Bassett Furniture

Bassett Furniture Industries, Inc. engages in manufacturing, marketing, and retailing home furnishings. It operates through the Wholesale and Retail segments. The Wholesale segment focuses on the design, manufacture, sourcing, sale, and distribution of furniture products. The Retail segment consists of local furniture stores, regional furniture retailers, national department, chain stores, and single-vendor branded retailers. The company was founded by John David Bassett, Sr. in 1902 and is headquartered in Bassett, VA.

Earnings data Q1 2021

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Bassett Furniture reports improved margins and strategic restructuring plan

Bassett Furniture's Q2 2024 performance showed revenue challenges but improved gross margins. The restructuring plan aims to drive growth and enhance operational efficiency, with a focus on optimizing inventory and closing non-core businesses. Analyst questions highlighted concerns about the plan's execution and its impact on future profitability.

Bassett Furniture navigates challenges, focuses on growth and efficiency

Bassett Furniture faced challenges from market conditions and operational disruptions but showed resilience in improving gross margins and financial stability.
The company's strategic initiatives and restructuring plan indicate a commitment to long-term growth and efficiency.
While revenue declines and cybersecurity risks pose challenges, Bassett Furniture remains focused on profitability and aligning expenses with revenue.
Opportunities for growth exist through product innovation, digital investments, and operational enhancements despite the current market difficulties.

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Bassett Furniture Industries, Inc. engages in manufacturing, marketing, and retailing home furnishings. It operates through the following segments: Wholesale, Retail, and Corporate and Other. The Wholesale segment focuses on the design, manufacture, sourcing, sale, and distribution of furniture products. The Retail segment consists of company-owned stores and includes the revenues, expenses, assets and liabilities, and capital expenditures. The Corporate and Other segment includes the shared costs of corporate functions such as treasury and finance, information technology, accounting, human resources, legal and others, including certain product development and marketing functions benefitting both wholesale and retail operations. The company was founded by John David Bassett, Sr. in 1902 and is headquartered in Bassett, VA.

BASSETT, Va., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today its results of operations for its fourth quarter ended November 25, 2023.

Bassett Announces Fiscal Fourth Quarter Results

Bassett is facing weak demand and lower earnings due to a poor macroeconomic situation and the divestment of Zenith Freight Lines, completed in 2022. Bassett's future stock performance seems to largely depend on its financial recovery and ability to improve margins. I believe that the stock is currently priced with fair assumptions of future financials, constituting a hold rating.

Bassett Furniture: Eyeing A Financial Recovery

BASSETT, Va., Oct. 05, 2023 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors has declared a regular quarterly dividend of $0.18 per share of common stock, payable on November 24, 2023, to shareholders of record at the close of business on November 10, 2023.

Bassett Announces Regular Fourth Quarter Dividend

Bear of the Day: Bassett Furniture (BSET)

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Bassett Furniture (BSET) came out with a quarterly loss of $0.30 per share versus the Zacks Consensus Estimate of a loss of $0.59. This compares to earnings of $0.84 per share a year ago.

Bassett Furniture (BSET) Reports Q3 Loss, Tops Revenue Estimates

BASSETT, Va., Sept. 28, 2023 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today its results of operations for its third quarter ended August 26, 2023.

Bassett Announces Fiscal Third Quarter Results

Bassett's (BSET) third-quarter results to ail from shut-down stores and inflationary woes.

Bassett (BSET) to Post Q3 Earnings: What's in the Offing?

BASSETT, Va., Sept. 06, 2023 (GLOBE NEWSWIRE) -- September 6, 2023 – Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that consolidated net sales for the quarter ended August 26, 2023 were approximately $87 million or 26% lower than the corresponding period in 2022, and that as a result, it expects to report an operating and net loss for the quarter. While wholesale shipments dropped by 27% for the quarter, wholesale orders were only 5% lower than the prior year quarter. In spite of the expected net loss, the Company will report positive operating cash flow and a cash and short-term investment balance in excess of $65 million.

Bassett Announces Certain Preliminary Financial Results for the Fiscal Third Quarter

Bassett (BSET) continues to impress investors with regular dividend increases.

Bassett (BSET) Hikes Dividend by 12.5%, Boosts Investors' Value

BASSETT, Va., July 12, 2023 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors has increased the quarterly dividend by 12.5%, declaring a regular quarterly dividend of $0.18 per share of common stock, payable on August 25, 2023, to shareholders of record at the close of business on August 11, 2023.

Bassett Increases Quarterly Dividend by 12.5%

The furniture industry has struggled, but indications from Bassett Furniture NASDAQ: BSET echo news from other furniture manufacturers and have the shares rocketing higher. The takeaway is that normalization within the industry is at hand, and most manufacturers will “normalize” at a higher pace of business than before the pandemic.

High-Yield Bassett Furniture Rocks Into Reversal

Bassett Furniture (BSET) came out with quarterly earnings of $0.15 per share, beating the Zacks Consensus Estimate of $0.02 per share. This compares to earnings of $0.81 per share a year ago.

Bassett Furniture (BSET) Beats Q2 Earnings Estimates

BASSETT, Va., June 29, 2023 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today its results of operations for its second quarter ended May 27, 2023.

Bassett Announces Fiscal Second Quarter Results

Despite a bumpy history and several bankruptcies, if a company can survive the panic of 1907, the crash of 1929 and the Great Depression, Black Monday of 1987, and more recently the dot-com crash of 2001, housing crisis of 2008 and the Covid-19 crash in 2020, I think that company is worth a look.

Bassett Furniture: A Small-Cap Value Stock

Bassett Furniture is a top vertical furniture manufacturer/retailer in the U.S., with close to 100 stores. BSET enterprise value is approaching zero, with no debt and a large cash hoard. Overall valuations are similar to past recession lows, which opened strong buy opportunities for investors.

Bassett Furniture: Future Operating Income Available Almost For Free, No Really

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FAIRFIELD, N.J. , May 15, 2023 /PRNewswire/ -- Bassett Furniture Industries, Inc. has signed a contract with Acuative to support its growing need for efficient, state-of-the-art networking communications and security technology.

Bassett Furniture partners with Network-as-a-Service provider Acuative

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Bassett Furniture is a leading home furniture retailer, manufacturer, and marketer in the United States. I believe that it is a great moment to review the business model because demand appears to be normalizing, and shortage of raw materials continues to improve.

Bassett Furniture: Cheap, New Tech Innovations, And Opening In Dallas

Bassett (BSET) delivered earnings and revenue surprises of -11.11% and 2.11%, respectively, for the quarter ended February 2023. Do the numbers hold clues to what lies ahead for the stock?

Bassett Furniture (BSET) Q1 Earnings Lag Estimates

Bassett (BSET) to ail from supply chain headwinds and inflationary woes.

Bassett (BSET) to Report Q1 Earnings: What's in the Store?

BASSETT, Va, March 09, 2023 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors has declared a regular quarterly dividend of $0.16 per share of common stock, payable on May 26, 2023, to shareholders of record at the close of business on May 12, 2023.

Bassett Regular Quarterly Dividend

Bassett (BSET) delivered earnings and revenue surprises of 117.86% and 9.82%, respectively, for the quarter ended November 2022. Do the numbers hold clues to what lies ahead for the stock?

Bassett Furniture (BSET) Q4 Earnings and Revenues Surpass Estimates

Synchrony Financial

Program Will Launch as Part of Synchrony's HOME Network™ STAMFORD, Conn. , Jan. 11, 2023 /PRNewswire/ -- Synchrony (NYSE: SYF), a leading consumer financing company, today announced that they are reestablishing a partnership with Bassett Furniture Industries, Inc. (NASDAQ: BSET) to launch a multi-year financing program.

News for Bassett Furniture Stock (BSET)