0001185185-21-001818 | 10-Q | XBRL Viewer

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Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Oct. 31, 2021	Dec. 03, 2021
Document Information Line Items
Entity Registrant Name	HOOKER FURNISHINGS CORPORATION
Trading Symbol	HOFT
Document Type	10-Q
Current Fiscal Year End Date	--01-31
Entity Common Stock, Shares Outstanding		11,922,314
Amendment Flag	false
Entity Central Index Key	0001077688
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Oct. 31, 2021
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
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	Oct. 31, 2021	Jan. 31, 2021
Current assets
Cash and cash equivalents	$ 57,219	$ 65,841
Trade accounts receivable, net	73,585	83,290
Inventories	77,864	70,159
Income tax recoverable	3,098	0
Prepaid expenses and other current assets	6,523	4,432
Total current assets	218,289	223,722
Property, plant and equipment, net	29,590	26,780
Cash surrender value of life insurance policies	26,133	25,365
Deferred taxes	11,835	14,173
Operating leases right-of-use assets	53,225	34,613
Intangible assets, net	24,449	26,237
Goodwill	490	490
Other assets	3,374	893
Total non-current assets	149,096	128,551
Total assets	367,385	352,273
Current liabilities
Trade accounts payable	16,599	32,213
Accrued salaries, wages and benefits	5,928	7,136
Income tax accrual	0	501
Customer deposits	6,550	4,256
Current portion of lease liabilities	7,293	6,650
Other accrued expenses	5,456	3,354
Total current liabilities	41,826	54,110
Deferred compensation	10,676	11,219
Lease liabilities	47,530	29,441
Total long-term liabilities	58,206	40,660
Total liabilities	100,032	94,770
Shareholders’ equity
Common stock, no par value, 20,000 shares authorized, 11,922 and 11,888 shares issued and outstanding on each date	53,690	53,323
Retained earnings	214,242	204,988
Accumulated other comprehensive loss	(579)	(808)
Total shareholders’ equity	267,353	257,503
Total liabilities and shareholders’ equity	$ 367,385	$ 352,273

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - shares shares in Thousands	Oct. 31, 2021	Jan. 31, 2021
Statement of Financial Position [Abstract]
Common stock, shares authorized	20,000	20,000
Common stock, shares issued	11,922	11,888
Common stock, shares outstanding	11,922	11,888

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Oct. 31, 2021	Nov. 01, 2020
Income Statement [Abstract]
Net sales	$ 133,428	$ 149,687	$ 458,807	$ 384,821
Cost of sales	113,421	116,204	373,501	305,684
Gross profit	20,007	33,483	85,306	79,137
Selling and administrative expenses	21,139	19,850	63,343	57,920
Goodwill impairment charges	0	0	0	39,568
Trade name impairment charges	0	0	0	4,750
Intangible asset amortization	596	596	1,788	1,788
Operating (loss)/income	(1,728)	13,037	20,175	(24,889)
Other income, net	133	158	160	107
Interest expense, net	27	106	81	433
(Loss)/income before income taxes	(1,622)	13,089	20,254	(25,215)
Income tax (benefit)/expense	(403)	2,996	4,563	(6,263)
Net (loss)/income	$ (1,219)	$ 10,093	$ 15,691	$ (18,952)
(Loss)/earnings per share
Basic (in Dollars per share)	$ (0.1)	$ 0.85	$ 1.32	$ (1.61)
Diluted (in Dollars per share)	$ (0.1)	$ 0.84	$ 1.3	$ (1.61)
Weighted average shares outstanding:
Basic (in Shares)	11,863	11,833	11,849	11,818
Diluted (in Shares)	11,863	11,939	12,017	11,818
Cash dividends declared per share (in Dollars per share)	$ 0.18	$ 0.16	$ 0.54	$ 0.48

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Oct. 31, 2021	Nov. 01, 2020
Statement of Comprehensive Income [Abstract]
Net (loss)/income	$ (1,219)	$ 10,093	$ 15,691	$ (18,952)
Amortization of actuarial loss	100	84	301	253
Income tax effect on amortization	(24)	(20)	(72)	(60)
Adjustments to net periodic benefit cost	76	64	229	193
Total comprehensive (loss)/income	$ (1,143)	$ 10,157	$ 15,920	$ (18,759)

- 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	9 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Operating Activities:
Net income/(loss)	$ 15,691	$ (18,952)
Adjustments to reconcile net income to net cash provided by operating activities:
Goodwill and intangible asset impairment charges	0	44,318
Depreciation and amortization	5,623	5,052
Deferred income tax expense/(benefit)	2,266	(10,143)
Noncash restricted stock and performance awards	367	1,473
Provision for doubtful accounts and sales allowances	474	4,527
Gain on life insurance policies	(802)	(1,750)
Changes in assets and liabilities:
Trade accounts receivable	9,230	7,829
Inventories	(7,705)	28,730
Income tax recoverable	(3,098)	751
Prepaid expenses and other current assets	(4,074)	620
Trade accounts payable	(15,632)	2,947
Accrued salaries, wages, and benefits	(1,140)	(441)
Accrued income taxes	(501)	2,015
Customer deposits	2,294	967
Operating lease liabilities	120	797
Other accrued expenses	2,104	(1,165)
Deferred compensation	(243)	32
Net cash provided by operating activities	4,974	67,607
Investing Activities:
Purchases of property and equipment	(6,626)	(642)
Premiums paid on life insurance policies	(533)	(519)
Proceeds received on life insurance policies		1,489
Net cash (used in)/provided by investing activities	(7,159)	328
Financing Activities:
Cash dividends paid	(6,437)	(5,699)
Payments for long-term debt	0	(4,393)
Cash used in financing activities	(6,437)	(10,092)
Net (decrease)/increase in cash and cash equivalents	(8,622)	57,843
Cash and cash equivalents - beginning of year	65,841	36,031
Cash and cash equivalents - end of quarter	57,219	93,874
Supplemental disclosure of cash flow information:
Cash paid for income taxes	5,858	2,301
Cash paid for interest, net	1	365
Non-cash transactions:
increase in lease liabilities arising from changes in right-of-use assets	23,736	2,103
Increase in property and equipment through accrued purchases	$ 17	$ 12

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)		(18,952)		(18,952)
Unrealized gain loss on defined benefit plan, net of tax			193	193
Cash dividends paid and accrued		(5,699)		(5,699)
Restricted stock grants, net of forfeitures	$ 169			169
Restricted stock grants, net of forfeitures (in Shares)	49
Restricted stock compensation cost	$ 651			651
Performance-based restricted stock units costs	653			653
Balance at Nov. 01, 2020	$ 53,055	198,601	(520)	251,136
Balance (in Shares) at Nov. 01, 2020	11,887
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)		15,691		$ 15,691
Unrealized gain loss on defined benefit plan, net of tax			229	229
Cash dividends paid and accrued		(6,437)		(6,437)
Restricted stock grants, net of forfeitures	$ (125)			(125)
Restricted stock grants, net of forfeitures (in Shares)	34
Restricted stock compensation cost	$ 813			813
Performance-based restricted stock units costs	419			419
PSU awards	(740)			(740)
Balance at Oct. 31, 2021	$ 53,690	$ 214,242	$ (579)	$ 267,353
Balance (in Shares) at Oct. 31, 2021	11,922			11,922

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parentheticals) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2021	Nov. 01, 2020
Statement of Stockholders' Equity [Abstract]
Unrealized gain loss on defined benefit plan, tax	$ 72	$ 60
Cash dividends paid and accrued, per share	$ 0.54	$ 0.48

Preparation of Interim Financial Statements

9 Months Ended

Oct. 31, 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 Furnishings 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,” “third quarter” or “quarterly period”) that began August 2, 2021, and the thirty-nine week period (also referred to as “nine months”, “nine-month period” or “year-to-date period”) that began February 1, 2021, which both ended October 31, 2021. This report discusses our results of operations for these periods compared to the 2021 fiscal year thirteen-week period that began August 3, 2020, and the thirty-nine week period that began February 3, 2020, which both ended November 1, 2020; and our financial condition as of October 31,2021 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

9 Months Ended

Oct. 31, 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 Financial Accounting Standards Board (“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

Cancellation Costs

9 Months Ended

Oct. 31, 2021

Cancellation Costs [Abstract]

Cancellation Costs [Text Block]

3. Cancellation Costs

The Home Meridian segment incurred cancellation costs of $2.6 million for raw materials related to its exit of the ready-to-assemble furniture category. The amount was recorded in cost of sales in the fiscal 2022 third quarter. Due to the increases in freight costs since these items were ordered, we determined that the additional cost needed to move these products stateside would have resulted in a substantially greater loss than the cost to cancel the orders at the factories.

Accounts Receivable

9 Months Ended

Oct. 31, 2021

Receivables [Abstract]

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

4. Accounts Receivable

	October 31,			January 31,
	2021			2021

Trade accounts receivable	$	83,363		$	92,621
Other accounts receivable allowances		(7,621	)		(6,993	)
Allowance for doubtful accounts		(2,157	)		(2,338	)
Accounts receivable	$	73,585		$	83,290

Inventories

9 Months Ended

Oct. 31, 2021

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

5. Inventories

	October 31,			January 31,
	2021			2021
Finished furniture	$	88,815		$	81,290
Furniture in process		2,152			1,397
Materials and supplies		13,176			9,639
Inventories at FIFO		104,143			92,326
Reduction to LIFO basis		(26,279	)		(22,167	)
Inventories	$	77,864		$	70,159

Property, Plant and Equipment

9 Months Ended

Oct. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

6. Property, Plant and Equipment

	Depreciable Lives	October 31,			January 31,
	(In years)	2021			2021

Buildings and land improvements	15 - 30	$	31,998		$	31,316
Computer software and hardware	3 - 10		15,592			15,012
Machinery and equipment	10		10,570			9,314
Leasehold improvements	Term of lease		11,322			10,005
Furniture and fixtures	3 - 10		5,748			2,614
Other	5		674			651
Total depreciable property at cost			75,904			68,912
Less accumulated depreciation			(47,851	)		(44,098	)
Total depreciable property, net			28,053			24,814
Land			1,077			1,077
Construction-in-progress			460			889
Property, plant and equipment, net		$	29,590		$	26,780

Fair Value Measurements

9 Months Ended

Oct. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

7. 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 October 31, 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 October 31, 2021 and January 31, 2021, were as follows:

	Fair value at October 31, 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	$	-	$	26,133	$	-	$	26,133	$	-	$	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

9 Months Ended

Oct. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets Disclosure [Text Block]

8. Intangible Assets

		January 31, 2021				October 31, 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		(1,743	)		(45	)		(1,788	)
Balance at October 31, 2021	$	15,929		$	613		$	16,542

For the remainder of fiscal 2022, amortization expense is expected to be approximately $596,000.

Leases

9 Months Ended

Oct. 31, 2021

Disclosure Text Block [Abstract]

Lessor, Operating Leases [Text Block]

9. Leases

We recognized sub-lease income of $266,000 for the three-month period and $561,000 for the nine-month period, both ended October 31, 2021. We recognized sub-lease income of $144,000 for the three-month period and $432,000 for the nine-month period, both ended November 1, 2020. The components of lease cost and supplemental cash flow information for leases for the three-months and nine-months ended October 31, 2021 and November 1, 2020 were:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 31, 2021		November 1, 2020		October 31, 2021		November 1, 2020
Operating lease cost	$	1,794	$	2,061	$	5,712	$	6,319
Variable lease cost		53		37		162		105
Short-term lease cost		27		70		94		272
Total operating lease cost	$	1,874	$	2,168	$	5,968	$	6,696


Operating cash outflows	$	1,843	$	2,056	$	5,818	$	5,908

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

	October 31, 2021		January 31, 2021
Real estate	$	52,010	$	33,651
Property and equipment		1,215		962
Total operating leases right-of-use assets	$	53,225	$	34,613


Current portion of operating lease liabilities	$	7,293	$	6,650
Long term operating lease liabilities		47,530		29,441
Total operating lease liabilities	$	54,823	$	36,091

The increase in right-of-use assets and lease liabilities is primarily due to the commencement of the operating lease at our new warehouse facility in Georgia during the fiscal 2022 third quarter.

The weighted-average remaining lease term is 8.5 years. We used our incremental borrowing rate which is LIBOR plus 1.5% at the adoption date. The weighted-average discount rate is 1.93%.

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 October 31, 2021:

	Undiscounted Future Operating Lease Payments
Remainder of 2022	$	1,796
2023		8,213
2024		6,980
2025		6,960
2026		7,032
2027 and thereafter		28,519
Total lease payments	$	59,500
Less: impact of discounting		(4,677	)
Present value of lease payments	$	54,823

As of October 31, 2021, the Company had an additional lease for a showroom in High Point, North Carolina. This lease is expected to commence in Fall of calendar 2022 with an initial lease term of 10 years and estimated future minimum rental commitments of approximately $23.7 million. Since the lease has not yet commenced, the undiscounted amounts are not included in the table above.

Long-Term Debt

9 Months Ended

Oct. 31, 2021

Debt Disclosure [Abstract]

Long-term Debt [Text Block]

10. Long-Term Debt

As of October 31, 2021, we had an aggregate $27.9 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 $7.1 million, used to collateralize certain insurance arrangements and for imported product purchases, were outstanding under the Existing Revolver as of October 31, 2021. There were no additional borrowings outstanding under the Existing Revolver as of October 31, 2021.

Employee Benefit Plans

9 Months Ended

Oct. 31, 2021

Retirement Benefits [Abstract]

Retirement Benefits [Text Block]

11. 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 Furnishings Corporation; and

■

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

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 31,		November 1,		October 31,		November 1,
	2021		2020		2021		2020
Net periodic benefit costs
Service cost		33		32		100		96
Interest cost		53		74		159		222
Actuarial loss		100		84		301		253

Consolidated net periodic benefit costs	$	186	$	190	$	560	$	571

The SRIP and SERP plans are unfunded plans. In fiscal 2022, we paid $259,000 in the third quarter and $803,000 in the nine-month period and expect to pay a total of approximately $230,000 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

9 Months Ended

Oct. 31, 2021

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

12. 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:

	October 31,		January 31,
	2021		2021

Restricted shares		60		55
RSUs and PSUs		132		141
		192		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					Thirty-Nine Weeks Ended
	October 31,			November 1,		October 31,		November 1,
	2021			2020		2021		2020

Net income/(loss)	$	(1,219	)	$	10,093	$	15,691	$	(18,952	)
Less: Unvested participating restricted stock dividends		11			9		34		26
Net earnings allocated to unvested participating restricted stock		-			47		84		-
Earnings/(loss) available for common shareholders		(1,230	)		10,037		15,573		(18,978	)

Weighted average shares outstanding for basic earnings per share		11,863			11,833		11,849		11,818
Dilutive effect of unvested restricted stock, RSU and PSU awards*		-			106		168		-
Weighted average shares outstanding for diluted earnings per share		11,863			11,939		12,017		11,818

Basic (loss)/earnings per share	$	(0.10	)	$	0.85	$	1.32	$	(1.61	)

Diluted (loss)/earnings per share	$	(0.10	)	$	0.84	$	1.30	$	(1.61	)

*Due to the net loss recorded in the fiscal 2022 third quarter, approximately 164,000 potentially dilutive shares would have been antidilutive and are therefore excluded from the calculation above. Due to the fiscal 2021 year-to-date net loss, approximately 92,000 shares would have been antidilutive and are therefore excluded from the calculation of earnings per share for the thirty-nine weeks ended November 1, 2020.

Income Taxes

9 Months Ended

Oct. 31, 2021

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

13. Income Taxes

We recorded income tax benefit of $403,000 for the fiscal 2022 third quarter compared to $3.0 million income tax expense for the comparable prior year quarter. The effective tax rates for the fiscal 2022 and 2021 third quarters were 24.8% and 22.9%, respectively. For the fiscal 2022 nine-month period, we recorded income tax expense of $4.6 million, compared to income tax benefit of $6.3 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 nine-month periods were 22.5% and 24.8%, 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

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+ Details

Segment Information

9 Months Ended

Oct. 31, 2021

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

14. 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											Thirty-Nine Weeks Ended
	Oct 31,						Nov 1,					Oct 31,						Nov 1,
	2021						2020					2021						2020
				% Net					% Net						% Net						% Net
Net Sales				Sales					Sales						Sales						Sales
Hooker Branded	$	56,037			42.0	%	$	47,287		31.6	%	$	157,304			34.3	%	$	113,268			29.4	%
Home Meridian		46,230			34.6	%		73,727		49.3	%		217,964			47.5	%		202,560			52.6	%
Domestic Upholstery		27,972			21.0	%		25,350		16.9	%		74,996			16.3	%		59,640			15.6	%
All Other		3,189			2.4	%		3,323		2.2	%		8,543			1.9	%		9,353			2.4	%
Consolidated	$	133,428			100	%	$	149,687		100.0	%	$	458,807			100.0	%	$	384,821			100.0	%

Gross Profit/(Loss)
Hooker Branded	$	15,366			27.4	%	$	15,446		32.7	%	$	49,639			31.6	%	$	35,894			31.7	%
Home Meridian		(1,807	)		-3.9	%		11,169		15.1	%		17,935			8.2	%		28,489			14.1	%
Domestic Upholstery		5,353			19.1	%		5,751		22.7	%		14,879			19.8	%		11,555			19.4	%
All Other		1,095			34.3	%		1,117		33.6	%		2,853			33.4	%		3,199			34.2	%
Consolidated	$	20,007			15.0	%	$	33,483		22.4	%	$	85,306			18.6	%	$	79,137			20.6	%

Operating (Loss)/Income
Hooker Branded	$	6,669			11.9	%	$	7,686		16.3	%	$	25,040			15.9	%	$	15,108			13.3	%
Home Meridian		(10,181	)		-22.0	%		2,510		3.4	%		(9,274	)		-4.3	%		(26,754	)		-13.2	%
Domestic Upholstery		1,443			5.2	%		2,421		9.6	%		3,589			4.8	%		(14,399	)		-24.1	%
All Other		341			10.7	%		420		12.6	%		820			9.6	%		1,156			12.4	%
Consolidated	$	(1,728	)		-1.3	%	$	13,037		8.7	%	$	20,175			4.4	%	$	(24,889	)		-6.5	%

Capital Expenditures
Hooker Branded	$	306					$	60				$	427					$	173
Home Meridian		2,501						27					4,956						137
Domestic Upholstery		344						82					1,233						332
All Other		10						-					10						-
Consolidated	$	3,161					$	169				$	6,626					$	642

Depreciation & Amortization
Hooker Branded	$	645					$	444				$	1,844					$	1,338
Home Meridian		710						540					1,779						1,608
Domestic Upholstery		682						700					1,991						2,097
All Other		3						3					9						9
Consolidated	$	2,040					$	1,687				$	5,623					$	5,052

	As of October 31,					As of January 31,
	2021		%Total			2021		%Total
Identifiable Assets			Assets					Assets
Hooker Branded	$	164,358		48.0	%	$	174,475		53.5	%
Home Meridian		123,991		36.2	%		100,497		30.9	%
Domestic Upholstery		53,431		15.6	%		49,370		15.2	%
All Other		666		0.2	%		1,204		0.4	%
Consolidated	$	342,446		100	%	$	325,546		100	%
Consolidated Goodwill and Intangibles		24,939					26,727
Total Consolidated Assets	$	367,385				$	352,273

Sales by product type are as follows:

	Net Sales (in thousands)
	Thirteen Weeks Ended										Thirty-Nine Weeks Ended
	October 31, 2021		%Total			November 1, 2020		%Total			October 31, 2021		%Total			November 1, 2020		%Total
Casegoods	$	75,982		57	%	$	91,457		61	%	$	271,421		59	%	$	234,905		61	%
Upholstery		57,446		43	%		58,230		39	%		187,386		41	%		149,916		39	%
	$	133,428		100	%	$	149,687		100	%	$	458,807		100	%	$	384,821		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

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+ Details

Subsequent Events

9 Months Ended

Oct. 31, 2021

Subsequent Events [Abstract]

Subsequent Events [Text Block]

15. Subsequent Events

Dividends

On December 7, 2021, our board of directors declared a quarterly cash dividend of $0.20 per share, an increase of $0.02 per share or 11% over the most recent dividend, which will be paid on December 31, 2021 to shareholders of record at December 17, 2021.

Accounts Receivable (Tables)

9 Months Ended

Oct. 31, 2021

Receivables [Abstract]

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

	October 31,			January 31,
	2021			2021

Trade accounts receivable	$	83,363		$	92,621
Other accounts receivable allowances		(7,621	)		(6,993	)
Allowance for doubtful accounts		(2,157	)		(2,338	)
Accounts receivable	$	73,585		$	83,290

Inventories (Tables)

9 Months Ended

Oct. 31, 2021

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

	October 31,			January 31,
	2021			2021
Finished furniture	$	88,815		$	81,290
Furniture in process		2,152			1,397
Materials and supplies		13,176			9,639
Inventories at FIFO		104,143			92,326
Reduction to LIFO basis		(26,279	)		(22,167	)
Inventories	$	77,864		$	70,159

Property, Plant and Equipment (Tables)

9 Months Ended

Oct. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

	Depreciable Lives	October 31,			January 31,
	(In years)	2021			2021

Buildings and land improvements	15 - 30	$	31,998		$	31,316
Computer software and hardware	3 - 10		15,592			15,012
Machinery and equipment	10		10,570			9,314
Leasehold improvements	Term of lease		11,322			10,005
Furniture and fixtures	3 - 10		5,748			2,614
Other	5		674			651
Total depreciable property at cost			75,904			68,912
Less accumulated depreciation			(47,851	)		(44,098	)
Total depreciable property, net			28,053			24,814
Land			1,077			1,077
Construction-in-progress			460			889
Property, plant and equipment, net		$	29,590		$	26,780

Fair Value Measurements (Tables)

9 Months Ended

Oct. 31, 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 October 31, 2021 and January 31, 2021, were as follows:

	Fair value at October 31, 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	$	-	$	26,133	$	-	$	26,133	$	-	$	25,365	$	-	$	25,365

Intangible Assets (Tables)

9 Months Ended

Oct. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

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

		January 31, 2021				October 31, 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		(1,743	)		(45	)		(1,788	)
Balance at October 31, 2021	$	15,929		$	613		$	16,542

Leases (Tables)

9 Months Ended

Oct. 31, 2021

Disclosure Text Block [Abstract]

Lease, Cost [Table Text Block]

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 31, 2021		November 1, 2020		October 31, 2021		November 1, 2020
Operating lease cost	$	1,794	$	2,061	$	5,712	$	6,319
Variable lease cost		53		37		162		105
Short-term lease cost		27		70		94		272
Total operating lease cost	$	1,874	$	2,168	$	5,968	$	6,696


Operating cash outflows	$	1,843	$	2,056	$	5,818	$	5,908

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 October 31, 2021 and January 31, 2021 were as follows:

	October 31, 2021		January 31, 2021
Real estate	$	52,010	$	33,651
Property and equipment		1,215		962
Total operating leases right-of-use assets	$	53,225	$	34,613


Current portion of operating lease liabilities	$	7,293	$	6,650
Long term operating lease liabilities		47,530		29,441
Total operating lease liabilities	$	54,823	$	36,091

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

	Undiscounted Future Operating Lease Payments
Remainder of 2022	$	1,796
2023		8,213
2024		6,980
2025		6,960
2026		7,032
2027 and thereafter		28,519
Total lease payments	$	59,500
Less: impact of discounting		(4,677	)
Present value of lease payments	$	54,823

Employee Benefit Plans (Tables)

9 Months Ended

Oct. 31, 2021

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs [Table Text Block]

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 31,		November 1,		October 31,		November 1,
	2021		2020		2021		2020
Net periodic benefit costs
Service cost		33		32		100		96
Interest cost		53		74		159		222
Actuarial loss		100		84		301		253

Consolidated net periodic benefit costs	$	186	$	190	$	560	$	571

Earnings Per Share (Tables)

9 Months Ended

Oct. 31, 2021

Earnings Per Share [Abstract]

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

	October 31,		January 31,
	2021		2021

Restricted shares		60		55
RSUs and PSUs		132		141
		192		196

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

	Thirteen Weeks Ended					Thirty-Nine Weeks Ended
	October 31,			November 1,		October 31,		November 1,
	2021			2020		2021		2020

Net income/(loss)	$	(1,219	)	$	10,093	$	15,691	$	(18,952	)
Less: Unvested participating restricted stock dividends		11			9		34		26
Net earnings allocated to unvested participating restricted stock		-			47		84		-
Earnings/(loss) available for common shareholders		(1,230	)		10,037		15,573		(18,978	)

Weighted average shares outstanding for basic earnings per share		11,863			11,833		11,849		11,818
Dilutive effect of unvested restricted stock, RSU and PSU awards*		-			106		168		-
Weighted average shares outstanding for diluted earnings per share		11,863			11,939		12,017		11,818

Basic (loss)/earnings per share	$	(0.10	)	$	0.85	$	1.32	$	(1.61	)

Diluted (loss)/earnings per share	$	(0.10	)	$	0.84	$	1.30	$	(1.61	)

Segment Information (Tables)

9 Months Ended

Oct. 31, 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											Thirty-Nine Weeks Ended
	Oct 31,						Nov 1,					Oct 31,						Nov 1,
	2021						2020					2021						2020
				% Net					% Net						% Net						% Net
Net Sales				Sales					Sales						Sales						Sales
Hooker Branded	$	56,037			42.0	%	$	47,287		31.6	%	$	157,304			34.3	%	$	113,268			29.4	%
Home Meridian		46,230			34.6	%		73,727		49.3	%		217,964			47.5	%		202,560			52.6	%
Domestic Upholstery		27,972			21.0	%		25,350		16.9	%		74,996			16.3	%		59,640			15.6	%
All Other		3,189			2.4	%		3,323		2.2	%		8,543			1.9	%		9,353			2.4	%
Consolidated	$	133,428			100	%	$	149,687		100.0	%	$	458,807			100.0	%	$	384,821			100.0	%

Gross Profit/(Loss)
Hooker Branded	$	15,366			27.4	%	$	15,446		32.7	%	$	49,639			31.6	%	$	35,894			31.7	%
Home Meridian		(1,807	)		-3.9	%		11,169		15.1	%		17,935			8.2	%		28,489			14.1	%
Domestic Upholstery		5,353			19.1	%		5,751		22.7	%		14,879			19.8	%		11,555			19.4	%
All Other		1,095			34.3	%		1,117		33.6	%		2,853			33.4	%		3,199			34.2	%
Consolidated	$	20,007			15.0	%	$	33,483		22.4	%	$	85,306			18.6	%	$	79,137			20.6	%

Operating (Loss)/Income
Hooker Branded	$	6,669			11.9	%	$	7,686		16.3	%	$	25,040			15.9	%	$	15,108			13.3	%
Home Meridian		(10,181	)		-22.0	%		2,510		3.4	%		(9,274	)		-4.3	%		(26,754	)		-13.2	%
Domestic Upholstery		1,443			5.2	%		2,421		9.6	%		3,589			4.8	%		(14,399	)		-24.1	%
All Other		341			10.7	%		420		12.6	%		820			9.6	%		1,156			12.4	%
Consolidated	$	(1,728	)		-1.3	%	$	13,037		8.7	%	$	20,175			4.4	%	$	(24,889	)		-6.5	%

Capital Expenditures
Hooker Branded	$	306					$	60				$	427					$	173
Home Meridian		2,501						27					4,956						137
Domestic Upholstery		344						82					1,233						332
All Other		10						-					10						-
Consolidated	$	3,161					$	169				$	6,626					$	642

Depreciation & Amortization
Hooker Branded	$	645					$	444				$	1,844					$	1,338
Home Meridian		710						540					1,779						1,608
Domestic Upholstery		682						700					1,991						2,097
All Other		3						3					9						9
Consolidated	$	2,040					$	1,687				$	5,623					$	5,052

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 October 31,					As of January 31,
	2021		%Total			2021		%Total
Identifiable Assets			Assets					Assets
Hooker Branded	$	164,358		48.0	%	$	174,475		53.5	%
Home Meridian		123,991		36.2	%		100,497		30.9	%
Domestic Upholstery		53,431		15.6	%		49,370		15.2	%
All Other		666		0.2	%		1,204		0.4	%
Consolidated	$	342,446		100	%	$	325,546		100	%
Consolidated Goodwill and Intangibles		24,939					26,727
Total Consolidated Assets	$	367,385				$	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										Thirty-Nine Weeks Ended
	October 31, 2021		%Total			November 1, 2020		%Total			October 31, 2021		%Total			November 1, 2020		%Total
Casegoods	$	75,982		57	%	$	91,457		61	%	$	271,421		59	%	$	234,905		61	%
Upholstery		57,446		43	%		58,230		39	%		187,386		41	%		149,916		39	%
	$	133,428		100	%	$	149,687		100	%	$	458,807		100	%	$	384,821		100	%

Cancellation Costs (Details) $ in Millions	3 Months Ended
Cancellation Costs (Details) $ in Millions	Oct. 31, 2021 USD ($)
Cancellation Costs [Abstract]
Increase (Decrease) in Raw Materials, Packaging Materials and Supplies Inventories	$ (2.6)

Accounts Receivable (Details) - Schedule of Accounts, Notes, Loans and Financing Receivable - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Schedule of Accounts, Notes, Loans and Financing Receivable [Abstract]
Trade accounts receivable	$ 83,363	$ 92,621
Other accounts receivable allowances	(7,621)	(6,993)
Allowance for doubtful accounts	(2,157)	(2,338)
Accounts receivable	$ 73,585	$ 83,290

Inventories (Details) - Schedule of Inventory, Current - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Schedule of Inventory, Current [Abstract]
Finished furniture	$ 88,815	$ 81,290
Furniture in process	2,152	1,397
Materials and supplies	13,176	9,639
Inventories at FIFO	104,143	92,326
Reduction to LIFO basis	(26,279)	(22,167)
Inventories	$ 77,864	$ 70,159

Property, Plant and Equipment (Details) - Property, Plant and Equipment - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2021	Jan. 31, 2021
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 75,904	$ 68,912
Less accumulated depreciation	(47,851)	(44,098)
Total depreciable property, net	28,053	24,814
Land	1,077	1,077
Construction-in-progress	460	889
Property, plant and equipment, net	29,590	26,780
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	31,998	31,316
Computer Software and Hardware [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	15,592	15,012
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 10,570	9,314
Property, Plant and Equipment, Depreciable Lives	10
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 11,322	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	$ 5,748	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	Oct. 31, 2021	Jan. 31, 2021
Assets measured at fair value
Company-owned life insurance	$ 26,133	$ 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	26,133	25,365
Fair Value, Inputs, Level 3 [Member]
Assets measured at fair value
Company-owned life insurance	$ 0	$ 0

Intangible Assets (Details) $ in Thousands	Oct. 31, 2021 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	$ 596

Intangible Assets (Details) - Schedule of Indefinite-Lived Intangible Assets - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Oct. 31, 2021	Nov. 01, 2020	Jan. 31, 2021
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 0	$ 0	$ 0	$ (39,568)
Goodwill	490		490		$ 490
Trademarks and trade names	24,449		24,449		$ 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		9 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Oct. 31, 2021	Nov. 01, 2020
Finite-Lived Intangible Assets [Line Items]
Balance			$ 18,330
Amortization	$ (596)	$ (596)	(1,788)	$ (1,788)
Balance	16,542		16,542
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Balance			17,672
Amortization			(1,743)
Balance	15,929		15,929
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Balance			658
Amortization			(45)
Balance	$ 613		$ 613

Leases (Details) - USD ($)	3 Months Ended		9 Months Ended
Leases (Details) - USD ($)	Oct. 31, 2021	Nov. 01, 2020	Oct. 31, 2021	Nov. 01, 2020	Aug. 01, 2021
Leases (Details) [Line Items]
Operating Lease, Lease Income	$ 266,000	$ 144,000	$ 561,000	$ 432,000
Operating Lease, Weighted Average Remaining Lease Term		8 years 6 months		8 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	1.93%		1.93%
Lessee, Operating Lease, Term of Contract					10 years
Operating Lease, Payments	$ 1,843,000	$ 2,056,000	$ 5,818,000	$ 5,908,000
Minimum [Member]
Leases (Details) [Line Items]
Operating Lease, Payments				$ 23,700,000
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		9 Months Ended
Leases (Details) - Lease, Cost - USD ($) $ in Thousands	Oct. 31, 2021	Nov. 01, 2020	Oct. 31, 2021	Nov. 01, 2020
Leases (Details) - Lease, Cost [Line Items]
Operating lease cost	$ 1,874	$ 2,168	$ 5,968	$ 6,696
Operating cash outflows	1,843	2,056	5,818	5,908
Operating Lease Costs [Member]
Leases (Details) - Lease, Cost [Line Items]
Operating lease cost	1,794	2,061	5,712	6,319
Variable Lease Cost [Member]
Leases (Details) - Lease, Cost [Line Items]
Operating lease cost	53	37	162	105
Leases Less Then 12 Months [Member]
Leases (Details) - Lease, Cost [Line Items]
Operating lease cost	$ 27	$ 70	$ 94	$ 272

Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities [Line Items]
Operating leases right-of-use assets	$ 53,225	$ 34,613
Current portion of operating lease liabilities	7,293	6,650
Long term operating lease liabilities	47,530	29,441
Total operating lease liabilities	54,823	36,091
Real Estate [Member]
Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities [Line Items]
Operating leases right-of-use assets	52,010	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	$ 1,215	$ 962

Leases (Details) - Lessee, Operating Lease, Liability, Maturity - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Lessee, Operating Lease, Liability, Maturity [Abstract]
Remainder of 2022	$ 1,796
2023	8,213
2024	6,980
2025	6,960
2026	7,032
2027 and thereafter	28,519
Total lease payments	59,500
Less: impact of discounting	(4,677)
Present value of lease payments	$ 54,823	$ 36,091

Long-Term Debt (Details) $ in Millions	Oct. 31, 2021 USD ($)
Long-Term Debt (Details) [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	$ 27.9
Letters of Credit Outstanding, Amount	7.1
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	9 Months Ended
Employee Benefit Plans (Details)	Oct. 31, 2021 USD ($)	Oct. 31, 2021 USD ($)
Retirement Benefits [Abstract]
Defined Benefit Plan, Benefit Obligation, Benefits Paid	$ 259,000	$ 803,000
Defined Benefit Plan, Expected Future Benefit Payment, Remainder of Fiscal Year	$ 230,000	$ 230,000

Employee Benefit Plans (Details) - Schedule of Net Benefit Costs - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Oct. 31, 2021	Nov. 01, 2020
Net periodic benefit costs
Service cost	$ 33	$ 32	$ 100	$ 96
Interest cost	53	74	159	222
Actuarial loss	100	84	301	253
Consolidated net periodic benefit costs	$ 186	$ 190	$ 560	$ 571

Earnings Per Share (Details) - shares	3 Months Ended	9 Months Ended
Earnings Per Share (Details) - shares	Oct. 31, 2021	Oct. 31, 2021
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	164,000	92,000

Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units - shares shares in Thousands	Oct. 31, 2021	Jan. 31, 2021
Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units [Line Items]
Number of Shares Outstanding	192	196
Restricted Stock [Member]
Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units [Line Items]
Number of Shares Outstanding	60	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	132	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

9 Months Ended

Oct. 31, 2021

Nov. 01, 2020

Oct. 31, 2021

Nov. 01, 2020

Schedule of Earnings Per Share, Basic and Diluted [Abstract]

Net income/(loss)

$ (1,219)

$ 10,093

$ 15,691

$ (18,952)

Less: Unvested participating restricted stock dividends

Net earnings allocated to unvested participating restricted stock

Earnings/(loss) available for common shareholders

$ (1,230)

$ 10,037

$ 15,573

$ (18,978)

Weighted average shares outstanding for basic earnings per share (in Shares)

11,863

11,833

11,849

11,818

Dilutive effect of unvested restricted stock, RSU and PSU awards* (in Shares)

^[1]

106

168

Weighted average shares outstanding for diluted earnings per share (in Shares)

11,863

11,939

12,017

11,818

Basic (loss)/earnings per share (in Dollars per share)

$ (0.1)

$ 0.85

$ 1.32

$ (1.61)

Diluted (loss)/earnings per share (in Dollars per share)

$ (0.1)

$ 0.84

$ 1.3

$ (1.61)

[1]

Due to the net loss recorded in the fiscal 2022 third quarter, approximately 164,000 potentially dilutive shares would have been antidilutive and are therefore excluded from the calculation above. Due to the fiscal 2021 year-to-date net loss, approximately 92,000 shares would have been antidilutive and are therefore excluded from the calculation of earnings per share for the thirty-nine weeks ended November 1, 2020.

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Nov. 01, 2020	Oct. 31, 2021	Nov. 01, 2020
Income Taxes (Details) [Line Items]
Income Tax Expense (Benefit)	$ (403)	$ 2,996	$ 4,563	$ (6,263)
Effective Income Tax Rate Reconciliation, Percent	24.80%	22.90%	22.50%	24.80%
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)	9 Months Ended
Segment Information (Details)	Oct. 31, 2021
Segment Reporting [Abstract]
Number of Reportable Segments	3

Segment Information (Details) - Segment Reporting Information - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Oct. 31, 2021	Nov. 01, 2020
Segment Reporting Information [Line Items]
Net Sales	$ 133,428	$ 149,687	$ 458,807	$ 384,821
% of Net Sales	100.00%	100.00%	100.00%	100.00%
Gross Profit/(Loss)
Gross Profit	$ 20,007	$ 33,483	$ 85,306	$ 79,137
% of Net Sales, Gross Profit	15.00%	22.40%	18.60%	20.60%
Operating (Loss)/Income
Operating Income	$ (1,728)	$ 13,037	$ 20,175	$ (24,889)
% of Net Sales, Operating Income	(1.30%)	8.70%	4.40%	(6.50%)
Capital Expenditures
Capital Expenditures	$ 3,161	$ 169	$ 6,626	$ 642
Depreciation & Amortization
Depreciation & Amortization	2,040	1,687	5,623	5,052
Hooker Branded [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 56,037	$ 47,287	$ 157,304	$ 113,268
% of Net Sales	42.00%	31.60%	34.30%	29.40%
Gross Profit/(Loss)
Gross Profit	$ 15,366	$ 15,446	$ 49,639	$ 35,894
% of Net Sales, Gross Profit	27.40%	32.70%	31.60%	31.70%
Operating (Loss)/Income
Operating Income	$ 6,669	$ 7,686	$ 25,040	$ 15,108
% of Net Sales, Operating Income	11.90%	16.30%	15.90%	13.30%
Capital Expenditures
Capital Expenditures	$ 306	$ 60	$ 427	$ 173
Depreciation & Amortization
Depreciation & Amortization	645	444	1,844	1,338
Home Meridian International [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 46,230	$ 73,727	$ 217,964	$ 202,560
% of Net Sales	34.60%	49.30%	47.50%	52.60%
Gross Profit/(Loss)
Gross Profit	$ (1,807)	$ 11,169	$ 17,935	$ 28,489
% of Net Sales, Gross Profit	(3.90%)	15.10%	8.20%	14.10%
Operating (Loss)/Income
Operating Income	$ (10,181)	$ 2,510	$ (9,274)	$ (26,754)
% of Net Sales, Operating Income	(22.00%)	3.40%	(4.30%)	(13.20%)
Capital Expenditures
Capital Expenditures	$ 2,501	$ 27	$ 4,956	$ 137
Depreciation & Amortization
Depreciation & Amortization	710	540	1,779	1,608
Upholstery [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 27,972	$ 25,350	$ 74,996	$ 59,640
% of Net Sales	21.00%	16.90%	16.30%	15.60%
Gross Profit/(Loss)
Gross Profit	$ 5,353	$ 5,751	$ 14,879	$ 11,555
% of Net Sales, Gross Profit	19.10%	22.70%	19.80%	19.40%
Operating (Loss)/Income
Operating Income	$ 1,443	$ 2,421	$ 3,589	$ (14,399)
% of Net Sales, Operating Income	5.20%	9.60%	4.80%	(24.10%)
Capital Expenditures
Capital Expenditures	$ 344	$ 82	$ 1,233	$ 332
Depreciation & Amortization
Depreciation & Amortization	682	700	1,991	2,097
Other Segments [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 3,189	$ 3,323	$ 8,543	$ 9,353
% of Net Sales	2.40%	2.20%	1.90%	2.40%
Gross Profit/(Loss)
Gross Profit	$ 1,095	$ 1,117	$ 2,853	$ 3,199
% of Net Sales, Gross Profit	34.30%	33.60%	33.40%	34.20%
Operating (Loss)/Income
Operating Income	$ 341	$ 420	$ 820	$ 1,156
% of Net Sales, Operating Income	10.70%	12.60%	9.60%	12.40%
Capital Expenditures
Capital Expenditures	$ 10	$ 0	$ 10	$ 0
Depreciation & Amortization
Depreciation & Amortization	$ 3	$ 3	$ 9	$ 9

Segment Information (Details) - Assets from Segments to Consolidated - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 342,446	$ 325,546
% Total Assets	100.00%	100.00%
Consolidated Goodwill and Intangibles	$ 24,939	$ 26,727
Total Consolidated Assets	367,385	352,273
Hooker Branded [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 164,358	$ 174,475
% Total Assets	48.00%	53.50%
Home Meridian International [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 123,991	$ 100,497
% Total Assets	36.20%	30.90%
Upholstery [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 53,431	$ 49,370
% Total Assets	15.60%	15.20%
Other Segments [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 666	$ 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.

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+ Details

Segment Information (Details) - Revenue from External Customers by Products and Services - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Nov. 01, 2020	Oct. 31, 2021	Nov. 01, 2020
Revenue from External Customer [Line Items]
Net Sales	$ 133,428	$ 149,687	$ 458,807	$ 384,821
% Total	100.00%	100.00%	100.00%	100.00%
Casegoods [Member]
Revenue from External Customer [Line Items]
Net Sales	$ 75,982	$ 91,457	$ 271,421	$ 234,905
% Total	57.00%	61.00%	59.00%	61.00%
Upholstery [Member]
Revenue from External Customer [Line Items]
Net Sales	$ 57,446	$ 58,230	$ 187,386	$ 149,916
% Total	43.00%	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]	Dec. 07, 2021 $ / shares
Subsequent Events (Details) [Line Items]
Dividends Payable, Date Declared	Dec. 07, 2021
Dividends Payable, Date to be Paid	Dec. 31, 2021
Dividends Payable, Date of Record	Dec. 17, 2021
Common Stock, Dividends, Per Share, Declared	$ 0.2
Common Stock, Dividends, Increase, Per Share	$ 0.02
Common Stock, Dividends, Increase, Percentage	11.00%