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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BASSETT, Va., Aug. 17, 2021 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that it will participate in the Sidoti Microcap Conference taking place virtually on Wednesday, August 18th with a presentation scheduled for 1:00 pm and one-on-one meetings for the entire day.

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Bassett Furniture Industries Inc (NASDAQ: BSET) said its Board of Directors has increased the quarterly dividend by 12% to $0.14 per share of outstanding common stock. The dividend is payable on August 27, 2021, to shareholders of record at the close of business on August 13, 2021.

Bassett Furniture Hikes Dividend By 12%, Boosts Buyback

BASSETT, Va., July 15, 2021 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors has increased the quarterly dividend by 12% by declaring a dividend of $0.14 per share of outstanding common stock payable on August 27, 2021 to shareholders of record at the close of business on August 13, 2021. In addition, the Board of Directors has increased the Company's existing share repurchase authorization by approximately $16 million back to the original limit of $20 million.

Bassett Announces 12% Increase in Quarterly Dividend & Increase to Share Repurchase Authorization

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News for Bassett Furniture Stock (BSET)