Hooker Furnishings Q4 net sales up 8% to $104.5M but posts net loss of $2.3M; announces additional cost savings

HOOKER FURNISHINGS Corp

Q4 net loss of $2.3M ($0.22 diluted loss) vs net income of $593K ($0.06) in prior-year Q4.
Q4 operating loss of $2.7M, compared to operating income of $340K last year; charges of $3.1M.
Full-year net loss of $12.5M ($1.19) on sales of $397.5M, down 8.3% YoY.
Additional annualized cost savings of $8-10M announced; total expected savings of $18-20M by FY2027.
Hooker Branded Q4 orders up 15% YoY; Home Meridian gross margin highest since 2016.

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