Earnings ·
Hooker Furnishings reports $1.7M net income boosted by $7.9M tariff recoveries
HOFTHOOKER FURNISHINGS Corp
Hooker Furnishings reported fiscal 2027 second-quarter net income of $1.7 million ($0.15 diluted EPS), a significant improvement from the prior-year loss of $3.3 million. Consolidated net sales decreased 8.7% to $63.3 million, while operating income turned positive at $1.3 million compared to a $0.5 million loss previously. The results were heavily influenced by $7.9 million in tariff recoveries received following a U.S. Supreme Court ruling invalidating certain IEEPA tariffs; without these recoveries, the company would have reported lower profitability. Cash and cash equivalents rose to $18.7 million as proceeds from tariff refunds and collections funded debt repayment, share repurchases, and dividends. The company operates in the home furnishings industry, designing, marketing, and importing casegoods, upholstery, lighting, and accessories for residential and hospitality markets.