HOOKER FURNISHINGS Corp Files Q3 2024 10-Q Report
Ticker: HOFT · Form: 10-Q · Filed: Dec 6, 2024 · CIK: 1077688
Sentiment: neutral
Topics: 10-Q, quarterly-report, furniture
TL;DR
HOFT filed its 10-Q for Q3 2024. All systems go.
AI Summary
HOOKER FURNISHINGS Corporation filed its 10-Q for the quarterly period ended October 27, 2024. The company, incorporated in Virginia with IRS number 54-0251350, reported its financial status. The filing details its operations in the household furniture sector, with its principal executive offices located in Martinsville, VA.
Why It Matters
This filing provides investors with an update on Hooker Furnishings' financial performance and operational status for the third quarter of fiscal year 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly report filing with no immediate red flags or significant negative news.
Key Players & Entities
- HOOKER FURNISHINGS Corporation (company) — Registrant
- October 27, 2024 (date) — Quarterly period end date
- Virginia (location) — State of incorporation
- 54-0251350 (identifier) — IRS Employer Identification Number
- Martinsville, VA (location) — Address of principal executive offices
FAQ
What is the exact period covered by this 10-Q filing?
This 10-Q report covers the quarterly period ended October 27, 2024.
What is the company's state of incorporation?
HOOKER FURNISHINGS CORPORATION is incorporated in Virginia.
What is the company's IRS Employer Identification Number?
The IRS Employer Identification Number for HOOKER FURNISHINGS CORPORATION is 54-0251350.
Where are the company's principal executive offices located?
The principal executive offices of HOOKER FURNISHINGS CORPORATION are located at 440 East Commonwealth Boulevard, Martinsville, VA 24112.
What is the company's SIC code?
The Standard Industrial Classification (SIC) code for HOOKER FURNISHINGS CORPORATION is 2510, which corresponds to Household Furniture.
Filing Stats: 4,564 words · 18 min read · ~15 pages · Grade level 16.7 · Accepted 2024-12-06 14:41:57
Filing Documents
- hoft20241027_10q.htm (10-Q) — 1805KB
- ex_754577.htm (EX-10.3) — 11KB
- ex_752897.htm (EX-31.1) — 9KB
- ex_752898.htm (EX-31.2) — 9KB
- ex_752899.htm (EX-32.1) — 6KB
- boa_logo.jpg (GRAPHIC) — 7KB
- 0001185185-24-001187.txt ( ) — 7326KB
- hoft-20241027.xsd (EX-101.SCH) — 42KB
- hoft-20241027_cal.xml (EX-101.CAL) — 48KB
- hoft-20241027_def.xml (EX-101.DEF) — 199KB
- hoft-20241027_lab.xml (EX-101.LAB) — 344KB
- hoft-20241027_pre.xml (EX-101.PRE) — 209KB
- hoft20241027_10q_htm.xml (XML) — 1369KB
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 20 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 October 27, January 28, 2024 2024 (unaudited) Assets Current assets Cash and cash equivalents $ 20,410 $ 43,159 Trade accounts receivable, net 51,773 51,280 Inventories 66,493 61,815 Income tax recoverable 3,005 3,014 Prepaid expenses and other current assets 9,038 5,530 Total current assets 150,719 164,798 Property, plant and equipment, net 28,524 29,142 Cash surrender value of life insurance policies 28,984 28,528 Deferred taxes 15,575 12,005 Operating leases right-of-use assets 47,435 50,801 Intangible assets, net 23,904 28,622 Goodwill 15,036 15,036 Other assets 16,687 14,654 Total non-current assets 176,145 178,788 Total assets $ 326,864 $ 343,586 Liabilities and Shareholders ' Equity Current liabilities Current portion of long-term debt $ 1,393 $ 1,393 Trade accounts payable 23,240 16,470 Accrued salaries, wages and benefits 6,937 7,400 Customer deposits 5,799 5,920 Current portion of operating lease liabilities 7,612 6,964 Other accrued expenses 2,785 3,262 Total current liabilities 47,766 41,409 Long term debt 20,553 21,481 Deferred compensation 6,989 7,418 Operating lease liabilities 42,785 46,414 Other long-term liabilities - 889 Total long-term liabilities 70,327 76,202 Total liabilities 118,093 117,611 Shareholders' equity Common stock, no par value, 20,000 shares authorized, 10,710 and 10,672 shares issued and outstanding on each date 50,026 49,524 Retained earnings 158,146 175,717 Accumulated other comprehensive income 599 734 Total shareholders' equity 208,771 225,975 Total liabilities and shareholders' equity $ 326,864 $ 343,586 The accompanying notes are an integral part of the unaudited condensed consolidated financial