Hooker Furnishings had a mixed second quarter, as a slow housing market continued to weigh on sales, while tariffs and cost-cutting helped boost profit.

The furniture company on Friday posted a swing to a profit of $1.7 million, or 15 cents a share, compared with a loss of $3.3 million, or 31 cents a share, a year earlier. Analysts polled by FactSet were expecting a loss of 2 cents a share.

Revenue fell 8.7% to $63.3 million. Analysts surveyed by FactSet forecast revenue of $63.8 million.

Hooker branded sales decreased 4.5%, reflecting lower unit volume, more promotions and key products going out of stock. Domestic upholstery sales fell 5.3% due to lower sales of upscale leather and custom fabric upholstery.

Tariffs have made a serious dent in Hooker's financials over the past year, along with associated expenses including bond costs, legal and professional fees, and other supply-chain related needs.

The company received $7.9 million in tariff refunds during the quarter, $4.3 million of which was recognized as a reduction of cost of sales. Hooker has also reduced costs to create $17.5 million in annualized savings, which were implemented across its operations in the prior year.

The savings were important because the furniture demand environment is still challenged, Chief Executive Jeremy Hoff said.

Stagnant homebuying activity continues to put a damper on furniture buying, and Hooker increased promotions to try to win back customers. There were also softer summer shipments to brick-and-mortar shops. Those factors pressured margins in the quarter, Hoff said.

Hoff expects promotions to normalize in the second half of the year, but said sluggish housing turnover is likely to continue to be a problem for Hooker.

"Consumer spending is selective and housing turnover and big-ticket discretionary demand remain weak," Hoff said.

"With the cost cutting efforts behind us, our focus is on disciplined execution across our core businesses and converting improving order momentum into sales."