From GlobeNewswire.: 2024-06-06 06:00:00

Hooker Furnishings Corporation reported a $93.6 million net sales in the fiscal 2025 first quarter, down 23.2% from the prior year. Gross profit decreased leading to a $5.2 million operating loss. The company maintains strong cash levels of $41 million and plans a 10% reduction in fixed costs for the second half of the year.

The Hooker Branded segment saw a decrease in net sales due to lower unit volume and pricing. Home Meridian’s net sales declined by 37% primarily due to the absence of Accentrics Home. Domestic Upholstery experienced a 14.5% sales decrease, but Sunset West saw a 20% sales increase. The company plans to continue focusing on strategic initiatives and cost reductions for future profitability.



Read more at GlobeNewswire.:: Hooker Furnishings Reports First Quarter Operating Results