$HOFT

HOOKER FURNITURE CORP

CIK:0001077688|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2026	Aug. 03, 2025	Aug. 02, 2026	Aug. 03, 2025
Income Statement [Abstract]
Net sales	$ 63,250	$ 69,243	$ 132,702	$ 140,427
Cost of sales	43,151	52,001	92,011	105,250
Gross profit	20,099	17,242	40,691	35,177
Selling and administrative expenses	18,272	17,127	36,741	34,894
Intangible asset amortization	544	625	1,089	1,292
Operating income / (loss)	1,283	(510)	2,861	(1,009)
Other income, net	376	22	349	120
Interest expense, net	116	171	237	549
Income / (Loss) from continuing operations before income taxes	1,543	(659)	2,973	(1,438)
Income tax expense / (benefit)	338	(114)	664	(278)
Net income / (loss) from continuing operations	1,205	(545)	2,309	(1,160)
Net income / (loss) from discontinued operations, net of taxes	465	(2,732)	422	(5,169)
Net income / (loss)	$ 1,670	$ (3,277)	$ 2,731	$ (6,329)
Basic:
Earnings / (Loss) from continuing operations per share (in Dollars per share)	$ 0.12	$ (0.06)	$ 0.21	$ (0.11)
Earnings / (Loss) from discontinued operations per share (in Dollars per share)	0.04	(0.25)	0.04	(0.49)
Basic earnings / (loss) per share (in Dollars per share)	0.16	(0.31)	0.25	(0.6)
Diluted:
Earnings / (Loss) from continuing operations per share (in Dollars per share)	0.11	(0.06)	0.21	(0.11)
Earnings / (Loss) from discontinued operations per share (in Dollars per share)	0.04	(0.25)	0.04	(0.49)
Diluted loss per share (in Dollars per share)	$ 0.15	$ (0.31)	$ 0.25	$ (0.6)
Weighted average shares outstanding:
Basic (in Shares)	10,644,000	10,612,000	10,644,000	10,587,000
Diluted (in Shares)	10,760,000	10,612,000	10,774,000	10,587,000
Cash dividends declared per share (in Dollars per share)	$ 0.115	$ 0.23	$ 0.23	$ 0.46

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Aug. 02, 2026	Aug. 03, 2025
Operating Activities:
Net income / (loss)	$ 2,731	$ (6,329)
Less: Income / (Loss) from discontinued operations, net of taxes	422	(5,169)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,629	3,499
Deferred income tax expense / (benefit)	645	(1,990)
Noncash restricted stock and performance awards	408	144
Provision for / (benefit from) doubtful accounts and sales allowances	193	(182)
Gain on life insurance policies	(874)	(724)
Loss on disposal of assets	7	15
Changes in assets and liabilities:
Trade accounts receivable	10,706	13,008
Inventories	5,270	10,225
Income tax recoverable	30	482
Prepaid expenses and other assets	(787)	(2,563)
Trade accounts payable	584	(1,284)
Accrued salaries, wages, and benefits	1,153	614
Accrued income taxes	(47)	(16)
Customer deposits	1,144	1,125
Operating lease assets and liabilities	5	124
Other accrued expenses	106	38
Deferred compensation	(444)	(431)
Net cash provided by operating activities	24,037	20,924
Investing Activities:
Purchases of property and equipment	(1,094)	(1,570)
Premiums paid on life insurance policies	(325)	(326)
Proceeds received on life insurance policies	540	0
Proceeds from sales of assets	6	0
Net cash used in investing activities	(873)	(1,896)
Financing Activities:
Proceeds from revolving credit facility	3,216	32,440
Payments for long-term loans	(6,770)	(48,956)
Cash dividends paid	(2,486)	(5,011)
Purchase and retirement of common stock	(1,265)	0
Debt issuance costs	0	(33)
Net cash used in financing activities	(7,305)	(21,560)
Discontinued Operations
Cash provided by / (used in) operating activities	1,689	(2,818)
Cash used in investing activities	0	(124)
Cash provided by / (used in) discontinued operations	1,689	(2,942)
Net Increase / (decrease) in cash and cash equivalents	17,548	(5,474)
Cash and cash equivalents - beginning of year	1,112	6,295
Cash and cash equivalents - end of quarter	18,660	821
Supplemental schedule of cash flow information:
Income taxes paid / (refund), net	35	(443)
Interest paid, net	6	609
Supplemental schedule of noncash investing activities:
Increase in lease liabilities arising from obtaining right-of-use assets	1,799	10
Increase in property and equipment through accrued purchases	$ 41	$ 152

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 02, 2026	Feb. 01, 2026
Current assets
Cash and cash equivalents	$ 18,660	$ 1,112
Trade accounts receivable, net	26,275	37,786
Inventories	43,414	48,684
Income tax recoverable	0	30
Prepaid expenses and other current assets	5,729	5,283
Total current assets	94,078	92,895
Property, plant and equipment, net	22,181	25,207
Cash surrender value of life insurance policies	31,491	30,422
Deferred taxes	24,305	24,941
Operating leases right-of-use assets	22,051	23,015
Intangible assets, net	11,905	12,994
Goodwill	575	575
Other assets	17,856	15,842
Total non-current assets	130,364	132,996
Total assets	224,442	225,891
Current liabilities
Trade accounts payable	12,180	11,002
Accrued salaries, wages and benefits	4,882	3,730
Accrued income taxes	117	42
Customer deposits	6,435	5,291
Current portion of operating lease liabilities	5,089	5,445
Other accrued expenses	2,327	2,083
Total current liabilities	31,030	27,593
Long term debt	0	3,223
Deferred compensation	5,960	6,365
Operating lease liabilities	18,865	19,468
Total long-term liabilities	24,825	29,056
Total liabilities	55,855	56,649
Shareholders’ equity
Common stock, no par value, 20,000 shares authorized,10,727 and 10,764 shares issued and outstanding on each date	51,311	51,361
Retained earnings	117,028	117,603
Accumulated other comprehensive income	248	278
Total shareholders’ equity	168,587	169,242
Total liabilities and shareholders’ equity	$ 224,442	$ 225,891