HOOKER FURNISHINGS Corp 8-K filed 2026-09-11

Hooker Furnishings Corp (HOFT, Nasdaq) filed this 8-K on 2026-09-11 under Item 2.02, Results of Operations and Financial Condition. It attaches a press release dated September 11, 2026 as Exhibit 99.1, reporting results for the fiscal 2027 second quarter ended August 2, 2026. Chief Financial Officer C. Earl Armstrong III signed the filing. The main item is tariff recoveries. The company received $7.9 million during the quarter after the U.S. Supreme Court ruled in February 2026 that certain IEEPA tariffs were not authorized by statute. Continuing operations recognized approximately $4.3 million as a reduction of cost of sales and $0.2 million of related interest income. Approximately $0.5 million of customer credits, recorded as a reduction of revenue, partially offset those amounts. Discontinued operations recognized approximately $1.0 million of net pre-tax benefit. Approximately $1.8 million was recorded as a reduction in inventory carrying values. The company says it incurred an estimated $10.3 million of cumulative pre-tax tariff costs in fiscal year 2026, which significantly exceeded these recoveries. It does not expect to receive material additional tariff recoveries. Sales remained weak. Consolidated net sales decreased by $6.0 million, or 8.7%, in the second quarter and by $7.7 million, or 5.5%, in the first six months. Hooker Branded net sales declined 4.5% and 4.6% over the same periods. Domestic Upholstery gross margin increased by 450 basis points in the quarter and 180 basis points in the first six months. Operating income was $1.3 million for the quarter and $2.9 million for the first six months, compared with operating losses of $0.5 million and $1.0 million in the prior-year periods. Consolidated backlog increased by 6.2% from the prior-year second-quarter end and by 8.4% from the end of the first quarter. Several figures a reader would want are not in the filing excerpt. These include net income, earnings per share, absolute net sales totals, the dollar value of backlog, segment operating income figures and any forward guidance. The full press release at the source link may contain the financial tables.