EXHIBIT 99.1

Hooker Furniture Nearly Doubles Profitability for Fiscal 2012 Third Quarter

MARTINSVILLE, Va., Dec. 6, 2011 (GLOBE NEWSWIRE) -- Hooker Furniture (Nasdaq:HOFT) today reported net sales of $54.2 million and net income of $2.3 million, or $0.21 per share, for its fiscal 2012 third quarter which began on August 1, 2011 and ended October 30, 2011.

Compared to the same period a year ago, fiscal 2012 third quarter:

• net income increased by $1.1 million,
• earnings per share increased from $0.11 per share to $0.21 per share, and
• operating profitability increased by two hundred basis points to $2.7 million, or 5% of net sales, (compared to operating income of $1.7 million or 3% of net sales in the third quarter a year ago).

Compared to last year, fiscal 2012 third quarter net sales decreased $1.6 million, or 2.8%, to $54.2 million from $55.7 million in the corresponding fiscal 2011 third quarter. The sales dip was driven by softened consumer demand, lower unit volume and higher product discounting, partially offset by higher average selling prices due to the mix of products shipped.

For the first nine months of the 2012 fiscal year, which began on January 31, 2011, net sales increased $7.7 million, or 4.8%, to $168.1 million compared to $160.5 million for the same period a year ago. The Company reported higher net income for the fiscal 2012 first nine months of $4.4 million, or $0.41 per share, compared with net income of $3.4 million, or $0.32 per share, in the fiscal 2011 nine-month period.

"While we're disappointed we weren't able to post positive year-over-year sales growth for the quarter, we're pleased to have nearly doubled quarterly net income from a year ago and to have achieved the best overall profitability performance in the last seven quarters, despite the slight sales dip," said Paul B. Toms Jr., chairman and chief executive officer.

Gross profit increased $462,000 to $12.7 million, or 23.5% of net sales, in the fiscal 2012 third quarter, compared to $12.3 million, or 22.0% of net sales in the same period a year ago. Gross margin for the wood furniture division increased to 28.2% of net sales from 25.9% in last year's third quarter, primarily due to lower freight costs for imported furniture, partially offset by increased discounting due to a continued effort to reduce overstocked inventory. Gross margins for upholstered furniture were essentially flat at approximately 14.5% in both the 2012 and 2011 fiscal third quarters, primarily due to cost reduction efforts and higher average fabric upholstery selling prices implemented over the past twelve months, offset by increased raw material costs, the effect of reduced volume on overhead absorption and a casualty loss expense of $181,000 ($113,000, or $0.01 per share, after tax) related to a sprinkler malfunction at one of our warehouses during the third quarter.

"Hooker Furniture is a more efficient organization today than in the past several years, which contributed to our improved profit margins," said Toms. "We've done a good job of bringing down selling and administration expenses and other costs we can control."

Selling and administrative expenses decreased both as a percentage of sales and in absolute terms compared to both fiscal 2011 periods. For the fiscal year 2012 third quarter, selling and administrative expenses were 18.5% of net sales, or $10.0 million, as compared to 19.0% of net sales, or $10.6 million, for the same period a year ago. The decrease in spending was primarily due to:

• decreased salaries and other employee-related costs, due to realignments in our officer group;
• lower advertising supplies and sample expenses due to cost cutting measures;
• lower contributions expense, due to decreased donations of second-quality inventory;
• lower bad debts expense, due to adjustments in our accounts receivable reserves to reflect favorable collection trends; and
• lower depreciation and amortization expense, primarily due to decreased information systems spending on our legacy systems in anticipation of our current Enterprise Resource Planning (ERP) project.

These decreases in selling and administrative expenses were partially offset by higher sales commissions, higher ERP-related expenses and by a $233,000 ($145,000, or $0.01 per share, after tax) charge to write down leasehold improvements related to relocating and consolidating our showroom space at our High Point, NC showroom.

"We continue to proactively invest in our business, with two of the most notable examples being our ongoing ERP project and our investment in a new consolidated and renovated showroom which will open at the April 2012 High Point Market," said Toms. "We are now about two years into the ERP project to integrate and improve our operating systems, and expect to go live in case goods early next year with upholstery coming on line soon after. We are excited about the new showroom, which will create an exceptional presentation environment for our brands."

Operating profitability for the fiscal 2012 third quarter increased two hundred basis points compared to the fiscal 2011 third quarter. This increase primarily reflects improved gross margins and lower selling and administrative expenses. As a result, the Company realized operating income for the fiscal year 2012 third quarter of $2.7 million, or 5% of net sales, compared to operating income of $1.7 million, or 3% of net sales, in the fiscal year 2011 third quarter.

For the first nine-months of fiscal 2012, the Company's operating income increased to $5.9 million, or 3.5% of net sales, compared to operating income of $4.9 million, or 3.1% of net sales, in the first nine months of fiscal 2011.

The Company reported net income for the 2012 first nine months of $4.4 million, or $0.41 per share, compared with net income of $3.4 million, or $0.32 per share, in the fiscal 2011 nine-month period. Fiscal year 2011 first nine-month's results included a $500,000 charge ($312,000, or $0.03 per share, after tax), representing the Company's insurance deductible for a fire at one of its distribution facilities during the fiscal 2011 first quarter.

Cash, Inventory and Debt

Cash and cash equivalents increased $16.1 million to $32.7 million as of October 30, 2011 from $16.6 million on January 30, 2011, due principally to decreased inventories and accounts receivable, partially offset by increases in prepaid expenses and decreased accounts payable.

"We've continued to reduce inventories and are now close to our target range," Toms said. "As we have streamlined inventories, we've been able to maintain service levels and are over 95% in-stock on the best-selling items that drive our business."

The Company had no long-term debt at October 31, 2011. At quarter-end, it had $13.2 million available on its revolving line of credit and $15.8 million available to borrow on the cash surrender value of company-owned life insurance policies.

Business Outlook

"Although consumer demand softened noticeably beginning in April through late September, we've seen an improvement in incoming orders over the last 60 days," said Toms. "Some of our well-received products from the Spring 2011 High Point Market are now hitting retail floors and should favorably impact our sales during our fiscal fourth quarter and beyond. There are still a number of uncertainties in the economy that we believe are deflating consumer confidence such as lingering high unemployment, a volatile stock market, the depressed housing market and the government's inability to get the federal deficit under control. While we're not bullish about the overall economy in the near term, we are bullish about our opportunity to further improve profitability and our competitive position in the industry."

Announcements

On August 22, 2011, the Company announced that the Board of Directors promoted Alan Cole to President of the Corporation and Michael Delgatti to President of Hooker Upholstery. "We're very pleased to have Alan's involvement in the casegoods business and believe his focus on sales and marketing will give us more synergy between all of our operating divisions," Toms said. "Michael's promotion will better leverage his talents and expose him to more responsibility."

Dividends

At its December 6, 2011 meeting, The Company's board of directors declared a quarterly cash dividend of $0.10 per share, payable on February 24, 2012 to shareholders of record at February 10, 2012.

Conference Call Details

Hooker Furniture will present its fiscal 2012 third quarter results via teleconference and live internet web cast on Wednesday morning, December 7, 2011 at 9:00 AM Eastern Time. The dial-in number for domestic callers is 877-665-2466 and the number for international callers is 678-894-3031. The call will be simultaneously web cast and archived for replay on the Company's web site at www.hookerfurniture.com in the Investor Relations section.

Ranked among the nation's top 10 largest publicly traded furniture sources based on 2010 shipments to U.S. retailers, Hooker Furniture Corporation is an 88-year old residential wood, metal and upholstered furniture resource. Major wood furniture product categories include home entertainment, home office, accent, dining, and bedroom furniture in the upper-medium price points sold under the Hooker Furniture brand, and sold at moderate price points under the Envision Lifestyle Collections by Hooker Furniture brand. Youth bedroom furniture is sold under the Opus Designs by Hooker Furniture brand. Hooker's residential upholstered seating companies include Hickory, N.C.-based Bradington-Young LLC, a specialist in upscale motion and stationary leather furniture, and Bedford, Va.-based Sam Moore Furniture LLC, a specialist in upscale fabric occasional chairs with an emphasis on cover-to-frame customization. Please visit our websites at www.hookerfurniture.com, www.envisionfurniture.com, www.bradington-young.com, www.sammoore.com and www.opusdesigns.com.

The Hooker Furniture Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4305

Statements made in this release, other than those concerning historical financial information, may be considered forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to: (1) general economic or business conditions, both domestically and internationally, and instability in the financial and credit markets, including their potential impact on our (i) sales and operating costs and access to financing, (ii) customers and suppliers and their ability to obtain financing or generate the cash necessary to conduct their respective businesses; (2) price competition in the furniture industry; (3) changes in domestic and international monetary policies and fluctuations in foreign currency exchange rates affecting the price of our imported products and raw materials; (4) the cyclical nature of the furniture industry, which is particularly sensitive to changes in consumer confidence, the amount of consumers' income available for discretionary purchases, and the availability and terms of consumer credit; (5) risks associated with the cost of imported goods, including fluctuation in the prices of purchased finished goods and transportation and warehousing costs; (6) supply, transportation and distribution disruptions, particularly those affecting imported products, including the availability of shipping containers and cargo ships; (7) adverse political acts or developments in, or affecting, the international markets from which we import products, including duties or tariffs imposed on those products; (8) risks associated with domestic manufacturing operations, including fluctuations in capacity utilization and the prices and availability of key raw materials as well as changes in transportation, warehousing and domestic labor costs and environmental compliance and remediation costs; (9) our ability to successfully implement our business plan to increase sales and improve financial performance; (10) risks associated with distribution through third-party retailers, such as non-binding dealership arrangements; (11) capital requirements and costs; (12) competition from non-traditional outlets, such as catalog and internet retailers and home improvement centers; (13) changes in consumer preferences, including increased demand for lower-quality, lower-priced furniture due to declines in consumer confidence and/or discretionary income available for furniture purchases and the availability of consumer credit; (14) higher than expected costs associated with product quality and safety, including regulatory compliance costs related to the sale of consumer products and costs related to defective or non-compliant products; (15) the direct and indirect costs associated with the implementation of our Enterprise Resource Planning system, including costs resulting from unanticipated disruptions to our business; (16) and achieving and managing growth and change, and the risks associated with acquisitions, restructurings, strategic alliances and international operations. Any forward looking statement that the Company makes speaks only as of the date of that statement, and the Company undertakes no obligation, except as required by law, to update any forward-looking statements whether as a result of new information, future events, or otherwise.

CONTACT: Paul B. Toms Jr.
         Chairman & Chief Executive Officer
         Phone: (276) 632-2133, or
         Paul Huckfeldt, Vice President Finance & Accounting,
         Chief Financial Officer
         Phone: (276) 632-2133, or
         Kim D. Shaver
         Vice President, Marketing Communications
         Phone: (336) 880-1230