Bassett Furniture Industries, Incorporated engages in the manufacture, marketing, and retail of home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Âcompany-owned Stores, and Logistical Services. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned retail stores and licensee-owned stores, and independent furniture retailers; and wood and upholstery operations. As of November 28, 2020, it operated a network of 63 company-owned stores and 34 licensee-owned stores. It also provides shipping, and warehousing services to customers in the furniture industry. In addition, the company owns and leases retail store properties; and distributes its products through other multi-line furniture stores, Bassett galleries or design centers, mass merchants, and specialty stores, as well as sells its products online. Bassett Furniture Industries, Incorporated was founded in 1902 and is based in Bassett, Virginia.
IPO Year:
Exchange: NASDAQ
Website: bassettfurniture.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/7/2023 | Outperform → Market Perform | Noble Capital Markets |
Noble Capital Markets downgraded Bassett Furniture from Outperform to Market Perform
Noble Financial initiated coverage of Bassett Furniture Industries with a rating of Outperform and set a new price target of $25.00
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Upon detecting the unauthorized occurrences, the Company immediately began taking steps to contain, assess and remediate the incident, including beginning an investigation, activating its incident response plan, and shutting down some systems. The threat actor disrupted the Company’s business operations by encrypting some data files. As a result of the Company’s containment measures, which included shutting down some systems, the Company has not been, and, as of the date of this report is not operating its manufacturing facilities. The Company’s retail stores and e-commerce platform are open, and customers are able to place orders and purchase available merchandise; however, the Company’s
Storied home furnishings company taps Domo's AI and data platform to uncover new trends and insights, modernize its operations and meet the changing needs of today's customersToday, Domo (NASDAQ:DOMO) announced that Bassett Furniture Industries, Inc. (NASDAQ:BSET) integrates Domo throughout its operations – from corporate headquarters to retail stores and its distribution team – to power data-driven decisions. Bassett Furniture started working with Domo in 2020 and now uses real-time data to engage retailers, select the right merchandise for a specific region, reduce unnecessary inventory and maximize retail space.
Bassett Furniture Indus (NASDAQ:BSET) reported quarterly losses of $(0.82) per share which missed the analyst consensus estimate of $(0.11) by 645.45 percent. This is a 441.67 percent decrease over earnings of $0.24 per share from the same period last year. The company reported quarterly sales of $83.41 million which missed the analyst consensus estimate of $86.99 million by 4.12 percent. This is a 17.02 percent decrease over sales of $100.52 million the same period last year.
Although U.S. stocks closed higher on Friday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform. Eagle Bulk Shipping The Trade: Eagle Bulk Shipping Inc. (NYSE:EGLE) 10% owner Castor Maritime Inc. acquired a total of 169,635
Bassett Furniture Indus (NASDAQ:BSET) reported quarterly losses of $(0.14) per share which missed the analyst consensus estimate of $0.01 by 1500 percent. The company reported quarterly sales of $86.554 million which missed the analyst consensus estimate of $90.890 million by 4.77 percent. This is a 19.63 percent decrease over sales of $107.698 million the same period last year.
Bassett Furniture Indus (NASDAQ:BSET) reported quarterly losses of $(0.47) per share which missed the analyst consensus estimate of $(0.05) by 840 percent. This is a 177.05 percent decrease over earnings of $0.61 per share from the same period last year. The company reported quarterly sales of $94.70 million which beat the analyst consensus estimate of $90.81 million by 4.28 percent. This is a 21.75 percent decrease over sales of $121.02 million the same period last year.
Bassett Furniture Industries Inc (NASDAQ:BSET) reported a third-quarter FY23 sales decline of 26% year-on-year to $87.22 million, beating the analyst consensus estimate of $86.95 million. Sales from Wholesale fell 28%% Y/Y, and Retail decreased by 26%. Gross margin expanded 10 basis points to 51.6%. Selling, general and administrative expenses dropped 10.6% Y/Y to $48.8 million. The operating loss for the quarter totaled $(3.8) million compared to an operating income of $10.6 million. EPS of $(0.30) beat the consensus of $(0.58). Bassett Furniture held $65.8 million in cash and equivalents as of August 26, 2023. Operating cash flow for nine months totaled $10.2 million. "We first began
Bassett Furniture Indus (NASDAQ:BSET) reported quarterly losses of $(0.30) per share which beat the analyst consensus estimate of $(0.58) by 48.28 percent. This is a 135.71 percent decrease over earnings of $0.84 per share from the same period last year. The company reported quarterly sales of $87.22 million which beat the analyst consensus estimate of $86.95 million by 0.31 percent. This is a 26.09 percent decrease over sales of $118.01 million the same period last year.
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New board member appointments poise Munchkin for financial growth across digital platforms. LOS ANGELES, March 22, 2022 /PRNewswire/ -- Munchkin, Inc. today announced the appointment of two new board members, Kristina Cashman and Alan Wizemann, bringing the total number of Munchkin board directors to five. Cashman and Wizemann fill key consultancy roles on Munchkin's board in the fields of finance and e-commerce, respectively. Their appointments and decades of expert knowledge will bolster the board's focus on the sustained, long-term growth of Munchkin with an emphasis on di
BASSETT, Va., Jan. 14, 2021 (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 February 26, 2021 to shareholders of record at the close of business on February 12, 2021. About Bassett Furniture Industries, Inc.Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality home furnishings. With 97 company- and licensee-owned stores at the time of this release, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers
BASSETT, Va., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) announced today certain work force reductions designed to both streamline operations and better match the Company's cost structure to the current rate of business. Through a combination of layoffs and retirements throughout the organization, this workforce reduction will result in approximately $2.5 million in annual savings. Including this action, Bassett has reduced its headcount by 11% over the past year. The Company expects to record an associated $500,000 severance charge in the current quarter. The Company further announced that it continues executing on its five-point restructuring plan
BASSETT, Va., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) reported today its results of operations for its third quarter ended August 31, 2024. In addition, the Company's Board of Directors declared a regular quarterly dividend of $0.20 per share of common stock, payable on Nov. 29, 2024, to shareholders of record at the close of business on Nov. 15, 2024. This dividend represents an 11% increase over the prior year's quarterly dividend. Q3 Consolidated Business Highlights: [FY 24 vs. FY 23, unless otherwise specified] Revenues decreased 13%, impacted by a cyber incident that suspended all financial systems and manufacturing for 7 days.Operating
BASSETT, Va., Sept. 25, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) announced today it will host a conference call with management on Thursday, October 10, 2024, at 9:00 a.m. ET to discuss its third quarter 2024 financial results. The Company will issue its earnings release after the market closes on Wednesday, October 9, 2024. Chairman and Chief Executive Officer Rob Spilman will host the call, along with Chief Financial Officer Mike Daniel. The public is invited to listen to the conference call by webcast, accessible through the Company's investor relations website, https://investors.bassettfurniture.com, or they can listen to the conference call via http
Storied home furnishings company taps Domo's AI and data platform to uncover new trends and insights, modernize its operations and meet the changing needs of today's customers Today, Domo (NASDAQ:DOMO) announced that Bassett Furniture Industries, Inc. (NASDAQ:BSET) integrates Domo throughout its operations – from corporate headquarters to retail stores and its distribution team – to power data-driven decisions. Bassett Furniture started working with Domo in 2020 and now uses real-time data to engage retailers, select the right merchandise for a specific region, reduce unnecessary inventory and maximize retail space. Since 1902, Bassett Furniture has been a leading manufacturer of high-q
BASSETT, Va., July 10, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) reported today its results of operations for its second quarter ended June 1, 2024. The Company also announced a restructuring plan designed to improve long-term operational and financial performance. Q2 Consolidated Business Highlights: [FY 24 vs. FY 23, unless otherwise specified] Revenues decreased 17%.When comparing to the first quarter of 2024, revenues increased 3.8%, normalizing the first quarter for the extra week due to our fiscal calendar.Operating loss of $8.5 million which included asset impairment charges of $5.5 million and additional inventory valuation charges of $2.7 million.
BASSETT, Va., July 09, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) announced today that its Board of Directors has declared a regular quarterly dividend of $0.20 per share of common stock, payable on August 30, 2024, to shareholders of record at the close of business on August 16, 2024 which represents an 11% increase over the prior quarterly dividend. About Bassett Furniture Industries, Inc. Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality home furnishings. With 88 company- and licensee-owned stores at the time of this release, Bassett has leveraged its strong brand name in furniture into a network of
BASSETT, Va., July 02, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) today announced it will host a conference call with management on Thursday, July 11, 2024, at 9:00 a.m. ET to discuss its second quarter 2024 financial results. The Company will issue its earnings release after the market closes on Wednesday, July 10, 2024. Chairman and Chief Executive Officer Rob Spilman will host the call, along with Chief Financial Officer Mike Daniel. The public is invited to listen to the conference call by webcast, accessible through the Company's investor relations website, https://investors.bassettfurniture.com, or they can listen to the conference call via https://edg
NEW YORK, NY / ACCESSWIRE / May 7, 2024 / Sidoti Events, LLC, an affiliate of Sidoti & Company, LLC, has released the presentation schedule and weblinks for its two-day May Micro-Cap Conference taking place Wednesday and Thursday, May 8-9, 2024. The presentation schedule is subject to change. Please visit www.sidoti.com/events for the most updated version and webinar links. Presentation Schedule*All Times ESTWednesday, May 8, 2024 (Day 1)8:30-9:00Perfect Corp (PERF)*****Evaxion (EVAX)9:15-9:45CPS Technologies Corp. (CPSH)*****Talisker Resources Ltd. (TSKFF)10:00-10:30Genius Group (GNS)L.B. Foster (FSTR)Alico Inc. (ALCO)10:45-11:15AstroNova, Inc. (ALOT)*****Athira Pharma (ATHA)11:30-12:0
BASSETT, Va., April 03, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) announced today its results of operations for its first quarter ended March 2, 2024. Fiscal 2024 First Quarter Highlights (Dollars in millions) Sales Operating Income (Loss) 1st Qtr Dollar% 1st Qtr% of 1st Qtr% of 2024 2023 ChangeChange 2024 Sales 2023 SalesConsolidated (1) $86.6 $107.7 $(21.1)-19.6% $(2.4)-2.8% $2.7 2.5% Wholesale $54.7 $69.9 $(15.2)-21.7% $6.8 12.4% $9.0 12.9% Retail $53.8 $65.0 $(11.2)-17.2% $(1.6)-3.0% $1.5 2.3% Corporate & Other (2) $1.9 $3.0 $(1.1)-36.7% $(7.6)N/A $(7.8)N/A (1) Our consolidated results include certain
BASSETT, Va., March 07, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) announced today that its Board of Directors has declared a regular quarterly dividend of $0.18 per share of common stock, payable on May 31, 2024, to shareholders of record at the close of business on May 17, 2024. About Bassett Furniture Industries, Inc.Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality home furnishings. With 89 company- and licensee-owned stores at the time of this release, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a fri
BASSETT, Va., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) reported today its results of operations for its third quarter ended August 31, 2024. In addition, the Company's Board of Directors declared a regular quarterly dividend of $0.20 per share of common stock, payable on Nov. 29, 2024, to shareholders of record at the close of business on Nov. 15, 2024. This dividend represents an 11% increase over the prior year's quarterly dividend. Q3 Consolidated Business Highlights: [FY 24 vs. FY 23, unless otherwise specified] Revenues decreased 13%, impacted by a cyber incident that suspended all financial systems and manufacturing for 7 days.Operating
BASSETT, Va., Sept. 25, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) announced today it will host a conference call with management on Thursday, October 10, 2024, at 9:00 a.m. ET to discuss its third quarter 2024 financial results. The Company will issue its earnings release after the market closes on Wednesday, October 9, 2024. Chairman and Chief Executive Officer Rob Spilman will host the call, along with Chief Financial Officer Mike Daniel. The public is invited to listen to the conference call by webcast, accessible through the Company's investor relations website, https://investors.bassettfurniture.com, or they can listen to the conference call via http
BASSETT, Va., July 10, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) reported today its results of operations for its second quarter ended June 1, 2024. The Company also announced a restructuring plan designed to improve long-term operational and financial performance. Q2 Consolidated Business Highlights: [FY 24 vs. FY 23, unless otherwise specified] Revenues decreased 17%.When comparing to the first quarter of 2024, revenues increased 3.8%, normalizing the first quarter for the extra week due to our fiscal calendar.Operating loss of $8.5 million which included asset impairment charges of $5.5 million and additional inventory valuation charges of $2.7 million.
BASSETT, Va., July 09, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) announced today that its Board of Directors has declared a regular quarterly dividend of $0.20 per share of common stock, payable on August 30, 2024, to shareholders of record at the close of business on August 16, 2024 which represents an 11% increase over the prior quarterly dividend. About Bassett Furniture Industries, Inc. Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality home furnishings. With 88 company- and licensee-owned stores at the time of this release, Bassett has leveraged its strong brand name in furniture into a network of
BASSETT, Va., July 02, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) today announced it will host a conference call with management on Thursday, July 11, 2024, at 9:00 a.m. ET to discuss its second quarter 2024 financial results. The Company will issue its earnings release after the market closes on Wednesday, July 10, 2024. Chairman and Chief Executive Officer Rob Spilman will host the call, along with Chief Financial Officer Mike Daniel. The public is invited to listen to the conference call by webcast, accessible through the Company's investor relations website, https://investors.bassettfurniture.com, or they can listen to the conference call via https://edg
BASSETT, Va., April 03, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) announced today its results of operations for its first quarter ended March 2, 2024. Fiscal 2024 First Quarter Highlights (Dollars in millions) Sales Operating Income (Loss) 1st Qtr Dollar% 1st Qtr% of 1st Qtr% of 2024 2023 ChangeChange 2024 Sales 2023 SalesConsolidated (1) $86.6 $107.7 $(21.1)-19.6% $(2.4)-2.8% $2.7 2.5% Wholesale $54.7 $69.9 $(15.2)-21.7% $6.8 12.4% $9.0 12.9% Retail $53.8 $65.0 $(11.2)-17.2% $(1.6)-3.0% $1.5 2.3% Corporate & Other (2) $1.9 $3.0 $(1.1)-36.7% $(7.6)N/A $(7.8)N/A (1) Our consolidated results include certain
BASSETT, Va., March 07, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) announced today that its Board of Directors has declared a regular quarterly dividend of $0.18 per share of common stock, payable on May 31, 2024, to shareholders of record at the close of business on May 17, 2024. About Bassett Furniture Industries, Inc.Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality home furnishings. With 89 company- and licensee-owned stores at the time of this release, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a fri
BASSETT, Va., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) announced today its results of operations for its fourth quarter ended November 25, 2023. Fiscal 2023 Fourth Quarter Highlights (Dollars in millions) Sales Operating Income (Loss) 4th Qtr Dollar% 4th Qtr% of 4th Qtr% of 2023 2022 ChangeChange 2023 Sales 2022 SalesConsolidated (1)$94.7$121.0 $(26.3)-21.7% $(4.5)-4.8% $6.7 5.5% Wholesale$60.6$74.6 $(14.0)-18.8% $8.4 13.9% $10.3 13.8% Retail$57.9$74.5 $(16.6)-22.3% $0.2 0.3% $5.5 7.4% Corporate & Other (2)$1.8$2.0 $(0.2)-10.0% $(7.8)N/A $(9.4)N/A (1) Our consolidated results include certain in
BASSETT, Va., Jan. 11, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) announced today that its Board of Directors has declared a regular quarterly dividend of $0.18 per share of common stock, payable on March 1, 2024, to shareholders of record at the close of business on February 16, 2024. About Bassett Furniture Industries, Inc.Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality home furnishings. With 87 company- and licensee-owned stores at the time of this release, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with
BASSETT, Va., Oct. 05, 2023 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (NASDAQ:BSET) announced today that its Board of Directors has declared a regular quarterly dividend of $0.18 per share of common stock, payable on November 24, 2023, to shareholders of record at the close of business on November 10, 2023. About Bassett Furniture Industries, Inc.Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality home furnishings. With 89 company- and licensee-owned stores at the time of this release, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers