---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-23-002313"
form_type: "8-K"
ticker: "HOFT"
cik: "0001077688"
company_name: "HOOKER FURNISHINGS Corp"
filed_at: "2023-04-17T23:59:59+00:00"
generated_at: "2026-06-17T01:13:26.169297+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Hooker Furnishings reports fiscal 2023 net loss of $4.3M, revenue down 1.8% to $583.1M

## Summary
- Fiscal 2023 net loss $4.3M ($0.37/diluted) vs prior year net income $11.7M; operating loss $6.0M.
- Includes $24.4M non-cash charge for exit of Accentrics Home line; Home Meridian sales down 22.4% YoY.
- Domestic Upholstery segment sales up 46.7% YoY; Hooker Branded segment essentially flat YoY.
- Company expects Home Meridian segment to return to profitability by 2H fiscal 2024; targeting $12M+ overhead reduction.
- Cash at year-end $19M, down $50.4M; used $13.3M for share repurchases and $9.6M dividends during fiscal 2023.

## SEC filing metadata
- accession: 0001171843-23-002313
- form_type: 8-K
- ticker: HOFT
- cik: 0001077688
- company_name: HOOKER FURNISHINGS Corp
- filed_at: 2023-04-17T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1077688/000117184323002313/0001171843-23-002313-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1077688/000117184323002313/f8k_041523.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-23-002313
- JSON: https://secwatch.observer/filing/0001171843-23-002313.json
- Plain text: https://secwatch.observer/filing/0001171843-23-002313.txt

## Key facts
- Earnings Releases
  HOOKER FURNISHINGS Corp reported fiscal-year 2023 fourth quarter and full year ended January 29, 2023 results: revenue $583.1 million, net income consolidated net loss of $4.3 million or ($0.37) per diluted share, EPS ($0.37) per diluted share.
  - Period: fiscal-year 2023 fourth quarter and full year ended January 29, 2023
  - Revenue: $583.1 million
  - Net income: consolidated net loss of $4.3 million or ($0.37) per diluted share
  - EPS: ($0.37) per diluted share
  - Result: reported results
  source text: Consolidated net sales for fiscal 2023 were $583.1 million, a decrease of $10.5 million, or 1.8%, compared to the prior year, driven by a $62.6 million or 22.4% net sales decline in the Home Meridian segment, while partially offset by a $49.9 million or 46.7% higher net sales in the Domestic Upholstery segment, marking the second consecutive year of double-digit sales gains at Bradington-Young, HF Custom (formerly Sam Moore Furniture) and Shenandoah. The addition of Sunset West results for the full year also significantly contributed to the annual sales growth in this segment. Hooker Branded net sales were essentially flat compared to the record sales achieved in fiscal 2022 in the segment. The Company recorded a $24.4 million non-cash charge related to its exit of the Accentrics Home (ACH) line of lower-priced, low-margin accent items, for the write down of ACH inventories and other excess inventories in the Home Meridian segment. The charge was initially expected to be $34 million, b
  evidence_url: https://www.sec.gov/Archives/edgar/data/1077688/000117184323002313/0001171843-23-002313-index.htm
- Earnings Releases
  HOOKER FURNISHINGS Corp reported fiscal 2023 fourth quarter ended January 29, 2023 results: net income net loss of $17.9 million or ($1.60) per diluted share, EPS ($1.60) per diluted share.
  - Period: fiscal 2023 fourth quarter ended January 29, 2023
  - Net income: net loss of $17.9 million or ($1.60) per diluted share
  - EPS: ($1.60) per diluted share
  - Result: reported results
  source text: The Company reported a fourth-quarter operating loss of $23.7 million and net loss of $17.9 million or ($1.60) per diluted share, driven by the $24.4 million inventory valuation charge recorded in the fourth quarter of fiscal 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1077688/000117184323002313/0001171843-23-002313-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.