Hooker Furnishings rise on higher Q4 sales, cost-saving plans

Shares of retailer Hooker Furnishings HOFT.O up 8.3% at $8.20 premarket

Company's Q4 net sales increase 21.7% to $104.5 million

Posts net loss of $2.3 million, or 22 cents per share, compared with a profit of $593 million, or 6 cents per share, a year ago

CEO Jeremy Hoff says the planned exit of Savannah warehouse is expected to save $4 million to $7 million annually beginning in fiscal 2027

"While macroeconomic headwinds, including a weak housing market, lower consumer confidence and tariff uncertainty, persist, we remain focused on what we can control" - CEO

As of last close, HOFT shares down 46% YTD