Hooker Furnishings Announces Postponement of Fiscal 2023 Financial Results Release and Conference Call

Rhea-AI Summary

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.

Positive

• Diverse product portfolio catering to various market segments, including residential and hospitality.
• Strong brand presence in the upper-medium price point furniture market.

Negative

• Postponement of financial results may create uncertainty among investors.
• Lack of clarity regarding future financial performance due to postponed earnings release.

MARTINSVILLE, Va., April 12, 2023 (GLOBE NEWSWIRE) -- Hooker Furnishings Corporation (NASDAQ-GS: HOFT) said today that in light of the Company’s announcement in its Current Report on Form 8-K filed today with the Securities and Exchange Commission, it has postponed the release of its fiscal 2023 financial results and conference call previously scheduled for Thursday, April 13, 2023, at 9:00 a.m. EST. The Company will announce its fiscal 2023 financial results and conference call schedule in a future press release.

Hooker Furnishings Corporation, in its 99th year of business, is a designer, marketer and importer of casegoods (wooden and metal furniture), leather furniture, and fabric-upholstered furniture for the residential, hospitality and contract markets. The Company also domestically manufactures premium residential custom leather and custom fabric-upholstered furniture and outdoor furniture. Major casegoods product categories include home entertainment, home office, accent, dining, and bedroom furniture in the upper-medium price points sold under the Hooker Furniture brand. Hooker’s residential upholstered seating product lines include Bradington-Young, a specialist in upscale motion and stationary leather furniture, Sam Moore Furniture, a specialist in upscale occasional chairs, settees, sofas and sectional seating with an emphasis on cover-to-frame customization, Hooker Upholstery, imported upholstered furniture targeted at the upper-medium price-range and Shenandoah Furniture, an upscale upholstered furniture company specializing in private label sectionals, modulars, sofas, chairs, ottomans, benches, beds and dining chairs in the upper-medium price points for lifestyle specialty retailers. The H Contract product line supplies upholstered seating and casegoods to upscale senior living facilities. The Home Meridian division addresses more moderate price points and channels of distribution not currently served by other Hooker Furnishings divisions or brands. Home Meridian’s brands include Pulaski Furniture, casegoods covering the complete design spectrum in a wide range of bedroom, dining room, accent and display cabinets at medium price points, Pulaski Upholstery, stationary and motion upholstery collections available in fabric and leather covering the complete design spectrum at medium price points, Samuel Lawrence Furniture, value-conscious offerings in bedroom, dining room, home office and youth furnishings, Prime Resources, value-conscious imported leather upholstered furniture, and Samuel Lawrence Hospitality, a designer and supplier of hotel furnishings. The Sunset West division is a designer and manufacturer of comfortable, stylish and high-quality outdoor furniture. Hooker Furnishings Corporation’s corporate offices and upholstery manufacturing facilities are located in Virginia, North Carolina and California, with showrooms in High Point, N.C., Las Vegas, N.V., and Ho Chi Minh City, Vietnam. The company operates distribution centers in Virginia, Georgia, California and Vietnam. Please visit our websites hookerfurnishings.com, hookerfurniture.com, bradington-young.com, sammoore.com, hcontractfurniture.com, homemeridian.com, pulaskifurniture.com, accentricshome.com, slh-co.com, and sunsetwestusa.com.

For more information, contact:
Paul A. Huckfeldt, Senior Vice President-Finance and CFO
Hooker Furnishings Corporation, 276.666.3949

FAQ

Why has Hooker Furnishings postponed its fiscal 2023 financial results?

The postponement was due to an announcement made in their Current Report on Form 8-K.

When is Hooker Furnishings expected to release its financial results?

The new date for the financial results release has not yet been disclosed.

What markets does Hooker Furnishings serve?

Hooker Furnishings serves residential, hospitality, and contract markets with a variety of furniture products.

What is the stock symbol for Hooker Furnishings?

The stock symbol for Hooker Furnishings is HOFT.

What types of products does Hooker Furnishings offer?

Hooker Furnishings offers casegoods, leather furniture, and fabric-upholstered furniture across various price points.