Welcome to our dedicated page for Hooker Furnishings Corporation news (Ticker: HOFT), a resource for investors and traders seeking the latest updates and insights on Hooker Furnishings Corporation stock.
Hooker Furnishings Corporation (NASDAQ: HOFT), incorporated in 1924 and headquartered in Martinsville, Virginia, is a prominent player in the furniture industry, ranking among the top ten largest publicly traded furniture producers based on shipments to U.S. retailers. The company specializes in designing, importing, manufacturing, and marketing a wide range of residential household furniture, including wood and metal furniture, as well as upholstered furniture. Hooker Furnishings serves wholesale and retail merchandisers primarily located in North America, offering a comprehensive suite of products that cater to both residential and hospitality settings. Their portfolio also extends to contract furniture, lighting, accessories, and home décor.
The company has established a robust network of partnerships and continues to innovate in its product lines to meet the evolving demands of its diverse customer base. Recent achievements include coverage initiation and updates by Stonegate Capital Partners, highlighting Hooker Furnishings' strong market presence and investment potential. Stonegate Capital Partners is renowned for providing investor relations, equity research, and institutional investor outreach services, further enhancing the visibility and credibility of Hooker Furnishings in the capital market.
Financial Health: Hooker Furnishings maintains a solid financial condition, underpinned by a strategic mix of domestic manufacturing and international sourcing. This approach not only ensures quality but also allows the company to be agile in its operations, adapting swiftly to market trends and consumer preferences. The company’s financial strategy is designed to support sustainable growth and shareholder value.
For the latest updates and more detailed information, you can contact Paul A. Huckfeldt, Senior Vice President & Chief Financial Officer at (276) 666-3949.
On June 1, 2022, Hooker Furnishings Corporation (HOFT) announced a quarterly cash dividend of $0.20 per share, payable on June 30, 2022, to shareholders recorded by June 17, 2022. This long-standing company is in its 98th year, focusing on various furniture segments including residential and hospitality markets, and operates across multiple brands. It manufactures premium leather and upholstered furniture and has distribution centers in several U.S. states and abroad.
Hooker Furnishings Corporation (Nasdaq-GS: HOFT) will announce its fiscal 2023 first quarter financial results on June 9, 2022, at 9:00 AM ET via teleconference and live webcast. The first quarter runs from January 31, 2022, to May 1, 2022. The company designs, markets, and imports a variety of furniture products, including casegoods, upholstered, and outdoor furniture, catering to residential and hospitality sectors. The call will be archived for later viewing on their website.
Hooker Furnishings Corporation (NASDAQ-GS: HOFT) achieved net sales of $593.6 million in the fiscal year ending January 30, 2022, marking a 9.9% increase. The company reported a net income of $11.7 million or $0.97 per diluted share compared to a loss of $10.4 million in the previous year. Despite challenges from rising freight costs and factory shutdowns, segments like Hooker Branded and Domestic Upholstery showed strong sales growth, with increases of 23.5% and 22.2%, respectively. However, the fourth quarter saw a 13.2% sales decline due to ongoing supply chain issues.
Hooker Furnishings Corporation (HOFT) will release its fiscal 2022 fourth quarter financial results on April 13, 2022, at 9:00 AM ET. The earnings call can be accessed via teleconference or through a live webcast, which will also be archived for future viewing. The fourth quarter period lasted from November 1, 2021, to January 30, 2022. Hooker Furnishings, a major player in the U.S. furniture industry, specializes in various furniture types, including casegoods and upholstered pieces, catering to residential and hospitality markets.
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.
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