The firm announced earnings of $0.10 per share for the quarter, ahead of analyst projections of a loss of $0.04 per share and above the loss of $0.29 per share reported a year earlier.
The organization recorded quarterly sales of $69.45 million, compared with $85.32 million reported a year earlier. Analysts on average had expected revenue of $66.31 million.
For the first quarter of fiscal 2027, consolidated gross margin improved 440 basis points. Hooker Branded gross margin improved 960 basis points, while Domestic Upholstery gross margin decreased 80 basis points.
Hooker Branded net sales decreased $1.8 million, or 4.8 percent, and Domestic Upholstery net sales decreased $558,000, or 1.9 percent. All Other net sales increased $605,000, or 11.7 percent.
Jeremy Hoff, Chief Executive Officer, stated, “We are encouraged to report $1.1 million in consolidated net income for the quarter, a $4.1 million improvement over the prior-year first quarter. These improvements were achieved despite a challenging demand environment characterized by depressed housing activity and low consumer confidence.”
