HOFT - Furniture Company Hooker Furnishings Beats On Q3 Despite Housing Market Slowdown; Aligns Inventory Levels With Current Demand | Benzinga

Hooker Furnishings Corp (NASDAQ: HOFT) reported a third-quarter FY24 sales decline of 22.9% year-on-year to $116.83 million, beating the analyst consensus estimate of $116.26 million.

The company attributed the revenue decrease to continued soft demand for home furnishings, as well as the company's exit from the Accentrics Home product line.

Net sales declined in each of the three segments versus the prior year period. Hooker Branded segment sales decreased 31%, Home Meridian declined 13.6%, and Domestic Upholstery plunged 25%.

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