Top-Line Beat, Bottom-Line Miss, Inflationary Pressures: Hooker Furnishings' Mixed Q1 Results
Hooker Furnishings Corp (NASDAQ:HOFT) reported a first-quarter FY23 sales decline of 9.5% year-on-year to $147.3 million, beating the consensus of $145.35 million. Net sales from Hooker Branded segment decreased by 17.7% Y/Y, Home Meridian declined 26.4%, and Domestic Upholstery gained 62.2%. The gross profit rose 12.3% Y/Y to $29.5 million, and the margin…
Benzinga ·
Benzinga
