Hooker Furniture slides on lackluster Q1 results
Shares of Hooker Furniture Corp. (Nasdaq:HOFT) are slipping in pre-market trading after the furniture retailer reported a decline in first-quarter results after Tuesday’s close hurt by a difficult retail environment.
Net income declined 29%, while revenues slid 8% in the quarter. The retailer also warned of continued lackluster operating conditions going forward due to the languid macroeconomic environment.
Shares slipped 13%, or $2.72, to $17.70 in pre-market trading. For detailed price information and recent news stories about Hooker Furniture, click HOFT.
