Hooker Furniture (HOFT) Surpasses Q3 Earnings Expectations
Earnings Performance: Hooker Furniture (HOFT) reported quarterly earnings of $0.39 per share, significantly surpassing the Zacks Consensus Estimate of a loss of $0.15 per share, marking a 360% earnings surprise compared to a loss of $0.20 per share a year ago.
Revenue Trends: The company posted revenues of $70.73 million for the quarter, missing the Zacks Consensus Estimate by 17.27% and down from $104.35 million year-over-year, with only one instance of surpassing revenue estimates in the last four quarters.
Stock Outlook: Hooker Furniture shares have declined by 22.2% since the start of the year, and the stock currently holds a Zacks Rank #5 (Strong Sell), indicating expectations of underperformance in the near future.
Industry Context: The furniture industry is currently ranked in the bottom 9% of Zacks industries, which may impact Hooker Furniture's stock performance, while another industry player, MillerKnoll, is set to report its earnings soon.
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MillerKnoll Named to Fortune's Most Admired Companies List for 2026
- Honor Recognition: MillerKnoll's inclusion in Fortune's 2026 Most Admired Companies list highlights its excellence in design innovation and corporate values, which is expected to enhance brand image and market competitiveness.
- Evaluation Criteria: The ranking is based on assessments by executives, directors, and analysts across nine criteria, including investment value and management quality, indicating MillerKnoll's leadership position and talent attraction capabilities within the industry.
- Continuous Innovation: The company has opened new flagship stores in London, New York, and Chicago, along with a 12,000-square-foot Archives facility showcasing over a million objects, reflecting its commitment to sustainable and transformative design, which is anticipated to drive future business growth.
- Future Development: In 2026, MillerKnoll plans to expand its retail footprint, accelerate innovation, and enhance the role of design in sustainability, aiming to create a more inspiring future and strengthen its market influence.
MillerKnoll Appoints Claire Spofford to Board, Enhancing Long-Term Growth Strategy
- New Board Member: MillerKnoll has appointed Claire Spofford to its Board of Directors, leveraging her over 30 years of retail experience and omnichannel strategy expertise to drive growth in both consumer and workplace contract segments.
- Brand Development Expertise: As former CEO of J. Jill, Spofford successfully strengthened margins and brand relevance, laying a solid foundation for MillerKnoll's long-term growth trajectory.
- Digital Transformation Leadership: During her tenure at Cornerstone Brands, Spofford evolved the business into a digitally driven platform that supported both e-commerce and physical retail, enhancing the brand's competitive positioning in the market.
- Board Structure Optimization: With Spofford's addition, MillerKnoll's Board now comprises 11 directors, 10 of whom are independent, further enhancing corporate governance and supporting the elevation of the brand portfolio and customer value creation.
MillerKnoll Appoints Claire Spofford to Board, Enhancing Growth Strategy
- New Board Member: MillerKnoll has appointed Claire Spofford to its Board of Directors, bringing over 30 years of retail experience, having successfully transformed J. Jill's business and enhanced brand relevance, laying the groundwork for long-term growth.
- Strategic Leadership: Spofford's tenure at Cornerstone Brands allowed her to evolve the business into a digitally driven platform that supports both e-commerce and physical retail, further strengthening MillerKnoll's competitive edge in omnichannel strategy.
- Board Structure Optimization: With Spofford's addition, MillerKnoll's Board now consists of 11 directors, 10 of whom are independent, optimizing governance to better support the company's growth and value creation across its global brand collective.
- Growth Vision: Spofford expressed her commitment to supporting MillerKnoll's growth strategy, particularly in the consumer retail and workplace contract segments, showcasing the company's ongoing dedication to combining innovation with modern design to create enduring value for customers and shareholders.
La-Z-Boy Expands Retail Network, Forecasts $2.65 EPS for 2026
- Retail Expansion: La-Z-Boy is enhancing its market scale and achieving immediate sales and profit growth by adding 15 new stores in the Southeast, demonstrating proactive positioning in a competitive furniture market.
- Portfolio Optimization: The company is focusing on its core North American upholstery business by exiting non-core operations, which is expected to lift margins and strengthen its competitive edge, particularly among younger consumers.
- Improving Sales Trends: La-Z-Boy is experiencing improving written sales trends and strong wholesale performance, which are anticipated to drive future revenue growth, despite overall furniture demand being impacted by a weak housing market.
- Earnings Forecast Upgrade: Analysts have raised their earnings estimate for La-Z-Boy's fiscal 2026 from $2.46 to $2.65 per share, reflecting market optimism regarding the company's future growth prospects.
Stock Market Update: S&P 500 and Nasdaq Futures Rise, Dow Also Up—Focus on Accenture, Micron Technologies, Nike, and FedEx (UPDATED)
Market Overview: U.S. stock futures are slightly up after a decline on Wednesday, with attention on the upcoming November Consumer Price Index report, which may influence market trends as the year ends.
Stock Performance: Notable premarket movements include Accenture down 3.11% despite beating earnings estimates, Micron Technology up 13.3% after a strong quarterly performance, and FedEx down 0.46% ahead of its earnings report.
Economic Indicators: Investors are awaiting initial jobless claims and the November CPI report, which will provide insights into inflation and economic health, alongside the Philadelphia Fed's manufacturing survey.
Global Market Trends: Asian markets closed mixed, with some indices in the green, while European markets opened higher. Crude oil prices increased slightly, and Bitcoin saw a 0.88% rise.
MillerKnoll Inc (MLKN) Q2 2026 Earnings Call Summary: Robust EPS and Retail Expansion Despite ...
Earnings Performance: MillerKnoll Inc reported adjusted EPS of $0.43, exceeding expectations, while consolidated net sales were $955 million, down 1.6% year over year, but first half sales increased by 4% to $1.9 billion.
Sales Segments: The global retail segment saw a 4.7% increase in sales, while North America contract segment sales decreased by 3.1%, and international contract sales fell by 6.3%.
Store Expansion Plans: The company opened 4 new retail locations in Q2 and plans to open 14 to 16 new stores for the full fiscal year, aiming to enhance brand awareness and product assortment.
Market Trends and Challenges: Demand in the public sector and pharma industries is softening, while the return-to-office trend is driving growth in the contract business; the company is also navigating costs related to new store openings and tariffs.
MillerKnoll Named to Fortune's Most Admired Companies List for 2026
- Honor Recognition: MillerKnoll's inclusion in Fortune's 2026 Most Admired Companies list highlights its excellence in design innovation and corporate values, which is expected to enhance brand image and market competitiveness.
- Evaluation Criteria: The ranking is based on assessments by executives, directors, and analysts across nine criteria, including investment value and management quality, indicating MillerKnoll's leadership position and talent attraction capabilities within the industry.
- Continuous Innovation: The company has opened new flagship stores in London, New York, and Chicago, along with a 12,000-square-foot Archives facility showcasing over a million objects, reflecting its commitment to sustainable and transformative design, which is anticipated to drive future business growth.
- Future Development: In 2026, MillerKnoll plans to expand its retail footprint, accelerate innovation, and enhance the role of design in sustainability, aiming to create a more inspiring future and strengthen its market influence.
MillerKnoll Appoints Claire Spofford to Board, Enhancing Long-Term Growth Strategy
- New Board Member: MillerKnoll has appointed Claire Spofford to its Board of Directors, leveraging her over 30 years of retail experience and omnichannel strategy expertise to drive growth in both consumer and workplace contract segments.
- Brand Development Expertise: As former CEO of J. Jill, Spofford successfully strengthened margins and brand relevance, laying a solid foundation for MillerKnoll's long-term growth trajectory.
- Digital Transformation Leadership: During her tenure at Cornerstone Brands, Spofford evolved the business into a digitally driven platform that supported both e-commerce and physical retail, enhancing the brand's competitive positioning in the market.
- Board Structure Optimization: With Spofford's addition, MillerKnoll's Board now comprises 11 directors, 10 of whom are independent, further enhancing corporate governance and supporting the elevation of the brand portfolio and customer value creation.
MillerKnoll Appoints Claire Spofford to Board, Enhancing Growth Strategy
- New Board Member: MillerKnoll has appointed Claire Spofford to its Board of Directors, bringing over 30 years of retail experience, having successfully transformed J. Jill's business and enhanced brand relevance, laying the groundwork for long-term growth.
- Strategic Leadership: Spofford's tenure at Cornerstone Brands allowed her to evolve the business into a digitally driven platform that supports both e-commerce and physical retail, further strengthening MillerKnoll's competitive edge in omnichannel strategy.
- Board Structure Optimization: With Spofford's addition, MillerKnoll's Board now consists of 11 directors, 10 of whom are independent, optimizing governance to better support the company's growth and value creation across its global brand collective.
- Growth Vision: Spofford expressed her commitment to supporting MillerKnoll's growth strategy, particularly in the consumer retail and workplace contract segments, showcasing the company's ongoing dedication to combining innovation with modern design to create enduring value for customers and shareholders.
La-Z-Boy Expands Retail Network, Forecasts $2.65 EPS for 2026
- Retail Expansion: La-Z-Boy is enhancing its market scale and achieving immediate sales and profit growth by adding 15 new stores in the Southeast, demonstrating proactive positioning in a competitive furniture market.
- Portfolio Optimization: The company is focusing on its core North American upholstery business by exiting non-core operations, which is expected to lift margins and strengthen its competitive edge, particularly among younger consumers.
- Improving Sales Trends: La-Z-Boy is experiencing improving written sales trends and strong wholesale performance, which are anticipated to drive future revenue growth, despite overall furniture demand being impacted by a weak housing market.
- Earnings Forecast Upgrade: Analysts have raised their earnings estimate for La-Z-Boy's fiscal 2026 from $2.46 to $2.65 per share, reflecting market optimism regarding the company's future growth prospects.
Stock Market Update: S&P 500 and Nasdaq Futures Rise, Dow Also Up—Focus on Accenture, Micron Technologies, Nike, and FedEx (UPDATED)
Market Overview: U.S. stock futures are slightly up after a decline on Wednesday, with attention on the upcoming November Consumer Price Index report, which may influence market trends as the year ends.
Stock Performance: Notable premarket movements include Accenture down 3.11% despite beating earnings estimates, Micron Technology up 13.3% after a strong quarterly performance, and FedEx down 0.46% ahead of its earnings report.
Economic Indicators: Investors are awaiting initial jobless claims and the November CPI report, which will provide insights into inflation and economic health, alongside the Philadelphia Fed's manufacturing survey.
Global Market Trends: Asian markets closed mixed, with some indices in the green, while European markets opened higher. Crude oil prices increased slightly, and Bitcoin saw a 0.88% rise.
MillerKnoll Inc (MLKN) Q2 2026 Earnings Call Summary: Robust EPS and Retail Expansion Despite ...
Earnings Performance: MillerKnoll Inc reported adjusted EPS of $0.43, exceeding expectations, while consolidated net sales were $955 million, down 1.6% year over year, but first half sales increased by 4% to $1.9 billion.
Sales Segments: The global retail segment saw a 4.7% increase in sales, while North America contract segment sales decreased by 3.1%, and international contract sales fell by 6.3%.
Store Expansion Plans: The company opened 4 new retail locations in Q2 and plans to open 14 to 16 new stores for the full fiscal year, aiming to enhance brand awareness and product assortment.
Market Trends and Challenges: Demand in the public sector and pharma industries is softening, while the return-to-office trend is driving growth in the contract business; the company is also navigating costs related to new store openings and tariffs.
