Hooker Furnishings rise on higher Q4 sales, cost-saving plans

Hooker Furnishings

17/04/2025 11:39

** Shares of retailer Hooker Furnishings HOFT.O up 8.3% at $8.20 premarket

** Company's Q4 net sales increase 21.7% to $104.5 million

** Posts net loss of $2.3 million, or 22 cents per share, compared with a profit of $593 million, or 6 cents per share, a year ago

     ** CEO Jeremy Hoff says the planned exit of Savannah warehouse is expected to save $4 million to $7 million annually beginning in fiscal 2027

** "While macroeconomic headwinds, including a weak housing market, lower consumer confidence and tariff uncertainty, persist, we remain focused on what we can control" - CEO

** As of last close, HOFT shares down 46% YTD

(Reporting by Siddhi Mahatole)

((siddhi.mahatole@thomsonreuters.com))