Hooker Furnishings falls after Q4 sales miss on weaker demand

Hooker Furnishings

11/04/2024 16:16

** Shares of home furnishing firm Hooker Furnishings
 HOFT.O  down as much as 4.1% to over four-month low of $19.75
    ** Stock set for five straight sessions of losses
    ** Co misses Q4 sales estimates, driven by industry-wide
weak demand and discontinuation of unprofitable product lines in
its Home Meridian segment
    ** HOFT reports quarterly sales of $96.8 mln vs LSEG est of
$99.7 mln
    ** "Despite the current demand environment, many current
economic indicators support an optimistic outlook for the
medium-to-long term", co says 
    ** Co posts Q4 net income per share of 6 cents vs loss of
$1.60 per share last year
    ** Up to last close, stock fell nearly 23% YTD
    

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))