Hooker Furnishings Corporation is a designer, marketer, and importer of home furnishings, specializing in diverse product segments to meet various consumer demands while facing economic challenges.

# Hooker Furnishings Corporation Overview

## Company Profile
- **Founded**: 1924
- **Headquarters**: Martinsville, Virginia
- **Business Type**: Designer, marketer, and importer of home furnishings
- **Segments**:
  - Hooker Branded
  - Home Meridian
  - Domestic Upholstery
  - All Other

## Products
Hooker Furnishings specializes in a wide range of home furnishings, including:
- **Casegoods**: Wooden and metal furniture for living rooms, bedrooms, dining areas, and offices.
- **Upholstered Furniture**: Including leather and fabric-upholstered products.
- **Accessories and Decor**: Lighting, home accessories, and other decorative items for residential and hospitality markets.
- **Custom Manufacturing**: Premium residential custom leather and fabric-upholstered furniture, as well as outdoor furniture.

## Financials
- **Revenue**:
  - **Fiscal Year 2025**: $397.5 million
  - **Fiscal Year 2024**: $433.2 million
  - **Fiscal Year 2023**: $583.1 million
- **Net Loss**:
  - **Fiscal Year 2025**: $12.5 million
  - **Fiscal Year 2024**: Net income of $9.9 million
  - **Fiscal Year 2023**: Net loss of $4.3 million

## Customer and Market Presence
- **Customers**: Sells to various retailers including independent furniture stores, department stores, mass merchants, national chains, catalog merchants, interior designers, and e-commerce retailers.
- **Top Customers**: No single customer accounts for more than 7% of sales; however, the top five customers together account for about 24% of total sales.
- **International Sales**: Less than 2% of sales are to international customers, defined as sales outside of the U.S. and Canada.

## Employees
- **Total Employees**: 1,034 as of February 2, 2025
  - Hooker Branded: 233 employees
  - Home Meridian: 173 employees
  - Domestic Upholstery: 623 employees
  - All Other: 5 employees
- **Geographic Distribution**: 
  - 895 employees in the United States
  - 139 employees in Asia

## Operations
- **Manufacturing and Warehousing**: Operates production facilities across Virginia, North Carolina, Georgia, and California.
- **Importing**: Approximately 71% of products sourced from overseas, mainly from countries like Vietnam and China.

## Recent Developments
- **Restructuring Initiatives**: The company has exited unprofitable segments and is consolidating warehouse facilities to reduce operational costs and increase profitability.
- **New Partnerships**: Significant milestones include licensing agreements and strategic growth initiatives to enhance market presence.

Hooker Furnishings Corporation leverages a blend of traditional craftsmanship with modern design to fulfill diverse consumer demands in the home furnishings industry while navigating economic challenges and shifting market conditions.

Hooker Furnishings Corporation is a designer, marketer, and importer of a wide variety of furniture and home decor products, specializing in both domestic manufacturing and imported goods.

# Hooker Furnishings Corporation Overview

### Company Profile
- **Incorporation Year:** 1924
- **Headquarters:** Virginia, USA
- **Employees:** 1,203 full-time employees (as of January 28, 2024)

### Business Activity
Hooker Furnishings Corporation is a designer, marketer, and importer of various types of furniture and home decor. Its product offerings include:
- **Casegoods** (wooden and metal furniture)
- **Upholstered furniture** (both leather and fabric)
- **Lighting and home decor accessories**
- **Hospitality furnishings**
- **Contract furniture**

The company also engages in domestic manufacturing, specializing in:
- **Premium residential custom leather**
- **Custom fabric-upholstered furniture**
- **Outdoor furniture**

### Reportable Segments
Hooker Furnishings Corporation is organized into three main reportable segments, plus "All Other":
1. **Hooker Branded**
   - **Hooker Casegoods:** A range of furniture including home entertainment, home office, accent, dining, and bedroom furniture, primarily in the upper-medium price point.
   - **Hooker Upholstery:** Imported upholstered furniture targeted at the upper-medium price range.
   
2. **Home Meridian**
   - **Pulaski Furniture:** Casegoods across various design categories at medium price points.
   - **Samuel Lawrence Furniture:** Value-conscious offerings for bedroom, dining, home office, and youth furnishings.
   - **Prime Resources International:** Imported leather motion upholstery at value-conscious prices.
   - **Samuel Lawrence Hospitality:** Designer and supplier of hotel furnishings targeted toward upscale hotels.

3. **Domestic Upholstery**
   - **Bradington-Young:** Upscale motion and stationary leather furniture specialist.
   - **HF Custom:** Fashion-forward custom upholstery.
   - **Shenandoah Furniture:** Specializes in private label upholstered furniture.
   - **Sunset West:** Designer and manufacturer of high-quality outdoor furniture.

4. **All Other**
   - **H Contract:** Upholstered seating and casegoods for senior living facilities.
   - **BOBO Intriguing Objects:** A source of unique lighting and home decor acquired in fiscal 2024.
   - **Lifestyle Brands:** A newer initiative targeted at the interior designer channel.

### Financial Overview (Fiscal 2024)
- **Net Sales:** Approximately $____ (exact figure not provided in the text)
- **Revenue**: Revenue specifics were not disclosed but the company monitors sales closely through customer orders and backlog.
- **Top Customers:** 
  - No single customer accounted for more than 6% of total sales.
  - The top five customers collectively accounted for about 22% of total sales.

### Customer Base
- **Sales Channels:** Products are sold through various retailers including:
  - Independent furniture stores
  - Department stores
  - Mass merchants
  - National chains
  - Catalog merchants
  - Interior designers
  - E-commerce retailers
- **International Sales:** Less than 2% of sales were to international customers, defined as outside the U.S. and Canada.

### Additional Information
- **Sourcing:** Approximately 70% to 82% of net sales comprised imported products, with a significant portion sourced from Asian manufacturers, particularly Vietnam.
- **Environmental Commitment:** The company focuses on sustainability, including reducing carbon footprints through renewable energy initiatives and ongoing environmental stewardship efforts.
- **Competitive Landscape:** The furniture industry is competitive, with numerous domestic and foreign manufacturers. Key competitive factors include price, style, availability, quality, and service.
  
### Conclusion
Hooker Furnishings Corporation is a prominent player in the home furnishings industry, with a diverse range of products and segments, a significant domestic manufacturing presence, and an increasing focus on sustainability.

HOOKER FURNISHINGS Corp

10-K / April 18, 2025

10-K / April 12, 2024

10-K / April 18, 2025

Hooker Furnishings Corporation Overview

Company Profile

Products

Financials

Customer and Market Presence

Employees

Operations

Recent Developments