Stonegate Updates Coverage on Hooker Furniture Corporation (HOFT) Q3 FY26 | HOFT Stock News
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Stonegate Capital Partners updated their coverage on Hooker Furniture Corporation (HOFT), highlighting a revenue decline of 32.2% year-over-year due to the sale of its HMI business segment. Despite this, Hooker Branded net sales and Domestic Upholstery showed growth. The sale improved gross margins to 25.6%, though profitability was affected by one-time impairment charges. Management is focused on overcoming macroeconomic challenges and returning to profitability. Stonegate provides capital markets advisory and investment banking services.
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