HOOKER FURNITURE CORPORATION (NASDAQ:HOFT) Files An 8-K Regulation FD DisclosureItem 7.01. Regulation FD Disclosure.
The Company continually monitors its reportable segments for changes in facts and circumstances to determine whether changes in the identification or aggregation of operating segments are necessary. In the fourth quarter of fiscal 2018 and as reported in our fiscal 2018 results filed with our Annual Report on Form 10-K filed on April 13, 2018, the Company updated its reportable segments as follows: Hooker Upholstery was aggregated with Hooker Casegoods and reported as the Hooker Branded segment. The domestic upholstery operations of Shenandoah Furniture, Sam Moore and Bradington-Young were moved into All Other with Company’s H Contract business and the remains on the Company’s Homeware division, which was shuttered in fiscal 2018. The Home Meridian segment remains unchanged.
The Company is furnishing quarterly operating results for these new reportable segments and All Other for each of the fiscal quarterly periods in fiscal 2018 and fiscal 2017 in Exhibit 99.1 attached hereto. These results are furnished by the Company to Item 7.01 of Form 8-K and will not be deemed to be “filed” for the purposes of Section18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor will it be deemed to be incorporated by reference in any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing. Further the update of the reportable segments has no impact on the Company’s previously reported consolidated statements of income, balance sheets, statements of comprehensive income, statements of cash flows and statements of shareholders equity.
The information contained in Exhibit 99.1 is summary information that is intended to be considered in the context of the Company’s filings with the Securities and Exchange Commission (“SEC”) and other public announcements that the Company may make from time to time, by press release or otherwise. The Company undertakes no duty or obligation to publicly update or revise the information contained in this report, although it may do so from time to time as its management believes is warranted. Any such updating may be made through the filing of other reports or documents with the SEC, through press releases or through other public disclosure.
Item 7.01. Financial Statements and Exhibits.
(d)Exhibits
HOOKER FURNITURE CORP ExhibitEX-99.1 2 ex99-1.htm EX-99.1 Exhibit 99.1 Fiscal 2018 Thirteen Weeks Ended (UNAUDITED) April 30,…To view the full exhibit click here
About HOOKER FURNITURE CORPORATION (NASDAQ:HOFT)
Hooker Furniture Corporation is a home furnishings marketing, design and logistics company offering sourcing of residential casegoods and upholstery, as well as domestically-produced leather and fabric-upholstered furniture. The Company operates through three segments: casegoods furniture, upholstered furniture and all other. The Company’s casegoods product categories include accents, home office, dining, bedroom and home entertainment furniture under the Hooker Furniture brand. Its residential upholstered seating companies include Bradington-Young, which is engaged in upscale motion and stationary leather furniture, and Sam Moore Furniture, which is engaged in upscale occasional chairs, settees, sofas and sectional seating with a focus on cover-to-frame customization. It also markets a line of imported leather upholstery under the Hooker Upholstery trade name. All other segment operates under the H Contract and Homeware brands.