Hooker Branded Achieves Breakeven
The Hooker Branded segment broke even this quarter despite $655,000 in restructuring charges, compared to a $329,000 loss in the same quarter last year.
Reduction in Operating Losses
Domestic upholstery reduced its operating loss nearly 70%, and Hooker Branded and Domestic Upholstery had a $1,200,000 improvement in operational results, despite $800,000 in restructuring costs.
Cost Reduction Achievements
The company is on track to achieve $25,000,000 in annualized cost savings beginning in fiscal 2027, with a significant portion of savings in warehousing, distribution, and administrative expenses.
Increase in Incoming Orders
Incoming orders grew by nearly 11% during the quarter for Hooker Branded, and Domestic Upholstery orders were up by 1.6%.
Positive Outlook on New Initiatives
The upcoming Margaritaville launch and the new Vietnam fulfillment warehouse are expected to provide strategic growth opportunities and improve logistics.