HOOKER FURNISHINGS Corp — Form 8-K

Hooker Furnishings (market cap ~$95M) reported Q2 FY2027 net income of $1.7M vs. loss of $3.3M YoY, driven primarily by $7.9M in tariff recoveries from IEEPA duties invalidated by U.S. Supreme Court in Feb 2026. Continuing operations recognized $4.3M tariff recovery in cost of sales plus $0.2M interest; discontinued ops added $1.0M; $1.8M was recorded as inventory reduction. Net sales declined 8.7% to $63.3M (tariff pressures from prior year), but gross margin expanded 450 bps to 31.8%. Consolidated backlog grew 6.2% YoY and 8.4% sequentially to $42.4M. Company repurchased 92,357 shares at avg $13.68/share ($1.3M) and paid $2.5M in dividends. Cash rose to $18.7M from $1.1M at FY2026 year-end; zero debt outstanding.