Hooker Furnishings Files Q2 2024 10-Q Report
Ticker: HOFT · Form: 10-Q · Filed: Sep 6, 2024 · CIK: 1077688
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
**HOOKER FURNISHINGS (HOFT) FILED ITS LATEST 10-Q. CHECK FINANCIALS.**
AI Summary
Hooker Furnishings Corporation filed its 10-Q for the quarterly period ended July 28, 2024. The report details the company's financial performance and operations. Hooker Furnishings Corporation, incorporated in Virginia, is headquartered in Martinsville, VA.
Why It Matters
This filing provides investors and analysts with the latest financial data for Hooker Furnishings, crucial for understanding the company's current performance and future outlook in the household furniture sector.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing, not indicating any immediate or unusual risks.
Key Players & Entities
- HOOKER FURNISHINGS Corporation (company) — Registrant
- July 28, 2024 (date) — Quarterly period end date
- Virginia (location) — State of incorporation
- Martinsville, VA (location) — Principal executive offices location
- 276-632-2133 (phone_number) — Registrant's telephone number
FAQ
What is the exact fiscal year end for Hooker Furnishings Corporation?
The fiscal year end for Hooker Furnishings Corporation is January 31.
What is the SEC file number for Hooker Furnishings Corporation?
The SEC file number for Hooker Furnishings Corporation is 000-25349.
What is the SIC code for Hooker Furnishings Corporation?
The Standard Industrial Classification (SIC) code for Hooker Furnishings Corporation is 2510, for Household Furniture.
When was the company formerly known as HOOKER FURNITURE CORP?
The company was formerly known as HOOKER FURNITURE CORP and the date of name change was January 28, 1999.
What is the filing date of this 10-Q report?
This 10-Q report was filed on September 6, 2024.
Filing Stats: 4,594 words · 18 min read · ~15 pages · Grade level 15.7 · Accepted 2024-09-06 15:08:09
Key Financial Figures
- $15.0 million — it capital expenditures to no more than $15.0 million during any fiscal year. The Existing L
Filing Documents
- hoft20240728_10q.htm (10-Q) — 1789KB
- ex_721920.htm (EX-10.1) — 48KB
- ex_721921.htm (EX-10.2) — 36KB
- ex_721922.htm (EX-10.3) — 11KB
- ex_720907.htm (EX-31.1) — 9KB
- ex_720908.htm (EX-31.2) — 8KB
- ex_720909.htm (EX-32.1) — 6KB
- 0001185185-24-000870.txt ( ) — 7283KB
- hoft-20240728.xsd (EX-101.SCH) — 49KB
- hoft-20240728_cal.xml (EX-101.CAL) — 49KB
- hoft-20240728_def.xml (EX-101.DEF) — 195KB
- hoft-20240728_lab.xml (EX-101.LAB) — 364KB
- hoft-20240728_pre.xml (EX-101.PRE) — 194KB
- hoft20240728_10q_htm.xml (XML) — 1348KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION Item 1.
Financial Statements
Financial Statements 3 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 31 Item 4.
Controls and Procedures
Controls and Procedures 31
OTHER INFORMATION
PART II. OTHER INFORMATION Item 5. Other Information 32 Item 6. Exhibits 32 Signature 33
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements HOOKER FURNISHINGS CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) As of July 28, January 28, 2024 2024 (unaudited) Assets Current assets Cash and cash equivalents $ 42,050 $ 43,159 Trade accounts receivable, net 43,998 51,280 Inventories 57,099 61,815 Income tax recoverable 1,872 3,014 Prepaid expenses and other current assets 9,307 5,530 Total current assets 154,326 164,798 Property, plant and equipment, net 28,391 29,142 Cash surrender value of life insurance policies 29,408 28,528 Deferred taxes 13,970 12,005 Operating leases right-of-use assets 47,969 50,801 Intangible assets, net 26,774 28,622 Goodwill 15,036 15,036 Other assets 16,554 14,654 Total non-current assets 178,102 178,788 Total assets $ 332,428 $ 343,586 Liabilities and Shareholders ' Equity Current liabilities Current portion of long-term debt $ 22,177 $ 1,393 Trade accounts payable 19,915 16,470 Accrued salaries, wages and benefits 6,073 7,400 Customer deposits 8,715 5,920 Current portion of operating lease liabilities 7,327 6,964 Other accrued expenses 2,246 3,262 Total current liabilities 66,453 41,409 Long term debt - 21,481 Deferred compensation 7,132 7,418 Operating lease liabilities 43,504 46,414 Other long-term liabilities - 889 Total long-term liabilities 50,636 76,202 Total liabilities 117,089 117,611 Shareholders' equity Common stock, no par value, 20,000 shares authorized, 10,714 and 10,672 shares issued and outstanding on each date 49,950 49,524 Retained earnings 164,745 175,717 Accumulated other comprehensive income 644 734 Total shareholders' equity 215,339 225,975 Total liabilities and shareholders' equity $ 332,428 $ 343,586 The accompanying notes are an integral part of the unaudited condensed consolidated financial statemen