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Hooker Furnishings (HOFT) investor relations material
Hooker Furnishings Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 FY26 consolidated net sales were $82.1M, down 13.6% year-over-year, mainly due to a 44.5% decline at Home Meridian from macro pressures, tariffs, and a major customer bankruptcy.
Consolidated net loss for Q2 was $3.3M ($0.31 per share); six-month net loss was $6.3M ($0.60 per share).
Multi-phase cost reduction plan targets $25M in annualized savings by FY27, with $3.7M realized in H1 FY26 and $2M in restructuring costs in Q2.
Hooker Branded achieved breakeven, and Domestic Upholstery reduced operating loss by nearly 70% year-over-year, reflecting efficiency gains.
Order momentum: Q2 orders up 11% at Hooker Branded and 2% at Domestic Upholstery; backlog up 7% year-over-year.
Financial highlights
Q2 gross profit was $16.8M (20.5% margin), down from $20.9M (22.0%) year-over-year; six-month gross profit was $35.8M (21.4% margin).
Q2 operating loss was $4.4M, up from $3.1M last year; six-month operating loss was $8.0M.
Cash flow from operations was $18.1M in H1 FY26; cash and equivalents at $821K, with $5.6M in outstanding loans and $57.7M in credit availability.
Inventory reduced from $70.8M at year-end to $58.5M at quarter-end.
Dividend maintained at $0.23 per share in Q2.
Outlook and guidance
Cost reduction initiatives are expected to yield $25M in annualized savings by FY27, with $15M in FY26; further $2M in restructuring charges anticipated in H2 FY26.
HMI's fixed cost structure expected to be aligned for sustainable business by end of Q3 2026, with most cost reductions in place.
Management expects improved performance at Home Meridian by year-end, barring new tariffs or disruptive events.
Focus remains on cost control, new product launches (Margaritaville), and leveraging the Vietnam warehouse for growth and efficiency.
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