HOOKER FURNISHINGS (HOFT) Company Report

Hooker Furnishings Corporation entered into a Cooperation Agreement with Global Value Investment Corporation (GVIC) on January 1, 2026, to identify and appoint a mutually agreeable independent director with industry expertise to its Board of Directors within 45 days.
The Board will increase its size from eight to nine directors to accommodate the new appointee, who will be included on the slate of nominees for the 2026 and 2027 annual meetings of shareholders.
GVIC has agreed to vote its shares in accordance with the Board's recommendations (with specific exceptions) and is subject to customary standstill restrictions, including not acquiring more than 9.9% of the Company's outstanding Common Stock.
Board Chair W. Christopher Beeler, Jr. will retire from the Board at the 2026 annual meeting of shareholders after 33 years of service, and at least one other current director will also not stand for re-election at that meeting.

2 days ago

8-K

Hooker Furnishings Completes Sale of Pulaski Furniture and Samuel Lawrence Furniture Brands

HOFT

M&A

Share Buyback

Hooker Furnishings Corporation completed the sale of its Pulaski Furniture and Samuel Lawrence Furniture casegoods brands to Magnussen Home Furnishings, Inc. on December 12, 2025.
The transaction was valued at approximately $6.1 million, with $5.5 million received in cash at closing and a $0.6 million holdback amount payable after a 210-day period.
As part of the sale, Hooker Furnishings also shed approximately $4.8 million in HMI showroom lease liabilities.
CEO Jeremy Hoff indicated that this transaction is a significant milestone for enhanced profitability and mentioned an opportunistic share repurchase program.

Dec 18, 2025, 9:23 PM

8-K

Hooker Furnishings Completes Sale of Pulaski and Samuel Lawrence Furniture Brands

HOFT

M&A

Share Buyback

Hooker Furnishings Corporation completed the sale of its Pulaski Furniture and Samuel Lawrence Furniture casegoods brands to Magnussen Home Furnishings, Inc. for approximately $6.1 million.
This transaction is expected to enhance profitability and resulted in the company shedding approximately $4.8 million in HMI showroom lease liabilities and related expenses.
The company reported a modest improvement in sales and margins within Hooker Branded and Domestic Upholstery for the fiscal third quarter and plans opportunistic share repurchases in connection with a new share repurchase program.

Dec 15, 2025, 11:00 AM

Press Release

Hooker Furnishings Reports Q3 2026 Results, Announces Divestiture and Capital Allocation Changes

HOFT

Earnings

M&A

Dividends

Hooker Furnishings Corp. reported a net loss from continuing operations of $12.5 million, or $1.18 per diluted share, for Q3 2026, with consolidated net sales from continuing operations decreasing 14.4% to $70.7 million compared to the prior year. This included $22.1 million in non-cash impairment charges.
The company announced the strategic divestiture of value-priced home furnishings brands Pulaski Furniture and Samuel Lawrence Furniture, which were reported as discontinued operations and saw combined net sales decline $11.3 million in Q3.
HOFT has achieved over $25 million in annualized savings through cost reduction initiatives, with continued savings expected in fiscal 2027.
The board authorized a new share repurchase program of up to $5 million and recalibrated the annual dividend, reducing it by 50% to $0.46 per share annually, beginning with a $0.115 per share payment on December 31, 2025.
Hooker Branded net sales increased 1.1% in Q3, and the company launched the Margaritaville license collection, which is anticipated to drive meaningful incremental revenue in the second half of next year.

Dec 11, 2025, 2:00 PM

Transcript

Hooker Furnishings Reports Q3 2026 Net Loss, Announces Divestiture and Share Repurchase

HOFT

Earnings

M&A

Share Buyback

Hooker Furnishings (HOFT) reported a net loss from continuing operations of $12.5 million, or $1.18 per diluted share, for Q3 2026, which included $22.1 million in non-cash impairment charges. Consolidated net sales from continuing operations decreased 14.4% to $70.7 million compared to the prior year period.
The company announced the strategic divestiture of value-priced home furnishings brands Pulaski Furniture and Samuel Lawrence Furniture, which are now reported as discontinued operations and are expected to close later this month. This move aims to exit low-margin, tariff-sensitive categories and focus on stronger brands.
HOFT achieved over $25 million in annualized savings through cost reduction initiatives and anticipates continued savings in fiscal 2027. The company also launched the Margaritaville license collection, which is expected to drive meaningful incremental revenue in the second half of next year.
The board authorized a new share repurchase program of up to $5 million and recalibrated the annual dividend, reducing it by 50% to $0.46 per share annually, starting with the December 31, 2025, payment. The company maintained financial flexibility with $63.8 million in available borrowing capacity at quarter end.

Dec 11, 2025, 2:00 PM

Transcript

Hooker Furnishings Reports Q3 2026 Results, Announces Divestiture, Share Repurchase, and Dividend Reduction

HOFT

Earnings

M&A

Dividends

Hooker Furnishings reported Q3 2026 consolidated net sales of $70.7 million, a 14.4% decrease compared to the prior year, and a net loss from continuing operations of $12.5 million or $1.18 per diluted share, which included $22.1 million in non-cash impairment charges.
The company announced the strategic divestiture of Pulaski Furniture and Samuel Lawrence Furniture on December 1, 2025, to focus on higher-margin brands, and has achieved over $25 million in annualized savings from cost reduction initiatives, with further savings expected in fiscal 2027.
To enhance shareholder returns and maintain flexibility, the Board authorized a new share repurchase program for up to $5 million and reduced the annual dividend by 50% to $0.46 per share, effective December 31, 2025.
A new Margaritaville license collection was launched, securing 55 committed retail galleries, which is anticipated to drive meaningful incremental revenue starting in the second half of next year.

Dec 11, 2025, 2:00 PM

Transcript

Hooker Furnishings Reports Q3 2026 Results, Announces Divestiture and Shareholder Return Program

HOFT

Earnings

Share Buyback

Dividends

Hooker Furnishings reported its Q3 2026 results, announcing the strategic divestiture of its value-priced home furnishings brands, Pulaski Furniture and Samuel Lawrence Furniture, which are now classified as discontinued operations.
The company implemented a multi-phase cost-reduction program, achieving approximately $25-$26.5 million in annualized savings and reducing its overall cost structure by 25% over the past 18 months.
A new shareholder return program was authorized, including a $5 million share repurchase program and a 50% reduction in the annual dividend to $0.46 per share, effective December 31, 2025.
For Q3 2026, the company reported a net loss of $(21.174) million and a basic loss per share of $(1.99), significantly impacted by $22.1 million in non-cash impairment charges.
Hooker Furnishings maintained financial flexibility with $63.8 million in available borrowing capacity at quarter-end.

Dec 11, 2025, 11:01 AM

8-K

Hooker Furnishings Announces Sale of Two Home Meridian Brands

HOFT

M&A

New Projects/Investments

Hooker Furnishings Corporation announced its entry into a definitive agreement to sell its Pulaski Furniture and Samuel Lawrence Furniture casegoods brands to Magnussen Home Furnishings, Inc..
The estimated purchase price is approximately $4.8 million, based on the net book value of the assets as of November 2, 2025.
The company will also shed approximately $4.8 million in Home Meridian showroom lease liabilities and related expenses.
The transaction is expected to close by mid-December 2025 and is anticipated to result in $5 to $6 million in non-cash impairment charges, primarily from the write-down of Home Meridian intangibles and fixed assets.
This sale is part of a multi-year effort to streamline the company's portfolio and strengthen profitability by focusing on brands that generate consistent earnings.

Dec 3, 2025, 10:01 PM

8-K

Hooker Furnishings Announces Sale of Two Brands within Home Meridian Segment

HOFT

M&A

Guidance Update

Hooker Furnishings (HOFT) has entered into a definitive agreement to sell its Pulaski Furniture and Samuel Lawrence Furniture casegoods brands to Magnussen Home Furnishings, Inc.
The estimated purchase price for the brands is approximately $4.8 million, based on the net book value of assets as of November 2, 2025.
The company expects to shed approximately $4.8 million in Home Meridian showroom lease liabilities and record $5 to $6 million in non-cash impairment charges, net of expected lease gains.
This transaction, expected to close by mid-December 2025, is part of a multi-year effort to streamline the portfolio and strengthen profitability.

Dec 1, 2025, 10:17 PM

Press Release

Hooker Furnishings Reports Q2 2026 Net Loss Amidst Sales Decline and Restructuring Efforts

HOFT

Earnings

Demand Weakening

New Projects/Investments

Hooker Furnishings reported a consolidated net loss of $3.3 million, or $0.31 per share, on $82.1 million in net sales for Q2 2026, representing a 13.6% decrease from the prior year.
The decline in consolidated net sales was primarily driven by the Home Meridian segment, which experienced a 44.5% decrease in net sales due to tariff-related buying hesitancy, macroeconomic pressures, and the loss of a major customer.
Despite overall challenges, the Hooker branded segment reached breakeven and domestic upholstery significantly reduced its operating loss in Q2 2026, reflecting progress in cost reduction initiatives.
The company is implementing a multi-phase plan to reduce fixed costs by approximately $25 million (or 25%) from fiscal 2025 levels, with the new expense structure expected to be largely in place by the end of fiscal 2026 Q3.
Hooker Furnishings is also adapting to a new 20% tariff rate on imports from Vietnam, effective August 1, 2025, and is preparing for the launch of its Margaritaville license collection at the October High Point Market.