Hooker Furnishings Corporation reported a challenging fiscal year 2026, concluding on February 1, 2026, with net sales from continuing operations totaling $278.1 million, a decrease of 12.4% from $317.4 million in the previous fiscal year. The decline was primarily attributed to the divestiture of the Pulaski Furniture and Samuel Lawrence Furniture brands, which were classified as discontinued operations. The Hooker Branded segment saw a modest sales decrease of 2.9%, while the Domestic Upholstery segment's sales fell by 2.7%. The company recorded a net loss of $12.8 million, or $1.20 per diluted share, compared to a loss of $6.2 million, or $0.59 per diluted share, in fiscal 2025.
Significant operational changes included the divestiture of the underperforming Home Meridian segment, which was completed in December 2025 for approximately $5.5 million. This strategic decision was made in response to ongoing macroeconomic challenges, including inflation and reduced consumer spending, which had adversely affected the sales of the value-priced brands. The company also launched a new product line under the Margaritaville brand, with shipments expected to begin in the second half of fiscal 2027, aiming to enhance its market presence.
In terms of operational metrics, the company reported a consolidated order backlog of $43.9 million as of February 1, 2026, an increase of 20% from the previous year. This growth was driven by higher incoming orders in the Domestic Upholstery segment, particularly from the Shenandoah and Samuel Lawrence Hospitality divisions. The company maintained a workforce of 840 employees, with a focus on improving operational efficiency and reducing costs, which contributed to a decrease in selling and administrative expenses by 14.2% year-over-year.
Looking ahead, Hooker Furnishings anticipates continued challenges in the macroeconomic environment, particularly in the housing market and consumer confidence. However, the company believes that its streamlined operations and focus on core brands will position it for improved performance in the future. The management is optimistic about the potential recovery in sales, contingent on market conditions, and is committed to enhancing shareholder value through strategic investments and cost management initiatives.
About HOOKER FURNISHINGS Corp
Hooker Furnishings Corporation designs, markets, and imports residential, hospitality, and contract furniture, including casegoods, upholstered, leather, and outdoor products. Operating through segments like Hooker Branded, Home Meridian, and Domestic Upholstery, it serves retailers, interior designers, and commercial clients primarily in the U.S. The company emphasizes design diversity, value, and supply chain diversification, leveraging imported and domestic manufacturing to deliver quality furnishings across various market segments.
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