Hooker Furniture eyes best day since Aug 2018 on robust Q1 earnings

Hooker Furnishings

04/06/2021 14:25

** Shares of furniture seller  HOFT.O  up ~12% at $41.97
premarket 
    ** HOFT posts Q1 adj EPS of 83 cents on rev of $162.86 mln,
easily beating Refinitiv est for profit of $0.21/shr on rev of
$121.39 mln
    ** Results boosted by 89% year-on-year surge in Hooker
branded segment sales, while home meridian and domestic
upholstery segments both reported 46% sales increases versus the
prior year period due to high demand for home products
 urn:newsml:reuters.com:*:nGNXssJTg
    ** We're cautiously optimistic, considering the
industry-wide supply chain, logistics and raw materials
shortages and inflation - CEO Jeremy Hoff 
    ** Co also declares dividend of $0.18/shr
    ** Only 1 brokerage covers the stock with a " strong buy"
rating and PT of $46 -  Refinitiv data
    ** Shares eye best day since Aug 2018 and up 16.2% for the
year

 (Reporting by Devik Jain in Bengaluru)
 ((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))