HOFT - Hooker Furniture GAAP EPS of $0.13 beats by $0.02 revenue of $121.82M in-line

2023-06-08 06:18:02 ET

• Hooker Furniture press release ( NASDAQ: HOFT ): Q1 GAAP EPS of $0.13 beats by $0.02 .
• Revenue of $121.82M (-17.3% Y/Y) in-line.
• An expected revenue reduction was driven by a 32.5% sales decrease in the Home Meridian (HMI) segment and, to a lesser extent, a 14.8% decrease in first quarter year-over-year Domestic Upholstery sales. Net sales in the Hooker Branded segment remained relatively unchanged.
• The company approved an additional $5 million authorization as part of our capital allocation plan for this year.

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