Noticias y eventos de Hooker Furnishings Corp (HOFT)HOFTHooker Furnishings Corp

Company Q2 Revenue Declines to $63.25M

Reports Q2 revenue $63.25M vs. $69.24M last year. "The significant costs we incurred due to the IEEPA tariffs significantly and adversely affected our prior-year results, and we are grateful to have recovered some of those costs in our fiscal 2027 second quarter," said Jeremy Hoff, Chief Executive Officer. "The substantial administrative burden these tariffs placed on our team over many months cannot be recovered. In addition to the tariffs paid, we incurred incremental costs associated with the IEEPA tariffs, including increased customs bond costs, legal and professional fees, financing and working-capital costs, and other administrative and supply-chain-related expenses."

Consumer Spending Weak, CEO Hoff Looks to Market Recovery

"Consumer spending is selective and housing turnover and big-ticket discretionary demand remain weak. The Department of Commerce's July advance monthly estimates showed retail sales for furniture and home furnishings stores were essentially flat sequentially from June and down 1.2% year-over-year. Existing home sales declined 1.7% month over month to a 4.1 million annualized rate, remaining at historically low levels. Additionally, consumer sentiment fell 6.3% in August and headline CPI remains elevated at 3.4%, although core inflation eased to 2.5%. All of these factors, not to mention increased financing costs, directly pressure discretionary purchasing power. Additionally, we continue to monitor tariff developments. Looking to the second half of fiscal 2027, we do not expect meaningful near-term improvement in market conditions. At the same time, the changes we have made to our cost structure and portfolio are delivering tangible benefits, and we believe they position us to deliver improved results compared with the prior-year period, even if current conditions persist. With the cost cutting efforts behind us, our focus is on disciplined execution across our core businesses and converting improving order momentum into sales. The actions taken over the past 18 to 24 months have created a leaner, more disciplined operating model that we believe can deliver stronger and more consistent earnings over time. We are also encouraged by the continued retailer response to Margaritaville, with commitments to approximately 100 in-store galleries and 10 free-standing retail stores to date, roughly double the level reported in December. Shipments began in the second quarter and are expected to build through the second half of fiscal 2027 and into fiscal 2028. Combined with continued momentum in incoming orders across our core businesses, we believe we are well positioned to capitalize on opportunities as demand recovers," CEO Hoff concluded.

U.S. Futures Rebound, Intel Price Target Raised to $135

Markets are looking to rebound this morning after two sessions of selling pressure, with futures higher across the major indexes. The catalyst is a combination of bargain-hunting in beaten-down technology shares. Nasdaq futures are leading the advance, reflecting renewed interest in AI and semiconductor names after a sharp pullback earlier this week.Wednesday's CPI report showed headline inflation accelerating to 4.2% year-over-year, driven largely by energy costs. Meanwhile, this morning's PPI report showed producer prices for final demand in the U.S. increased 1.1% month-over-month in May, the same as a downwardly revised 1.1% rise in April and once again above forecasts of 0.7%.In pre-market trading, S&P 500 futures rose 0.49%, Nasdaq futures rose 0.83% and Dow futures rose 0.54%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Intelup 4% after BofA double upgraded the stock to Buy from Underperform with a price target of $135, up from $96, citing higher confidence in Intel's opportunity to help address industry constraints in leading edge wafers and packagingViaSatup 4% after announcing it was awarded a prime contract by the U.S. Space Force's Space Systems Command to build, launch and deliver the first of a proliferated fleet of small, maneuverable geosynchronous Earth orbit satellitesVoyager Technologiesup 3% after BTIG initiated coverage of shares with a Buy rating and $55 price targetEatonup 2% after announcing it will separate and combine its Mobility Group with Danain a Reverse Morris Trust transaction creating a combined company valued at over $10BUP AFTER EARNINGS -Navanup 20%Hooker Furnitureup 17%Lovesacup 1%Stitch Fixup 1%DOWN AFTER EARNINGS -Oxford Industriesdown 10%Oracledown 10%Aurora Cannabisdown 6%LOWER -Danadown 7% after announcing Eatonwill separate and combine its Mobility Group with the company in a Reverse Morris Trust transaction