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: Special Dividend On Strong Sales And Orders

BASSETT, Va., Dec. 04, 2020 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors has declared a special dividend of $0.25 per share of common stock, payable on December 22, 2020 to shareholders of record at the close of business on December 14, 2020.

Bassett Announces Declaration of Special Dividend

Bassett (BSET) saw a big move last session, as its shares jumped more than 7% on the day, amid huge volumes.

Bassett (BSET) Jumps: Stock Rises 7.3%

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Bassett (BSET) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Bassett (BSET) Upgraded to Strong Buy: Here's What You Should Know

BASSETT, Va., Oct. 12, 2020 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (BSET) announced that on October 7, 2020, Emma S. Battle was elected a member of its Board of Directors. “We welcome Emma Battle to the Bassett Board of Directors,” said Rob Spilman, Chairman and CEO. “She is a successful businessperson with an extensive background in digital strategy, e-commerce marketing, and client success management. She also has been an avid leader and supporter of education in North Carolina for many years. We look forward to enjoying the benefits of her talent, wisdom and expertise.”

Bassett Announces Board Appointment

Bassett reinstated its dividend to a $0.50 annual payout, very much in line with our expectations.

Bassett: Sept. Orders +39% YoY, Reinstates $0.50 Dividend (3.3% Yield) On Strong Furniture Demand

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A Trio of Long-Term Payers Increasing Dividends

BASSETT, Va., Oct. 08, 2020 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors has declared a regular quarterly dividend of $0.125 per share of common stock, payable on November 27, 2020 to shareholders of record at the close of business on November 13, 2020.

Bassett Increases Regular Quarterly Dividend

Our short-term price target of $24.00 for this stock suggests 55% upside, while our long-term price target suggests 100% upside.

Bassett: Positive EPS Surprise, Orders Skyrocket On Strong Housing Outlook

Bassett Furniture: Strong Housing Play At 6.9x P/E And 19% FCF Yield

SILICON SLOPES, Utah--(BUSINESS WIRE)-- #bassettfurniture--Domo (Nasdaq: DOMO), provider of the Business Cloud, announced today that Bassett Furniture Industries, Inc. (Nasdaq: BSET), with more than 100 years of marketing and manufacturing furniture in the United States, has chosen Domo to help it more effectively leverage data to support data-driven business insights.

Bassett Furniture Selects Domo to Drive Customer Insights

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BASSETT, Va., July  17, 2020  (GLOBE NEWSWIRE) -- Over the past 30 months, Bassett Furniture Industries, Inc. (NASDAQ-BSET) has made a significant commitment to the vibrant outdoor furniture category.  With annual growth rates expected to be 4% to 5% compounded annually through 2023, the outdoor furniture market is estimated to be $5 billion in the United States.   “Beginning with the acquisition of Lane Venture in December 2017, we have invested in manufacturing infrastructure and industry talent to generate sales growth through this growing channel that is designed to capitalize on the migration of the U.S. population to the Sunbelt and the increasing casualization of today’s residential lifestyles and architecture,” said Rob Spilman, Chairman and CEO.  “Our platform of efficient domestic manufacturing and adjacent warehousing enables us to provide fast service on our extensive inventory of synthetic wicker, teak, and aluminum outdoor furniture collections.”

Bassett Outlines Outdoor Strategy

BASSETT, Va., July  16, 2020  (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that its Board of Directors has declared a regular quarterly dividend of $0.08 per share of common stock, representing a 36% reduction due to the uncertainties around the COVID-19 pandemic. The Board also reinstated the dividend of $0.125 per share of outstanding common stock that was previously deferred on March 31, 2020 due to economic and financial disruptions caused by the pandemic. Both dividends are payable on August 28, 2020 to shareholders of record at the close of business on August 14, 2020.

Bassett Declares Regular Quarterly Dividend and Reinstates Previously Deferred Dividend

Bassett (BSET) delivered earnings and revenue surprises of 10.34% and 69.62%, respectively, for the quarter ended May 2020. Do the numbers hold clues to what lies ahead for the stock?

Bassett Furniture (BSET) Reports Q2 Loss, Tops Revenue Estimates

Shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) fell 6.2% after the company reported Q2 results.

Recap: Bassett Furniture Q2 Earnings

Bassett Furniture: Trading At Only 35% Of Book Value And Super Compelling At Current Levels

Retail Update and Company Restructuring Activities Retail Update and Company Restructuring Activities

Bassett Furniture News Release

Manufacturing and Retail Update Manufacturing and Retail Update

Bassett Furniture  News Release

News for Bassett Furniture Stock (BSET)