Hooker Furniture reports Q3 EPS (39c) vs. 65c last year

Reports Q2 revenue $104.4M vs. $116.83M last year. “Despite the charges recorded in Q3 and the sustained macro-economic and furniture retail challenges, we’re encouraged by the sequential quarterly improvement in our core business profitability and by the progress of our cost reduction efforts, which will be more fully realized beginning in the 4th quarter,” said CEO Jeremy Hoff. “This progress is a reflection of our team’s focus on managing our controllables and reducing non-strategic costs in a very challenging environment, while investing in impactful initiatives, including our recently announced global licensing agreement with Margaritaville, all of which we expect will benefit us when demand normalizes. There are positive developments in the macro-economic environment, such as cooling inflation and recent interest rate cuts in September and November, which should begin to increase demand for furnishings as lower mortgage rates boost the housing market.We are aggressively producing our top collections to ensure we will be in stock during Q1 of FY26. These inventories are high-quality assortments, centered on our best-selling and most-profitable SKUs.”