Research Desk Line-up: American Woodmark Post Earnings Coverage
LONDON, UK / ACCESSWIRE / September 1, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Hooker Furniture Corp. (NASDAQ: HOFT), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=HOFT. The Company announced on August 29, 2017, that it is increasing the number of Directors to its Board of Directors from 7 to 9 through the addition of Paulette Garafalo, a senior executive in luxury consumer products retailing, and Tonya Jackson, a senior operations executive with expertise in supply chain management and international sourcing. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Discover more of our free reports coverage from other companies within the Home Furnishings & Fixtures industry. Pro-TD has currently selected American Woodmark Corporation (NASDAQ: AMWD) for due-diligence and potential coverage as the Company announced on August 22, 2017, its financial results for Q1 FY18 which ended on July 31, 2017. Tune in to our site to register for a free membership, and be among the early birds that get our report on American Woodmark when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on HOFT; also brushing on AMWD. Go directly to your stock of interest and access today's free coverage at:
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Comments from Chairman and CEO
Paul B. Toms, Chairman and Chief Executive Officer at Hooker Furniture, expressed his pleasure to get Paulette Garafalo and Tonya Jackson on the Board. He believes they have strong skill sets and in-depth experience in areas, which are key for developing strategies to ensure long-term success.
Toms shared that Hooker plans to have a turnover on the Board over the next 5 years. He said that the Company is aiming at reconstituting the Board proactively while maintaining and adding pertinent skill sets. Paulette Garafalo and Tonya Jackson are expected to join the Board of Hooker Furniture for its second quarter Board of Directors meeting on September 06 -07, 2017.
Paulette Garafalo to Bring in Luxury Retailing Experience
Currently, Paulette Garafalo is the CEO of men and women's classic apparel retailer Paul Stuart in New York. Prior to that, she served as the Division President or CEO of Brooks Brothers, Bally of Switzerland and Hickey Freeman. Paul B. Toms trusts that Paulette would bring to the Board her marketing knowledge, along with her in-depth experience in all areas of retail and luxury consumer brands. His experience in serving higher-end consumers would be helpful throughout the enterprise, particularly in Hooker Legacy Brands (i.e. Hooker Furniture, Sam Moore and Bradington-Young), as they are positioned in the upper price points.
Similarly, Paulette Garafalo was excited to join Hooker Furniture's Board. She stated that she had worked with admired and respected American brands throughout her career and she is proud to join another great American brand like Hooker Furniture.
Tonya Jackson to Get in Operational Experience
Currently, Tonya Jackson is Vice President - Global Supply Chain Operations for Lexmark in Lexington, Kentucky. She spent her career at IBM and Lexmark wherein she gained substantial experience in operations and supply chain management. Paul B. Toms commented that the competitive edge of Hooker Furniture is based on its international sourcing and in ensuring that the right products are available in the right place at the right time. Thus, he expects Tonya's perspective and knowledge to help across all businesses.
On the other hand, Tonya Jackson expressed that she is impressed with Hooker Furniture's reputation for fine craftsmanship, as well as its dedication to employees, customers, and partners. She stated that she is honored to join the Board and looks forward to working with fellow Board members as well as the leadership team.
Hooker Furniture Declares Quarterly Dividend
The Hooker Furniture's Board of Directors declared a quarterly cash dividend of $0.12 per share on August 29, 2017. The dividend would be payable on September 29, 2017, to shareholders of record at September 15, 2017.
About Hooker Furniture Corporation
Hooker Furniture was incorporated in 1924 and has now become one of the most respected furniture brands in the world. Hooker Furniture, based in Martinsville, Virginia, is an importer of residential wood and metal furniture and a manufacturer and importer of upholstered furniture. Major wood furniture categories include bedroom, dining, accent, home entertainment, and home office furniture in the upper-medium price points sold under the Hooker Furniture brand.
Last Close Stock Review
On Thursday, August 31, 2017, the stock closed the trading session at $40.25, climbing 1.26% from its previous closing price of $39.75. A total volume of 33.15 thousand shares have exchanged hands. Hooker Furniture's stock price skyrocketed 21.60% in the past six months and 73.04% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 6.06%. The stock is trading at a PE ratio of 16.96 and has a dividend yield of 1.19%. At Thursday's closing price, the stock's net capitalization stands at $467.71 million.
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