Hooker Furnishings Corporation HOFT has collaborated with the global lifestyle brand, Margaritaville, to launch an extensive line of home furnishings.
This partnership will help the company leverage the renowned brand position of Margaritaville in the international market and expand its market reach to a new customer base.
HOFT stock lost 1.1% during trading hours on Monday post the announcement.
HOFT’s Partnership in Detail
The anticipated product offerings from the announced partnership will include a range of indoor and outdoor furnishings such as case goods, upholstery, lighting and accessories for the residential, contract and hospitality markets. The extensive line of offerings will span across various price points and categories.
Per the agreement, the prominent Margaritaville brand, along with Latitude and Island Reserve by Margaritaville, will be creating and offering tiered product differentiation that fits well with Hooker Furnishings’ versatile brand portfolio.
The entire extensive line of products, including indoor and outdoor home collections, is planned to launch in October 2025 at the company’s Showplace showroom in High Point, NC. Furthermore, plans to explore hospitality and commercial opportunities by offering furnishing options for Margaritaville’s branded real estate properties and communities are in progress.
Hooker Furnishings’ Price Performance
Shares of this designer, marketer and importer of case goods have gained 26.4% in the past three months compared with the Zacks Furniture industry’s 35.1% growth. The company’s prospects are hindered by the weak market conditions and increased cost and expense structure. Nonetheless, its strategic investments in sales channels, people, systems and products are likely to foster its long-term success.
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Furthermore, the growth prospect is solidified with a VGM Score of A, backed by Growth and Momentum Scores of A. The positive trend signifies bullish analysts’ sentiments, robust fundamentals and prospects of an outperformance in the near term.
HOFT’s Zacks Rank & Key Picks
Hooker Furnishings currently carries a Zacks Rank #5 (Strong Sell).
Here are some better-ranked stocks from the Consumer Discretionary sector.
Atour Lifestyle Holdings Limited ATAT currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ATAT has a trailing four-quarter earnings surprise of 9.1%, on average. The stock has risen 63.3% in the past year. The Zacks Consensus Estimate for ATAT’s 2024 sales and earnings per share (EPS) indicates growth of 49.5% and 32.6%, respectively, from the year-ago levels.
DoubleDown Interactive Co., Ltd. DDI currently sports a Zacks Rank of 1. DDI has a trailing four-quarter earnings surprise of 22.1%, on average. The stock has surged 89.2% in the past year.
The Zacks Consensus Estimate for DDI’s 2024 sales and EPS indicates an increase of 12.6% and 15.8%, respectively, from the year-ago levels.
Norwegian Cruise Line Holdings Ltd. NCLH presently sports a Zacks Rank of 1. NCLH has a trailing four-quarter earnings surprise of 5.7%, on average. The stock has gained 24.5% in the past year.
The Zacks Consensus Estimate for NCLH’s 2024 sales and EPS indicates an increase of 9.9% and 127.1%, respectively, from the year-ago levels.
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