Brief: Hooker Furniture Posts Q1 Preliminary Loss Per Share Of $0.09

Hooker Furnishings

12/06/2020 11:13

June 12 (Reuters) - Hooker Furniture Corp  HOFT.O :
    * HOOKER FURNITURE REPORTS PRELIMINARY RESULTS FOR FIRST
QUARTER
DURING FEBRUARY-APRIL COVID CRISIS
    * Q1 PRELIMINARY LOSS PER SHARE $0.09
    * Q1 SALES $104.6 MILLION
    * COVID-19 HAD A MATERIAL IMPACT ON OUR FINANCIAL
PERFORMANCE IN
FISCAL 2021 Q1
    * WE EXPECT Q2 TO BE SIGNIFICANTLY BETTER THAN Q1
    * HOOKER FURNITURE - HAD TO REDUCE WORKFORCE BY 35 EMPLOYEES
BUT
WERE ABLE TO KEEP 97% OF U.S. EMPLOYEES ON BOARD
    * HOOKER FURNITURE - EXPECT SOME NEGATIVE IMPACTS TO GROSS
MARGINS
& OPERATING INCOME AS WE RAMP PRODUCTION UP TO MEET INCREASING
DEMAND DURING FISCAL 2021 Q2

Source text for Eikon:  ID:nGNXbGHBJs 
Further company coverage:  HOFT.O 

 ((Reuters.Briefs@thomsonreuters.com;))