The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Anthony Lebiedzinski - Sidoti & Co LLC - Analyst
: Good morning, Jeremy. Good morning, Earl. Thank you for taking the questions. So it's really nice to see the sales improvements at Hooker Branded
and HMI. I know you guys talked about the HMI benefiting from strong hospitality sales. Just wondering if you could further comment on the
Hooker Branded, whether you're seeing any additional traction from some new collections?
Maybe just give some more insight into what drove the unit volume increase at Hooker Branded? And I would love to get your take on what you're
seeing so far in Q1 as you now have only about two weeks left in the first quarter.
Question: Anthony Lebiedzinski - Sidoti & Co LLC - Analyst
: Okay. Okay. And then as far as Domestic Upholstery, so I know you guys said that, that was down. As far as -- given the tariff announcements two
weeks ago, just wondering how you guys think about the opportunities there as some retailers look to perhaps shift their sources to domestic
manufacturing. Just wondering how you guys think about the potential opportunity for Domestic Upholstery?
Question: Anthony Lebiedzinski - Sidoti & Co LLC - Analyst
: Got you. Okay. And then as far as HMI, so obviously, you guys have done a nice job there repositioning that business. Gross margin was up nicely.
I suppose that the tariffs now added wrinkle.
But just thinking about like how do you think the gross margins in that segment will go from here?
And then just a separate question on the backlog for HMI. I know there's been a lot of changes to that business over the last couple of years with
product lines changing and sales channels. So I guess on a like-to-like basis, what would be the backlog if you strip out all the noise in terms of the
changes, how would that compare to pre-pandemic levels for the backlog?
Question: Anthony Lebiedzinski - Sidoti & Co LLC - Analyst
: Understood. Okay. Well, thank you very much and best of luck.
Question: David Storms - Stonegate Capital Partners - Analyst
: Good morning and thank you for taking my questions. Just wanted to start with the current 90-day tariff pause. Does this open up an ability or
give you any desire to be maybe a little more nimble and continue to do a strategic inventory build?
Question: David Storms - Stonegate Capital Partners - Analyst
: Understood. Very helpful. And then I also just wanted to talk, you mentioned a couple of times in the prepared remarks, the press release mentioned
it. Just the strong market share gain you've had over the last year. Any main drivers to really look at this and additionally going forward, the ability
to keep growing at this 3 to 15 basis points pace?
Question: David Storms - Stonegate Capital Partners - Analyst
: Understood. That's great color. Thank you. And then maybe just one more modeling question. With the new cost savings announced and the
anticipation that they will be fully up and running by fiscal 2027, any sense of the pacing for this? Is it going to be gradual until then or fits and
starts? Any color there would be great.
Question: David Storms - Stonegate Capital Partners - Analyst
: Yeah. Apologies. Just around the pacing of the cost savings plan to 2027, should we expect a gradual --
Question: David Storms - Stonegate Capital Partners - Analyst
: Yes, yes.
Question: David Storms - Stonegate Capital Partners - Analyst
: That's very helpful. Thank you for taking my questions and good luck.
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APRIL 17, 2025 / 1:00PM, HOFT.OQ - Q4 2025 Hooker Furnishings Corp Earnings Call
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