Hooker 2Q: EPS Jumps +37% to $0.49
Hooker Furniture (NYSE: HOFT) reported very strong results for Q2 (ended July), with EPS jumping +37% YoY to $0.49, which was in-line with our $0.50-$0.60 expected range published in our Initial Note on Seeking Alpha (dated August 11, 2020 with a then HOFT price $22.13), but, importantly, much higher than the Bloomberg consensus estimate of $0.34. EPS thus beat consensus Wall Street estimates by a huge 41%. HOFT delivered strong earnings despite about half of this quarter (first 1.5 months thru mid-May) being severely impacted by Covid-19.