Hooker Furnishings Corp
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Hooker Furnishings Corp
Hooker Furnishings Corp. is a home furnishings marketing and logistics company. The company is headquartered in Martinsville, Virginia and currently employs 1,294 full-time employees. The company went IPO on 2001-04-12. The firm operates through three segments: casegoods furniture, upholstered furniture and all other. The firm's casegoods product categories include accents, home office, dining, bedroom and home entertainment furniture under the Hooker Furniture brand. Its residential upholstered seating companies include Bradington-Young, which is engaged in upscale motion and stationary leather furniture, and Sam Moore Furniture, which is engaged in upscale occasional chairs, settees, sofas and sectional seating with a focus on cover-to-frame customization. The company also markets a line of imported leather upholstery under the Hooker Upholstery trade name. All other segment operates under the H Contract and Homeware brands.
Hooker Furnishings Corp. is a home furnishings marketing and logistics company. The company is headquartered in Martinsville, Virginia and currently employs 1,294 full-time employees. The company went IPO on 2001-04-12. The firm operates through three segments: casegoods furniture, upholstered furniture and all other. The firm's casegoods product categories include accents, home office, dining, bedroom and home entertainment furniture under the Hooker Furniture brand. Its residential upholstered seating companies include Bradington-Young, which is engaged in upscale motion and stationary leather furniture, and Sam Moore Furniture, which is engaged in upscale occasional chairs, settees, sofas and sectional seating with a focus on cover-to-frame customization. The company also markets a line of imported leather upholstery under the Hooker Upholstery trade name. All other segment operates under the H Contract and Homeware brands.
Sales Decline: Consolidated net sales for Q2 were $82.1 million, down 13.6% year-over-year, mainly due to a sharp drop at Home Meridian.
Losses Widen: The company reported a consolidated operating loss of $4.4 million and a net loss of $3.3 million, both larger than last year’s quarter.
Cost-Cutting Progress: Hooker is on track to achieve $25 million in annualized cost savings, with most expense reductions to be completed by the end of Q3.
Turnaround at Legacy Segments: Hooker Branded broke even (vs. a loss last year) despite restructuring costs, and Domestic Upholstery significantly reduced its operating loss.
Tariff Challenges: Home Meridian faced severe headwinds from new tariffs, weak housing, and the loss of a major customer; company is mitigating 20% Vietnam tariffs across segments.
Order Momentum: Orders at Hooker Branded and Domestic Upholstery grew, with July orders up 24% YoY at both units.
Upcoming Launch: The Margaritaville collection is set to debut in October and is viewed as a major growth opportunity.
