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.

Strong February quarter results were above our as well as Bloomberg consensus analyst expectations by 67%. EPS of $0.40 was a 5-year high for 1Q.

Bassett: 59% Upside, 11x P/E And Record Backlog For This Residential Furniture Company

Bassett (BSET) delivered earnings and revenue surprises of 66.67% and -0.47%, respectively, for the quarter ended February 2021. Do the numbers hold clues to what lies ahead for the stock?

Bassett Furniture (BSET) Q1 Earnings Beat Estimates

Bassett (BSET) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.

Bassett (BSET) Stock Jumps 6.3%: Will It Continue to Soar?

Bassett has 64% further upside; the stock has gone up 100% since our recommendation of the stock in early September 2020. Wholesale orders for the first quarter ended FY02/2021 up 44% YoY, creating a record backlog of orders for the company.

Bassett: 27% Net Cash, 11x P/E And Record Wholesale Backlog On Back Of Housing Market

Bassett (BSET) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

Strength Seen in Bassett (BSET): Can Its 11% Jump Turn into More Strength?

BASSETT, Va., March 10, 2021 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that wholesale orders for the quarter ended February 27, 2021 were $83.0 million a 44% increase over the prior year period. In addition, the Company announced that the wholesale shipping backlog was $67.5 million a 362% increase over the backlog reported at February 29, 2020 and a 23% increase over the backlog at November 28, 2020.

Bassett Announces First Quarter Wholesale Orders and Backlog

Bassett Furniture Industries (BSET) has been struggling lately, but the selling pressure may be coming to an end soon.

Bassett Furniture Industries (BSET) Sees Hammer Chart Pattern: Time to Buy?

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

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Bassett now has a $54.9 million record backlog - its wholesale backlog has increased substantially by 47% sequentially. The stock has gone up almost 90% since September, we have revised-up our price target for a total return potential of 51%.

Bassett: Strong EPS And Backlog Set Stock Up For Record Gains In 2021

Bassett (BSET) saw a big move last session, as its shares jumped nearly 9% on the day, amid huge volumes.

Bassett (BSET) Jumps: Stock Rises 8.6%

Bassett (BSET) delivered earnings and revenue surprises of 44.44% and -0.18%, respectively, for the quarter ended November 2020. Do the numbers hold clues to what lies ahead for the stock?

Bassett Furniture (BSET) Q4 Earnings Top Estimates

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With work-from-home set to continue and rise in housing starts, the furniture industry looks poised to grow, calling for investment in names like Bassett Furniture (BSET) and La-Z-Boy (LZB).

News for Bassett Furniture Stock (BSET)