UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended July 30, 2023 Commission file number 000-25349 HOOKER FURNISHINGS CORPORATION (Exact name of registrant as specified in its charter) Virginia 54-0251350 440 East Commonwealth Boulevard, Martinsville, VA 24112 (Address of principal executive of ices, zip code) (276) 632-2133 (Registrant's telephone number, incl ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended April 30, 2023 Commission file number 000-25349 HOOKER FURNISHINGS CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (IRS employer identification no.) Virginia 54-0251350 440 East Commonwealth Boulevard, Martinsville, VA 24112 (Add ...

Financial Data and Key Metrics Changes - Consolidated net sales for Q1 2024 were $121.8 million, a decrease of $25.5 million or 17% compared to the prior year [56] - Consolidated net income was $1.5 million or $0.13 per diluted share, down from $3.2 million or $0.26 per diluted share in the prior year [62] - Cash and cash equivalents increased to $31 million at the end of Q1 2024, up $12 million from the prior year [79] Business Line Data and Key Metrics Changes - In the Hooker Branded segment, net sales decreased slightly by 0.8% or $339,000 compared to the prior year [12] - Home Meridian segment saw a sales decrease of $20 million or 32% compared to the prior year, driven by lower sales from major furniture chains [68] - Domestic upholstery experienced a sales decline of $6 million or about 15%, marking the first quarterly sales decline in over two years [75] Market Data and Key Metrics Changes - Quarter-end backlog for Hooker Branded was lower than the prior year but remained 50% higher than pre-pandemic levels [73] - Incoming orders at HMI were lower than the prior year quarter due to the absence of orders from the Clubs channel [69] - The hospitality division's net sales more than doubled compared to the prior year, indicating a strong recovery in the hospitality industry [74] Company Strategy and Development Direction - The company is focusing on organic growth opportunities through expanded visibility, strategic product development, and operational improvements [19] - The transition to a new leaner business model at HMI is ongoing, with expectations of achieving profitability by the end of the fiscal year [66] - The launch of the new brand M and the rebranding of Sam Moore to HF Custom are part of the strategic initiatives to capture market share [11][15] Management's Comments on Operating Environment and Future Outlook - Management noted mixed retail conditions and economic uncertainties but observed positive trends in incoming orders for May and June [92] - The company expects some short-term volatility in sales and earnings at HMI but remains optimistic about achieving quarterly profitability by the end of fiscal 2024 [86] - Management emphasized the importance of aligning inventory levels with current demand and noted that inventory obsolescence has not been an issue [60] Other Important Information - The company generated $22 million in cash from operating activities during the quarter, which funded share repurchases and capital expenditures [80] - The liquidation of ACH inventories is about 80% complete, aiding in reducing the domestic warehousing footprint [63] - The company has an aggregate $27.2 million available under its existing revolver to fund working capital needs if necessary [83] Q&A Session Summary Question: Can you discuss the gross margin increase? - Management noted that the gross margin increased nearly three percentage points due to lower ocean freight costs and a return to more normalized discounting levels [27][33] Question: What is the status of the HMI warehousing footprint reduction? - Management stated they are 80% through the process and expect to reduce the footprint significantly by the end of the fiscal year [35] Question: How are incoming orders trending? - Management reported that order rates have improved across various brands, indicating a positive trend in demand [38][44] Question: What impact did the ERP rollout have on Sunset West? - Management confirmed that Sunset West faced disruptions during the ERP rollout, but these issues have largely been resolved [102] Question: What is the consolidated backlog number? - The consolidated backlog at the end of the quarter was $87 million [101]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Address of principal executive of ices, Zip Code) Washington, DC 20549 Form 10-K Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended January 29, 2023 Commission file number 000-25349 HOOKER FURNISHINGS CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) Virginia 54-0251350 440 East Co ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended October 30, 2022 Commission file number 000-25349 HOOKER FURNISHINGS CORPORATION (Exact name of registrant as specified in its charter) Virginia 54-0251350 (State or other jurisdiction of incorporation or organization) (IRS employer identification no.) 440 East Commonwealth Boulevard, Martinsville, VA 24112 (A ...

Hooker Furnishings Corporation (NASDAQ:HOFT) Q3 2023 Earnings Conference Call December 8, 2022 9:00 AM ET Company Participants Jeremy Hoff - Chief Executive Officer Paul Huckfeldt - Senior Vice President and Chief Financial Officer Conference Call Participants Anthony Lebiedzinski - Sidoti Operator Greetings ladies and gentlemen, and welcome to the Hooker Furnishings quarterly investor conference call reporting its operating results for its fiscal 2023 third quarter. At this time, all participants are in ...

Hooker Furnishings Corporation (NASDAQ:HOFT) Q2 2023 Earnings Conference Call September 8, 2022 9:00 AM ET Company Participants Paul Huckfeldt - Senior Vice President and Chief Financial Officer Jeremy Hoff - Chief Executive Officer Conference Call Participants Anthony Lebiedzinski - Sidoti JP Geygan - Global Value Investment Corp John Deysher - Pinnacle Value Fund Operator Good day and thank you for standing by. Welcome to the Hooker Furnishings Second Quarter 2023 Earnings Webcast. [Operator Instructions] ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION HOOKER FURNISHINGS CORPORATION (Exact name of registrant as specified in its charter) Virginia 54-0251350 (State or other jurisdiction of incorporation or organization) (IRS employer identification no.) 440 East Commonwealth Boulevard, Martinsville, VA 24112 Washington, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended July 31, 2022 Commission file number 000-25349 (Addr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended May 1, 2022 Virginia 54-0251350 (State or other jurisdiction of incorporation or organization) (IRS employer identification no.) 440 East Commonwealth Boulevard, Martinsville, VA 24112 (Address of principal executive of ices, zip code) (276) 632-2133 (Registrant's telephone number, including area code) Indicat ...

Hooker Furnishings Corporation (NASDAQ:HOFT) Q1 2023 Earnings Conference Call June 9, 2022 9:00 AM ET Company Participants Jeremy Hoff - Chief Executive Officer and Director Paul Huckfeldt - Vice President, Finance and Chief Financial Officer Conference Call Participants Anthony Lebiedzinski - Sidoti & Company Sandy Mehta - Evaluate Research Operator Greetings, ladies and gentlemen, and welcome to the Hooker Furnishings Quarterly Investor Conference Call Reporting its Operating Results for the First Quarter ...