-GS: HOFT) will announce its fiscal 2022 second quarter financial results on September 9, 2021, at 9:00 AM ET. The second quarter period spanned from May 3, 2021, to August 1, 2021. The announcement will be made during a teleconference, which can be accessed by domestic and international callers. The results will also be available via a webcast on Hooker Furniture's website under Investor Relations.
Hooker Furniture Corporation (HOFT) reported consolidated net sales of $162.9 million for Q1 fiscal 2022, marking a 56% increase year-over-year. Net income reached $9.4 million, equivalent to $0.78 per diluted share, both record highs for the company’s fiscal first quarter. The Hooker Branded Segment drove this growth with an 89% sales increase. Despite industry-wide challenges like logistics issues and inflation, incoming order rates are more than double historical norms. The company declared a quarterly cash dividend of $0.18 per share, payable on June 30, 2021.