Hooker Furnishings (HOFT) 10-Q 14 Jun 19 2020 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	May 05, 2019	Jun. 07, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	Hooker Furniture Corp
Document Type	10-Q
Current Fiscal Year End Date	--01-31
Entity Common Stock, Shares Outstanding		11,817,229
Amendment Flag	false
Entity Central Index Key	0001077688
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	May 5, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Ex Transition Period	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	May 05, 2019	Feb. 03, 2019
Current assets
Cash and cash equivalents	$ 28,254	$ 11,435
Trade accounts receivable, net	78,244	112,557
Inventories	110,765	105,204
Prepaid expenses and other current assets	6,957	5,735
Total current assets	224,220	234,931
Property, plant and equipment, net	30,638	29,482
Cash surrender value of life insurance policies	24,533	23,816
Deferred taxes	2,170	4,522
Operating leases right-of-use assets	43,894	0
Intangible assets, net	35,159	35,755
Goodwill	40,058	40,058
Other assets	1,247	1,152
Total non-current assets	177,699	134,785
Total assets	401,919	369,716
Current liabilities
Current portion of term loans	5,829	5,829
Trade accounts payable	33,416	40,838
Accrued salaries, wages and benefits	4,736	8,002
Income tax accrual	1,292	3,159
Customer deposits	6,140	3,023
Current portion of lease liabilities	5,847	0
Other accrued expenses	2,901	3,564
Total current liabilities	60,161	64,415
Long term debt	28,171	29,628
Deferred compensation	10,791	11,513
Lease liabilities	38,171	0
Other long-term liabilities	3	984
Total long-term liabilities	77,136	42,125
Total liabilities	137,297	106,540
Shareholders’ equity
Common stock, no par value, 20,000 shares authorized, 11,816 and 11,785 shares issued and outstanding on each date	50,748	49,549
Retained earnings	213,599	213,380
Accumulated other comprehensive income	275	247
Total shareholders’ equity	264,622	263,176
Total liabilities and shareholders’ equity	$ 401,919	$ 369,716

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parentheticals) - shares shares in Thousands	May 05, 2019	Feb. 03, 2019
Common stock, shares authorized	20,000	20,000
Common stock, shares issued	11,816	11,785
Common stock, shares outstanding	11,816	11,785

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	May 05, 2019	Apr. 29, 2018
Net sales	$ 135,518	$ 142,892
Cost of sales	110,001	110,926
Gross profit	25,517	31,966
Selling and administrative expenses	22,016	21,990
Intangible asset amortization	596	596
Operating income	2,905	9,380
Other (expense)/income, net	(62)	5
Interest expense, net	341	382
Income before income taxes	2,502	9,003
Income tax expense	515	1,849
Net income	$ 1,987	$ 7,154
Earnings per share
Basic (in Dollars per share)	$ 0.17	$ 0.61
Diluted (in Dollars per share)	$ 0.17	$ 0.61
Weighted average shares outstanding:
Basic (in Shares)	11,769	11,750
Diluted (in Shares)	11,805	11,773
Cash dividends declared per share (in Dollars per share)	$ 0.15	$ 0.14

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2019	Apr. 29, 2018
Net Income	$ 1,987	$ 7,154
Other comprehensive income (loss):
Amortization of actuarial loss	37	43
Income tax effect on amortization	(9)	(11)
Adjustments to net periodic benefit cost	28	32
Reclassification of tax effects due to the adoption of ASU 2018-02	0	111
Total Comprehensive Income	$ 2,015	$ 7,297

CONDISENSED CONSOLIDATED STATEM

CONDISENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2019	Apr. 29, 2018
Operating Activities:
Net income	$ 1,987	$ 7,154
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,716	1,828
Gain on disposal of assets	(274)	(19)
Deferred income tax expense	2,344	1,638
Noncash restricted stock and performance awards	463	343
Provision/(benefit from) for doubtful accounts and sales allowances	862	(1,990)
Gain on life insurance policies	(555)	(508)
Changes in assets and liabilities:
Trade accounts receivable	33,451	20,611
Inventories	(5,561)	(321)
Prepaid expenses and other current assets	(3,186)	(190)
Trade accounts payable	(8,165)	2,042
Accrued salaries, wages, and benefits	(3,266)	(3,005)
Accrued income taxes	(1,867)	189
Customer deposits	3,117	387
Operating lease liabilities	(167)	0
Other accrued expenses	(664)	424
Deferred compensation	51	(43)
Other long-term liabilities	0	39
Net cash provided by operating activities	20,286	28,579
Investing Activities:
Purchases of property and equipment	(1,527)	(370)
Proceeds received on notes from sale of assets	1,449	30
Proceeds received on life insurance policies	0	1,099
Premiums paid on life insurance policies	(157)	(155)
Net cash (used in)/provided by investing activities	(235)	604
Financing Activities:
Payments for long-term debt	(1,464)	(11,893)
Cash dividends paid	(1,768)	(1,647)
Net cash used in financing activities	(3,232)	(13,540)
Net increase in cash and cash equivalents	16,819	15,643
Cash and cash equivalents - beginning of year	11,435	30,915
Cash and cash equivalents - end of quarter	28,254	46,558
Supplemental disclosure of cash flow information:
Cash paid for income taxes	38	23
Cash paid for interest, net	329	324
Increase in property and equipment through accrued purchases	$ 743	$ 166

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Jan. 28, 2018	$ 48,970	$ 180,122	$ 369	$ 229,461
Balance (in Shares) at Jan. 28, 2018	11,762
Net income		7,154		7,154
Prior year adjustment for ASU 2014-09 and 2018-02		99	111	210
Unrealized loss on defined benefit plan, net of tax			32	32
Cash dividends paid and accrued		(1,647)		(1,647)
Restricted stock grants, net of forfeitures	$ 6			6
Restricted stock grants, net of forfeitures (in Shares)	6
Restricted stock compensation cost	$ 106			106
Balance at Apr. 29, 2018	$ 49,082	185,728	512	235,322
Balance (in Shares) at Apr. 29, 2018	11,768
Balance at Feb. 03, 2019	$ 49,549	213,380	247	$ 263,176
Balance (in Shares) at Feb. 03, 2019	11,785			11,785
Net income		1,987		$ 1,987
Unrealized loss on defined benefit plan, net of tax			28	28
Cash dividends paid and accrued		(1,768)		(1,768)
Restricted stock grants, net of forfeitures	$ 344			344
Restricted stock grants, net of forfeitures (in Shares)	31
Restricted stock compensation cost	$ 174			174
Recognition of PSUs as equity-based awards	681			681
Balance at May. 05, 2019	$ 50,748	$ 213,599	$ 275	$ 264,622
Balance (in Shares) at May. 05, 2019	11,816			11,816

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Unaudited) (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2019	Apr. 29, 2018
Unrealized gain loss on defined benefit plan, tax	$ (9)	$ (11)
Cash dividends paid and accrued, per share	$ 0.15	$ 0.14

NOTE 1 - Preparation of Interim

NOTE 1 - Preparation of Interim Financial Statements	3 Months Ended
	May 05, 2019
Disclosure Text Block [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 February 3, 2019 (“2019 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 thirteen-week period (also referred to as “three months,” “three-month period,” “quarter,” “first quarter” or “quarterly period”) that began February 4, 2019 and ended May 5, 2019. This report discusses our results of operations for this period compared to the thirteen-week period that began January 29, 2018 and ended April 29, 2018; and our financial condition as of May 5, 2019 compared to February 3, 2019. References in these notes to the condensed consolidated financial statements of the Company to: ■ the 2020 fiscal year and comparable terminology mean the fifty-two-week fiscal year that began February 4, 2019 and will end February 2, 2020; and ■ the 2019 fiscal year and comparable terminology mean the fifty-three-week fiscal year that began January 29, 2018 and ended February 3, 2019.

NOTE 2 - Recently Adopted Accou

NOTE 2 - Recently Adopted Accounting Policies	3 Months Ended
	May 05, 2019
Accounting Changes and Error Corrections [Abstract]
Accounting Changes and Error Corrections [Text Block]	2. Recently Adopted Accounting Policies In February 2016, the FASB issued ASU No. 2016-02, Leases Land Easement Practical Expedient for Transition to Topic 842 Codification Improvements to Topic 842, Leases Targeted Improvements

NOTE 3 - Accounts Receivable

NOTE 3 - Accounts Receivable	3 Months Ended
	May 05, 2019
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	3. Accounts Receivable May 5, February 3, 2019 2019 Trade accounts receivable $ 84,259 $ 117,732 Other accounts receivable allowances (5,098 ) (4,267 ) Allowance for doubtful accounts (917 ) (908 ) Accounts receivable $ 78,244 $ 112,557

NOTE 4 - Inventories

NOTE 4 - Inventories	3 Months Ended
	May 05, 2019
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	4. Inventories May 5, February 3, 2019 2019 Finished furniture $ 119,582 $ 112,847 Furniture in process 1,528 1,825 Materials and supplies 10,325 10,896 Inventories at FIFO 131,435 125,568 Reduction to LIFO basis (20,670 ) (20,364 ) Inventories $ 110,765 $ 105,204

NOTE 5 - Property, Plant and Eq

NOTE 5 - Property, Plant and Equipment	3 Months Ended
	May 05, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	5. Property, Plant and Equipment Depreciable Lives May 5, February 3, (In years) 2019 2019 Buildings and land improvements 15 - 30 $ 24,717 $ 24,588 Computer software and hardware 3 - 10 18,910 18,719 Machinery and equipment 10 8,983 8,934 Leasehold improvements Term of lease 9,683 9,376 Furniture and fixtures 3 - 10 2,388 2,318 Other 5 665 665 Total depreciable property at cost 65,346 64,600 Less accumulated depreciation 41,034 39,925 Total depreciable property, net 24,312 24,675 Land 1,067 1,067 Construction-in-progress 5,259 3,740 Property, plant and equipment, net $ 30,638 $ 29,482

NOTE 6 - Fair Value Measurement

NOTE 6 - Fair Value Measurements	3 Months Ended
	May 05, 2019
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 May 5, 2019 and February 3, 2019, 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. On January 30, 2019, our Board of Directors voted to terminate the Pension Plan. Pension Plan termination is an eighteen to twenty-four-month process, that involves seeking certain approvals from both the IRS and Pension Benefit Guaranty Corporation (“PBGC”). As of February 3, 2019, current Pension Plan assets are invested in bond funds and are measured at fair value using Level 1 inputs, which are quoted prices in active markets. As of February 3, 2019, the funded status for this plan was $86,000 shown on the “Other assets” line of our condensed consolidated balance sheets. See Note 10. Employee Benefit Plans for additional information about the Plan. Our assets measured at fair value on a recurring basis at May 5, 2019 and February 3, 2019, were as follows: Fair value at May 5, 2019 Fair value at February 3, 2019 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 $ - $ 24,533 $ - $ 24,533 $ - $ 23,816 $ - $ 23,816 Pension Plan assets* 10,992 - - 10,992 10,992 - - 10,992 * as of February 3, 2019 for Pension Plan assets.

NOTE 7 - Intangible Assets

NOTE 7 - Intangible Assets	3 Months Ended
	May 05, 2019
Disclosure Text Block [Abstract]
Intangible Assets Disclosure [Text Block]	7. Intangible Assets May 5, February 3, Non-amortizable Intangible Assets Segment 2019 2019 Goodwill Home Meridian $ 23,187 $ 23,187 Goodwill All Other 16,871 16,871 Total Goodwill 40,058 40,058 Trademarks and trade names - Home Meridian Home Meridian 11,400 11,400 Trademarks and trade names - Bradington-Young All Other 861 861 Trademarks and trade names - Sam Moore All Other 396 396 Total Trademarks and trade names $ 12,657 $ 12,657 Total non-amortizable assets $ 52,715 $ 52,715 Our amortizable intangible assets are recorded in our Home Meridian segment and All Other. The carrying amounts and changes therein of those amortizable intangible assets were as follows: Amortizable Intangible Assets Customer Relationships Trademarks Totals Balance at February 3, 2019 $ 22,320 $ 778 $ 23,098 Amortization (581 ) (15 ) (596 ) Balance at May 5, 2019 $ 21,739 $ 763 $ 22,502 For the remainder of fiscal 2020, amortization expense is expected to be approximately $1.8 million.

NOTE 8 - Leases

NOTE 8 - Leases	3 Months Ended
	May 05, 2019
ASU 2016-02 Transition [Abstract]
Lessee, Operating Lease, Disclosure [Table Text Block]	8. Lease s On February 4, 2019, we adopted Accounting Standards Codification Topic 842 Leases. Leases are classified as either finance leases or operating leases based on criteria in Topic 842. All of our leases are classified as operating leases. We do not currently have finance leases but could in the future. Operating lease right-of-use ("ROU") assets and liabilities are recognized on the adoption date based on the present value of lease payments over the remaining lease term. As interest rates are not explicitly stated or implicit in any of our leases, we utilized our incremental borrowing rate at the adoption date of February 4, 2019, which was one-month LIBOR plus 1.5%. ROU assets also include any lease payments made and exclude lease incentives. Lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. At the inception of a lease, we allocate the consideration in the contract to each lease and non-lease component based on the component's relative stand-alone price to determine the lease payments. Lease and non-lease components are accounted for separately. Lease expense for operating leases is recognized on a straight-line basis over the lease term. Included in lease expense are any variable lease payments incurred in the period that were not included in the initial lease liability. Some of our real estate leases contain variable lease payments, including payments based on the percentage increase in the Consumer Price Index for Urban Consumers (“CPI-U”). We used February 2019 CPI-U issued by the US Department of Labor’s Bureau of Labor Statistics to measure lease payments and calculate lease liabilities. Additional payments based on the change in an index or rate, or payments based on a change in our portion of the operating expenses, including real estate taxes and insurance, are recorded when incurred. We have a sub-lease at one of our warehouses. In accordance with the provisions of Topic 842, since we have not been relieved as the primary obligor of the warehouse lease, we cannot net the sublease income against our lease payment to calculate the lease liability and ROU asset. Our practice has been, and we will continue to, straight-line the sub-lease income over the term of the sublease. We recognized $130,000 sub-lease income for the three-month period ended May 5, 2019. Our leases have remaining lease terms of less than one year to seven years, some of which include options to extend the leases for up to seven years. We have elected not to recognize ROU assets and lease liabilities that arise from short term leases for any class of underlying asset. Short term leases are leases with lease terms of 12 months or less with either (a) no renewal option or (b) a renewal option which we are not reasonably certain to exercise. We have elected to adopt a package of practical expedients provided under Topic 842 that allows us not to reassess: (a) whether expired or existing contracts contain a lease under the new definition of a lease; (b) lease classification of expired or existing leases; and (c) whether previously capitalized initial direct costs would qualify for capitalization under Topic 842. The components of lease cost and supplemental cash flow information for leases for the three-months ended May 5, 2019 were: 13 Weeks Ended May 5, 2019 Operating lease cost $ 2,076 Short-term lease cost 113 Total operating lease cost $ 2,189 Operating cash outflows $ 2,386 The right-of-use assets and lease liabilities recorded on our Condensed Consolidated Balance Sheets as of May 5, 2019 were: May 5, 2019 Real estate $ 42,679 Property and equipment 1,215 Total operating leases right-of-use assets $ 43,894 Current portion of operating lease liabilities $ 5,847 Long term operating lease liabilities 38,171 Total operating lease liabilities $ 44,018 Weighted-average remaining lease term is 7.8 years. We used our incremental borrowing rate which is LIBOR plus 1.5% at the adoption date. The weighted-average discount rate is 4.014%. The following table reconciles the undiscounted future lease payments for operating leases to the operating lease liabilities recorded in the condensed consolidated balance sheet at May 5, 2019: Undiscounted Future Operating Lease Payments Remainder of 2019 $ 5,775 2020 7,689 2021 7,072 2022 5,478 2023 5,239 2024 and thereafter 20,251 Total lease payments $ 51,504 Less: impact of discounting (7,486 ) Present value of lease payments $ 44,018 As of May 5, 2019, we did not have any additional operating or finance leases that had not yet commenced.

NOTE 9 - Long-Term Debt

NOTE 9 - Long-Term Debt	3 Months Ended
	May 05, 2019
Disclosure Text Block [Abstract]
Long-term Debt [Text Block]	9. Long-Term Debt As of May 5, 2019, we had an aggregate $27.7 million available under our revolving credit facility to fund working capital needs. Standby letters of credit in the aggregate amount of $2.3 million, used to collateralize certain insurance arrangements and for imported product purchases, were outstanding under the revolving credit facility as of May 5, 2019. There were no additional borrowings outstanding under the revolving credit facility as of May 5, 2019.

NOTE 10 - Employee Benefit Plan

NOTE 10 - Employee Benefit Plans	3 Months Ended
	May 05, 2019
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	10. Employee Benefit Plans We maintain three retirement plans for the benefit of certain former and current employees, including a supplemental retirement income plan (“SRIP”) for certain former and current employees of Hooker Furniture Corporation, as well as two plans for the benefit of certain and former employees of Pulaski Furniture Corporation, which we assumed when we acquired the business of Home Meridian International. These legacy pension plan obligations include: ■ the Pulaski Furniture Corporation Supplemental Executive Retirement Plan (“SERP”) for certain former executives. The SERP is an unfunded plan and all benefits are paid solely out of our general assets; and ■ the Pension Plan for former Pulaski Furniture Corporation employees. The SRIP, SERP and Pension Plan are all “frozen” and we do not expect to add additional participants to any of these plans in the future. On January 30, 2019, our Board of Directors voted to terminate the Pension Plan. Pension Plan termination is an eighteen to twenty-four-month process, that involves seeking certain approvals from both the IRS and PBGC. Once we receive the appropriate approvals, an insurance company will be selected to provide annuities for participants at an amount equal to their current monthly pension benefit. Upon settlement of the pension liability, we will reclassify the related pension losses currently recorded in accumulated other comprehensive loss, to the consolidated statements of operations. We expect to record pension settlement expenses against earnings which could adversely affect our earnings. Additionally, there could be excess costs to terminate the plan. We do not expect these expenses and costs to be material. As of May 5, 2019, current Pension Plan assets are invested in bond funds and are measured at fair value using Level 1 inputs, which are quoted prices in active markets. Thirteen Weeks Ended May 5, April 29, 2019 2018 Net periodic benefit costs Service cost 26 82 Interest cost 205 207 Actuarial loss 37 43 Expected return on pension plan assets (101 ) (144 ) Expected administrative expenses 97 70 Consolidated net periodic benefit costs $ 264 $ 258 The expected long-term rate of return on Pension Plan assets is 3.8% as of The SRIP and SERP plans are unfunded plans. We paid $178,000 in the first quarter and expect to pay a total of approximately $506,000 in benefit payments from our general assets during the remainder of fiscal 2020 to fund SRIP and SERP payments.

NOTE 11 - Earnings Per Share

NOTE 11 - Earnings Per Share	3 Months Ended
	May 05, 2019
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 2019 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: May 5, February 3, 2019 2019 Restricted shares 33 22 RSUs and PSUs 57 14 90 36 The number of outstanding restricted shares increased due primarily to grants of restricted shares to a larger population of our non-executive employees as an incentive for retention and alignment of individual performance to our values. The number of RSUs and PSUs increased primarily due to the addition of three additional executive officers in the second quarter of fiscal 2019. 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 May 5, April 29, 2019 2018 Net income $ 1,987 $ 7,154 Less: Unvested participating restricted stock dividends 4 2 Net earnings allocated to unvested participating restricted stock 4 9 Earnings available for common shareholders 1,979 7,143 Weighted average shares outstanding for basic earnings per share 11,769 11,750 Dilutive effect of unvested restricted stock, RSU and PSU awards 36 23 Weighted average shares outstanding for diluted earnings per share 11,805 11,773 Basic earnings per share $ 0.17 $ 0.61 Diluted earnings per share $ 0.17 $ 0.61

NOTE 12 - Income Taxes

NOTE 12 - Income Taxes	3 Months Ended
	May 05, 2019
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	12. Income Taxes We recorded income tax expense of $515,000 for the fiscal 2020 first quarter compared to $1.8 million for the comparable prior year period. The effective tax rates for the fiscal 2020 and 2019 first quarters were 20.6% and 20.5%, respectively. The net unrecognized tax benefits as of May 5, 2019 and February 3, 2019, which, if recognized, would affect our effective tax rate are $39,000 and $38,000, respectively. Tax years ending January 31, 2016 through February 3, 2019 remain subject to examination by federal and state taxing authorities.

NOTE 13 - Segment Information

NOTE 13 - Segment Information	3 Months Ended
	May 05, 2019
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	13. Segment Information For financial reporting purposes, we are organized into two reportable segments and “All Other”, which includes the remainder of our businesses: ■ Hooker Branded ■ Home Meridian ■ All Other The following table presents segment information for the periods, and as of the dates, indicated: Thirteen Weeks Ended May 5, 2019 April 29, 2018 % Net % Net Net Sales Sales Sales Hooker Branded $ 39,600 29.2 % $ 42,772 29.9 % Home Meridian 67,630 49.9 % 70,596 49.4 % All Other 28,288 20.9 % 29,524 20.7 % Consolidated $ 135,518 100.0 % $ 142,892 100.0 % Gross Profit Hooker Branded $ 12,556 31.7 % $ 14,422 33.7 % Home Meridian 5,903 8.7 % 10,416 14.8 % All Other 7,058 25.0 % 7,128 24.1 % Consolidated $ 25,517 18.8 % $ 31,966 22.4 % Operating Income Hooker Branded $ 5,177 13.1 % $ 6,726 15.7 % Home Meridian (4,993 ) -7.4 % (288 ) -0.4 % All Other 2,721 9.6 % 2,942 10.0 % Consolidated $ 2,905 2.1 % $ 9,380 6.6 % Capital Expenditures Hooker Branded $ 125 $ 210 Home Meridian 117 36 All Other 1,285 124 Consolidated $ 1,527 $ 370 Depreciation & Amortization Hooker Branded $ 492 $ 484 Home Meridian 531 591 All Other 693 753 Consolidated $ 1,716 $ 1,828 As of May 5, As of February 3, 2019 %Total 2019 %Total Identifiable Assets Assets Assets Hooker Branded $ 148,866 45.6 % $ 108,445 36.9 % Home Meridian 135,312 41.4 % 144,277 49.1 % All Other 42,524 13.0 % 41,181 14.0 % Consolidated $ 326,702 100.0 % $ 293,903 100.0 % Consolidated Goodwill and Intangibles 75,217 75,813 Total Consolidated Assets $ 401,919 $ 369,716 Sales by product type are as follows: Net Sales (in thousands) Thirteen Weeks Ended May 5, 2019 %Total April 29, 2018 %Total Casegoods $ 84,464 62 % $ 89,492 63 % Upholstery 51,054 38 % 53,400 37 % $ 135,518 100 % $ 142,892 100 %

NOTE 14 - Subsequent Events

NOTE 14 - Subsequent Events	3 Months Ended
	May 05, 2019
Subsequent Events [Abstract]
Subsequent Events [Text Block]	14. Subsequent E vents Dividends On June 5, 2019, our board of directors declared a quarterly cash dividend of $0.15 per share, payable on June 30, 2019 to shareholders of record at June 17, 2019.

NOTE 3 - Accounts Receivable (T

NOTE 3 - Accounts Receivable (Tables)	3 Months Ended
	May 05, 2019
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	May 5, February 3, 2019 2019 Trade accounts receivable $ 84,259 $ 117,732 Other accounts receivable allowances (5,098 ) (4,267 ) Allowance for doubtful accounts (917 ) (908 ) Accounts receivable $ 78,244 $ 112,557

NOTE 4 - Inventories (Tables)

NOTE 4 - Inventories (Tables)	3 Months Ended
	May 05, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	May 5, February 3, 2019 2019 Finished furniture $ 119,582 $ 112,847 Furniture in process 1,528 1,825 Materials and supplies 10,325 10,896 Inventories at FIFO 131,435 125,568 Reduction to LIFO basis (20,670 ) (20,364 ) Inventories $ 110,765 $ 105,204

NOTE 5 - Property, Plant and _2

NOTE 5 - Property, Plant and Equipment (Tables)	3 Months Ended
	May 05, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Depreciable Lives May 5, February 3, (In years) 2019 2019 Buildings and land improvements 15 - 30 $ 24,717 $ 24,588 Computer software and hardware 3 - 10 18,910 18,719 Machinery and equipment 10 8,983 8,934 Leasehold improvements Term of lease 9,683 9,376 Furniture and fixtures 3 - 10 2,388 2,318 Other 5 665 665 Total depreciable property at cost 65,346 64,600 Less accumulated depreciation 41,034 39,925 Total depreciable property, net 24,312 24,675 Land 1,067 1,067 Construction-in-progress 5,259 3,740 Property, plant and equipment, net $ 30,638 $ 29,482

NOTE 6 - Fair Value Measureme_2

NOTE 6 - Fair Value Measurements (Tables)	3 Months Ended
	May 05, 2019
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 May 5, 2019 and February 3, 2019, were as follows: Fair value at May 5, 2019 Fair value at February 3, 2019 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 $ - $ 24,533 $ - $ 24,533 $ - $ 23,816 $ - $ 23,816 Pension Plan assets* 10,992 - - 10,992 10,992 - - 10,992 * as of February 3, 2019 for Pension Plan assets.

NOTE 7 - Intangible Assets (Tab

NOTE 7 - Intangible Assets (Tables)	3 Months Ended
	May 05, 2019
Disclosure Text Block [Abstract]
Schedule of Indefinite-Lived Intangible Assets [Table Text Block]	May 5, February 3, Non-amortizable Intangible Assets Segment 2019 2019 Goodwill Home Meridian $ 23,187 $ 23,187 Goodwill All Other 16,871 16,871 Total Goodwill 40,058 40,058 Trademarks and trade names - Home Meridian Home Meridian 11,400 11,400 Trademarks and trade names - Bradington-Young All Other 861 861 Trademarks and trade names - Sam Moore All Other 396 396 Total Trademarks and trade names $ 12,657 $ 12,657 Total non-amortizable assets $ 52,715 $ 52,715
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Our amortizable intangible assets are recorded in our Home Meridian segment and All Other. The carrying amounts and changes therein of those amortizable intangible assets were as follows: Amortizable Intangible Assets Customer Relationships Trademarks Totals Balance at February 3, 2019 $ 22,320 $ 778 $ 23,098 Amortization (581 ) (15 ) (596 ) Balance at May 5, 2019 $ 21,739 $ 763 $ 22,502

NOTE 8 - Leases (Tables)

NOTE 8 - Leases (Tables)	3 Months Ended
	May 05, 2019
ASU 2016-02 Transition [Abstract]
Lease, Cost [Table Text Block]	The components of lease cost and supplemental cash flow information for leases for the three-months ended May 5, 2019 were: 13 Weeks Ended May 5, 2019 Operating lease cost $ 2,076 Short-term lease cost 113 Total operating lease cost $ 2,189 Operating cash outflows $ 2,386
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 May 5, 2019 were: May 5, 2019 Real estate $ 42,679 Property and equipment 1,215 Total operating leases right-of-use assets $ 43,894 Current portion of operating lease liabilities $ 5,847 Long term operating lease liabilities 38,171 Total operating lease liabilities $ 44,018
Schedule of Future Minimum Rental Payments for Operating Leases [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 sheet at May 5, 2019: Undiscounted Future Operating Lease Payments Remainder of 2019 $ 5,775 2020 7,689 2021 7,072 2022 5,478 2023 5,239 2024 and thereafter 20,251 Total lease payments $ 51,504 Less: impact of discounting (7,486 ) Present value of lease payments $ 44,018

NOTE 10 - Employee Benefit Pl_2

NOTE 10 - Employee Benefit Plans (Tables)	3 Months Ended
	May 05, 2019
Pension Plan [Member]
NOTE 10 - Employee Benefit Plans (Tables) [Line Items]
Schedule of Net Benefit Costs [Table Text Block]	As of May 5, 2019, current Pension Plan assets are invested in bond funds and are measured at fair value using Level 1 inputs, which are quoted prices in active markets. Thirteen Weeks Ended May 5, April 29, 2019 2018 Net periodic benefit costs Service cost 26 82 Interest cost 205 207 Actuarial loss 37 43 Expected return on pension plan assets (101 ) (144 ) Expected administrative expenses 97 70 Consolidated net periodic benefit costs $ 264 $ 258

NOTE 11 - Earnings Per Share (T

NOTE 11 - Earnings Per Share (Tables)	3 Months Ended
	May 05, 2019
Earnings Per Share [Abstract]
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	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: May 5, February 3, 2019 2019 Restricted shares 33 22 RSUs and PSUs 57 14 90 36
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	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 May 5, April 29, 2019 2018 Net income $ 1,987 $ 7,154 Less: Unvested participating restricted stock dividends 4 2 Net earnings allocated to unvested participating restricted stock 4 9 Earnings available for common shareholders 1,979 7,143 Weighted average shares outstanding for basic earnings per share 11,769 11,750 Dilutive effect of unvested restricted stock, RSU and PSU awards 36 23 Weighted average shares outstanding for diluted earnings per share 11,805 11,773 Basic earnings per share $ 0.17 $ 0.61 Diluted earnings per share $ 0.17 $ 0.61

NOTE 13 - Segment Information (

NOTE 13 - Segment Information (Tables)	3 Months Ended
	May 05, 2019
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 May 5, 2019 April 29, 2018 % Net % Net Net Sales Sales Sales Hooker Branded $ 39,600 29.2 % $ 42,772 29.9 % Home Meridian 67,630 49.9 % 70,596 49.4 % All Other 28,288 20.9 % 29,524 20.7 % Consolidated $ 135,518 100.0 % $ 142,892 100.0 % Gross Profit Hooker Branded $ 12,556 31.7 % $ 14,422 33.7 % Home Meridian 5,903 8.7 % 10,416 14.8 % All Other 7,058 25.0 % 7,128 24.1 % Consolidated $ 25,517 18.8 % $ 31,966 22.4 % Operating Income Hooker Branded $ 5,177 13.1 % $ 6,726 15.7 % Home Meridian (4,993 ) -7.4 % (288 ) -0.4 % All Other 2,721 9.6 % 2,942 10.0 % Consolidated $ 2,905 2.1 % $ 9,380 6.6 % Capital Expenditures Hooker Branded $ 125 $ 210 Home Meridian 117 36 All Other 1,285 124 Consolidated $ 1,527 $ 370 Depreciation & Amortization Hooker Branded $ 492 $ 484 Home Meridian 531 591 All Other 693 753 Consolidated $ 1,716 $ 1,828
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 May 5, As of February 3, 2019 %Total 2019 %Total Identifiable Assets Assets Assets Hooker Branded $ 148,866 45.6 % $ 108,445 36.9 % Home Meridian 135,312 41.4 % 144,277 49.1 % All Other 42,524 13.0 % 41,181 14.0 % Consolidated $ 326,702 100.0 % $ 293,903 100.0 % Consolidated Goodwill and Intangibles 75,217 75,813 Total Consolidated Assets $ 401,919 $ 369,716
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 May 5, 2019 %Total April 29, 2018 %Total Casegoods $ 84,464 62 % $ 89,492 63 % Upholstery 51,054 38 % 53,400 37 % $ 135,518 100 % $ 142,892 100 %

NOTE 2 - Recently Adopted Acc_2

NOTE 2 - Recently Adopted Accounting Policies (Details) - USD ($) $ in Thousands	May 05, 2019	Feb. 03, 2019
Accounting Changes and Error Corrections [Abstract]
Operating Lease, Right-of-Use Asset	$ 43,894	$ 0
Operating Lease, Liability	$ 44,018

NOTE 3 - Accounts Receivable (D

NOTE 3 - Accounts Receivable (Details) - Schedule of Accounts, Notes, Loans and Financing Receivable - USD ($) $ in Thousands	May 05, 2019	Feb. 03, 2019
Schedule of Accounts, Notes, Loans and Financing Receivable [Abstract]
Trade accounts receivable	$ 84,259	$ 117,732
Other accounts receivable allowances	(5,098)	(4,267)
Allowance for doubtful accounts	(917)	(908)
Accounts receivable	$ 78,244	$ 112,557

NOTE 4 - Inventories (Details)

NOTE 4 - Inventories (Details) - Schedule of Inventory, Current - USD ($) $ in Thousands	May 05, 2019	Feb. 03, 2019
Schedule of Inventory, Current [Abstract]
Finished furniture	$ 119,582	$ 112,847
Furniture in process	1,528	1,825
Materials and supplies	10,325	10,896
Inventories at FIFO	131,435	125,568
Reduction to LIFO basis	(20,670)	(20,364)
Inventories	$ 110,765	$ 105,204

NOTE 5 - Property, Plant and _3

NOTE 5 - Property, Plant and Equipment (Details) - Property, Plant and Equipment - USD ($) $ in Thousands	3 Months Ended
	May 05, 2019	Feb. 03, 2019
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 65,346	$ 64,600
Less accumulated depreciation	41,034	39,925
Total depreciable property, net	24,312	24,675
Land	1,067	1,067
Construction-in-progress	5,259	3,740
Property, plant and equipment, net	30,638	29,482
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	24,717	24,588
Computer Software and Hardware [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	18,910	18,719
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 8,983	8,934
Property, Plant and Equipment, Depreciable Lives	10
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 9,683	9,376
Property, Plant and Equipment, Depreciable Lives	Term of lease
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,388	2,318
Property, Plant and Equipment, Other Types [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 665	$ 665
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

NOTE 6 - Fair Value Measureme_3

NOTE 6 - Fair Value Measurements (Details)	Feb. 03, 2019USD ($)
Pension Plan [Member]
NOTE 6 - Fair Value Measurements (Details) [Line Items]
Assets for Plan Benefits, Defined Benefit Plan	$ 86,000

NOTE 6 - Fair Value Measureme_4

NOTE 6 - Fair Value Measurements (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis - USD ($) $ in Thousands		May 31, 2019	May 05, 2019	Feb. 28, 2019	Feb. 03, 2019
Assets measured at fair value
Company-owned life insurance			$ 24,533		$ 23,816
Pension Plan assets	[1]		$ 10,992		$ 10,992
Fair Value, Inputs, Level 1 [Member]
Assets measured at fair value
Company-owned life insurance		$ 0		$ 0
Pension Plan assets	[1]	10,992		10,992
Fair Value, Inputs, Level 2 [Member]
Assets measured at fair value
Company-owned life insurance		24,533		23,816
Pension Plan assets	[1]	0		0
Fair Value, Inputs, Level 3 [Member]
Assets measured at fair value
Company-owned life insurance		0		0
Pension Plan assets	[1]	$ 0		$ 0
[1]	as of February 3, 2019 for Pension Plan assets.

NOTE 7 - Intangible Assets (Det

NOTE 7 - Intangible Assets (Details) $ in Millions	May 05, 2019USD ($)
Disclosure Text Block [Abstract]
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 1.8

NOTE 7 - Intangible Assets (De

NOTE 7 - Intangible Assets (Details) - Schedule of Indefinite-Lived Intangible Assets - USD ($) $ in Thousands	May 05, 2019	Feb. 03, 2019
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 40,058	$ 40,058
Total non-amortizable assets	52,715	52,715
Trademarks and Trade Names [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks and trade names	12,657	12,657
Home Meridian International [Member] | Trademarks and Trade Names [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks and trade names	11,400	11,400
Bradington-Young [Member] | Trademarks and Trade Names [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks and trade names	861	861
Sam Moore [Member] | Trademarks and Trade Names [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks and trade names	396	396
Goodwill [Member]
Indefinite-lived Intangible Assets [Line Items]
Goodwill	40,058	40,058
Goodwill [Member] | Home Meridian International [Member]
Indefinite-lived Intangible Assets [Line Items]
Goodwill	23,187	23,187
Goodwill [Member] | Other Segments [Member]
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 16,871	$ 16,871

NOTE 7 - Intangible Assets (_2

NOTE 7 - Intangible Assets (Details) - Schedule of Finite-Lived Intangible Assets $ in Thousands	3 Months Ended
	May 05, 2019USD ($)
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Balance	$ 22,320
Amortization	(581)
Balance	21,739
Order or Production Backlog [Member]
Finite-Lived Intangible Assets [Line Items]
Balance	778
Amortization	(15)
Balance	763
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Balance	23,098
Amortization	(596)
Balance	$ 22,502

NOTE 8 - Leases (Details)

NOTE 8 - Leases (Details)	3 Months Ended
	May 05, 2019USD ($)
NOTE 8 - Leases (Details) [Line Items]
Operating Leases, Income Statement, Sublease Revenue (in Dollars)	$ 130,000
Description of Lessee Leasing Arrangements, Operating Leases	Our leases have remaining lease terms of less than one year to seven years, some of which include options to extend the leases for up to seven years. We have elected not to recognize ROU assets and lease liabilities that arise from short term leases for any class of underlying asset. Short term leases are leases with lease terms of 12 months or less with either (a) no renewal option or (b) a renewal option which we are not reasonably certain to exercise.
Operating Lease, Weighted Average Remaining Lease Term	7 years 292 days
Operating Lease, Weighted Average Discount Rate, Percent	4.014%
London Interbank Offered Rate (LIBOR) [Member]
NOTE 8 - Leases (Details) [Line Items]
Operating Leases of Lessee, Contingent Rentals, Basis Spread on Variable Rate	1.50%

NOTE 8 - Leases (Details) - Sch

NOTE 8 - Leases (Details) - Schedule of Lease Cost $ in Thousands	3 Months Ended
	May 05, 2019USD ($)
NOTE 8 - Leases (Details) - Schedule of Lease Cost [Line Items]
Operating lease cost	$ 2,189
Operating cash outflows	2,386
Leases Greater Than 12 Months [Member]
NOTE 8 - Leases (Details) - Schedule of Lease Cost [Line Items]
Operating lease cost	2,076
Leases Less Than 12 Months [Member]
NOTE 8 - Leases (Details) - Schedule of Lease Cost [Line Items]
Operating lease cost	$ 113

NOTE 8 - Leases (Details) - S_2

NOTE 8 - Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities - USD ($) $ in Thousands	May 05, 2019	Feb. 03, 2019
NOTE 8 - Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities [Line Items]
Operating leases right-of-use assets	$ 43,894	$ 0
Current portion of operating lease liabilities	5,847	0
Long term operating lease liabilities	38,171	$ 0
Total operating lease liabilities	44,018
Real Estate [Member]
NOTE 8 - Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities [Line Items]
Operating leases right-of-use assets	42,679
Property, Plant and Equipment [Member]
NOTE 8 - Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities [Line Items]
Operating leases right-of-use assets	$ 1,215

NOTE 8 - Leases (Details) - S_3

NOTE 8 - Leases (Details) - Schedule of Future Minimum Rental Payments for Operating Leases $ in Thousands	May 05, 2019USD ($)
Schedule of Future Minimum Rental Payments for Operating Leases [Abstract]
Remainder of 2019	$ 5,775
2020	7,689
2021	7,072
2022	5,478
2023	5,239
2024 and therafter	20,251
Total lease payments	51,504
Less: impact of discounting	(7,486)
Present value of lease payments	$ 44,018

NOTE 9 - Long-Term Debt (Detail

NOTE 9 - Long-Term Debt (Details) $ in Millions	May 05, 2019USD ($)
Disclosure Text Block [Abstract]
Line of Credit Facility, Current Borrowing Capacity	$ 27.7
Letters of Credit Outstanding, Amount	$ 2.3

NOTE 10 - Employee Benefit Pl_3

NOTE 10 - Employee Benefit Plans (Details) - USD ($) $ in Thousands	Feb. 03, 2019	May 05, 2019
NOTE 10 - Employee Benefit Plans (Details) [Line Items]
Defined Benefit Plan, Description		We maintain three retirement plans for the benefit of certain former and current employees, including a supplemental retirement income plan (“SRIP”) for certain former and current employees of Hooker Furniture Corporation, as well as two plans for the benefit of certain and former employees of Pulaski Furniture Corporation, which we assumed when we acquired the business of Home Meridian International. These legacy pension plan obligations include: ■the Pulaski Furniture Corporation Supplemental Executive Retirement Plan (“SERP”) for certain former executives. The SERP is an unfunded plan and all benefits are paid solely out of our general assets; and ■the Pension Plan for former Pulaski Furniture Corporation employees.The SRIP, SERP and Pension Plan are all “frozen” and we do not expect to add additional participants to any of these plans in the future. On January 30, 2019, our Board of Directors voted to terminate the Pension Plan. Pension Plan termination is an eighteen to twenty-four-month process, that involves seeking certain approvals from both the IRS and PBGC. Once we receive the appropriate approvals, an insurance company will be selected to provide annuities for participants at an amount equal to their current monthly pension benefit. Upon settlement of the pension liability, we will reclassify the related pension losses currently recorded in accumulated other comprehensive loss, to the consolidated statements of operations. We expect to record pension settlement expenses against earnings which could adversely affect our earnings. Additionally, there could be excess costs to terminate the plan. We do not expect these expenses and costs to be material.
Supplemental Retirement Income Plan ("SRIP") and Supplemental Executive Retirement Plan ("SERP") [Member]
NOTE 10 - Employee Benefit Plans (Details) [Line Items]
Defined Benefit Plan, Benefit Obligation, Benefits Paid		$ 178
Defined Benefit Plan, Expected Future Benefit Payment, Remainder of Fiscal Year		$ 506
Pension Plan [Member]
NOTE 10 - Employee Benefit Plans (Details) [Line Items]
Defined Benefit Plan, Assumptions Used Calculating Net Periodic Benefit Cost, Expected Long-term Rate of Return on Plan Assets	3.80%

NOTE 10 - Employee Benefit Pl_4

NOTE 10 - Employee Benefit Plans (Details) - Schedule of Net Benefit Costs - Pension Plan [Member] - USD ($) $ in Thousands	3 Months Ended
	May 05, 2019	Apr. 29, 2018
Net periodic benefit costs
Service cost	$ 26	$ 82
Interest cost	205	207
Actuarial loss	37	43
Expected return on pension plan assets	(101)	(144)
Expected administrative expenses	97	70
Consolidated net periodic benefit costs	$ 264	$ 258

NOTE 11 - Earnings Per Share (D

NOTE 11 - Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units - shares shares in Thousands	May 05, 2019	Feb. 03, 2019
NOTE 11 - Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units [Line Items]
Number of Shares Outstanding	90	36
Restricted Stock [Member]
NOTE 11 - Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units [Line Items]
Number of Shares Outstanding	33	22
Restricted Stock Units (RSUs) [Member]
NOTE 11 - Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units [Line Items]
Number of Shares Outstanding	57	14

NOTE 11 - Earnings Per Share _2

NOTE 11 - Earnings Per Share (Details) - Schedule of Earnings Per Share, Basic and Diluted - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	May 05, 2019	Apr. 29, 2018
Schedule of Earnings Per Share, Basic and Diluted [Abstract]
Net income	$ 1,987	$ 7,154
Less: Unvested participating restricted stock dividends	4	2
Net earnings allocated to unvested participating restricted stock	4	9
Earnings available for common shareholders	$ 1,979	$ 7,143
Weighted average shares outstanding for basic earnings per share (in Shares)	11,769	11,750
Dilutive effect of unvested restricted stock, RSU and PSU awards (in Shares)	36	23
Weighted average shares outstanding for diluted earnings per share (in Shares)	11,805	11,773
Basic earnings per share (in Dollars per share)	$ 0.17	$ 0.61
Diluted earnings per share (in Dollars per share)	$ 0.17	$ 0.61

NOTE 12 - Income Taxes (Details

NOTE 12 - Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	May 05, 2019	Apr. 29, 2018	Feb. 03, 2019
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ 515	$ 1,849
Effective Income Tax Rate Reconciliation, Percent	20.60%	20.50%
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 39		$ 38

NOTE 13 - Segment Information_2

NOTE 13 - Segment Information (Details)	3 Months Ended
	May 05, 2019
Segment Reporting [Abstract]
Number of Reportable Segments	2

NOTE 13 - Segment Information_3

NOTE 13 - Segment Information (Details) - Segment Reporting Information - USD ($) $ in Thousands	3 Months Ended
	May 05, 2019	Apr. 29, 2018
Segment Reporting Information [Line Items]
Net Sales	$ 135,518	$ 142,892
% of Net Sales	100.00%	100.00%
Gross Profit	$ 25,517	$ 31,966
% of Net Sales, Gross Profit	18.80%	22.40%
Operating Income	$ 2,905	$ 9,380
% of Net Sales, Operating Income	2.10%	6.60%
Capital Expenditures	$ 1,527	$ 370
Depreciation & Amortization	1,716	1,828
Hooker Branded [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 39,600	$ 42,772
% of Net Sales	29.20%	29.90%
Gross Profit	$ 12,556	$ 14,422
% of Net Sales, Gross Profit	31.70%	33.70%
Operating Income	$ 5,177	$ 6,726
% of Net Sales, Operating Income	13.10%	15.70%
Capital Expenditures	$ 125	$ 210
Depreciation & Amortization	492	484
Home Meridian International [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 67,630	$ 70,596
% of Net Sales	49.90%	49.40%
Gross Profit	$ 5,903	$ 10,416
% of Net Sales, Gross Profit	8.70%	14.80%
Operating Income	$ (4,993)	$ (288)
% of Net Sales, Operating Income	(7.40%)	(0.40%)
Capital Expenditures	$ 117	$ 36
Depreciation & Amortization	531	591
Other Segments [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 28,288	$ 29,524
% of Net Sales	20.90%	20.70%
Gross Profit	$ 7,058	$ 7,128
% of Net Sales, Gross Profit	25.00%	24.10%
Operating Income	$ 2,721	$ 2,942
% of Net Sales, Operating Income	9.60%	10.00%
Capital Expenditures	$ 1,285	$ 124
Depreciation & Amortization	$ 693	$ 753

NOTE 13 - Segment Information_4

NOTE 13 - Segment Information (Details) - Assets from Segments to Consolidated - USD ($) $ in Thousands	May 05, 2019	Feb. 03, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 326,702	$ 293,903
% Total Assets	100.00%	100.00%
Consolidated Goodwill and Intangibles	$ 75,217	$ 75,813
Total Consolidated Assets	401,919	369,716
Hooker Branded [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 148,866	$ 108,445
% Total Assets	45.60%	36.90%
Home Meridian International [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 135,312	$ 144,277
% Total Assets	41.40%	49.10%
Other Segments [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 42,524	$ 41,181
% Total Assets	13.00%	14.00%

NOTE 13 - Segment Information_5

NOTE 13 - Segment Information (Details) - Revenue from External Customers by Products and Services - USD ($) $ in Thousands	3 Months Ended
	May 05, 2019	Apr. 29, 2018
Revenue from External Customer [Line Items]
Sales	$ 135,518	$ 142,892
% of Sales	100.00%	100.00%
Casegoods [Member]
Revenue from External Customer [Line Items]
Sales	$ 84,464	$ 89,492
% of Sales	62.00%	63.00%
Upholstery [Member]
Revenue from External Customer [Line Items]
Sales	$ 51,054	$ 53,400
% of Sales	38.00%	37.00%

NOTE 14 - Subsequent Events (De

NOTE 14 - Subsequent Events (Details) - Subsequent Event [Member]	Jun. 05, 2019$ / shares
NOTE 14 - Subsequent Events (Details) [Line Items]
Dividends Payable, Date Declared	Jun. 5, 2019
Dividends Payable, Date to be Paid	Jun. 30, 2019
Dividends Payable, Date of Record	Jun. 17, 2019
Common Stock, Dividends, Per Share, Declared	$ 0.15