12:23 PM EDT, 03/24/2025 (MT Newswires) -- Hooker Furnishings ( HOFT ) said Monday that it has decided to close its distribution center in Savannah, Georgia, and consolidate operations in existing facilities.

Hooker said the exit will result in preliminary net charges of about $1.6 million to $2 million in fiscal 2025 and $3 million to $4 million in fiscal 2026.

Preliminary savings in net operating expenses are estimated at $750,000 to $1 million in fiscal 2026 while preliminary annualized savings of $4 million to $4.5 million are expected beginning fiscal 2027, the company said.

Price: 11.56, Change: -0.05, Percent Change: -0.43