BUZZ-Hooker Furnishings slides on weak Q3 results

Reuters
2024-12-05

** Retailer Hooker Furnishings' shares down nearly 11% at $16.06

** Co reports Q3 net loss of $4.1 million or 39 cents per share, compared with last year's profit of $7 million or 65 cents per share

** Q3 net sales fell 10% to $104.4 million

** HOFT says results suffered from low demand and $7.5 million in charges in restructuring and bankruptcy of a customer

** CEO Jeremy Hoff says positive developments in macro environment such as rate cuts and cooling inflation should begin to increase demand for furnishings

** Co stock down 31.29% YTD as of last close

(Reporting by Aamir Sohail in Bengaluru)

((Aamir.Sohail@thomsonreuters.com;))

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