Financial Data and Key Metrics Changes - Consolidated net sales for Q2 2026 were $82.1 million, down $13 million, or 13.6% year-over-year, primarily driven by declines at Home Meridian [4][5] - Consolidated operating loss was $4.4 million compared to $3.1 million in the prior year quarter, reflecting lower sales volume and unfavorable customer mix [4] - Consolidated net loss was $3.3 million, or $0.31 per share, with a six-month net loss of $6.3 million, or $0.60 per diluted share [4][5] Business Line Data and Key Metrics Changes - Hooker branded net sales increased by 1.3% year-over-year, reaching breakeven compared to a $329,000 loss last year, despite $655,000 in restructuring costs [3][15] - Home Meridian net sales decreased by 44.5%, impacted by tariff-related buying hesitancy and the loss of a major customer due to bankruptcy, accounting for about 25% of the sales decline [3][16] - Domestic upholstery sales were flat in Q2, with a slight decline of 1.7% for the first six months, but operating losses were reduced by 68% in Q2 [17][18] Market Data and Key Metrics Changes - Incoming orders for Hooker branded and domestic upholstery increased by nearly 11% and 1.6% respectively during the quarter, with July orders up 24% year-over-year [21] - The home furnishings industry continues to face challenges from low existing home sales, elevated mortgage rates, and persistent inflation, affecting consumer confidence and demand [21] Company Strategy and Development Direction - The company is focused on cost reduction efforts, aiming to eliminate approximately $25 million, or 25% of fixed costs, with significant savings expected by the end of Q3 2026 [13][14] - A new Margaritaville license collection is set to launch in October, which is anticipated to enhance growth opportunities [10][21] - The company is adapting to tariff impacts by remerchandising products and evaluating pricing on a SKU-level basis [11][12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in returning to profitability through cost structure scaling and strategic growth initiatives, despite current macroeconomic challenges [7][9] - The company expects HMI's performance to improve significantly by the end of the fiscal year, barring additional tariffs or disruptive events [8][21] Other Important Information - The company reported $1.9 million in cash on hand, no outstanding amounts under its credit facility, and $67.9 million in available borrowing capacity [19] - The restructuring costs for the quarter totaled $2 million, with two-thirds attributed to cost of goods sold and one-third to selling and administrative expenses [30] Q&A Session Summary Question: What is driving the increased orders at Hooker branded and domestic upholstery? - Management noted subtle macro improvements at the retail level, with positive feedback from partners regarding Labor Day sales [26][27] Question: How can the company get the Home Meridian segment back to profitability? - Management indicated that achieving a 25% reduction in overhead costs by the end of Q3 is crucial for short-term profitability [28][29] Question: What is the breakdown of restructuring impacts on costs? - Approximately two-thirds of the restructuring costs were in cost of goods sold and one-third in SG&A [30] Question: Can you provide updates on the Margaritaville launch logistics and interest? - Management described the launch as a significant opportunity with positive early indicators from partners [37][38] Question: What are the expectations regarding price increases? - Management clarified that they are evaluating pricing on a SKU-by-SKU basis and have a clear understanding of the 20% tariff impact [39][41] Question: Will the additional $2 million in charges coincide with the Savannah warehouse exit? - Management confirmed that the charges are primarily related to the closing of the Savannah warehouse [42]

Financial Data and Key Metrics Changes - Consolidated net sales for Q2 2026 were $82.1 million, down $13 million, or 13.6% year-over-year, primarily due to declines at Home Meridian [4][5] - Consolidated operating loss was $4.4 million compared to $3.1 million in the prior year quarter, reflecting lower sales volume and unfavorable customer mix [4] - Consolidated net loss was $3.3 million, or $0.31 per share, with a six-month net loss of $6.3 million, or $0.60 per diluted share [4][5] Business Line Data and Key Metrics Changes - Hooker branded net sales increased by 1.3% year-over-year, reaching breakeven compared to a $329,000 loss in the same quarter last year [3][15] - Home Meridian net sales decreased by 44.5%, heavily impacted by tariff-related buying hesitancy and macroeconomic pressures [3][16] - Domestic upholstery segment's net sales were flat, with a slight decline of 1.7% for the first six months, but operating losses were reduced by 68% in Q2 [3][18] Market Data and Key Metrics Changes - The decline in Home Meridian was attributed to a loss of a major customer due to bankruptcy, accounting for about 25% of the sales decrease [4][16] - The hospitality business within Home Meridian saw a decline due to project timing, while traditional furniture channels faced macroeconomic pressures [3][16] Company Strategy and Development Direction - The company is focused on cost reduction efforts, aiming to eliminate approximately $25 million, or 25% of fixed costs, with significant savings expected by the end of Q3 2026 [13][14] - A new Margaritaville license collection is set to launch in October, which is anticipated to enhance growth opportunities [10][22] - The company is adapting to tariff impacts by evaluating pricing on a SKU-level basis and implementing mitigation strategies [11][12] Management's Comments on Operating Environment and Future Outlook - Management noted that the home furnishings industry is facing challenges from low existing home sales, elevated mortgage rates, and persistent inflation [21] - There is optimism regarding the upcoming cost structure changes and the potential for growth when market demand returns [8][22] - The company is confident that its restructuring efforts will not hinder growth or customer service capabilities [10][22] Other Important Information - The company reported a significant improvement in operational results at Hooker branded and domestic upholstery, despite ongoing challenges [9] - Incoming orders for Hooker branded and domestic upholstery increased by nearly 11% and 1.6%, respectively, indicating some positive momentum [21] Q&A Session Summary Question: What is driving the increased orders at Hooker branded and domestic upholstery? - Management indicated subtle macro improvements at the retail level, with positive feedback from partners regarding Labor Day sales [27] Question: How do you plan to return the Home Meridian segment to profitability? - Management emphasized the importance of aligning cost savings with revenue growth, particularly focusing on customer relationships [29] Question: What is the breakdown of restructuring costs for the quarter? - Approximately two-thirds of the restructuring costs were in cost of goods sold, and one-third in selling and administrative expenses [31]

Financial Data and Key Metrics Changes - Total net sales for the second quarter were $160.5 million, reflecting a year-over-year increase of 2.5% [5][33] - Gross margin decreased by 260 basis points to 56.4% of net sales compared to 59.0% in the prior year period, primarily due to increased transportation costs and higher promotional discounting [35][39] - Net loss for the quarter was $6.7 million, or negative $0.45 per common share, compared to a net loss of $5.9 million, or negative $0.38 per common share in the prior year period [39][41] Business Line Data and Key Metrics Changes - Sactionals net sales increased by 4.6%, while Sac net sales decreased by 22.5% [34] - Showroom net sales increased by $10.3 million, or 10.4%, driven by an increase in omnichannel comparable net sales [33] - Internet net sales decreased by $1.8 million, or 4.1% [33] Market Data and Key Metrics Changes - The overall furniture category is estimated to have declined approximately 4% for the comparable period, with the company gaining market share despite these headwinds [6][13] - Furniture spend was down 3.7% from May through July, with July showing the best performance of the three months [13] Company Strategy and Development Direction - The company is transitioning from a product-focused approach to a brand-focused strategy, with a brand evolution refresh underway [9][10] - The new product line, Snug by Lovesac, is positioned to capture a share of the $14 billion couch category and has been launched in over 100 showrooms [11][24] - The company aims to reach 3 million Lovesac households by 2030, focusing on long-term value creation and brand loyalty [17] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing challenges due to tariffs and competitive discounting but remains optimistic about market share gains and growth opportunities [15][16] - The company expects to mitigate tariff impacts through a four-point plan and anticipates a solid year of market share gains despite a declining category [16][33] - Future product launches and marketing strategies are expected to drive growth, with a focus on enhancing customer acquisition and brand awareness [19][20] Other Important Information - The company reported a healthy balance sheet with $34.2 million in cash and cash equivalents and no borrowings on its credit facility [39][40] - The exit from the Best Buy partnership was completed ahead of schedule and under budget, allowing for a more focused customer acquisition strategy [28] Q&A Session Summary Question: Anticipated changes to customer acquisition approach with brand evolution - Management indicated significant changes in marketing and customer acquisition strategies, with a focus on a new campaign featuring celebrity endorsements [48][49] Question: Partnerships for Snug by Lovesac - Management noted that Snug's simpler product design allows for potential distribution in non-Lovesac environments, emphasizing online sales as a primary channel [53][54] Question: Changes in EBITDA outlook - Management explained that increased tariffs and promotional activity have negatively impacted gross margins, leading to a revised EBITDA outlook [59][62] Question: Long-term growth outlook - Management confirmed that the long-term growth strategy remains intact despite current challenges, with plans to return to previous growth trajectories [70][71]

Financial Data and Key Metrics Changes - Total net sales for the second quarter were $160.5 million, reflecting a year-over-year increase of 2.5% [5][34] - Gross margin decreased by 260 basis points to 56.4% of net sales compared to 59.0% in the prior year period, primarily due to increased transportation costs and higher promotional discounting [36][39] - Net loss for the quarter was $6.7 million, or -$0.45 per common share, compared to a net loss of $5.9 million, or -$0.38 per common share in the prior year period [39][41] Business Line Data and Key Metrics Changes - Sactionals net sales increased by 4.6%, while Sac net sales decreased by 22.5% [35] - Showroom net sales increased by $10.3 million, or 10.4%, driven by an increase in omnichannel comparable net sales [34] - Internet net sales decreased by $1.8 million, or 4.1% [34] Market Data and Key Metrics Changes - The overall furniture category is estimated to have declined approximately 4% for the comparable period [6] - Furniture spend was down 3.7% from May through July, with July being the best month [13] Company Strategy and Development Direction - The company is transitioning from a product-focused approach to a brand-focused strategy, with a brand evolution refresh underway [9][10] - The new product line, Snugg by Lovesac, aims to capture the $14 billion couch category and has been launched in over 100 showrooms [11][24] - The company is focused on leveraging brand equity and expanding into new product categories while maintaining profitability [10][17] Management's Comments on Operating Environment and Future Outlook - Management noted ongoing headwinds in the furniture category but expressed confidence in achieving growth through strategic initiatives [5][16] - The company anticipates a full-year furniture category decline of mid-single digits but expects to grow net sales within its original guidance [14][41] - Management highlighted the importance of maintaining a strong balance sheet and flexibility to invest in growth despite external pressures [7][39] Other Important Information - The company has successfully exited its partnership with Best Buy ahead of schedule and under budget [28] - A four-point mitigation plan has been implemented to address tariff pressures, including cost management and manufacturing diversification [32][34] Q&A Session Summary Question: Anticipated changes to customer acquisition approach during brand evolution - Management indicated significant changes in brand and marketing strategies, including a new campaign for Snugg featuring a popular celebrity [48][49] Question: Partnerships or distribution strategies for Snugg - Management noted that Snugg's simpler product nature allows for potential partnerships outside of Lovesac-owned environments, with a focus on online sales [53][54] Question: Changes in EBITDA outlook due to tariffs and promotional activity - Management explained that increased tariffs and the need for higher promotional discounts have negatively impacted gross margins, leading to a revised EBITDA outlook [58][61] Question: Long-term growth outlook and product launches - Management confirmed that while there are exciting products to launch in the near term, significant new room launches are expected to take longer than initially anticipated [66][67] Question: Levers for expanding gross margins - Management discussed historical improvements in gross margins and outlined measures to return to high margin levels, despite current challenges [72][73]

Financial Performance - Hooker Furniture reported a quarterly loss of $0.31 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.12, representing an earnings surprise of -158.33% [1] - The company posted revenues of $82.15 million for the quarter ended July 2025, missing the Zacks Consensus Estimate by 9.89%, and down from $95.08 million a year ago [2] - Over the last four quarters, Hooker Furniture has not surpassed consensus EPS estimates and has topped revenue estimates only twice [2] Stock Performance - Hooker Furniture shares have declined approximately 21.6% since the beginning of the year, contrasting with the S&P 500's gain of 11.1% [3] - The current Zacks Rank for Hooker Furniture is 3 (Hold), indicating that the shares are expected to perform in line with the market in the near future [6] Future Outlook - The consensus EPS estimate for the upcoming quarter is $0.17 on revenues of $106.45 million, and for the current fiscal year, it is $0.13 on revenues of $394.6 million [7] - The outlook for the furniture industry is currently weak, with the Zacks Industry Rank placing it in the bottom 26% of over 250 Zacks industries, which may impact the stock's performance [8]

Core Insights - The Lovesac Company reported a 2.5% increase in net sales for Q2 FY26, reaching $160.5 million compared to $156.6 million in Q2 FY25, driven by a 0.9% rise in omni-channel comparable net sales and the addition of 16 new showrooms [1][9] - The company is transitioning from a product-focused entity to a brand-centric organization, refining its strategic roadmap to support growth as a multi-faceted home brand [2][9] - Despite facing category headwinds, the company maintains confidence in delivering long-term value and aims to become the most loved home brand in America [2] Financial Performance - Net sales for the thirteen weeks ended August 3, 2025, were $160.5 million, a 2.5% increase from $156.6 million in the prior year [3][9] - Gross profit decreased by $1.8 million, or 1.9%, with a gross margin of 56.4%, down from 59.0% in the prior year, primarily due to increased transportation costs and higher promotional discounting [3][9] - Operating loss for the quarter was $8.8 million, compared to a loss of $8.4 million in the prior year, resulting in an operating margin of (5.5)% [3][9] Operating Expenses - Total operating expenses decreased by 1.3% to $99.4 million, with SG&A expenses down 2.1% to $72.1 million [3][9] - Advertising and marketing expenses increased slightly by 0.7% to $23.5 million, driven by a new product marketing campaign [3][9] - The company recorded a net loss of $6.7 million for the quarter, or $(0.45) per share, compared to a net loss of $5.9 million, or $(0.38) per share, in the prior year [3][9] Year-to-Date Performance - For the year-to-date period ended August 3, 2025, net sales increased by 3.3% to $298.9 million, with a 1.4% rise in omni-channel comparable net sales [3][9] - Gross profit for the year-to-date period increased by $0.6 million, or 0.3%, but gross margin decreased to 55.2% from 56.8% due to higher promotional discounting [3][9] - The year-to-date net loss was $17.5 million, or $(1.19) per diluted share, an improvement from a loss of $18.8 million, or $(1.21) per diluted share, in the prior year [3][9] Cash Flow and Inventory - Cash and cash equivalents as of August 3, 2025, were $34.2 million, down from $72.1 million as of August 4, 2024 [16] - Total merchandise inventory increased to $124.0 million, up from $88.3 million, primarily due to a planned stock inventory increase [16]

Core Insights - Hooker Furnishings Corporation is focused on returning to profitability through cost-reduction initiatives and strategic growth plans in a challenging market environment [2][3][20] Financial Performance - For Q2 FY26, net sales were $82.1 million, a decrease of 13.6% year-over-year, with an operating loss of $4.4 million compared to a loss of $3.1 million in the previous year [6][30] - The company incurred restructuring costs of approximately $2 million in Q2, contributing to a net loss of $3.3 million [6][30] - Hooker Branded achieved breakeven results despite restructuring costs, while Domestic Upholstery reduced its operating loss by nearly 70% [3][6] Cost Reduction Initiatives - The company is implementing a multi-phase cost reduction strategy aimed at achieving approximately $25 million in annualized savings by FY27, with $10 million identified in FY25 and an additional $15 million in FY26 [5][10] - In the first half of FY26, the company achieved $3.7 million in expense reductions despite incurring $1.7 million in restructuring charges [5][6] Segment Performance - Hooker Branded sales increased by $465,000 (1.3% YoY) in Q2, while Domestic Upholstery's operating loss was reduced to $408,000 [6][14] - Home Meridian's net sales declined by $13.6 million (44.5% YoY) due to various factors including project-based hospitality business declines and customer bankruptcy impacts [6][14] Debt and Cash Management - The company repaid $16.5 million of debt year-to-date while maintaining $57.7 million in borrowing capacity [6][18] - Cash and cash equivalents decreased to $821,000, down $5.5 million from year-end, primarily due to operational cash outflows [18][19] Market Outlook - The home furnishings industry continues to face challenges from low existing home sales, elevated mortgage rates, and persistent inflation, impacting consumer confidence and demand [20] - The company is preparing for the launch of the Margaritaville collection and focusing on growth in hospitality and outdoor channels [20]

FITUEYES FITUEYES Concludes a Successful Showcase at IFA Berlin 2025 BERLIN, Sept. 10, 2025 (GLOBE NEWSWIRE) -- FITUEYES, the design-forward creator of iconic TV stands and audio-visual furniture, successfully wrapped up its participation at IFA Berlin 2025, marking a milestone in its mission to redefine home entertainment and lifestyle design. Over the five-day event, FITUEYES welcomed thousands of visitors, journalists, and global partners. Showcasing Design Without Boundaries Unlike traditional TV st ...

Core Insights - Dexelance reported a net loss of 7.8 million euros in the first half of 2025, a decline from a net profit of 1 million euros in the same period of 2024 [1] - Sales increased by 2.5 percent to 154.8 million euros for the six-month period ending June 30 [1] - The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) decreased to 10.4 million euros from 18.5 million euros in 2024 [3] Sales Performance - Growth was primarily driven by the luxury contract segment, which saw a year-on-year increase of 14.7 percent [2] - The luxury contract business, including Cenacchi International and Modar, has been a significant sales catalyst for several quarters [2] Financial Position - The net bank position of the company was reported at 17.1 million euros during the same period [1] - The decline in profitability was attributed to increased overhead costs due to investments in senior management, marketing, and digital expansion [3] Market Challenges - The ongoing macroeconomic situation and U.S. trade policies are viewed as major hurdles for the industry, particularly affecting residential brand sales in North America [5] - Despite challenges, the luxury contract business in North America remains strong due to limited competition [5] Tariff Impact - The company does not expect tariffs to significantly impact earnings, as costs will be absorbed by consumers and dealers, offset by the performance of its contract business globally [6] - A "custom tariffs" declaration was introduced on invoices to ensure transparency regarding the monetary impact of duties [6]

Company Performance - Virco Manufacturing Corporation (VIRC) reported quarterly earnings of $0.7 per share, missing the Zacks Consensus Estimate of $0.84 per share, and down from $1.04 per share a year ago, representing an earnings surprise of -16.67% [1] - The company posted revenues of $92.09 million for the quarter ended July 2025, missing the Zacks Consensus Estimate by 19.08%, and down from $108.42 million year-over-year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates only once and has not beaten consensus revenue estimates during the same period [2] Stock Performance - Virco Manufacturing shares have declined approximately 15.4% since the beginning of the year, contrasting with the S&P 500's gain of 10.6% [3] - The current consensus EPS estimate for the upcoming quarter is $0.47 on revenues of $85.9 million, and for the current fiscal year, it is $1.00 on revenues of $263.1 million [7] Industry Outlook - The Furniture industry, to which Virco belongs, is currently ranked in the bottom 15% of over 250 Zacks industries, indicating a challenging environment [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Virco's stock performance [5][6]