Hooker Furniture ( (HOFT) ) has released its Q1 earnings. Here is a breakdown of the information Hooker Furniture presented to its investors.
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Hooker Furnishings Corporation, a century-old leader in the home furnishings industry, specializes in the design, production, and marketing of a wide range of furniture products for residential, hospitality, and contract markets. The company is known for its diverse product offerings, including casegoods, leather, and fabric-upholstered furniture, and outdoor furnishings.
In its fiscal 2026 first quarter, Hooker Furnishings reported a reduction in operating loss by 31% to $3.6 million, despite an 8.8% decrease in net sales to $85.3 million. This improvement was largely driven by cost-saving initiatives and stable sales from legacy brands. The company also reported a net loss of $3.1 million, an improvement from the previous year’s loss of $4.1 million.
Key financial highlights include a 180 basis point improvement in gross margin, stable sales in Hooker Branded products, and a significant reduction in operating losses for both the Domestic Upholstery and Home Meridian segments. The company also made strategic moves to enhance supply chain efficiency by opening a new warehouse in Vietnam, which is expected to improve product flow and inventory management.
Looking ahead, Hooker Furnishings remains focused on executing its cost reduction strategies, aiming for $25 million in annualized savings by fiscal 2027. Despite challenges in the home furnishings market due to macroeconomic headwinds, the company is committed to maintaining its strategic growth priorities and enhancing shareholder value through disciplined execution and capital stewardship.