Hooker Furniture: Rises to over 2-yr high on strong demand forecast

Hooker Furnishings

10/12/2020 17:41

** Shares of furniture designer  HOFT.O  rise 8.30% to
$35.89, their highest in more than two years
    ** Hooker Furniture expects to post strong results in next
two to three quarters, benefiting from increased consumer focus
on home-furnishing category and a strong housing market
 urn:newsml:reuters.com:*:nGNXbxJgf9
    ** We benefit from less competition for discretionary
spending from industries that we typically compete with, such as
travel, leisure and entertainment - CEO Paul Toms to analysts
    ** HOFT's Q3 profit more than doubles, as net sales at its
higher-margin eponymous brand jumped
    ** HOFT, on course for best session in five months, up ~40%
so far this year

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@thomsonreuters.com))