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.

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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.

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The holiday season has historically been great for the economy as consumers increase spending. Even though this year has been among the most volatile and unprofitable for investors, the retail sector is still strong and is set to benefit from increased consumer spending.

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This is our 3rd Portfolio stock to receive a takeover offer in past 3 months, with Pzena Investment Management [PZN] being acquired for a 66% premium in August. BSET receives 2 bids, including a $21.00 all-cash offer [a 27% stock price premium] – but BSET has rejected the offer as being opportunistic.

Bassett Furniture: 2 Takeover Offers, 12% Dividend, 52% Net Cash

Board Unanimously Rejected CSC Proposals as They Undervalued the Company Board Unanimously Rejected CSC Proposals as They Undervalued the Company

Bassett Comments on Proposal by CSC Generation Holdings

Bassett Furniture Industries Inc. BSET, +13.57% rallied 15% in early trades Tuesday after CSC Generation Holdings Inc. offered to buy the company for $21 a share. CSC Generation said it's making the offer public because the company “has been unwilling to engage with us in any meaningful way.

Basset Furniture rallies after CSC Generation discloses buyout offer

MERRILLVILLE, Ind.--(BUSINESS WIRE)--CSC Generation Holdings, Inc. today released the below correspondence sent to Bassett Furniture Industries, Incorporated (Nasdaq: BSET), which details CSC's $21 per share all-cash acquisition proposal. October 11, 2022 The Board of Directors Bassett Furniture Industries, Incorporated 3525 Fairystone Park Highway Bassett, Virginia 24055 Members of the Board of Directors: As you know, CSC Generation Holdings, Inc. (together with its affiliates, “CSC” or “we”)

CSC Generation Submits Proposal to Acquire Bassett Furniture Industries for $21 Per Share in Cash

Bassett (BSET) delivered earnings and revenue surprises of 31.25% and 1.37%, respectively, for the quarter ended August 2022. Do the numbers hold clues to what lies ahead for the stock?

Bassett Furniture (BSET) Q3 Earnings Beat Estimates

BASSETT, Va., Sept. 06, 2022 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ: BSET) announced today that it has acquired the capital stock of Noa Home Inc. (“Noa”), a mid-priced e-commerce furniture retailer headquartered in Montreal, Canada. Noa has operations in Canada, Australia, Singapore and the United Kingdom and had net revenues of approximately C$19.1 million for its most recent fiscal year. The purchase price included cash payments of C$2.0 million paid to the co-founders of Noa and approximately C$5.7 million for the repayment of existing debt. The Noa co-founders will also have the opportunity to receive additional annual cash payments of C$1.33 million per year for the following three fiscal years based on established increases in net revenues and achieving certain internal EBITDA goals.

Bassett Announces Purchase of Noa Home Inc.

Here is how Bassett Furniture (BSET) and Caleres Inc. (CAL) have performed compared to their sector so far this year.

Are Consumer Discretionary Stocks Lagging Bassett Furniture Industries (BSET) This Year?

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Should Value Investors Buy Bassett Furniture Industries (BSET) Stock?

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Here is how Bassett Furniture (BSET) and iQIYI, Inc. Sponsored ADR (IQ) have performed compared to their sector so far this year.

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Bassett (BSET) continues to impress investors with a 14% dividend increase.

Bassett (BSET) Cheers Investors with a 14% Dividend Increase

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After Golden Cross, Bassett Furniture (BSET)'s Technical Outlook is Bright

Bassett Furniture, with 97 U.S. retail stores, and goods sold through various channels, is one of the oldest furniture makers in America. My proprietary momentum formulas are signaling an imbalance of buying vs. selling in the stock now exists.

Real-Time VBR Buy Signal: Bassett Furniture (Technical Analysis)

BASSETT, Va., July 14, 2022 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors has increased the quarterly dividend by 14%, declaring a regular quarterly dividend of $0.16 per share of common stock, payable on August 26, 2022, to shareholders of record at the close of business on August 12, 2022.

Bassett Increases Regular Quarterly Dividend by 14%

The entire furniture industry has been in a correction and Basset Furniture (NASDAQ: BSET) was not immune. The correction was driven by historically high valuations, fear of slowing growth, peak-rebound, and a round of COVID-related shutdowns that had manufacturing in key hubs at a standstill.

Basset Furniture Quietly Proves Its Value

Bassett (BSET) delivered earnings and revenue surprises of 80% and 9.65%, respectively, for the quarter ended May 2022. Do the numbers hold clues to what lies ahead for the stock?

Bassett Furniture (BSET) Q2 Earnings and Revenues Surpass Estimates

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Are Investors Undervaluing Bassett Furniture Industries (BSET) Right Now?

News for Bassett Furniture Stock (BSET)