Hooker Furnishings Reports Q2 Revenue Decline, Plans Operational Improvements

Hooker Furnishings Corporation reported a challenging second quarter for fiscal 2026, with net sales declining 13.6% year-over-year to $82.1 million and an operating loss of $4.4 million, reflecting ongoing difficulties in the home furnishings market. Despite the losses, the company has implemented a multi-phase cost reduction strategy targeting $25 million in annual savings by fiscal 2027, which has already helped reduce operating expenses by $3.7 million in the first half of the fiscal year. Notably, the Domestic Upholstery segment reduced its operating loss by nearly 70%, and the Hooker Branded segment achieved breakeven results despite restructuring costs, signaling some operational improvements. CEO Jeremy Hoff emphasized that these initiatives position the company to maintain resilience and capture growth when demand returns, although the weak housing market and tariff-related uncertainties continue to impact performance. Hooker Furnishings also declared a quarterly cash dividend of $0.23 per share, demonstrating its commitment to returning value to shareholders amid financial challenges. Analysts maintain a neutral stance on the stock, acknowledging both the company’s cost-cutting progress and ongoing macroeconomic headwinds.