Hooker Furniture CEO says ‘largely’ mitigated the tariff impact

“More than 40% of our net sales come from products produced or assembled domestically, which meaningfully reduces our exposure. In addition, the tariff environment has largely stabilized, with a 20% tariff on casegoods imports from Vietnam and a 30% lumber tariff on all imported upholstered furniture taking effect on November 1,” Hoff said. “In addition, since tariffs disproportionately affected the more value-priced HMI lines that are held for sale, the divestiture will be beneficial in mitigating current or future tariffs. Coupled with targeted pricing actions and strong vendor partnerships, we have largely mitigated the tariff impact, and we believe our imported upholstery now benefits from a competitive advantage over those importing from other regions.”