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.

Here is how Bassett Furniture (BSET) and Cumulus Media (CMLS) have performed compared to their sector so far this year.

Has Bassett Furniture Industries (BSET) Outpaced Other Consumer Discretionary Stocks This Year?

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Is Bassett Furniture Industries (BSET) Stock Undervalued Right Now?

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+43% EPS growth, well ahead of consensus.

Bassett Furniture: EPS +43% And Above Consensus, 12% Dividend Yield, 61% Net Cash

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We expect the Q1 earnings reporting season to be rocky. Inflation and supply chain headwinds are mounting in the wake of the Ukrainian invasion and threaten both the top and bottom lines of many businesses.

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Bassett (BSET) delivered earnings and revenue surprises of 22.22% and 7.28%, respectively, for the quarter ended February 2022. Do the numbers hold clues to what lies ahead for the stock?

Bassett Furniture (BSET) Beats Q1 Earnings and Revenue Estimates

Bassett Furniture Industries Inc's (NASDAQ: BSET) Board has increased the company's share repurchase authorization to $40 million. The Board has declared a special dividend of $1.50 per share of common stock, payable on April 6, 2022, to shareholders of record on March.

Bassett Boosts Buyback, Declares Special Dividend

BASSETT, Va., March 11, 2022 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors has:

Bassett Declaration of Special Dividend, Regular Dividend and an Increase in Share Repurchase Authorization

Sale of Zenith Freight Lines is a big positive and will improve net cash per share. $11.90 net cash per share [including proceeds from the sale] represents 66% of the stock price.

Bassett Furniture: Strong Results, Special Dividend Likely With Huge Net Cash

J.B. Hunt Transport Services

J B Hunt Transport Services Inc (NASDAQ: JBHT) has agreed to acquire the assets of Zenith Freight Lines LLC, a wholly-owned subsidiary of Bassett Furniture Industries Inc (NASDAQ: BSET), for about $87 million. Based in Conover, NC, and founded by Jack and Debbie Hawn, Zenith provides specialized LTL transportation services for furniture manufacturers and retailers in the continental U.S.

J B Hunt To Acquire Zenith Freight Lines From Bassett For ~$87M

Shares of Bassett Furniture Industries Inc (NASDAQ: BSET) are up 30% on Monday after the furniture manufacturer and retailer announced an $87 million deal with J.B. Hunt Transport Services Inc. Bassett also reported its Q4 results this morning.

Basset Furniture shares are up 30% on Monday: this is why

J.B. Hunt Transport announced Monday it entered an agreement to acquire furniture hauler Zenith Freight Lines for $87 million. The deal is expected to bolster J.B.

J.B. Hunt acquires furniture hauler from Bassett in $87M deal

BASSETT, Va., Jan. 31, 2022 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today its results of operations for its fourth quarter ended November 27, 2021 and discusses the previously announced sale of the assets of Zenith Freight Lines, LLC for $87 million in cash.

Bassett Announces Fiscal Fourth Quarter Results and Discusses Sale of Zenith Assets

BASSETT, Va. & LOWELL, Ark.--(BUSINESS WIRE)--J.B. Hunt Transport Services Inc. (NASDAQ: JBHT), one of the largest supply chain solutions providers in North America, and Bassett Furniture Industries, Inc. (NASDAQ: BSET), a leading manufacturer and marketer of high-quality home furnishings, announced today that Bassett and J.B. Hunt Transport, Inc., the wholly-owned operating subsidiary of J.B. Hunt Transport Services, Inc., have entered into a definitive agreement under which J.B. Hunt Transpor

J.B. Hunt to Acquire Zenith Freight Lines From Bassett

Bassett Furniture Industries has severely disappointed as of late, driven by concerns over the company's long-term stability. This comes despite some recent positive results that show the company is turning around.

Bassett Furniture Industries: A Decent Company At A Great Price

Bassett Furniture Industries' (BSET) fiscal fourth-quarter earnings are likely to have been hurt by supply-related issues and intense inflation.

Bassett (BSET) to Post Q4 Earnings: What's in the Offing?

Bassett: +41% EPS, 33% Net Cash And 5x P/E Make For An Attractive Buying Opportunity

Bassett Furniture Industries Inc (NASDAQ: BSET) reported third-quarter FY21 sales growth of 29.8% year-on-year, to $118.91 million, missing the analyst consensus of $119.50 million. Sales from Wholesale rose 32.1% Y/Y, Retail increased 21.8%, and Logistical Services grew 19.1%.

Bassett Furniture Reports Mixed Q3 Earnings

Bassett (BSET) delivered earnings and revenue surprises of 0.00% and 5.69%, respectively, for the quarter ended August 2021. Do the numbers hold clues to what lies ahead for the stock?

Bassett Furniture (BSET) Matches Q3 Earnings Estimates

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) is a manufacturer and marketer of home furniture.

Furniture Giant Looks Like an Attractive Pick for Options Buyers

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Are Investors Undervaluing Bassett Furniture (BSET) Right Now?

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News for Bassett Furniture Stock (BSET)