Hooker Furnishings Reports Q1 Profit of $1.06M vs. Loss Last Year
Hooker Furnishings Corporation reported a net income of $1.061 million for the first quarter of fiscal year 2027, a significant improvement from a net loss of $3.052 million in the same period last year. While net sales decreased slightly to $69.452 million from $71.184 million, gross profit rose to $20.592 million and operating income turned positive at $1.578 million. The company also completed the divestment of certain brands, with results classified as discontinued operations. The company's cash position improved substantially.
Key Highlights
- Hooker Furnishings reported net income of $1.061 million for the thirteen weeks ended May 3, 2026, compared to a net loss of $3.052 million for the same period in 2025.
- Net sales for the thirteen weeks ended May 3, 2026, were $69.452 million, a decrease from $71.184 million in the prior year period.
- Gross profit increased to $20.592 million for the thirteen weeks ended May 3, 2026, from $17.935 million in the prior year period.
- Operating income was $1.578 million for the thirteen weeks ended May 3, 2026, compared to an operating loss of $498,000 in the prior year period.
- Basic earnings per share from continuing operations were $0.10 for the thirteen weeks ended May 3, 2026, compared to a loss of $0.06 in the prior year period.
- The company completed the sale of Pulaski Furniture and Samuel Lawrence casegoods brands on December 12, 2025, with results reflected as discontinued operations.
- Cash and cash equivalents increased to $10.618 million as of May 3, 2026, from $1.112 million as of February 1, 2026.
Price Impact
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