Hooker Furniture (HOFT) Misses Q2 EPS by 15c, Revenues Miss; 'Cautiously Optimistic About 2H'

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Go back to Hooker Furniture (HOFT) Misses Q2 EPS by 15c, Revenues Miss; 'Cautiously Optimistic About 2H'

Hooker Furniture Corporation Reports Second Quarter Sales and Earnings

September 5, 2019 6:00 AM EDT

MARTINSVILLE, Va., Sept. 05, 2019 (GLOBE NEWSWIRE) -- Hooker Furniture Corporation (NASDAQ-GS: HOFT) today reported consolidated net sales of $152.2 million and net income of $4.2 million, or $0.35 per diluted share, for its 2020 fiscal year second quarter ended August 4, 2019.

Net sales decreased 9.7%, or $16.4 million, compared to the prior year period, and net income decreased 52.1%, or $4.5 million. Earnings per diluted share for the quarter decreased 52.7% from $0.74 a year ago. 

For the fiscal 2020 first-half, consolidated net sales were $287.8 million, with net income of $6.1 million, or $0.52 per diluted share. Net sales decreased 7.6%, or $23.8 million... More