Fri, Apr 18, 8:55 PM (35 days ago)
**Hooker Furnishings Corporation (HOFT) - Summary** **Financial Performance:** - **Revenue:** $397.5 million (down 8.3% YoY) - **Net Income:** -$12.5 million (loss) - **Earnings per Share (EPS):** -$1.19 - **Operating Loss:** -$18.1 million **Segment Performance:** - **Hooker Branded:** Sales down 6.5%, operating loss of -$0.7 million - **Home Meridian:** Sales down 8.9%, operating loss of -$6.4 million - **Domestic Upholstery:** Sales down 9.9%, operating loss of -$4.7 million - **All Other:** Sales down 4.9%, operating loss of -$57.0 million **Strategic Overview:** - **Cost Reduction:** Ongoing efforts to reduce costs and improve efficiency. - **Market Position:** Facing challenges due to weak demand and macroeconomic uncertainties. - **Growth Initiatives:** Investing in high-growth potential areas and gaining market share. **Future Outlook:** - **Economic Uncertainty:** Significant economic volatility and uncertainty. - **Tariffs and Trade:** Potential impact of additional reciprocal tariffs. - **Market Share:** Positioned to gain market share and maximize revenues. **Risk Factors:** - **Economic Downturn:** Sensitivity to economic conditions and consumer spending. - **Supply Chain:** Dependence on offshore sourcing and potential disruptions. - **Currency Fluctuations:** Exposure to changes in foreign currency exchange rates. - **Customer Concentration:** Reliance on a few major customers. - **Operational Risks:** Dependence on key suppliers and potential disruptions. **Financial Condition:** - **Liquidity:** Adequate liquidity with available cash and cash equivalents, lines of credit, and life insurance policies. - **Debt:** Amended and Restated Loan Agreement with Bank of America, secured by substantially all assets. - **Capital Expenditures:** Expected to spend $2-3 million in fiscal 2026 for operating systems and facilities. **Market Position Changes:** - **Dividends:** Declared and paid dividends of $0.92 per share. - **Share Repurchase:** Completed share repurchase program in fiscal 2024. **Note:** Amounts are usually in thousands, 000s.