0001185185-21-001265 | 10-Q | XBRL Viewer

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Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Aug. 01, 2021	Sep. 03, 2021
Document Information Line Items
Entity Registrant Name	HOOKER FURNITURE CORPORATION
Trading Symbol	HOFT
Document Type	10-Q
Current Fiscal Year End Date	--01-31
Entity Common Stock, Shares Outstanding		11,923,986
Amendment Flag	false
Entity Central Index Key	0001077688
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Aug. 01, 2021
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Entity File Number	000-25349
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	54-0251350
Entity Address, Address Line One	440 East Commonwealth Boulevard
Entity Address, City or Town	Martinsville
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	24112
City Area Code	276
Local Phone Number	632-2133
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, no par value
Security Exchange Name	NASDAQ
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 01, 2021	Jan. 31, 2021
Current assets
Cash and cash equivalents	$ 37,411	$ 65,841
Trade accounts receivable, net	98,294	83,290
Inventories	103,595	70,159
Prepaid expenses and other current assets	7,783	4,432
Total current assets	247,083	223,722
Property, plant and equipment, net	27,965	26,780
Cash surrender value of life insurance policies	26,332	25,365
Deferred taxes	12,504	14,173
Operating leases right-of-use assets	26,176	34,613
Intangible assets, net	25,045	26,237
Goodwill	490	490
Other assets	2,413	893
Total non-current assets	120,925	128,551
Total assets	368,008	352,273
Current liabilities
Trade accounts payable	40,685	32,213
Accrued salaries, wages and benefits	6,979	7,136
Income tax accrual	917	501
Customer deposits	7,557	4,256
Current portion of lease liabilities	5,942	6,650
Other accrued expenses	2,848	3,354
Total current liabilities	64,928	54,110
Deferred compensation	10,848	11,219
Lease liabilities	21,801	29,441
Total long-term liabilities	32,649	40,660
Total liabilities	97,577	94,770
Shareholders’ equity
Common stock, no par value, 20,000 shares authorized, 11,924 and 11,888 shares issued and outstanding on each date	53,473	53,323
Retained earnings	217,613	204,988
Accumulated other comprehensive loss	(655)	(808)
Total shareholders’ equity	270,431	257,503
Total liabilities and shareholders’ equity	$ 368,008	$ 352,273

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - shares shares in Thousands	Aug. 01, 2021	Jan. 31, 2021
Statement of Financial Position [Abstract]
Common stock, shares authorized	20,000	20,000
Common stock, shares issued	11,924	11,888
Common stock, shares outstanding	11,924	11,888

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Income Statement [Abstract]
Net sales	$ 162,519	$ 130,537	$ 325,379	$ 235,134
Cost of sales	130,802	103,537	260,080	189,480
Gross profit	31,717	27,000	65,299	45,654
Selling and administrative expenses	21,460	18,892	42,204	38,070
Goodwill impairment charges	0	0	0	39,568
Trade name impairment charges	0	0	0	4,750
Intangible asset amortization	596	596	1,192	1,192
Operating income/(loss)	9,661	7,512	21,903	(37,926)
Other income/(expense), net	21	(10)	27	(51)
Interest expense, net	23	118	54	327
Income/(loss) before income taxes	9,659	7,384	21,876	(38,304)
Income tax expense/(benefit)	2,192	1,610	4,966	(9,259)
Net income/(loss)	$ 7,467	$ 5,774	$ 16,910	$ (29,045)
Earnings/(loss) per share
Basic (in Dollars per share)	$ 0.63	$ 0.49	$ 1.42	$ (2.46)
Diluted (in Dollars per share)	$ 0.62	$ 0.48	$ 1.40	$ (2.46)
Weighted average shares outstanding:
Basic (in Shares)	11,850	11,824	11,842	11,811
Diluted (in Shares)	11,993	11,853	11,985	11,811
Cash dividends declared per share (in Dollars per share)	$ 0.18	$ 0.16	$ 0.36	$ 0.32

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Statement of Comprehensive Income [Abstract]
Net Income/(Loss)	$ 7,467	$ 5,774	$ 16,910	$ (29,045)
Amortization of actuarial loss	100	84	201	168
Income tax effect on amortization	(24)	(20)	(48)	(40)
Adjustments to net periodic benefit cost	76	64	153	128
Total Comprehensive Income/(Loss)	$ 7,543	$ 5,838	$ 17,063	$ (28,917)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Aug. 01, 2021	Aug. 02, 2020
Operating Activities:
Net income/(loss)	$ 16,910	$ (29,045)
Adjustments to reconcile net income to net cash provided by operating activities:
Goodwill and intangible asset impairment charges	0	44,318
Depreciation and amortization	3,583	3,365
Deferred income tax expense/(benefit)	1,621	(10,665)
Noncash restricted stock and performance awards	150	1,046
Provision for doubtful accounts and sales allowances	(340)	3,396
Gain on life insurance policies	(704)	(651)
Changes in assets and liabilities:
Trade accounts receivable	(14,663)	17,142
Inventories	(33,435)	25,106
Income tax recoverable	0	751
Prepaid expenses and other current assets	(4,663)	(1,261)
Trade accounts payable	8,362	(1,391)
Accrued salaries, wages, and benefits	(158)	(726)
Accrued income taxes	417	975
Customer deposits	3,302	977
Operating lease liabilities	89	678
Other accrued expenses	(507)	(867)
Deferred compensation	(171)	20
Net cash (used in)/provided by operating activities	(20,207)	53,168
Investing Activities:
Purchases of property and equipment	(3,465)	(484)
Premiums paid on life insurance policies	(473)	(453)
Proceeds received on life insurance policies	0	673
Net cash used in investing activities	(3,938)	(264)
Financing Activities:
Cash dividends paid	(4,285)	(3,796)
Payments for long-term debt	0	(2,929)
Cash used in financing activities	(4,285)	(6,725)
Net (decrease)/increase in cash and cash equivalents	(28,430)	46,179
Cash and cash equivalents - beginning of year	65,841	36,031
Cash and cash equivalents - end of quarter	37,411	82,210
Supplemental disclosure of cash flow information:
Cash paid for income taxes	2,929	220
Cash paid for interest, net	1	295
Non-cash transactions:
Decrease in lease liabilities arising from changes in right-of-use assets	(4,919)	(1,987)
Increase in property and equipment through accrued purchases	$ 111	$ 41

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Feb. 02, 2020	$ 51,582	$ 223,252	$ (713)	$ 274,121
Balance (in Shares) at Feb. 02, 2020	11,838
Net income (loss)		(29,045)		(29,045)
Unrealized gain loss on defined benefit plan, net of tax			128	128
Cash dividends paid and accrued		(3,796)		(3,796)
Restricted stock grants, net of forfeitures	$ 169			169
Restricted stock grants, net of forfeitures (in Shares)	52
Restricted stock compensation cost	$ 442			442
Performance-based restricted stock units costs	435			435
Balance at Aug. 02, 2020	$ 52,628	190,411	(585)	242,454
Balance (in Shares) at Aug. 02, 2020	11,890
Balance at Jan. 31, 2021	$ 53,323	204,988	(808)	$ 257,503
Balance (in Shares) at Jan. 31, 2021	11,888			11,888
Net income (loss)		16,910		$ 16,910
Unrealized gain loss on defined benefit plan, net of tax			153	153
Cash dividends paid and accrued		(4,285)		(4,285)
Restricted stock grants, net of forfeitures (in Shares)	36
Restricted stock compensation cost	$ 597			597
Performance-based restricted stock units costs	293			293
PSU awards	(740)			(740)
Balance at Aug. 01, 2021	$ 53,473	$ 217,613	$ (655)	$ 270,431
Balance (in Shares) at Aug. 01, 2021	11,924			11,924

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parentheticals) - USD ($) $ in Thousands	6 Months Ended
	Aug. 01, 2021	Aug. 02, 2020
Statement of Stockholders' Equity [Abstract]
Unrealized gain loss on defined benefit plan, tax	$ 48	$ 40
Cash dividends paid and accrued, per share	$ 0.18	$ 0.16

Preparation of Interim Financial Statements

6 Months Ended

Aug. 01, 2021

Accounting Policies [Abstract]

Business Description and Basis of Presentation [Text Block]

1. Preparation of Interim Financial Statements

The condensed consolidated financial statements of Hooker Furniture Corporation and subsidiaries (referred to as “we,” “us,” “our,” “Hooker” or the “Company”) have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, these statements include all adjustments necessary for a fair statement of the results of all interim periods reported herein. All such adjustments are of a normal recurring nature. Certain information and footnote disclosures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) are condensed or omitted pursuant to SEC rules and regulations. However, we believe that the disclosures made are adequate for a fair presentation of our results of operations and financial position. These financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our annual report on Form 10-K for the fiscal year ended January 31, 2021 (“2021 Annual Report”). The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect both the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from our estimates. Operating results for the interim periods reported herein may not be indicative of the results expected for the fiscal year.

The financial statements contained herein are being filed as part of a quarterly report on Form 10-Q covering the 2022 fiscal year thirteen-week period (also referred to as “three months,” “three-month period,” “quarter,” “second quarter” or “quarterly period”) that began May 3, 2021, and the twenty-six week period (also referred to as “six months”, “six-month period” or “first half”) that began February 1, 2021, which both ended August 1, 2021. This report discusses our results of operations for these periods compared to the 2021 fiscal year thirteen-week period that began May 4, 2020, and the twenty-six-week period that began February 3, 2020, which both ended August 2, 2020; and our financial condition as of August 1,2021 compared to January 31, 2021.

References in these notes to the condensed consolidated financial statements of the Company to:

■

the 2022 fiscal year and comparable terminology mean the fifty-two-week fiscal year that began February 1, 2021 and will end January 30, 2022; and

■

the 2021 fiscal year and comparable terminology mean the fifty-two-week fiscal year that began February 3, 2020 and ended January 31, 2021.

Recently Adopted Accounting Policies

6 Months Ended

Aug. 01, 2021

Accounting Standards Update and Change in Accounting Principle [Abstract]

Accounting Standards Update and Change in Accounting Principle [Text Block]

2. Recently Adopted Accounting Policies

In August 2018, the FASB issued ASU No. 2018-14, Compensation —Retirement Benefits —Defined Benefit Plans —General (Subtopic 715-20) —Disclosure Framework —Changes to the Disclosure Requirements for Defined Benefit Plans (“ASU 2018-14”). The amendments in this update change the disclosure requirements for employers that sponsor defined benefit pension and/or other post-retirement benefit plans. It eliminates requirements for certain disclosures that are no longer considered cost beneficial and requires new disclosures that the FASB considers pertinent. The guidance is effective for fiscal years ending after December 15, 2020. We adopted this guidance in the fiscal 2022 first quarter. The adoption of ASU 2018-14 did not have a material impact on our consolidated financial statements or disclosures.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Accounts Receivable

6 Months Ended

Aug. 01, 2021

Receivables [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

3. Accounts Receivable

	August 1,			January 31,
	2021			2021

Trade accounts receivable	$	107,672		$	92,621
Other accounts receivable allowances		(6,771	)		(6,993	)
Allowance for doubtful accounts		(2,607	)		(2,338	)
Accounts receivable	$	98,294		$	83,290

Inventories

6 Months Ended

Aug. 01, 2021

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

4. Inventories

	August 1,			January 31,
	2021			2021
Finished furniture	$	111,920		$	81,290
Furniture in process		1,892			1,397
Materials and supplies		13,119			9,639
Inventories at FIFO		126,931			92,326
Reduction to LIFO basis		(23,336	)		(22,167	)
Inventories	$	103,595		$	70,159

Property, Plant and Equipment

6 Months Ended

Aug. 01, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

5. Property, Plant and Equipment

	Depreciable Lives	August 1,		January 31,
	(In years)	2021		2021

Buildings and land improvements	15 - 30	$	31,930	$	31,316
Computer software and hardware	3 - 10		15,232		15,012
Machinery and equipment	10		10,047		9,314
Leasehold improvements	Term of lease		10,471		10,005
Furniture and fixtures	3 - 10		2,679		2,614
Other	5		674		651
Total depreciable property at cost			71,033		68,912
Less accumulated depreciation			46,415		44,098
Total depreciable property, net			24,618		24,814
Land			1,077		1,077
Construction-in-progress			2,270		889
Property, plant and equipment, net		$	27,965	$	26,780

The increase in construction-in-progress (“CIP”) is primarily due to (1) assets purchased for our leased Georgia distribution facility which are expected to be placed into service in the second half of the current fiscal year and (2) lower prior year CIP balances due to cash preservation efforts at the onset of COVID-19 crisis.

Fair Value Measurements

6 Months Ended

Aug. 01, 2021

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

6. Fair Value Measurements

Fair value is the price that would be received upon the sale of an asset or paid upon the transfer of a liability (an exit price) in an orderly transaction between market participants on the applicable measurement date. We use a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include:

■

Level 1, defined as observable inputs such as quoted prices in active markets for identical assets and liabilities;

■

Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and

■

Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions.

As of August 1, 2021 and January 31, 2021, Company-owned life insurance was measured at fair value on a recurring basis based on Level 2 inputs. The fair value of the Company-owned life insurance is determined by inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. Additionally, the fair value of the Company-owned life insurance is marked to market each reporting period and any change in fair value is reflected in income for that period.

Our assets measured at fair value on a recurring basis at August 1, 2021 and January 31, 2021, were as follows:

	Fair value at August 1, 2021								Fair value at January 31, 2021
Description	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In thousands)
Assets measured at fair value
Company-owned life insurance	$	-	$	26,332	$	-	$	26,332	$	-	$	25,365	$	-	$	25,365

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Intangible Assets

6 Months Ended

Aug. 01, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

7. Intangible Assets

		January 31, 2021				August 1, 2021
Non-amortizable Intangible Assets	Segment	Beginning Balance		Impairment Charges		Net Book Value
Goodwill	Domestic Upholstery	$	490	$	-	$	490

Trademarks and trade names - Home Meridian	Home Meridian		6,650		-		6,650
Trademarks and trade names - Bradington-Young	Domestic Upholstery		861		-		861
Trademarks and trade names - Sam Moore	Domestic Upholstery		396		-		396
Total Trademarks and trade names		$	7,907	$	-	$	7,907

Total non-amortizable assets		$	8,397	$	-	$	8,397

Our amortizable intangible assets are recorded in our Home Meridian and Domestic Upholstery segments. The carrying amounts and changes therein of those amortizable intangible assets were as follows:

	Amortizable Intangible Assets
	Customer
	Relationships			Trademarks			Totals

Balance at January 31, 2021	$	17,672		$	658		$	18,330
Amortization		(1,162	)		(30	)		(1,192	)
Balance at August 1, 2021	$	16,510		$	628		$	17,138

For the remainder of fiscal 2022, amortization expense is expected to be approximately $1.2 million.

Leases

6 Months Ended

Aug. 01, 2021

Disclosure Text Block [Abstract]

Lessor, Operating Leases [Text Block]

8. Leases

We recognized sub-lease income of $150,000 for the three-month period and $296,000 for the six-month period, both ended August 1, 2021. The components of lease cost and supplemental cash flow information for leases for the three-months and six-months ended August 1, 2021 were:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 1, 2021		August 2, 2020		August 1, 2021		August 2, 2020
Operating lease cost	$	1,906	$	2,153	$	3,919	$	4,253
Variable lease cost		65		22		109		69
Short-term lease cost		19		67		28		186
Total operating lease cost	$	1,990	$	2,242	$	4,056	$	4,508


Operating cash outflows	$	1,954	$	1,931	$	3,936	$	3,833

The right-of-use assets and lease liabilities recorded on our Condensed Consolidated Balance Sheets as of August 1,2021 and January 31,2021 were as follows:

	August 1, 2021		January 31, 2021
Real estate	$	25,251	$	33,651
Property and equipment		925		962
Total operating leases right-of-use assets	$	26,176	$	34,613


Current portion of operating lease liabilities	$	5,942	$	6,650
Long term operating lease liabilities		21,801		29,441
Total operating lease liabilities	$	27,743	$	36,091

The weighted-average remaining lease term is 6.5 years. We used our incremental borrowing rate which is LIBOR plus 1.5% at the adoption date. The weighted-average discount rate is 2.3%.

The following table reconciles the undiscounted future lease payments for operating leases to the operating lease liabilities recorded in the condensed consolidated balance sheets on August 1, 2021:

	Undiscounted Future Operating Lease Payments
Remainder of 2022	$	3,523
2023		5,341
2024		4,109
2025		3,996
2026		3,975
2027 and thereafter		9,114
Total lease payments	$	30,058
Less: impact of discounting		(2,315	)
Present value of lease payments	$	27,743

As of August 1, 2021, the Company had leases for a warehouse in Georgia and a showroom in North Carolina that had not yet commenced with estimated future minimum rental commitments of approximately $51 million. Both leases have an initial lease term of 10 years, with the warehouse lease expected to commence in Fall of 2021 and the showroom lease expected to commence in Fall of 2022. Since the leases have not yet commenced, the undiscounted amounts are not included in the table above.

Long-Term Debt

6 Months Ended

Aug. 01, 2021

Debt Disclosure [Abstract]

Long-term Debt [Text Block]

9. Long-Term Debt

As of August 1, 2021, we had an aggregate $28.7 million available under our $35 million revolving credit facility (the “Existing Revolver”) to fund working capital needs. Standby letters of credit in the aggregate amount of $6.3 million, used to collateralize certain insurance arrangements and for imported product purchases, were outstanding under the revolving credit facility as of August 1, 2021. There were no additional borrowings outstanding under the Existing Revolver as of August 1, 2021.

Employee Benefit Plans

6 Months Ended

Aug. 01, 2021

Retirement Benefits [Abstract]

Retirement Benefits [Text Block]

10. Employee Benefit Plans

We maintain two “frozen” retirement plans, which are paying benefits and may include active employees among the participants. We do not expect to add participants to these plans in the future. The two plans include:

■

a supplemental retirement income plan (“SRIP”) for certain former and current executives of Hooker Furniture Corporation; and

■

the Pulaski Furniture Corporation Supplemental Executive Retirement Plan (“SERP”) for certain former executives.

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 1,		August 2,		August 1,		August 2,
	2021		2020		2021		2020
Net periodic benefit costs
Service cost		33		32		66		64
Interest cost		53		74		106		148
Actuarial loss		100		84		201		169

Consolidated net periodic benefit costs	$	186	$	190	$	373	$	381

The SRIP and SERP plans are unfunded plans. In fiscal 2022, we paid $365,000 in the second quarter and $544,000 in the first half and expect to pay a total of approximately $489,000 in benefit payments from our general assets during the remainder of fiscal 2022 to fund SRIP and SERP payments.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Earnings Per Share

6 Months Ended

Aug. 01, 2021

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

11. Earnings Per Share

We refer you to the discussion of Earnings Per Share in Note 2. Summary of Significant Accounting Policies, in the financial statements included in our 2021 Annual Report, for additional information concerning the calculation of earnings per share.

All stock awards are designed to encourage retention and to provide an incentive for increasing shareholder value. We have issued restricted stock awards to non-employee members of the board of directors since 2006 and to certain non-executive employees since 2014. We have issued restricted stock units (“RSUs”) to certain senior executives since fiscal 2012 under the Company’s Stock Incentive Plan. Each RSU entitles an executive to receive one share of the Company’s common stock if the executive remains continuously employed with the Company through the end of a three-year service period. The RSUs may be paid in shares of our common stock, cash or both at the discretion of the Compensation Committee of our board of directors. We have issued Performance-based Restricted Stock Units (“PSUs”) to certain senior executives since fiscal 2019 under the Company’s Stock Incentive Plan. Each PSU entitles the executive officer to receive one share of our common stock based on the achievement of two specified performance conditions if the executive officer remains continuously employed through the end of the three-year performance period. One target is based on our annual average growth in our EPS over the performance period and the other target is based on EPS growth over the performance period compared to our peers. The payout or settlement of the PSUs will be made in shares of our common stock.

We expect to continue to grant these types of awards annually in the future. The following table sets forth the number of outstanding restricted stock awards and RSUs and PSUs, net of forfeitures and vested shares, as of the fiscal period-end dates indicated:

	August 1,		January 31,
	2021		2021

Restricted shares		64		55
RSUs and PSUs		150		141
		214		196

All restricted shares, RSUs and PSUs awarded that have not yet vested are considered when computing diluted earnings per share. The following table sets forth the computation of basic and diluted earnings per share:

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 1,		August 2,		August 1,		August 2,
	2021		2020		2021		2020

Net income/(loss)	$	7,467	$	5,774	$	16,910	$	(29,045	)
Less: Unvested participating restricted stock dividends		12		9		23		17
Net earnings allocated to unvested participating restricted stock		43		28		92		-
Earnings/(loss) available for common shareholders		7,412		5,737		16,795		(29,062	)

Weighted average shares outstanding for basic earnings per share		11,850		11,824		11,842		11,811
Dilutive effect of unvested restricted stock, RSU and PSU awards		143		29		143		-
Weighted average shares outstanding for diluted earnings per share		11,993		11,853		11,985		11,811

Basic earnings/(loss) per share	$	0.63	$	0.49	$	1.42	$	(2.46	)

Diluted earnings/(loss) per share	$	0.62	$	0.48	$	1.40	$	(2.46	)

Income Taxes

6 Months Ended

Aug. 01, 2021

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

12. Income Taxes

We recorded income tax expense of $2.2 million for the fiscal 2022 second quarter compared to $1.6 million for the comparable prior year quarter. The effective tax rates for the fiscal 2022 and 2021 second quarters were 22.7% and 21.8%, respectively. For the fiscal 2022 first half, we recorded income tax expense of $5.0 million, compared to income tax benefit of $9.3 million for the comparable prior year period, of which $10.7 million was recorded related to goodwill and trade name impairment charges. The effective tax rates for the fiscal 2022 and 2021 first half periods were 22.7% and 24.2%, respectively.

No material and non-routine positions have been identified that are uncertain tax positions.

Tax years ending January 28, 2018 through January 31, 2021 remain subject to examination by federal and state taxing authorities.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
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+ Details

Segment Information

6 Months Ended

Aug. 01, 2021

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

13. Segment Information

As a public entity, we are required to present disaggregated information by segment using the management approach. The objective of this approach is to allow users of our financial statements to see our business through the eyes of management based upon the way management reviews performance and makes decisions. The management approach requires segment information to be reported based on how management internally evaluates the operating performance of the company’s business units or segments. The objective of this approach is to meet the basic principles of segment reporting as outlined in ASC 280 Segments (“ASC 280”), which are to allow the users of our financial statements to:

■

better understand our performance;

■

better assess our prospects for future net cash flows; and

■

make more informed judgments about us as a whole.

We define our segments as those operations our chief operating decision maker (“CODM”) regularly reviews to analyze performance and allocate resources. We measure the results of our segments using, among other measures, each segment’s net sales, gross profit and operating income, as determined by the information regularly reviewed by the CODM. We continually monitor our reportable segments for changes in facts and circumstances to determine whether changes in the identification or aggregation of operating segments are necessary. For financial reporting purposes, we are organized into three reportable segments and “All Other”, which includes the remainder of our businesses:

■

Hooker Branded, consisting of the operations of our imported Hooker Casegoods and Hooker Upholstery businesses;

■

Home Meridian, a business acquired at the beginning of fiscal 2017, is a stand-alone, mostly autonomous business that serves a different type or class of customer than do our other operating segments and at much lower margins;

■

Domestic Upholstery, which includes the domestic upholstery manufacturing operations of Bradington-Young, Sam Moore and Shenandoah Furniture; and

■

All Other, consisting of H Contract and Lifestyle Brands, a new business started in late fiscal 2019. Neither of these operating segments were individually reportable; therefore, we combined them in “All Other” in accordance with ASC 280.

The following table presents segment information for the periods, and as of the dates, indicated.

	Thirteen Weeks Ended											Twenty-Six Weeks Ended
	August 1, 2021					August 2, 2020						August 1, 2021					August 2, 2020
			% Net						% Net					% Net						% Net
Net Sales			Sales						Sales					Sales						Sales
Hooker Branded	$	49,929		30.7	%	$	38,820			29.7	%	$	101,268		31.1	%	$	65,982			28.1	%
Home Meridian		87,323		53.7	%		71,168			54.6	%		171,732		52.8	%		128,833			54.7	%
Domestic Upholstery		22,532		13.9	%		17,507			13.4	%		47,025		14.5	%		34,290			14.6	%
All Other		2,735		1.7	%		3,042			2.3	%		5,354		1.6	%		6,029			2.6	%
Consolidated	$	162,519		100	%	$	130,537			100.0	%	$	325,379		100.0	%	$	235,134			100.0	%

Gross Profit
Hooker Branded	$	17,060		34.2	%	$	12,443			32.1	%	$	34,273		33.8	%	$	20,448			31.0	%
Home Meridian		9,607		11.0	%		10,510			14.8	%		19,742		11.5	%		17,320			13.4	%
Domestic Upholstery		4,171		18.5	%		3,021			17.3	%		9,526		20.3	%		5,804			16.9	%
All Other		879		32.1	%		1,026			33.7	%		1,758		32.8	%		2,082			34.5	%
Consolidated	$	31,717		19.5	%	$	27,000			20.7	%	$	65,299		20.1	%	$	45,654			19.4	%

Operating Income/(Loss)
Hooker Branded	$	8,929		17.9	%	$	6,090			15.7	%	$	18,371		18.1	%	$	7,423			11.2	%
Home Meridian		43		0.0	%		1,083			1.5	%		908		0.5	%		(29,265	)		-22.7	%
Domestic Upholstery		457		2.0	%		(10	)		-0.1	%		2,145		4.6	%		(16,820	)		-49.1	%
All Other		232		8.5	%		349			11.5	%		479		8.9	%		736			12.2	%
Consolidated	$	9,661		5.9	%	$	7,512			5.8	%	$	21,903		6.7	%	$	(37,926	)		-16.1	%

Capital Expenditures
Hooker Branded	$	38				$	29					$	121				$	82
Home Meridian		1,109					20						2,455					108
Domestic Upholstery		130					54						889					294
All Other		-					-						-					-
Consolidated	$	1,277				$	103					$	3,465				$	484

Depreciation & Amortization
Hooker Branded	$	750				$	445					$	1,200				$	894
Home Meridian		567					533						1,068					1,068
Domestic Upholstery		549					700						1,309					1,397
All Other		2					3						6					6
Consolidated	$	1,868				$	1,681					$	3,583				$	3,365

	As of August 1,					As of January 31,
	2021		%Total			2021		%Total
Identifiable Assets			Assets					Assets
Hooker Branded	$	153,253		44.8	%	$	174,475		53.5	%
Home Meridian		138,730		40.5	%		100,497		30.9	%
Domestic Upholstery		49,720		14.5	%		49,370		15.2	%
All Other		770		0.2	%		1,204		0.4	%
Consolidated	$	342,473		100	%	$	325,546		100	%
Consolidated Goodwill and Intangibles		25,535					26,727
Total Consolidated Assets	$	368,008				$	352,273

Sales by product type are as follows:

	Net Sales (in thousands)
	Thirteen Weeks Ended										Twenty-Six Weeks Ended
	August 1, 2021		%Total			August 2, 2020		%Total			August 1, 2021		%Total			August 2, 2020		%Total
Casegoods	$	96,494		59	%	$	79,181		61	%	$	193,590		59	%	$	142,373		61	%
Upholstery		66,025		41	%		51,356		39	%		131,789		41	%		92,761		39	%
	$	162,519		100	%	$	130,537		100	%	$	325,379		100	%	$	235,134		100	%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

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+ Details

Subsequent Events

6 Months Ended

Aug. 01, 2021

Subsequent Events [Abstract]

Subsequent Events [Text Block]

14. Subsequent Events

Dividends

On September 2, 2021, our board of directors declared a quarterly cash dividend of $0.18 per share, which will be paid on September 30, 2021 to shareholders of record at September 16, 2021.

Accounts Receivable (Tables)

6 Months Ended

Aug. 01, 2021

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	August 1,			January 31,
	2021			2021

Trade accounts receivable	$	107,672		$	92,621
Other accounts receivable allowances		(6,771	)		(6,993	)
Allowance for doubtful accounts		(2,607	)		(2,338	)
Accounts receivable	$	98,294		$	83,290

Inventories (Tables)

6 Months Ended

Aug. 01, 2021

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

	August 1,			January 31,
	2021			2021
Finished furniture	$	111,920		$	81,290
Furniture in process		1,892			1,397
Materials and supplies		13,119			9,639
Inventories at FIFO		126,931			92,326
Reduction to LIFO basis		(23,336	)		(22,167	)
Inventories	$	103,595		$	70,159

Property, Plant and Equipment (Tables)

6 Months Ended

Aug. 01, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

	Depreciable Lives	August 1,		January 31,
	(In years)	2021		2021

Buildings and land improvements	15 - 30	$	31,930	$	31,316
Computer software and hardware	3 - 10		15,232		15,012
Machinery and equipment	10		10,047		9,314
Leasehold improvements	Term of lease		10,471		10,005
Furniture and fixtures	3 - 10		2,679		2,614
Other	5		674		651
Total depreciable property at cost			71,033		68,912
Less accumulated depreciation			46,415		44,098
Total depreciable property, net			24,618		24,814
Land			1,077		1,077
Construction-in-progress			2,270		889
Property, plant and equipment, net		$	27,965	$	26,780

Fair Value Measurements (Tables)

6 Months Ended

Aug. 01, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Our assets measured at fair value on a recurring basis at August 1, 2021 and January 31, 2021, were as follows:

	Fair value at August 1, 2021								Fair value at January 31, 2021
Description	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
	(In thousands)
Assets measured at fair value
Company-owned life insurance	$	-	$	26,332	$	-	$	26,332	$	-	$	25,365	$	-	$	25,365

Intangible Assets (Tables)

6 Months Ended

Aug. 01, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Indefinite-Lived Intangible Assets [Table Text Block]

		January 31, 2021				August 1, 2021
Non-amortizable Intangible Assets	Segment	Beginning Balance		Impairment Charges		Net Book Value
Goodwill	Domestic Upholstery	$	490	$	-	$	490

Trademarks and trade names - Home Meridian	Home Meridian		6,650		-		6,650
Trademarks and trade names - Bradington-Young	Domestic Upholstery		861		-		861
Trademarks and trade names - Sam Moore	Domestic Upholstery		396		-		396
Total Trademarks and trade names		$	7,907	$	-	$	7,907

Total non-amortizable assets		$	8,397	$	-	$	8,397

Schedule of Finite-Lived Intangible Assets [Table Text Block]

Our amortizable intangible assets are recorded in our Home Meridian and Domestic Upholstery segments. The carrying amounts and changes therein of those amortizable intangible assets were as follows:

	Amortizable Intangible Assets
	Customer
	Relationships			Trademarks			Totals

Balance at January 31, 2021	$	17,672		$	658		$	18,330
Amortization		(1,162	)		(30	)		(1,192	)
Balance at August 1, 2021	$	16,510		$	628		$	17,138

Leases (Tables)

6 Months Ended

Aug. 01, 2021

Disclosure Text Block [Abstract]

Lease, Cost [Table Text Block]

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 1, 2021		August 2, 2020		August 1, 2021		August 2, 2020
Operating lease cost	$	1,906	$	2,153	$	3,919	$	4,253
Variable lease cost		65		22		109		69
Short-term lease cost		19		67		28		186
Total operating lease cost	$	1,990	$	2,242	$	4,056	$	4,508


Operating cash outflows	$	1,954	$	1,931	$	3,936	$	3,833

Schedule of Right-of-Use Assets and Lease Liabilities [Table Text Block]

The right-of-use assets and lease liabilities recorded on our Condensed Consolidated Balance Sheets as of August 1,2021 and January 31,2021 were as follows:

	August 1, 2021		January 31, 2021
Real estate	$	25,251	$	33,651
Property and equipment		925		962
Total operating leases right-of-use assets	$	26,176	$	34,613


Current portion of operating lease liabilities	$	5,942	$	6,650
Long term operating lease liabilities		21,801		29,441
Total operating lease liabilities	$	27,743	$	36,091

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The following table reconciles the undiscounted future lease payments for operating leases to the operating lease liabilities recorded in the condensed consolidated balance sheets on August 1, 2021:

	Undiscounted Future Operating Lease Payments
Remainder of 2022	$	3,523
2023		5,341
2024		4,109
2025		3,996
2026		3,975
2027 and thereafter		9,114
Total lease payments	$	30,058
Less: impact of discounting		(2,315	)
Present value of lease payments	$	27,743

Employee Benefit Plans (Tables)

6 Months Ended

Aug. 01, 2021

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 1,		August 2,		August 1,		August 2,
	2021		2020		2021		2020
Net periodic benefit costs
Service cost		33		32		66		64
Interest cost		53		74		106		148
Actuarial loss		100		84		201		169

Consolidated net periodic benefit costs	$	186	$	190	$	373	$	381

Earnings Per Share (Tables)

6 Months Ended

Aug. 01, 2021

Earnings Per Share [Abstract]

Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]

	August 1,		January 31,
	2021		2021

Restricted shares		64		55
RSUs and PSUs		150		141
		214		196

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 1,		August 2,		August 1,		August 2,
	2021		2020		2021		2020

Net income/(loss)	$	7,467	$	5,774	$	16,910	$	(29,045	)
Less: Unvested participating restricted stock dividends		12		9		23		17
Net earnings allocated to unvested participating restricted stock		43		28		92		-
Earnings/(loss) available for common shareholders		7,412		5,737		16,795		(29,062	)

Weighted average shares outstanding for basic earnings per share		11,850		11,824		11,842		11,811
Dilutive effect of unvested restricted stock, RSU and PSU awards		143		29		143		-
Weighted average shares outstanding for diluted earnings per share		11,993		11,853		11,985		11,811

Basic earnings/(loss) per share	$	0.63	$	0.49	$	1.42	$	(2.46	)

Diluted earnings/(loss) per share	$	0.62	$	0.48	$	1.40	$	(2.46	)

Segment Information (Tables)

6 Months Ended

Aug. 01, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

The following table presents segment information for the periods, and as of the dates, indicated.

	Thirteen Weeks Ended											Twenty-Six Weeks Ended
	August 1, 2021					August 2, 2020						August 1, 2021					August 2, 2020
			% Net						% Net					% Net						% Net
Net Sales			Sales						Sales					Sales						Sales
Hooker Branded	$	49,929		30.7	%	$	38,820			29.7	%	$	101,268		31.1	%	$	65,982			28.1	%
Home Meridian		87,323		53.7	%		71,168			54.6	%		171,732		52.8	%		128,833			54.7	%
Domestic Upholstery		22,532		13.9	%		17,507			13.4	%		47,025		14.5	%		34,290			14.6	%
All Other		2,735		1.7	%		3,042			2.3	%		5,354		1.6	%		6,029			2.6	%
Consolidated	$	162,519		100	%	$	130,537			100.0	%	$	325,379		100.0	%	$	235,134			100.0	%

Gross Profit
Hooker Branded	$	17,060		34.2	%	$	12,443			32.1	%	$	34,273		33.8	%	$	20,448			31.0	%
Home Meridian		9,607		11.0	%		10,510			14.8	%		19,742		11.5	%		17,320			13.4	%
Domestic Upholstery		4,171		18.5	%		3,021			17.3	%		9,526		20.3	%		5,804			16.9	%
All Other		879		32.1	%		1,026			33.7	%		1,758		32.8	%		2,082			34.5	%
Consolidated	$	31,717		19.5	%	$	27,000			20.7	%	$	65,299		20.1	%	$	45,654			19.4	%

Operating Income/(Loss)
Hooker Branded	$	8,929		17.9	%	$	6,090			15.7	%	$	18,371		18.1	%	$	7,423			11.2	%
Home Meridian		43		0.0	%		1,083			1.5	%		908		0.5	%		(29,265	)		-22.7	%
Domestic Upholstery		457		2.0	%		(10	)		-0.1	%		2,145		4.6	%		(16,820	)		-49.1	%
All Other		232		8.5	%		349			11.5	%		479		8.9	%		736			12.2	%
Consolidated	$	9,661		5.9	%	$	7,512			5.8	%	$	21,903		6.7	%	$	(37,926	)		-16.1	%

Capital Expenditures
Hooker Branded	$	38				$	29					$	121				$	82
Home Meridian		1,109					20						2,455					108
Domestic Upholstery		130					54						889					294
All Other		-					-						-					-
Consolidated	$	1,277				$	103					$	3,465				$	484

Depreciation & Amortization
Hooker Branded	$	750				$	445					$	1,200				$	894
Home Meridian		567					533						1,068					1,068
Domestic Upholstery		549					700						1,309					1,397
All Other		2					3						6					6
Consolidated	$	1,868				$	1,681					$	3,583				$	3,365

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

The following table presents segment information for the periods, and as of the dates, indicated.

	As of August 1,					As of January 31,
	2021		%Total			2021		%Total
Identifiable Assets			Assets					Assets
Hooker Branded	$	153,253		44.8	%	$	174,475		53.5	%
Home Meridian		138,730		40.5	%		100,497		30.9	%
Domestic Upholstery		49,720		14.5	%		49,370		15.2	%
All Other		770		0.2	%		1,204		0.4	%
Consolidated	$	342,473		100	%	$	325,546		100	%
Consolidated Goodwill and Intangibles		25,535					26,727
Total Consolidated Assets	$	368,008				$	352,273

Revenue from External Customers by Products and Services [Table Text Block]

Sales by product type are as follows:

	Net Sales (in thousands)
	Thirteen Weeks Ended										Twenty-Six Weeks Ended
	August 1, 2021		%Total			August 2, 2020		%Total			August 1, 2021		%Total			August 2, 2020		%Total
Casegoods	$	96,494		59	%	$	79,181		61	%	$	193,590		59	%	$	142,373		61	%
Upholstery		66,025		41	%		51,356		39	%		131,789		41	%		92,761		39	%
	$	162,519		100	%	$	130,537		100	%	$	325,379		100	%	$	235,134		100	%

Accounts Receivable (Details) - Schedule of Accounts, Notes, Loans and Financing Receivable - USD ($) $ in Thousands	Aug. 01, 2021	Jan. 31, 2021
Schedule of Accounts, Notes, Loans and Financing Receivable [Abstract]
Trade accounts receivable	$ 107,672	$ 92,621
Other accounts receivable allowances	(6,771)	(6,993)
Allowance for doubtful accounts	(2,607)	(2,338)
Accounts receivable	$ 98,294	$ 83,290

Inventories (Details) - Schedule of Inventory, Current - USD ($) $ in Thousands	Aug. 01, 2021	Jan. 31, 2021
Schedule of Inventory, Current [Abstract]
Finished furniture	$ 111,920	$ 81,290
Furniture in process	1,892	1,397
Materials and supplies	13,119	9,639
Inventories at FIFO	126,931	92,326
Reduction to LIFO basis	(23,336)	(22,167)
Inventories	$ 103,595	$ 70,159

Property, Plant and Equipment (Details) - Property, Plant and Equipment - USD ($) $ in Thousands	6 Months Ended
	Aug. 01, 2021	Jan. 31, 2021
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 71,033	$ 68,912
Less accumulated depreciation	46,415	44,098
Total depreciable property, net	24,618	24,814
Land	1,077	1,077
Construction-in-progress	2,270	889
Property, plant and equipment, net	27,965	26,780
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	31,930	31,316
Computer Software and Hardware [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	15,232	15,012
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 10,047	9,314
Property, Plant and Equipment, Depreciable Lives	10
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 10,471	10,005
Property, Plant and Equipment, Depreciable Lives	Term of lease
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,679	2,614
Property, Plant and Equipment, Other Types [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 674	$ 651
Property, Plant and Equipment, Depreciable Lives	5
Minimum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciable Lives	15
Minimum [Member] \| Computer Software and Hardware [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciable Lives	3
Minimum [Member] \| Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciable Lives	3
Maximum [Member] \| Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciable Lives	30
Maximum [Member] \| Computer Software and Hardware [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciable Lives	10
Maximum [Member] \| Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciable Lives	10

Fair Value Measurements (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis - USD ($) $ in Thousands	Aug. 01, 2021	Jan. 31, 2021
Assets measured at fair value
Company-owned life insurance	$ 26,332	$ 25,365
Fair Value, Inputs, Level 1 [Member]
Assets measured at fair value
Company-owned life insurance	0	0
Fair Value, Inputs, Level 2 [Member]
Assets measured at fair value
Company-owned life insurance	26,332	25,365
Fair Value, Inputs, Level 3 [Member]
Assets measured at fair value
Company-owned life insurance	$ 0	$ 0

Intangible Assets (Details) $ in Millions	Aug. 01, 2021 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	$ 1.2

Intangible Assets (Details) - Schedule of Indefinite-Lived Intangible Assets - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020	Jan. 31, 2021
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 0	$ 0	$ 0	$ (39,568)
Goodwill	490		490		$ 490
Trademarks and trade names	25,045		25,045		$ 26,237
Total non-amortizable assets	8,397		8,397
Total non-amortizable assets			0	$ (44,318)
Total non-amortizable assets	8,397		8,397
Home Meridian International [Member] \| Trademarks and Trade Names [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks and trade names			6,650
Trademarks and trade names			0
Trademarks and trade names	6,650		6,650
Goodwill [Member] \| Other Segments [Member]
Indefinite-lived Intangible Assets [Line Items]
Goodwill			490
Goodwill			0
Goodwill	490		490
Trademarks and Trade Names [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks and trade names			0
Trademarks and trade names	7,907		7,907
Trademarks and trade names	7,907		7,907
Trademarks and Trade Names [Member] \| Bradington-Young [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks and trade names			0
Trademarks and trade names	861		861
Trademarks and trade names	861		861
Trademarks and Trade Names [Member] \| Sam Moore [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks and trade names			0
Trademarks and trade names	396		396
Trademarks and trade names	$ 396		$ 396

Intangible Assets (Details) - Schedule of Finite-Lived Intangible Assets - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Finite-Lived Intangible Assets [Line Items]
Balance			$ 18,330
Amortization	$ (596)	$ (596)	(1,192)	$ (1,192)
Balance	17,138		17,138
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Balance			17,672
Amortization			(1,162)
Balance	16,510		16,510
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Balance			658
Amortization			(30)
Balance	$ 628		$ 628

Leases (Details) - USD ($)	3 Months Ended		6 Months Ended
Leases (Details) - USD ($)	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Leases (Details) [Line Items]
Operating Lease, Lease Income	$ 150,000		$ 296,000
Operating Lease, Weighted Average Remaining Lease Term	6 years 6 months		6 years 6 months
Lessee, Operating Lease, Variable Lease Payment, Terms and Conditions			incremental borrowing rate which is LIBOR plus 1.5%
Operating Lease, Weighted Average Discount Rate, Percent	2.30%		2.30%
Operating Lease, Payments	$ 1,954,000	$ 1,931,000	$ 3,936,000	$ 3,833,000
Lessee, Operating Lease, Term of Contract	10 years		10 years
Minimum [Member]
Leases (Details) [Line Items]
Operating Lease, Payments			$ 51,000,000
London Interbank Offered Rate (LIBOR) [Member]
Leases (Details) [Line Items]
Operating Leases of Lessee, Contingent Rentals, Basis Spread on Variable Rate			1.50%

Leases (Details) - Lease, Cost - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Leases (Details) - Lease, Cost - USD ($) $ in Thousands	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Leases (Details) - Lease, Cost [Line Items]
Operating lease cost	$ 1,990	$ 2,242	$ 4,056	$ 4,508
Operating cash outflows	1,954	1,931	3,936	3,833
Operating Lease Costs [Member]
Leases (Details) - Lease, Cost [Line Items]
Operating lease cost	1,906	2,153	3,919	4,253
Variable Lease Cost [Member]
Leases (Details) - Lease, Cost [Line Items]
Operating lease cost	65	22	109	69
Leases Less Then 12 Months [Member]
Leases (Details) - Lease, Cost [Line Items]
Operating lease cost	$ 19	$ 67	$ 28	$ 186

Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities - USD ($) $ in Thousands	Aug. 01, 2021	Jan. 31, 2021
Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities [Line Items]
Operating leases right-of-use assets	$ 26,176	$ 34,613
Current portion of operating lease liabilities	5,942	6,650
Long term operating lease liabilities	21,801	29,441
Total operating lease liabilities	27,743	36,091
Real Estate [Member]
Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities [Line Items]
Operating leases right-of-use assets	25,251	33,651
Property, Plant and Equipment [Member]
Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities [Line Items]
Operating leases right-of-use assets	$ 925	$ 962

Leases (Details) - Lessee, Operating Lease, Liability, Maturity - USD ($) $ in Thousands	Aug. 01, 2021	Jan. 31, 2021
Lessee, Operating Lease, Liability, Maturity [Abstract]
Remainder of 2022	$ 3,523
2023	5,341
2024	4,109
2025	3,996
2026	3,975
2027 and thereafter	9,114
Total lease payments	30,058
Less: impact of discounting	(2,315)
Present value of lease payments	$ 27,743	$ 36,091

Long-Term Debt (Details) $ in Millions	Aug. 01, 2021 USD ($)
Long-Term Debt (Details) [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	$ 28.7
Letters of Credit Outstanding, Amount	6.3
Line of Credit [Member]
Long-Term Debt (Details) [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 35.0

Employee Benefit Plans (Details)	3 Months Ended	6 Months Ended
Employee Benefit Plans (Details)	Aug. 01, 2021 USD ($)	Aug. 01, 2021 USD ($)
Retirement Benefits [Abstract]
Defined Benefit Plan, Benefit Obligation, Benefits Paid	$ 365,000	$ 544,000
Defined Benefit Plan, Expected Future Benefit Payment, Remainder of Fiscal Year	$ 489,000	$ 489,000

Employee Benefit Plans (Details) - Schedule of Net Benefit Costs - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Net periodic benefit costs
Service cost	$ 33	$ 32	$ 66	$ 64
Interest cost	53	74	106	148
Actuarial loss	100	84	201	169
Consolidated net periodic benefit costs	$ 186	$ 190	$ 373	$ 381

Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units - shares shares in Thousands	Aug. 01, 2021	Jan. 31, 2021
Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units [Line Items]
Number of Shares Outstanding	214	196
Restricted Stock [Member]
Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units [Line Items]
Number of Shares Outstanding	64	55
Restricted Stock Units (RSUs) and Performance Shares (PSUs) [Member]
Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units [Line Items]
Number of Shares Outstanding	150	141

Earnings Per Share (Details) - Schedule of Earnings Per Share, Basic and Diluted - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Schedule of Earnings Per Share, Basic and Diluted [Abstract]
Net income/(loss)	$ 7,467	$ 5,774	$ 16,910	$ (29,045)
Less: Unvested participating restricted stock dividends	12	9	23	17
Net earnings allocated to unvested participating restricted stock	43	28	92	0
Earnings/(loss) available for common shareholders	$ 7,412	$ 5,737	$ 16,795	$ (29,062)
Weighted average shares outstanding for basic earnings per share (in Shares)	11,850	11,824	11,842	11,811
Dilutive effect of unvested restricted stock, RSU and PSU awards (in Shares)	143	29	143	0
Weighted average shares outstanding for diluted earnings per share (in Shares)	11,993	11,853	11,985	11,811
Basic earnings/(loss) per share (in Dollars per share)	$ 0.63	$ 0.49	$ 1.42	$ (2.46)
Diluted earnings/(loss) per share (in Dollars per share)	$ 0.62	$ 0.48	$ 1.40	$ (2.46)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Income Taxes (Details) [Line Items]
Income Tax Expense (Benefit)	$ 2,192	$ 1,610	$ 4,966	$ (9,259)
Effective Income Tax Rate Reconciliation, Percent	22.70%	21.80%	22.70%	24.20%
Goodwill And Trade Name Impairment Charges [Member]
Income Taxes (Details) [Line Items]
Income Tax Expense (Benefit)				$ 10,700

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Segment Information (Details)	6 Months Ended
Segment Information (Details)	Aug. 01, 2021
Segment Reporting [Abstract]
Number of Reportable Segments	3

Segment Information (Details) - Segment Reporting Information - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Segment Reporting Information [Line Items]
Net Sales	$ 162,519	$ 130,537	$ 325,379	$ 235,134
% of Net Sales	100.00%	100.00%	100.00%	100.00%
Gross Profit
Gross Profit	$ 31,717	$ 27,000	$ 65,299	$ 45,654
% of Net Sales, Gross Profit	19.50%	20.70%	20.10%	19.40%
Operating Income/(Loss)
Operating Income	$ 9,661	$ 7,512	$ 21,903	$ (37,926)
% of Net Sales, Operating Income	5.90%	5.80%	6.70%	(16.10%)
Capital Expenditures
Capital Expenditures	$ 1,277	$ 103	$ 3,465	$ 484
Depreciation & Amortization
Depreciation & Amortization	1,868	1,681	3,583	3,365
Hooker Branded [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 49,929	$ 38,820	$ 101,268	$ 65,982
% of Net Sales	30.70%	29.70%	31.10%	28.10%
Gross Profit
Gross Profit	$ 17,060	$ 12,443	$ 34,273	$ 20,448
% of Net Sales, Gross Profit	34.20%	32.10%	33.80%	31.00%
Operating Income/(Loss)
Operating Income	$ 8,929	$ 6,090	$ 18,371	$ 7,423
% of Net Sales, Operating Income	17.90%	15.70%	18.10%	11.20%
Capital Expenditures
Capital Expenditures	$ 38	$ 29	$ 121	$ 82
Depreciation & Amortization
Depreciation & Amortization	750	445	1,200	894
Home Meridian International [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 87,323	$ 71,168	$ 171,732	$ 128,833
% of Net Sales	53.70%	54.60%	52.80%	54.70%
Gross Profit
Gross Profit	$ 9,607	$ 10,510	$ 19,742	$ 17,320
% of Net Sales, Gross Profit	11.00%	14.80%	11.50%	13.40%
Operating Income/(Loss)
Operating Income	$ 43	$ 1,083	$ 908	$ (29,265)
% of Net Sales, Operating Income	0.00%	1.50%	0.50%	(22.70%)
Capital Expenditures
Capital Expenditures	$ 1,109	$ 20	$ 2,455	$ 108
Depreciation & Amortization
Depreciation & Amortization	567	533	1,068	1,068
Upholstery [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 22,532	$ 17,507	$ 47,025	$ 34,290
% of Net Sales	13.90%	13.40%	14.50%	14.60%
Gross Profit
Gross Profit	$ 4,171	$ 3,021	$ 9,526	$ 5,804
% of Net Sales, Gross Profit	18.50%	17.30%	20.30%	16.90%
Operating Income/(Loss)
Operating Income	$ 457	$ (10)	$ 2,145	$ (16,820)
% of Net Sales, Operating Income	2.00%	(0.10%)	4.60%	(49.10%)
Capital Expenditures
Capital Expenditures	$ 130	$ 54	$ 889	$ 294
Depreciation & Amortization
Depreciation & Amortization	549	700	1,309	1,397
Other Segments [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 2,735	$ 3,042	$ 5,354	$ 6,029
% of Net Sales	1.70%	2.30%	1.60%	2.60%
Gross Profit
Gross Profit	$ 879	$ 1,026	$ 1,758	$ 2,082
% of Net Sales, Gross Profit	32.10%	33.70%	32.80%	34.50%
Operating Income/(Loss)
Operating Income	$ 232	$ 349	$ 479	$ 736
% of Net Sales, Operating Income	8.50%	11.50%	8.90%	12.20%
Capital Expenditures
Capital Expenditures	$ 0	$ 0	$ 0	$ 0
Depreciation & Amortization
Depreciation & Amortization	$ 2	$ 3	$ 6	$ 6

Segment Information (Details) - Assets from Segments to Consolidated - USD ($) $ in Thousands	Aug. 01, 2021	Jan. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 342,473	$ 325,546
% Total Assets	100.00%	100.00%
Consolidated Goodwill and Intangibles	$ 25,535	$ 26,727
Total Consolidated Assets	368,008	352,273
Hooker Branded [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 153,253	$ 174,475
% Total Assets	44.80%	53.50%
Home Meridian International [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 138,730	$ 100,497
% Total Assets	40.50%	30.90%
Upholstery [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 49,720	$ 49,370
% Total Assets	14.50%	15.20%
Other Segments [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 770	$ 1,204
% Total Assets	0.20%	0.40%

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 55
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 852
-SubTopic 10
-Section 50
-Paragraph 7
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124433192&loc=SL2890621-112765

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+ Details

Segment Information (Details) - Revenue from External Customers by Products and Services - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 01, 2021	Aug. 02, 2020	Aug. 01, 2021	Aug. 02, 2020
Revenue from External Customer [Line Items]
Net Sales	$ 162,519	$ 130,537	$ 325,379	$ 235,134
% Total	100.00%	100.00%	100.00%	100.00%
Casegoods [Member]
Revenue from External Customer [Line Items]
Net Sales	$ 96,494	$ 79,181	$ 193,590	$ 142,373
% Total	59.00%	61.00%	59.00%	61.00%
Upholstery [Member]
Revenue from External Customer [Line Items]
Net Sales	$ 66,025	$ 51,356	$ 131,789	$ 92,761
% Total	41.00%	39.00%	41.00%	39.00%

- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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+ Details

Subsequent Events (Details) - Subsequent Event [Member]	Sep. 02, 2021 $ / shares
Subsequent Events (Details) [Line Items]
Dividends Payable, Date Declared	Sep. 02, 2021
Dividends Payable, Date to be Paid	Sep. 30, 2021
Dividends Payable, Date of Record	Sep. 16, 2021
Common Stock, Dividends, Per Share, Declared	$ 0.18