Hooker Furnishings (HOFT) 10-Q 9 Sep 20 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Aug. 02, 2020	Sep. 04, 2020
Document Information Line Items
Entity Registrant Name	HOOKER FURNITURE CORPORATION
Trading Symbol	HOFT
Document Type	10-Q
Current Fiscal Year End Date	--01-31
Entity Common Stock, Shares Outstanding		11,889,968
Amendment Flag	false
Entity Central Index Key	0001077688
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Document Period End Date	Aug. 2, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
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 Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Current assets
Cash and cash equivalents	$ 82,210	$ 36,031
Trade accounts receivable, net	67,115	87,653
Inventories	67,707	92,813
Income tax recoverable	0	751
Prepaid expenses and other current assets	6,331	4,719
Total current assets	223,363	221,967
Property, plant and equipment, net	28,271	29,907
Cash surrender value of life insurance policies	24,904	24,888
Deferred taxes	14,044	2,880
Operating leases right-of-use assets	37,987	39,512
Intangible assets, net	27,429	33,371
Goodwill	490	40,058
Other assets	1,190	1,125
Total non-current assets	134,315	171,741
Total assets	357,678	393,708
Current liabilities
Current portion of term loans	27,200	5,834
Trade accounts payable	24,143	25,493
Accrued salaries, wages and benefits	4,206	4,933
Income tax payable	975	0
Customer deposits	4,328	3,351
Current portion of lease liabilities	6,844	6,307
Other accrued expenses	3,344	4,211
Total current liabilities	71,040	50,129
Long term debt	0	24,282
Deferred compensation	11,235	11,382
Lease liabilities	32,411	33,794
Other long-term liabilities	538	0
Total long-term liabilities	44,184	69,458
Total liabilities	115,224	119,587
Common stock, no par value, 20,000 shares authorized, 11,890 and 11,838 shares issued and outstanding on each date	52,628	51,582
Retained earnings	190,411	223,252
Accumulated other comprehensive loss	(585)	(713)
Total shareholders’ equity	242,454	274,121
Total liabilities and shareholders’ equity	$ 357,678	$ 393,708

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - shares shares in Thousands	Aug. 02, 2020	Feb. 02, 2020
Statement of Financial Position [Abstract]
Common stock, shares authorized	20,000	20,000
Common stock, shares issued	11,890	11,838
Common stock, shares outstanding	11,890	11,838

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Income Statement [Abstract]
Net sales	$ 130,537	$ 152,248	$ 235,134	$ 287,766
Cost of sales	103,537	123,422	189,480	233,423
Gross profit	27,000	28,826	45,654	54,343
Selling and administrative expenses	18,892	22,462	38,070	44,478
Goodwill impairment charges	0	0	39,568	0
Trade name impairment charges	0	0	4,750	0
Intangible asset amortization	596	596	1,192	1,192
Operating income / (loss)	7,512	5,768	(37,926)	8,673
Other expense, net	10	32	51	94
Interest expense, net	118	328	327	669
Income/(loss) before income taxes	7,384	5,408	(38,304)	7,910
Income tax expense / (benefit)	1,610	1,248	(9,259)	1,763
Net income/(loss)	$ 5,774	$ 4,160	$ (29,045)	$ 6,147
Earnings/(Loss) per share
Basic (in Dollars per share)	$ 0.49	$ 0.35	$ (2.46)	$ 0.52
Diluted (in Dollars per share)	$ 0.48	$ 0.35	$ (2.46)	$ 0.52
Weighted average shares outstanding:
Basic (in Shares)	11,824	11,787	11,811	11,778
Diluted (in Shares)	11,853	11,810	11,811	11,811
Cash dividends declared per share (in Dollars per share)	$ 0.16	$ 0.15	$ 0.32	$ 0.30

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Statement of Comprehensive Income [Abstract]
Net income/(loss)	$ 5,774	$ 4,160	$ (29,045)	$ 6,147
Other comprehensive income (loss):
Amortization of actuarial loss	84	37	168	74
Income tax effect on amortization	(20)	(9)	(40)	(18)
Adjustments to net periodic benefit cost	64	28	128	56
Total Comprehensive Income/(Loss)	$ 5,838	$ 4,188	$ (28,917)	$ 6,203

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019
Operating Activities:
Net (loss)/income	$ (29,045)	$ 6,147
Adjustments to reconcile net income to net cash provided by operating activities:
Goodwill and intangible asset impairment charges	44,318	0
Depreciation and amortization	3,365	3,471
Gain on disposal of assets	0	(285)
Deferred income tax (benefit) / expense	(10,665)	2,155
Noncash restricted stock and performance awards	1,046	558
Provision for doubtful accounts and sales allowances	3,396	1,053
Gain on life insurance policies	(651)	(624)
Changes in assets and liabilities:
Trade accounts receivable	17,142	25,206
Inventories	25,106	(8,389)
Income tax recoverable	751	(3,856)
Prepaid expenses and other current assets	(1,261)	(3,191)
Trade accounts payable	(1,391)	(9,058)
Accrued salaries, wages, and benefits	(726)	(2,856)
Accrued income taxes	975	(3,159)
Customer deposits	977	2,475
Operating lease liabilities	678	187
Other accrued expenses	(867)	1,033
Deferred compensation	20	145
Net cash provided by operating activities	53,168	11,012
Investing Activities:
Purchases of property and equipment	(484)	(3,659)
Proceeds received on notes from sale of assets	0	1,459
Premiums paid on life insurance policies	(453)	(489)
Proceeds received on life insurance policies	673	0
Net cash used in investing activities	(264)	(2,689)
Financing Activities:
Payments for long-term debt	(2,929)	(2,928)
Cash dividends paid	(3,796)	(3,541)
Cash used in financing activities	(6,725)	(6,469)
Net increase in cash and cash equivalents	46,179	1,854
Cash and cash equivalents - beginning of year	36,031	11,435
Cash and cash equivalents - end of quarter	82,210	13,289
Supplemental disclosure of cash flow information:
Cash paid for income taxes	220	6,622
Cash paid for interest, net	295	599
Decrease in lease liabilities arising from obtaining right-of-use assets	1,987	266
Increase in property and equipment through accrued purchases	$ 41	$ 49

CONSOLIDATED STATEMENT OF STOCK

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. 03, 2019	$ 49,549	$ 213,380	$ 247	$ 263,176
Balance (in Shares) at Feb. 03, 2019	11,785
Net income (loss)		6,147		6,147
Unrealized gain loss on defined benefit plan, net of tax			56	56
Cash dividends paid and accrued		(3,541)		(3,541)
Restricted stock grants, net of forfeitures	$ 344			344
Restricted stock grants, net of forfeitures (in Shares)	53
Restricted stock compensation cost	$ 367			367
Recognition of PSUs as equity-based awards	584			584
Balance at Aug. 04, 2019	$ 50,844	215,986	303	267,133
Balance (in Shares) at Aug. 04, 2019	11,838
Balance at Feb. 02, 2020	$ 51,582	223,252	(713)	$ 274,121
Balance (in Shares) at Feb. 02, 2020	11,838			11,838
Net income (loss)		(29,045)		$ (29,045)
Unrealized gain loss on defined benefit plan, net of tax			128	128
Cash dividends paid and accrued		(3,796)		(3,796)
Restricted stock grants, net of forfeitures	$ 169			169
Restricted stock grants, net of forfeitures (in Shares)	52
Restricted stock compensation cost	$ 442			442
Recognition of PSUs as equity-based awards	435			435
Balance at Aug. 02, 2020	$ 52,628	$ 190,411	$ (585)	$ 242,454
Balance (in Shares) at Aug. 02, 2020	11,890			11,890

CONSOLIDATED STATEMENT OF STO_2

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (Parentheticals) - USD ($) $ in Thousands	6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019
Statement of Stockholders' Equity [Abstract]
Unrealized gain loss on defined benefit plan, tax	$ 40	$ 18
Cash dividends paid and accrued, per share	$ 0.16	$ 0.15

Preparation of Interim Financia

Preparation of Interim Financial Statements	6 Months Ended
	Aug. 02, 2020
Accounting Policies [Abstract]
Business Description and Basis of Presentation [Text Block]	1. Preparation of Interim Financial Statements The condensed consolidated financial statements of Hooker Furniture Corporation and subsidiaries (referred to as “we,” “us,” “our,” “Hooker” or the “Company”) have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). In the opinion of management, these statements include all adjustments necessary for a fair statement of the results of all interim periods reported herein. All such adjustments are of a normal recurring nature. Certain information and footnote disclosures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) are condensed or omitted pursuant to SEC rules and regulations. However, we believe that the disclosures made are adequate for a fair presentation of our results of operations and financial position. These financial statements should be read in conjunction with the audited consolidated financial statements and accompanying notes included in our annual report on Form 10-K for the fiscal year ended February 2, 2020 (“2020 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 2021 fiscal year thirteen-week period (also referred to as “three months,” “three-month period,” “quarter,” “second quarter” or “quarterly period”) that began May 4, 2020, and the twenty-six week period (also referred to as “six months”, “six-month period” or “first half”) that began February 3, 2020, which both ended August 2, 2020. This report discusses our results of operations for this period compared to the 2020 fiscal year thirteen-week period that began May 6, 2019 and the twenty-six week period that began February 4, 2019, which both ended August 4, 2019; and our financial condition as of August 2, 2020 compared to February 2, 2020. References in these notes to the condensed consolidated financial statements of the Company to: ■ the 2021 fiscal year and comparable terminology mean the fifty-two-week fiscal year that began February 3, 2020 and will end January 31, 2021; and ■ the 2020 fiscal year and comparable terminology mean the fifty-two-week fiscal year that began February 4, 2019 and ended February 2, 2020. 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. In the fourth quarter of fiscal 2020, we updated our reportable segments. Consequently, the segment disclosures in this filing have been recast to reflect these changes and therefore differ from prior quarterly filings. See Note 13 Segment Information for additional details.

Recently Adopted Accounting Pol

Recently Adopted Accounting Policies	6 Months Ended
	Aug. 02, 2020
Accounting Changes and Error Corrections [Abstract]
Accounting Changes and Error Corrections [Text Block]	2. Recently Adopted Accounting Policies In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326). This update seeks to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments, including trade receivables, and other commitments to extend credit held by a reporting entity at each reporting date. The amendments require an entity to replace the incurred loss impairment methodology in current GAAP with a methodology that reflects current expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. We adopted the provisions of Topic 326 on February 3, 2020, the first day of our 2021 fiscal year. The adoption of this standard did not have a material effect on our condensed consolidated financial statements or results of operations. We will continue to actively monitor the impact of the COVID-19 pandemic on expected credit losses. In December 2019, the FASB issued ASU 2019-12, Income Tax (Topic 740) – Simplifying the Accounting for Income Taxes. The amendments in this update simplify the accounting for income taxes by removing certain exceptions for intra-period tax allocation, the recognition of deferred tax liabilities after an investment in a foreign entity transitions to or from the equity method, and the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss for the year. The amendments also introduce new guidance on determining how to apply the income tax guidance to franchise taxes that are partially based on income, clarifying the accounting for transactions that result in a step-up in the tax basis of goodwill, and the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period. The amendments are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. We elected to adopt ASU 2019-12 on February 3, 2020, the first day of our 2021 fiscal year. The adoption of this standard impacted our condensed consolidated balance sheets and statements of operations by $5.4 million. See Note 12 Income Taxes for additional details.

Accounts Receivable

Accounts Receivable	6 Months Ended
	Aug. 02, 2020
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	3. Accounts Receivable August 2, February 2, 2020 2020 Trade accounts receivable $ 75,198 $ 91,261 Receivable from factor - 788 Other accounts receivable allowances (6,526 ) (3,493 ) Allowance for doubtful accounts (1,557 ) (903 ) Accounts receivable $ 67,115 $ 87,653 “Receivable from factor” represented amounts due with respect to factored accounts receivable. The agreement was discontinued in early fiscal 2021.

Inventories

Inventories	6 Months Ended
	Aug. 02, 2020
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	4. Inventories August 2, February 2, 2020 2020 Finished furniture $ 80,770 $ 106,495 Furniture in process 1,278 1,304 Materials and supplies 8,151 8,479 Inventories at FIFO 90,199 116,278 Reduction to LIFO basis (22,492 ) (23,465 ) Inventories $ 67,707 $ 92,813

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Aug. 02, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	5. Property, Plant and Equipment Depreciable Lives August 2, February 2, (In years) 2020 2020 Buildings and land improvements 15 - 30 $ 31,316 $ 31,316 Computer software and hardware 3 - 10 19,243 19,166 Machinery and equipment 10 9,317 9,271 Leasehold improvements Term of lease 9,785 9,737 Furniture and fixtures 3 - 10 2,603 2,597 Other 5 651 651 Total depreciable property at cost 72,915 72,738 Less accumulated depreciation 46,250 44,089 Total depreciable property, net 26,665 28,649 Land 1,077 1,077 Construction-in-progress 529 181 Property, plant and equipment, net $ 28,271 $ 29,907

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Aug. 02, 2020
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	6. Fair Value Measurements Fair value is the price that would be received upon the sale of an asset or paid upon the transfer of a liability (an exit price) in an orderly transaction between market participants on the applicable measurement date. We use a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: ■ Level 1, defined as observable inputs such as quoted prices in active markets for identical assets and liabilities; ■ Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and ■ Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions. As of August 2, 2020 and February 2, 2020, Company-owned life insurance was measured at fair value on a recurring basis based on Level 2 inputs. The fair value of the Company-owned life insurance is determined by inputs that are readily available in public markets or can be derived from information available in publicly quoted markets. Additionally, the fair value of the Company-owned life insurance is marked to market each reporting period and any change in fair value is reflected in income for that period. Our assets measured at fair value on a recurring basis at August 2, 2020 and February 2, 2020, were as follows: Fair value at August 2, 2020 Fair value at February 2, 2020 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 $ - $ 24,904 $ - $ 24,904 $ - $ 24,888 $ - $ 24,888

Intangible Assets

Intangible Assets	6 Months Ended
	Aug. 02, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets Disclosure [Text Block]	7. Intangible Assets The adverse economic effects brought on by the COVID-19 pandemic, including reductions in our sales, earnings and market value, as well as other changing market dynamics, required that we perform a valuation of our intangible assets. The calculation methodology for the fair value of our Home Meridian segment and the Shenandoah division of our Domestic Upholstery segment included three approaches: the Discounted Cash Flow Method (DCF) which was given the largest weighting, the Guideline Public Company Method (GPCM) based on the consideration of the facts of the Company’s peer competitors and the Guideline Transaction Method (GTM) based on consideration of transactions with varying risk profiles, geographies and market conditions. The income approach, specifically the relief from royalty method, was used as the valuation methodology for our trade names and trademarks, based on cash flow projections and growth rates for each trade name for five years in the future provided by management, and a royalty rate benchmark for companies with similar activities. As a result of our intangible asset valuation analysis, in the first quarter of fiscal 2021, we recorded $44.3 million non-cash impairment charges including $23.2 million to Home Meridian goodwill, $16.4 million to Shenandoah goodwill and $4.8 million to certain of Home Meridian segment’s trade names. Twenty-Six Weeks Ended August 2, 2020 February 2, 2020 Non-amortizable Intangible Assets Segment Beginning Balance Impairment Charges Net Book Value Beginning Balance Impairment Charges Net Book Value Goodwill Home Meridian $ 23,187 $ (23,187 ) $ - $ 23,187 $ - $ 23,187 Goodwill Domestic Upholstery 16,871 (16,381 ) 490 16,871 - 16,871 Total Goodwill 40,058 (39,568 ) 490 40,058 - 40,058 Trademarks and trade names - Home Meridian Home Meridian 11,400 (4,750 ) 6,650 11,400 - 11,400 Trademarks and trade names - Bradington-Young Domestic Upholstery 861 - 861 861 - 861 Trademarks and trade names - Sam Moore Domestic Upholstery 396 - 396 396 - 396 Total Trademarks and trade names $ 12,657 $ (4,750 ) $ 7,907 $ 12,657 $ - $ 12,657 Total non-amortizable assets $ 52,715 $ (44,318 ) $ 8,397 $ 52,715 $ - $ 52,715 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 February 2, 2020 $ 19,996 $ 718 $ 20,714 Amortization (1,162 ) (30 ) (1,192 ) Balance at August 2, 2020 $ 18,834 $ 688 $ 19,522 For the remainder of fiscal 2021, amortization expense is expected to be approximately $1.2 million.

Leases

Leases	6 Months Ended
	Aug. 02, 2020
Disclosure Text Block [Abstract]
Lessor, Operating Leases [Text Block]	8. Leases In fiscal 2020, we adopted Accounting Standards Codification Topic 842 Leases. Thirteen Weeks Ended Twenty-Six Weeks Ended August 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 Operating lease cost $ 2,153 $ 2,123 $ 4,253 $ 4,200 Variable lease cost 22 - 69 - Short-term lease cost 67 178 186 291 Total operating lease cost $ 2,242 $ 2,301 $ 4,508 $ 4,491 Operating cash outflows $ 1,931 $ 1,948 $ 3,833 $ 4,334 The right-of-use assets and lease liabilities recorded on our Condensed Consolidated Balance Sheets as of August 2, 2020 were: August 2, 2020 February 2, 2020 Real estate $ 36,909 $ 38,175 Property and equipment 1,078 1,337 Total operating leases right-of-use assets $ 37,987 $ 39,512 Current portion of operating lease liabilities $ 6,844 $ 6,307 Long term operating lease liabilities 32,411 33,794 Total operating lease liabilities $ 39,255 $ 40,101 The weighted-average remaining lease term is 7.0 years. We used our incremental borrowing rate which is LIBOR plus 1.5% at the adoption date. The weighted-average discount rate is 2.75%. Due to the COVID-19 pandemic, we received concessions on several of our leases, including changes in lease terms and deferred rent payments. We accounted for the concessions as lease modifications and used current LIBOR plus 1.5% for those leases. The weighted-average discount rate decreased due to a decrease in LIBOR. None of the modifications had a material effect on our condensed consolidated financial statements or results of operations. The following table reconciles the undiscounted future lease payments for operating leases to the operating lease liabilities recorded in the condensed consolidated balance sheets on August 2, 2020: Undiscounted Future Operating Lease Payments Remainder of 2020 $ 3,947 2021 7,451 2022 5,671 2023 5,726 2024 5,280 2025 and thereafter 15,205 Total lease payments $ 43,280 Less: impact of discounting (4,025 ) Present value of lease payments $ 39,255 As of August 2, 2020, we did not have any additional operating or finance leases that had not yet commenced.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Aug. 02, 2020
Debt Disclosure [Abstract]
Long-term Debt [Text Block]	9. Debt As of August 2, 2020, we had an aggregate $25.7 million available under the Existing Revolver to fund working capital needs. Standby letters of credit in the aggregate amount of $4.3 million, used to collateralize certain insurance arrangements and for imported product purchases, were outstanding under the revolving credit facility as of August 2, 2020. There were no additional borrowings outstanding under the Existing Revolver as of August 2, 2020. We currently have one unsecured term loan and one secured term loan outstanding and a revolving credit facility. The term loans are related to the Home Meridian acquisition. The full remaining principal amounts of $27.2 million on our term loans are due on February 1, 2021. We expect to enter into a new credit facility on or before the expiration of the current agreement.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Aug. 02, 2020
Retirement Benefits [Abstract]
Retirement Benefits [Text Block]	10. Employee Benefit Plans We maintain two “frozen” retirement plans, which are paying benefits and may include active employees among the participants. We do not expect to add participants to these plans in the future. The two plans include: ■ a supplemental retirement income plan (“SRIP”) for certain former and current executives of Hooker Furniture Corporation; and ■ the Pulaski Furniture Corporation Supplemental Executive Retirement Plan (“SERP”) for certain former executives. Thirteen Weeks Ended Twenty-Six Weeks Ended August 2, August 4, August 2, August 4, 2020 2019 2020 2019 Net periodic benefit costs Service cost 32 26 64 52 Interest cost 74 204 148 409 Actuarial loss 84 37 169 74 Expected return on pension plan assets - (101 ) - (202 ) Expected administrative expenses - 98 - 195 Consolidated net periodic benefit costs $ 190 $ 264 $ 381 $ 528 The SRIP and SERP plans are unfunded plans. In fiscal 2021, we paid $181,000 in the second quarter and $359,000 in the first half and expect to pay a total of approximately $370,000 in benefit payments from our general assets during the remainder of fiscal 2021 to fund SRIP and SERP payments.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Aug. 02, 2020
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 2020 Annual Report, for additional information concerning the calculation of earnings per share. All stock awards are designed to encourage retention and to provide an incentive for increasing shareholder value. We have issued restricted stock awards to non-employee members of the board of directors since 2006 and to certain non-executive employees since 2014. We have issued restricted stock units (“RSUs”) to certain senior executives since fiscal 2012 under the Company’s Stock Incentive Plan. Each RSU entitles an executive to receive one share of the Company’s common stock if the executive remains continuously employed with the Company through the end of a three-year service period. The RSUs may be paid in shares of our common stock, cash or both at the discretion of the Compensation Committee of our board of directors. We have issued Performance-based Restricted Stock Units (“PSUs”) to certain senior executives since fiscal 2019 under the Company’s Stock Incentive Plan. Each PSU entitles the executive officer to receive one share of our common stock based on the achievement of two specified performance conditions if the executive officer remains continuously employed through the end of the three-year performance period. One target is based on our annual average growth in our EPS over the performance period and the other target is based on EPS growth over the performance period compared to our peers. The payout or settlement of the PSUs will be made in shares of our common stock. We expect to continue to grant these types of awards annually in the future. The following table sets forth the number of outstanding restricted stock awards and RSUs and PSUs, net of forfeitures and vested shares, as of the fiscal period-end dates indicated: August 2, February 2, 2020 2020 Restricted shares 57 46 RSUs and PSUs 159 76 216 122 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 goals. All restricted shares, RSUs and PSUs awarded that have not yet vested are considered when computing diluted earnings per share. The following table sets forth the computation of basic and diluted earnings per share: Thirteen Weeks Ended Twenty-Six Weeks Ended August 2, August 4, August 2, August 4, 2020 2019 2020 2019 Net income/(loss) $ 5,774 $ 4,160 $ (29,045 ) $ 6,147 Less: Unvested participating restricted stock dividends 9 7 17 10 Net earnings allocated to unvested participating restricted stock 28 15 - 18 Earnings/(loss) available for common shareholders 5,737 4,138 (29,062 ) 6,119 Weighted average shares outstanding for basic earnings per share 11,824 11,787 11,811 11,778 Dilutive effect of unvested restricted stock, RSU and PSU awards 29 23 * 33 Weighted average shares outstanding for diluted earnings per share 11,853 11,810 11,811 11,811 Basic earnings/(loss) per share $ 0.49 $ 0.35 $ (2.46 ) $ 0.52 Diluted earnings/(loss) per share $ 0.48 $ 0.35 $ (2.46 ) $ 0.52 *Due to the fiscal 2021 year-to-date net loss, approximately 31,000 shares would have been antidilutive and are therefore excluded from the calculation of earnings per share for the twenty-six weeks ended August 2, 2020.

Income Taxes

Income Taxes	6 Months Ended
	Aug. 02, 2020
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	12. Income Taxes We recorded income tax expense of $1.6 million for the fiscal 2021 second quarter compared to $1.2 million for the comparable prior year period. The effective tax rates for the fiscal 2021 and 2020 second quarters were 21.8% and 23.1%, respectively. We recorded income tax benefit of $9.3 million for the fiscal 2021 first half, of which income tax benefit of $10.7 million was recorded related to goodwill and trade name impairment charges, compared to $1.8 million income tax expense for the comparable prior year period. respectively. The effective tax rates for the first half of fiscal 2021 and 2020 were 24.2% and 22.3%. An entity is required to make its best estimate of the annual effective tax rate for the full fiscal year at the end of each interim period and to use this rate to calculate its income taxes on a year-to-date basis. Under the current income tax guidance, there is an exception that when the year-to-date loss for an interim period exceeds the projected loss for the full fiscal year, the income tax benefit recognized year-to-date is limited to the amount of benefit that would be recognized if the year-to-date loss were the anticipated loss for the full fiscal year. ASU 2019-12 removes this exception and no longer limits the computed benefit. We elected to early adopt ASU 2019-12 in the first quarter of fiscal 2021 and recognized an additional $5.4 million of tax benefit that exceeds our anticipated annual income tax benefit in the fiscal 2021 first half. The net unrecognized tax benefits as of August 2, 2020 and February 2, 2020, which, if recognized, would affect our effective tax rate are $3,000. Tax years ending January 29, 2017 through February 2, 2020 remain subject to examination by federal and state taxing authorities.

Segment Information

Segment Information	6 Months Ended
	Aug. 02, 2020
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	13. Segment Information As a public entity, we are required to present disaggregated information by segment using the management approach. The objective of this approach is to allow users of our financial statements to see our business through the eyes of management based upon the way management reviews performance and makes decisions. The management approach requires segment information to be reported based on how management internally evaluates the operating performance of the company’s business units or segments. The objective of this approach is to meet the basic principles of segment reporting as outlined in ASC 280 Segments ■ 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. In the fourth quarter of fiscal 2020, we updated our reportable segments as follows: domestic upholstery producers Bradington-Young, Sam Moore and Shenandoah Furniture were moved from All Other and aggregated into a new reportable segment called “Domestic Upholstery.” All Other now consists of H Contract and Lifestyle Brands. Lifestyle Brands is a business in its start-up phase targeted at the interior design channel. The Hooker Branded and Home Meridian segments were unchanged. Therefore, for financial reporting purposes, we are organized into three reportable segments and “All Other”, which includes the remainder of our businesses: ■ Hooker Branded ■ Home Meridian ■ Domestic Upholstery, ■ All Other The following table presents segment information for the periods, and as of the dates, indicated. Prior-year information has been recast to reflect the changes in segments discussed above: Thirteen Weeks Ended Twenty-Six Weeks Ended August 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 % Net % Net % Net % Net Net Sales Sales Sales Sales Sales Hooker Branded $ 38,820 29.7 % $ 39,405 25.9 % $ 65,982 28.1 % $ 79,004 27.5 % Home Meridian 71,168 54.6 % 87,188 57.3 % 128,833 54.7 % 154,818 53.8 % Domestic Upholstery 17,507 13.4 % 22,663 14.8 % 34,290 14.6 % 47,987 16.7 % All Other 3,042 2.3 % 2,992 2.0 % 6,029 2.6 % 5,957 2.0 % Consolidated $ 130,537 100.0 % $ 152,248 100.0 % $ 235,134 100.0 % $ 287,766 100.0 % Gross Profit Hooker Branded $ 12,443 32.1 % $ 11,820 30.0 % $ 20,448 31.0 % $ 24,376 30.9 % Home Meridian 10,510 14.8 % 10,951 12.6 % 17,320 13.4 % 16,854 10.9 % Domestic Upholstery 3,021 17.3 % 4,917 21.7 % 5,804 16.9 % 10,919 22.8 % All Other 1,026 33.7 % 1,138 38.0 % 2,082 34.5 % 2,194 36.8 % Consolidated $ 27,000 20.7 % $ 28,826 18.9 % $ 45,654 19.4 % $ 54,343 18.9 % Operating Income/(Loss) Hooker Branded $ 6,090 15.7 % $ 4,088 10.4 % $ 7,423 11.2 % $ 9,265 11.7 % Home Meridian 1,083 1.5 % (66 ) -0.1 % (29,265 ) -22.7 % (5,059 ) -3.3 % Domestic Upholstery (10 ) -0.1 % 1,260 5.6 % (16,820 ) -49.1 % 3,552 7.4 % All Other 349 11.5 % 486 16.3 % 736 12.2 % 915 15.4 % Consolidated $ 7,512 5.8 % $ 5,768 3.8 % $ (37,926 ) -16.1 % $ 8,673 3.0 % Capital Expenditures Hooker Branded $ 29 $ 386 $ 82 $ 511 Home Meridian 20 57 108 173 Domestic Upholstery 54 1,680 294 2,965 All Other - 10 - 10 Consolidated $ 103 $ 2,133 $ 484 $ 3,659 Depreciation & Amortization Hooker Branded $ 445 $ 490 $ 894 $ 982 Home Meridian 533 547 1,068 1,078 Domestic Upholstery 700 715 1,397 1,404 All Other 3 3 6 7 Consolidated $ 1,681 $ 1,755 $ 3,365 $ 3,471 As of August 2, As of February 2, 2020 %Total 2020 %Total Identifiable Assets Assets Assets Hooker Branded $ 189,816 57.6 % $ 144,112 45.0 % Home Meridian 93,216 28.3 % 138,313 43.2 % Domestic Upholstery 45,485 13.7 % 36,085 11.3 % All Other 1,242 0.4 % 1,769 0.5 % Consolidated $ 329,759 100.0 % $ 320,279 100.0 % Consolidated Goodwill and Intangibles 27,919 73,429 Total Consolidated Assets $ 357,678 $ 393,708 Sales by product type are as follows: Net Sales (in thousands) Thirteen Weeks Ended Twenty-Six Weeks Ended August 2, 2020 %Total August 4, 2019 %Total August 2, 2020 %Total August 4, 2019 %Total Casegoods $ 79,181 61 % $ 98,488 65 % $ 142,373 61 % $ 182,954 64 % Upholstery 51,356 39 % 53,760 35 % 92,761 39 % 104,812 36 % $ 130,537 100 % $ 152,248 100 % $ 235,134 100 % $ 287,766 100 %

Subsequent Events

Subsequent Events	6 Months Ended
	Aug. 02, 2020
Subsequent Events [Abstract]
Subsequent Events [Text Block]	14. Subsequent Events Dividends On September 2, 2020, our board of directors declared a quarterly cash dividend of $0.16 per share, payable on September 30, 2020 to shareholders of record at September 18, 2020.

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Aug. 02, 2020
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	August 2, February 2, 2020 2020 Trade accounts receivable $ 75,198 $ 91,261 Receivable from factor - 788 Other accounts receivable allowances (6,526 ) (3,493 ) Allowance for doubtful accounts (1,557 ) (903 ) Accounts receivable $ 67,115 $ 87,653

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Aug. 02, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory, Current [Table Text Block]	August 2, February 2, 2020 2020 Finished furniture $ 80,770 $ 106,495 Furniture in process 1,278 1,304 Materials and supplies 8,151 8,479 Inventories at FIFO 90,199 116,278 Reduction to LIFO basis (22,492 ) (23,465 ) Inventories $ 67,707 $ 92,813

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Aug. 02, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Depreciable Lives August 2, February 2, (In years) 2020 2020 Buildings and land improvements 15 - 30 $ 31,316 $ 31,316 Computer software and hardware 3 - 10 19,243 19,166 Machinery and equipment 10 9,317 9,271 Leasehold improvements Term of lease 9,785 9,737 Furniture and fixtures 3 - 10 2,603 2,597 Other 5 651 651 Total depreciable property at cost 72,915 72,738 Less accumulated depreciation 46,250 44,089 Total depreciable property, net 26,665 28,649 Land 1,077 1,077 Construction-in-progress 529 181 Property, plant and equipment, net $ 28,271 $ 29,907

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Aug. 02, 2020
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Our assets measured at fair value on a recurring basis at August 2, 2020 and February 2, 2020, were as follows: Fair value at August 2, 2020 Fair value at February 2, 2020 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 $ - $ 24,904 $ - $ 24,904 $ - $ 24,888 $ - $ 24,888

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Aug. 02, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets [Table Text Block]	As a result of our intangible asset valuation analysis, in the first quarter of fiscal 2021, we recorded $44.3 million non-cash impairment charges including $23.2 million to Home Meridian goodwill, $16.4 million to Shenandoah goodwill and $4.8 million to certain of Home Meridian segment’s trade names. Twenty-Six Weeks Ended August 2, 2020 February 2, 2020 Non-amortizable Intangible Assets Segment Beginning Balance Impairment Charges Net Book Value Beginning Balance Impairment Charges Net Book Value Goodwill Home Meridian $ 23,187 $ (23,187 ) $ - $ 23,187 $ - $ 23,187 Goodwill Domestic Upholstery 16,871 (16,381 ) 490 16,871 - 16,871 Total Goodwill 40,058 (39,568 ) 490 40,058 - 40,058 Trademarks and trade names - Home Meridian Home Meridian 11,400 (4,750 ) 6,650 11,400 - 11,400 Trademarks and trade names - Bradington-Young Domestic Upholstery 861 - 861 861 - 861 Trademarks and trade names - Sam Moore Domestic Upholstery 396 - 396 396 - 396 Total Trademarks and trade names $ 12,657 $ (4,750 ) $ 7,907 $ 12,657 $ - $ 12,657 Total non-amortizable assets $ 52,715 $ (44,318 ) $ 8,397 $ 52,715 $ - $ 52,715
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 February 2, 2020 $ 19,996 $ 718 $ 20,714 Amortization (1,162 ) (30 ) (1,192 ) Balance at August 2, 2020 $ 18,834 $ 688 $ 19,522

Leases (Tables)

Leases (Tables)	6 Months Ended
	Aug. 02, 2020
Disclosure Text Block [Abstract]
Lease, Cost [Table Text Block]	The components of lease cost and supplemental cash flow information for leases for the three-months and six-months ended August 2, 2020 were: Thirteen Weeks Ended Twenty-Six Weeks Ended August 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 Operating lease cost $ 2,153 $ 2,123 $ 4,253 $ 4,200 Variable lease cost 22 - 69 - Short-term lease cost 67 178 186 291 Total operating lease cost $ 2,242 $ 2,301 $ 4,508 $ 4,491 Operating cash outflows $ 1,931 $ 1,948 $ 3,833 $ 4,334
Schedule of Right-of-Use Assets and Lease Liabilities [Table Text Block]	The right-of-use assets and lease liabilities recorded on our Condensed Consolidated Balance Sheets as of August 2, 2020 were: August 2, 2020 February 2, 2020 Real estate $ 36,909 $ 38,175 Property and equipment 1,078 1,337 Total operating leases right-of-use assets $ 37,987 $ 39,512 Current portion of operating lease liabilities $ 6,844 $ 6,307 Long term operating lease liabilities 32,411 33,794 Total operating lease liabilities $ 39,255 $ 40,101
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	The following table reconciles the undiscounted future lease payments for operating leases to the operating lease liabilities recorded in the condensed consolidated balance sheets on August 2, 2020: Undiscounted Future Operating Lease Payments Remainder of 2020 $ 3,947 2021 7,451 2022 5,671 2023 5,726 2024 5,280 2025 and thereafter 15,205 Total lease payments $ 43,280 Less: impact of discounting (4,025 ) Present value of lease payments $ 39,255

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Aug. 02, 2020
Supplemental Retirement Income Plan ("SRIP") and Supplemental Executive Retirement Plan ("SERP") [Member]
Employee Benefit Plans (Tables) [Line Items]
Schedule of Net Benefit Costs [Table Text Block]	Thirteen Weeks Ended Twenty-Six Weeks Ended August 2, August 4, August 2, August 4, 2020 2019 2020 2019 Net periodic benefit costs Service cost 32 26 64 52 Interest cost 74 204 148 409 Actuarial loss 84 37 169 74 Expected return on pension plan assets - (101 ) - (202 ) Expected administrative expenses - 98 - 195 Consolidated net periodic benefit costs $ 190 $ 264 $ 381 $ 528

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Aug. 02, 2020
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: August 2, February 2, 2020 2020 Restricted shares 57 46 RSUs and PSUs 159 76 216 122
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table sets forth the computation of basic and diluted earnings per share: Thirteen Weeks Ended Twenty-Six Weeks Ended August 2, August 4, August 2, August 4, 2020 2019 2020 2019 Net income/(loss) $ 5,774 $ 4,160 $ (29,045 ) $ 6,147 Less: Unvested participating restricted stock dividends 9 7 17 10 Net earnings allocated to unvested participating restricted stock 28 15 - 18 Earnings/(loss) available for common shareholders 5,737 4,138 (29,062 ) 6,119 Weighted average shares outstanding for basic earnings per share 11,824 11,787 11,811 11,778 Dilutive effect of unvested restricted stock, RSU and PSU awards 29 23 * 33 Weighted average shares outstanding for diluted earnings per share 11,853 11,810 11,811 11,811 Basic earnings/(loss) per share $ 0.49 $ 0.35 $ (2.46 ) $ 0.52 Diluted earnings/(loss) per share $ 0.48 $ 0.35 $ (2.46 ) $ 0.52 *Due to the fiscal 2021 year-to-date net loss, approximately 31,000 shares would have been antidilutive and are therefore excluded from the calculation of earnings per share for the twenty-six weeks ended August 2, 2020.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Aug. 02, 2020
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. Prior-year information has been recast to reflect the changes in segments discussed above: Thirteen Weeks Ended Twenty-Six Weeks Ended August 2, 2020 August 4, 2019 August 2, 2020 August 4, 2019 % Net % Net % Net % Net Net Sales Sales Sales Sales Sales Hooker Branded $ 38,820 29.7 % $ 39,405 25.9 % $ 65,982 28.1 % $ 79,004 27.5 % Home Meridian 71,168 54.6 % 87,188 57.3 % 128,833 54.7 % 154,818 53.8 % Domestic Upholstery 17,507 13.4 % 22,663 14.8 % 34,290 14.6 % 47,987 16.7 % All Other 3,042 2.3 % 2,992 2.0 % 6,029 2.6 % 5,957 2.0 % Consolidated $ 130,537 100.0 % $ 152,248 100.0 % $ 235,134 100.0 % $ 287,766 100.0 % Gross Profit Hooker Branded $ 12,443 32.1 % $ 11,820 30.0 % $ 20,448 31.0 % $ 24,376 30.9 % Home Meridian 10,510 14.8 % 10,951 12.6 % 17,320 13.4 % 16,854 10.9 % Domestic Upholstery 3,021 17.3 % 4,917 21.7 % 5,804 16.9 % 10,919 22.8 % All Other 1,026 33.7 % 1,138 38.0 % 2,082 34.5 % 2,194 36.8 % Consolidated $ 27,000 20.7 % $ 28,826 18.9 % $ 45,654 19.4 % $ 54,343 18.9 % Operating Income/(Loss) Hooker Branded $ 6,090 15.7 % $ 4,088 10.4 % $ 7,423 11.2 % $ 9,265 11.7 % Home Meridian 1,083 1.5 % (66 ) -0.1 % (29,265 ) -22.7 % (5,059 ) -3.3 % Domestic Upholstery (10 ) -0.1 % 1,260 5.6 % (16,820 ) -49.1 % 3,552 7.4 % All Other 349 11.5 % 486 16.3 % 736 12.2 % 915 15.4 % Consolidated $ 7,512 5.8 % $ 5,768 3.8 % $ (37,926 ) -16.1 % $ 8,673 3.0 % Capital Expenditures Hooker Branded $ 29 $ 386 $ 82 $ 511 Home Meridian 20 57 108 173 Domestic Upholstery 54 1,680 294 2,965 All Other - 10 - 10 Consolidated $ 103 $ 2,133 $ 484 $ 3,659 Depreciation & Amortization Hooker Branded $ 445 $ 490 $ 894 $ 982 Home Meridian 533 547 1,068 1,078 Domestic Upholstery 700 715 1,397 1,404 All Other 3 3 6 7 Consolidated $ 1,681 $ 1,755 $ 3,365 $ 3,471
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. Prior-year information has been recast to reflect the changes in segments discussed above: As of August 2, As of February 2, 2020 %Total 2020 %Total Identifiable Assets Assets Assets Hooker Branded $ 189,816 57.6 % $ 144,112 45.0 % Home Meridian 93,216 28.3 % 138,313 43.2 % Domestic Upholstery 45,485 13.7 % 36,085 11.3 % All Other 1,242 0.4 % 1,769 0.5 % Consolidated $ 329,759 100.0 % $ 320,279 100.0 % Consolidated Goodwill and Intangibles 27,919 73,429 Total Consolidated Assets $ 357,678 $ 393,708
Revenue from External Customers by Products and Services [Table Text Block]	Sales by product type are as follows: Net Sales (in thousands) Thirteen Weeks Ended Twenty-Six Weeks Ended August 2, 2020 %Total August 4, 2019 %Total August 2, 2020 %Total August 4, 2019 %Total Casegoods $ 79,181 61 % $ 98,488 65 % $ 142,373 61 % $ 182,954 64 % Upholstery 51,356 39 % 53,760 35 % 92,761 39 % 104,812 36 % $ 130,537 100 % $ 152,248 100 % $ 235,134 100 % $ 287,766 100 %

Accounts Receivable (Details) -

Accounts Receivable (Details) - Schedule of Accounts, Notes, Loans and Financing Receivable - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Schedule of Accounts, Notes, Loans and Financing Receivable [Abstract]
Trade accounts receivable	$ 75,198	$ 91,261
Receivable from factor	0	788
Other accounts receivable allowances	(6,526)	(3,493)
Allowance for doubtful accounts	(1,557)	(903)
Accounts receivable	$ 67,115	$ 87,653

Inventories (Details) - Schedul

Inventories (Details) - Schedule of Inventory, Current - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Schedule of Inventory, Current [Abstract]
Finished furniture	$ 80,770	$ 106,495
Furniture in process	1,278	1,304
Materials and supplies	8,151	8,479
Inventories at FIFO	90,199	116,278
Reduction to LIFO basis	(22,492)	(23,465)
Inventories	$ 67,707	$ 92,813

Property, Plant and Equipment_2

Property, Plant and Equipment (Details) - Property, Plant and Equipment - USD ($) $ in Thousands	6 Months Ended
	Aug. 02, 2020	Feb. 02, 2020
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 72,915	$ 72,738
Less accumulated depreciation	46,250	44,089
Total depreciable property, net	26,665	28,649
Land	1,077	1,077
Construction-in-progress	529	181
Property, plant and equipment, net	28,271	29,907
Building and Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 31,316	31,316
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciable Lives	15
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciable Lives	30
Computer Software and Hardware [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 19,243	19,166
Computer Software and Hardware [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciable Lives	3
Computer Software and Hardware [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciable Lives	10
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 9,317	9,271
Property, Plant and Equipment, Depreciable Lives	10
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 9,785	9,737
Property, Plant and Equipment, Depreciable Lives	Term of lease
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,603	2,597
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciable Lives	3
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Depreciable Lives	10
Property, Plant and Equipment, Other Types [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 651	$ 651
Property, Plant and Equipment, Depreciable Lives	5

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Assets measured at fair value
Company-owned life insurance	$ 24,904	$ 24,888
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	24,904	24,888
Fair Value, Inputs, Level 3 [Member]
Assets measured at fair value
Company-owned life insurance	$ 0	$ 0

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019	Feb. 02, 2020
Intangible Assets (Details) [Line Items]
Goodwill and Intangible Asset Impairment			$ 44,318	$ 0	$ 0
Goodwill, Impairment Loss	$ 0	$ 0	39,568	0
Asset Impairment Charges	0	$ 0	4,750	$ 0
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	$ 1,200		1,200
Home Meridian International [Member]
Intangible Assets (Details) [Line Items]
Goodwill, Impairment Loss			23,200
Shenandoah Furniture, Inc, [Member]
Intangible Assets (Details) [Line Items]
Goodwill, Impairment Loss			$ 16,400

Intangible Assets (Details) - S

Intangible Assets (Details) - Schedule of Indefinite-Lived Intangible Assets - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019	Feb. 02, 2020
Indefinite-lived Intangible Assets [Line Items]
Goodwill, Impairment Charges	$ 0	$ 0	$ (39,568)	$ 0
Goodwill, Net Book Value	490		490		$ 40,058
Trademarks and trade names, Impairment Charges	0	$ 0	(4,750)	0
Total non-amortizable assets, Balance	52,715		52,715		52,715
Total non-amortizable assets, Impairment Charges			(44,318)	$ 0	0
Total non-amortizable assets, Net Book Value	8,397		8,397		52,715
Home Meridian International [Member] | Trademarks and Trade Names [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks and trade names, Balance	11,400		11,400		11,400
Trademarks and trade names, Impairment Charges			(4,750)		0
Trademarks and trade names, Net Book Value	6,650		6,650		11,400
Goodwill [Member]
Indefinite-lived Intangible Assets [Line Items]
Goodwill, Balance	40,058		40,058		40,058
Goodwill, Impairment Charges			(39,568)		0
Goodwill, Net Book Value	490		490		40,058
Goodwill [Member] | Home Meridian International [Member]
Indefinite-lived Intangible Assets [Line Items]
Goodwill, Balance	23,187		23,187		23,187
Goodwill, Impairment Charges			(23,187)		0
Goodwill, Net Book Value	0		0		23,187
Goodwill [Member] | Other Segments [Member]
Indefinite-lived Intangible Assets [Line Items]
Goodwill, Balance	16,871		16,871		16,871
Goodwill, Impairment Charges			(16,381)		0
Goodwill, Net Book Value	490		490		16,871
Trademarks and Trade Names [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks and trade names, Balance	12,657		12,657		12,657
Trademarks and trade names, Impairment Charges			(4,750)		0
Trademarks and trade names, Net Book Value	7,907		7,907		12,657
Trademarks and Trade Names [Member] | Bradington-Young [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks and trade names, Balance	861		861		861
Trademarks and trade names, Impairment Charges			0		0
Trademarks and trade names, Net Book Value	861		861		861
Trademarks and Trade Names [Member] | Sam Moore [Member]
Indefinite-lived Intangible Assets [Line Items]
Trademarks and trade names, Balance	396		396		396
Trademarks and trade names, Impairment Charges			0		0
Trademarks and trade names, Net Book Value	$ 396		$ 396		$ 396

Intangible Assets (Details) -_2

Intangible Assets (Details) - Schedule of Finite-Lived Intangible Assets $ in Thousands	6 Months Ended
	Aug. 02, 2020USD ($)
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Balance	$ 19,996
Amortization	(1,162)
Balance	18,834
Order or Production Backlog [Member]
Finite-Lived Intangible Assets [Line Items]
Balance	718
Amortization	(30)
Balance	688
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Balance	20,714
Amortization	(1,192)
Balance	$ 19,522

Leases (Details)

Leases (Details)	3 Months Ended	6 Months Ended
	Aug. 02, 2020USD ($)	Aug. 02, 2020USD ($)
Leases (Details) [Line Items]
Operating Leases, Income Statement, Sublease Revenue	$ 144,000	$ 288,000
Operating Lease, Weighted Average Remaining Lease Term	7 years	7 years
Operating Lease, Weighted Average Discount Rate, Percent	2.75%	2.75%
London Interbank Offered Rate (LIBOR) [Member]
Leases (Details) [Line Items]
Operating Leases of Lessee, Contingent Rentals, Basis Spread on Variable Rate	1.50%	1.50%

Leases (Details) - Lease, Cost

Leases (Details) - Lease, Cost - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Leases (Details) - Lease, Cost [Line Items]
Operating lease cost	$ 2,242	$ 2,301	$ 4,508	$ 4,491
Operating cash outflows	1,931	1,948	3,833	4,334
Operating Lease Costs [Member]
Leases (Details) - Lease, Cost [Line Items]
Operating lease cost	2,153	2,123	4,253	4,200
Variable Lease Cost [Member]
Leases (Details) - Lease, Cost [Line Items]
Operating lease cost	22	0	69	0
Leases Less Then 12 Months [Member]
Leases (Details) - Lease, Cost [Line Items]
Operating lease cost	$ 67	$ 178	$ 186	$ 291

Leases (Details) - Schedule of

Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities [Line Items]
Operating leases right-of-use assets	$ 37,987	$ 39,512
Current portion of operating lease liabilities	6,844	6,307
Long term operating lease liabilities	32,411	33,794
Total operating lease liabilities	39,255	40,101
Real Estate [Member]
Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities [Line Items]
Operating leases right-of-use assets	36,909	38,175
Property, Plant and Equipment [Member]
Leases (Details) - Schedule of Right-of-Use Assets and Lease Liabilities [Line Items]
Operating leases right-of-use assets	$ 1,078	$ 1,337

Leases (Details) - Lessee, Oper

Leases (Details) - Lessee, Operating Lease, Liability, Maturity - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020
Lessee, Operating Lease, Liability, Maturity [Abstract]
Remainder of 2020	$ 3,947
2021	7,451
2022	5,671
2023	5,726
2024	5,280
2025 and thereafter	15,205
Total lease payments	43,280
Less: impact of discounting	(4,025)
Present value of lease payments	$ 39,255	$ 40,101

Long-Term Debt (Details)

Long-Term Debt (Details) $ in Millions	Aug. 02, 2020USD ($)
Long-Term Debt (Details) [Line Items]
Letters of Credit Outstanding, Amount	$ 4.3
Unsecured Term Loan [Member] | Unsecured Debt [Member]
Long-Term Debt (Details) [Line Items]
Long-term Debt	27.2
Line of Credit [Member]
Long-Term Debt (Details) [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity	$ 25.7

Employee Benefit Plans (Details

Employee Benefit Plans (Details) $ in Thousands	3 Months Ended	6 Months Ended
	Aug. 02, 2020USD ($)	Aug. 02, 2020USD ($)
Employee Benefit Plans (Details) [Line Items]
Defined Benefit Plan, Benefit Obligation, Benefits Paid	$ 181	$ 359
Defined Benefit Plan, Expected Future Benefit Payment, Remainder of Fiscal Year	$ 370	$ 370
Supplemental Retirement Income Plan ("SRIP") and Supplemental Executive Retirement Plan ("SERP") [Member]
Employee Benefit Plans (Details) [Line Items]
Defined Benefit Plan, Description		We maintain two “frozen” retirement plans, which are paying benefits and may include active employees among the participants. We do not expect to add participants to these plans in the future. The two plans include:    ■ a supplemental retirement income plan (“SRIP”) for certain former and current executives of Hooker Furniture Corporation; and   ■ the Pulaski Furniture Corporation Supplemental Executive Retirement Plan (“SERP”) for certain former executives.

Employee Benefit Plans (Detai_2

Employee Benefit Plans (Details) - Schedule of Net Benefit Costs - Supplemental Retirement Income Plan ("SRIP") [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Employee Benefit Plans (Details) - Schedule of Net Benefit Costs [Line Items]
Service cost	$ 32	$ 26	$ 64	$ 52
Interest cost	74	204	148	409
Actuarial loss	84	37	169	74
Expected return on pension plan assets	0	(101)	0	(202)
Expected administrative expenses	0	98	0	195
Consolidated net periodic benefit costs	$ 190	$ 264	$ 381	$ 528

Earnings Per Share (Details)

Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	29,000	23,000	31,000	33,000

Earnings Per Share (Details) -

Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units - shares shares in Thousands	Aug. 02, 2020	Feb. 02, 2020
Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units [Line Items]
Number of Shares Outstanding	216	122
Restricted Stock [Member]
Earnings Per Share (Details) - Schedule of Restricted Stock and Restricted Stock Units [Line Items]
Number of Shares Outstanding	57	46
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	159	76

Earnings Per Share (Details) _2

Earnings Per Share (Details) - Schedule of Earnings Per Share, Basic and Diluted - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Schedule of Earnings Per Share, Basic and Diluted [Abstract]
Net income/(loss)	$ 5,774	$ 4,160	$ (29,045)	$ 6,147
Less: Unvested participating restricted stock dividends	9	7	17	10
Net earnings allocated to unvested participating restricted stock	28	15	0	18
Earnings/(loss) available for common shareholders	$ 5,737	$ 4,138	$ (29,062)	$ 6,119
Weighted average shares outstanding for basic earnings per share (in Shares)	11,824,000	11,787,000	11,811,000	11,778,000
Dilutive effect of unvested restricted stock, RSU and PSU awards (in Shares)	29,000	23,000	31,000	33,000
Weighted average shares outstanding for diluted earnings per share (in Shares)	11,853,000	11,810,000	11,811,000	11,811,000
Basic earnings/(loss) per share (in Dollars per share)	$ 0.49	$ 0.35	$ (2.46)	$ 0.52
Diluted earnings/(loss) per share (in Dollars per share)	$ 0.48	$ 0.35	$ (2.46)	$ 0.52

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019	Feb. 02, 2020
Income Taxes (Details) [Line Items]
Income Tax Expense (Benefit)	$ 1,610	$ 1,248	$ (9,259)	$ 1,763
Effective Income Tax Rate Reconciliation, Percent	21.80%	23.10%	24.20%	22.30%
Other Tax Expense (Benefit)			$ (5,400)
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 3		3		$ 3
Goodwill and Trade Name Impairment Charges [Member]
Income Taxes (Details) [Line Items]
Income Tax Expense (Benefit)			$ (10,700)

Segment Information (Details)

Segment Information (Details)	6 Months Ended
	Aug. 02, 2020
Segment Reporting [Abstract]
Number of Reportable Segments	3

Segment Information (Details) -

Segment Information (Details) - Segment Reporting Information - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Segment Reporting Information [Line Items]
Net Sales	$ 130,537	$ 152,248	$ 235,134	$ 287,766
% of Net Sales	100.00%	100.00%	100.00%	100.00%
Gross Profit
Gross Profit	$ 27,000	$ 28,826	$ 45,654	$ 54,343
% of Net Sales, Gross Profit	20.70%	18.90%	19.40%	18.90%
Operating Income/(Loss)
Operating Income	$ 7,512	$ 5,768	$ (37,926)	$ 8,673
% of Net Sales, Operating Income	5.80%	3.80%	(16.10%)	3.00%
Capital Expenditures
Capital Expenditures	$ 103	$ 2,133	$ 484	$ 3,659
Depreciation & Amortization
Depreciation & Amortization	1,681	1,755	3,365	3,471
Hooker Branded [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 38,820	$ 39,405	$ 65,982	$ 79,004
% of Net Sales	29.70%	25.90%	28.10%	27.50%
Gross Profit
Gross Profit	$ 12,443	$ 11,820	$ 20,448	$ 24,376
% of Net Sales, Gross Profit	32.10%	30.00%	31.00%	30.90%
Operating Income/(Loss)
Operating Income	$ 6,090	$ 4,088	$ 7,423	$ 9,265
% of Net Sales, Operating Income	15.70%	10.40%	11.20%	11.70%
Capital Expenditures
Capital Expenditures	$ 29	$ 386	$ 82	$ 511
Depreciation & Amortization
Depreciation & Amortization	445	490	894	982
Home Meridian International [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 71,168	$ 87,188	$ 128,833	$ 154,818
% of Net Sales	54.60%	57.30%	54.70%	53.80%
Gross Profit
Gross Profit	$ 10,510	$ 10,951	$ 17,320	$ 16,854
% of Net Sales, Gross Profit	14.80%	12.60%	13.40%	10.90%
Operating Income/(Loss)
Operating Income	$ 1,083	$ (66)	$ (29,265)	$ (5,059)
% of Net Sales, Operating Income	1.50%	(0.10%)	(22.70%)	(3.30%)
Capital Expenditures
Capital Expenditures	$ 20	$ 57	$ 108	$ 173
Depreciation & Amortization
Depreciation & Amortization	533	547	1,068	1,078
Upholstery [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 17,507	$ 22,663	$ 34,290	$ 47,987
% of Net Sales	13.40%	14.80%	14.60%	16.70%
Gross Profit
Gross Profit	$ 3,021	$ 4,917	$ 5,804	$ 10,919
% of Net Sales, Gross Profit	17.30%	21.70%	16.90%	22.80%
Operating Income/(Loss)
Operating Income	$ (10)	$ 1,260	$ (16,820)	$ 3,552
% of Net Sales, Operating Income	(0.10%)	5.60%	(49.10%)	7.40%
Capital Expenditures
Capital Expenditures	$ 54	$ 1,680	$ 294	$ 2,965
Depreciation & Amortization
Depreciation & Amortization	700	715	1,397	1,404
Other Segments [Member]
Segment Reporting Information [Line Items]
Net Sales	$ 3,042	$ 2,992	$ 6,029	$ 5,957
% of Net Sales	2.30%	2.00%	2.60%	2.00%
Gross Profit
Gross Profit	$ 1,026	$ 1,138	$ 2,082	$ 2,194
% of Net Sales, Gross Profit	33.70%	38.00%	34.50%	36.80%
Operating Income/(Loss)
Operating Income	$ 349	$ 486	$ 736	$ 915
% of Net Sales, Operating Income	11.50%	16.30%	12.20%	15.40%
Capital Expenditures
Capital Expenditures	$ 0	$ 10	$ 0	$ 10
Depreciation & Amortization
Depreciation & Amortization	$ 3	$ 3	$ 6	$ 7

Segment Information (Details)_2

Segment Information (Details) - Assets from Segments to Consolidated - USD ($) $ in Thousands	Aug. 02, 2020	Feb. 02, 2020	Aug. 04, 2019
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 329,759		$ 320,279
% Total Assets	100.00%		100.00%
Consolidated Goodwill and Intangibles	$ 27,919		$ 73,429
Total Consolidated Assets	357,678	$ 393,708	393,708
Hooker Branded [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 189,816		$ 144,112
% Total Assets	57.60%		45.00%
Home Meridian International [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 93,216		$ 138,313
% Total Assets	28.30%		43.20%
Upholstery [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 45,485		$ 36,085
% Total Assets	13.70%		11.30%
Other Segments [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 1,242		$ 1,769
% Total Assets	0.40%		0.50%

Segment Information (Details)_3

Segment Information (Details) - Revenue from External Customers by Products and Services - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Aug. 02, 2020	Aug. 04, 2019	Aug. 02, 2020	Aug. 04, 2019
Revenue from External Customer [Line Items]
Net Sales	$ 130,537	$ 152,248	$ 235,134	$ 287,766
% Total	100.00%	100.00%	100.00%	100.00%
Casegoods [Member]
Revenue from External Customer [Line Items]
Net Sales	$ 79,181	$ 98,488	$ 142,373	$ 182,954
% Total	61.00%	65.00%	61.00%	64.00%
Upholstery [Member]
Revenue from External Customer [Line Items]
Net Sales	$ 51,356	$ 53,760	$ 92,761	$ 104,812
% Total	39.00%	35.00%	39.00%	36.00%

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	Sep. 02, 2020$ / shares
Subsequent Events (Details) [Line Items]
Dividends Payable, Date Declared	Sep. 2, 2020
Common Stock, Dividends, Per Share, Declared	$ 0.16
Dividends Payable, Date to be Paid	Sep. 30, 2020
Dividends Payable, Date of Record	Sep. 18, 2020