Hooker Furnishings plummets to over 2-yr low as sales, profit slide

Hooker Furnishings

08/09/2022 17:53

** Shares of home furnishing firm Hooker Furnishings Corp
 HOFT.O  fall as much as 6.6% to $14.38, their lowest level
since May 2020
    ** Stock, last down ~5%, will log its worst drop in nearly
three months if losses hold
    ** HOFT's Q2 net sales drop ~6% to $152.9 mln, co says it is
seeing lower orders as overstocked retailers manage inventories
tightly  urn:newsml:reuters.com:*:nGNXDQwXl
    ** Co's net income slides to $5.5 mln, or 46 cents/share,
from $7.5 mln, or 62 cents/share a year earlier
    ** YTD, shares down ~37% 

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com;))