HOFT - Why Hooker Furnishings Shares Are Diving Today? | Benzinga
Hooker Furnishings Corp (NASDAQ: HOFT) shares are trading lower by over 13% after the company reported worse-than-expected results.
The company reported a Q2 FY24 sales decline of 36% Y/Y to $97.8 million, missing the consensus of $134.75 million.
Revenue was impacted by lower demand for home furnishings and the company's planned divestiture of unprofitable operations in the Home Meridian segment.
Net sales from the Hooker Branded segment decreased by 34.3% Y/Y, Home Meridian declined by ...