Hooker Furnishings narrows Q1 net loss to $3.1M on cost savings; sales down 8.8%

HOOKER FURNISHINGS Corp

2026-Q1 EPS reported -$0.29 vs consensus $0.07 ▼ miss (-506.2%)

Net loss of $3.1M ($0.29/diluted share) vs. year-ago loss of $4.1M ($0.39); operating loss reduced 31% to $3.6M.
Revenue $85.3M, down 8.8%; Hooker Branded +0.8%, Home Meridian -28.8%, Domestic Upholstery -3.7%.
Gross margin improved 180 bps; operating expenses cut $2.2M including $523K restructuring costs.
Targeting $25M annualized cost savings by FY2027; expects $14M net savings in FY2026 from phased initiatives.
May legacy brand orders up ~33% YoY; Vietnam warehouse opened to cut lead times to 4–6 weeks.

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