Operator

Good day, and thank you for standing by. Welcome to the Hooker Furnishings Corp. First Quarter 2027 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Earl Armstrong, Senior Vice President and Chief Financial Officer. Sir, please go ahead.

Earl Armstrong
CFO, Principal Financial & Accounting Officer and Senior VP of Finance

Thank you, Michelle, and good morning, everyone. Welcome to our quarterly conference call to review financial results for the fiscal 2027 first quarter. Our 2027 first quarter began on February 2nd, 2026, and ended on May 3rd, 2026. Joining me today is Jeremy Hoff, our Chief Executive Officer. We appreciate your participation.

During our call, we may make forward-looking statements, which are subject to risks and uncertainties. A discussion of factors that could cause our actual results to differ materially from management's expectations is contained in our press release and SEC filing announcing our fiscal 2027 first quarter results. Any forward-looking statement speaks only as of today, and we undertake no obligation to update or revise any forward-looking statement to reflect events or circumstances after today's call.

Despite continued weakness in the housing market, soft retail demand for furniture and home furnishings, and persistent macroeconomic challenges, we delivered net income of $1.1 million for the quarter, reflecting the benefits of our cost reduction initiatives, improved gross margin performance, and ongoing progress