Global Value Investment Corp issued a letter to the shareholders of Hooker Furnishings Corporation (HOFT)

Market Cap: $115 million| Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture products. 

On June 5, 2025, Jeff Geygan, founder of Global Value Investment Corp and holder of 5.1% of Hooker Furnishings, criticized the company’s prolonged underperformance, citing a 53.2% stock decline since GVIC’s 2020 investment and sharp deterioration in financial metrics. He attributed the decline to poor strategic decisions, failed acquisitions, flawed warehousing, and a costly ERP rollout. Geygan also flagged the board’s lack of meaningful equity ownership and accountability, particularly targeting Chairman Beeler’s 32-year tenure with minimal stock ownership. After two years of unsuccessful private engagement, GVIC plans to seek governance rights and may nominate directors ahead of the next annual meeting. Source