Hooker Furnishings Q1: Mixed Results, New $5M Share Buyback & More
Portfolio Pulse from Lekha Gupta
Hooker Furnishings Corp (NASDAQ:HOFT) reported a Q1 FY24 sales decline of 17.3% Y/Y to $121.82 million, missing consensus estimates. EPS of $0.13 beat analyst expectations. The company's board approved an additional $5 million share buyback authorization and declared a quarterly cash dividend of $0.22 per share.
June 08, 2023 | 12:33 pm
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Hooker Furnishings reported a Q1 sales decline but beat EPS estimates. The company announced a $5 million share buyback and a $0.22 quarterly dividend.
Hooker Furnishings reported mixed Q1 results with a sales decline but better-than-expected EPS. The announcement of a $5 million share buyback and a $0.22 quarterly dividend is likely to have a positive short-term impact on the stock price, as it signals confidence in the company's financial position and commitment to returning value to shareholders.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100