Hooker returns to profit with help from tariff recoveries
Hooker Furnishings ($HOFT) reported second-quarter operating income of $1.3 million and net income of $1.7 million, returning to profitability despite an 8.7% decline in sales. Order backlog increased 6.2% from a year earlier. The company ended the quarter with $18.7 million in cash and no outstanding term debt. Tariff recoveries were an important contributor. Hooker received $7.9 million, including approximately $4.3 million recognized as a reduction in continuing-operations cost of sales; othe
0