Hooker Furnishings Reports $6.0 Million Net Sales Decline in Q2 2027

Hooker Furnishings Corporation announced operating results for its fiscal 2027 second quarter ended August 2, 2026. Consolidated net sales decreased by $6.0 million compared to the prior year period, representing an 8.7% decline. The company attributed this pressure to ongoing economic challenges and tariff-related factors affecting pricing dynamics. Prior to the current period, Hooker incurred an estimated $10.3 million in cumulative pre-tax costs related to tariffs during fiscal 2026. These costs arose because U.S. Customs and Border Protection initially collected duties based on International Emergency Economic Powers Act rulings that were later found invalid by the Supreme Court in February 2026. The company refunded those duties starting in March 2026 but could not recover the pre-paid amounts before that time. Management noted that following the tariff imposition in April 2025, the firm chose to honor pricing on its existing customer backlog rather than immediately adjusting prices for other products.