Hooker Furnishings Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended October 29, 2023
December 07, 2023 at 06:01 am EST
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Hooker Furnishings Corporation reported earnings results for the third quarter and nine months ended October 29, 2023. For the third quarter, the company reported sales was USD 116.83 million compared to USD 151.58 million a year ago. Net income was USD 7.04 million compared to USD 4.84 million a year ago. Basic earnings per share from continuing operations was USD 0.66 compared to USD 0.42 a year ago. Diluted earnings per share from continuing operations was USD 0.65 compared to USD 0.42 a year ago.
For the nine months, sales was USD 336.45 million compared to USD 451.8 million a year ago. Net income was USD 9.27 million compared to USD 13.57 million a year ago. Basic earnings per share from continuing operations was USD 0.85 compared to USD 1.16 a year ago. Diluted earnings per share from continuing operations was USD 0.85 compared to USD 1.14 a year ago.
Hooker Furnishings Corporation is a designer, marketer and importer of casegoods (wooden and metal furniture), leather furniture, fabric-upholstered furniture, lighting, accessories, and home decor for the residential, hospitality and contract markets. Its segments include Hooker Branded, Home Meridian and Domestic Upholstery. Hooker Branded segment which includes two businesses: Hooker Casegoods, which covers a range of design categories and includes home entertainment, home office, accent, dining and bedroom furniture in the upper-medium price points sold under the Hooker Furniture brand; and Hooker Upholstery, which includes imported upholstered furniture targeted at the upper-medium price-range. The Home Meridian segment includes Pulaski Furniture, Samuel Lawrence Furniture, Prime Resources International and Samuel Lawrence Hospitality. The Domestic Upholstery segment includes Bradington-Young, HF Custom, Shenandoah Furniture and Sunset West operations.