Q2 2026 Hooker Furnishings Corp Earnings Call Transcript
Key Points
- Hooker Branded net sales increased by 1.3% year-over-year, reaching breakeven compared to a loss in the same quarter last year.
- Domestic Upholstery reduced its operating loss by nearly 70%, showing progress in cost-reduction and restructuring initiatives.
- The company is on track to achieve $25 million in annualized cost savings by fiscal '27, with significant reductions in fixed costs.
- The new Vietnam fulfillment warehouse is reducing container lead times and creating new opportunities for product mixing, enhancing efficiency.
- The upcoming Margaritaville launch is expected to position the company well for future growth, with positive early indicators from partners.
- Home Meridian net sales declined by 44.5% due to tariff-related buying hesitancy and macroeconomic pressures.
- Consolidated net sales for the second quarter were down 13.6% from the same period last year, primarily due to declines at Home Meridian.
- The consolidated operating loss increased to $4.4 million, reflecting lower sales volume and unfavorable customer mix.
- The company recorded a consolidated net loss of $3.3 million or $0.31 per share for the quarter.
- The loss of a major customer due to bankruptcy accounted for about 25% of Home Meridian's sales decrease.
Good day. Thank you for standing by. Welcome to the Hooker Furnishings Corporation Second Quarter 2026 Earnings Webcast. (Operator Instructions) Please be advised that today's conference may be recorded.
I will now hand the conference over to your speaker host, Earl Armstrong, the company's CFO. Please go ahead, sir.
Thank you, Olivia, and good morning, everyone. Welcome to our quarterly conference call to review financial results for the fiscal 2026 second quarter which began May 5 and ended August 3, 2025.
Joining me this morning is Jeremy Hoff, our Chief Executive Officer. We appreciate your participation today.
During our call, we may make forward-looking statements, which are subject to risks and uncertainties. A discussion of factors that could cause our actual results to differ materially from management's expectations is contained in our press release and SEC filing announcing our fiscal 2026 second quarter results.
Any forward-looking statement
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