Bassett Says Cybersecurity Incident Has Had And Is Reasonably Likely To Continue To Have Material Impact On Its Business Operations Until Recovery Efforts Are Completed

7/15/24 5:11:18 PM ET

Home Furnishings

Consumer Discretionary

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Date	Price Target	Rating	Analyst
9/7/2023		Outperform → Market Perform	Noble Capital Markets

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Bassett Announces Additional Cost Structure Reductions and Updates Progress on Restructuring Plan
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
11/20/24 9:00:00 AM ET
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Home Furnishings
Consumer Discretionary
Bassett Reports Fiscal Third Quarter Results, Updates Progress on Restructuring Plan and Announces Regular Quarterly Dividend
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
10/9/24 5:27:12 PM ET
$BSET
Home Furnishings
Consumer Discretionary
Bassett Announces Third Quarter Conference Call
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
9/25/24 1:35:22 PM ET
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Bassett Says Cybersecurity Incident Has Had And Is Reasonably Likely To Continue To Have Material Impact On Its Business Operations Until Recovery Efforts Are Completed
7/15/24 5:11:18 PM ET
$BSET
Home Furnishings
Consumer Discretionary
Bassett Furniture Industries Says On July 10, 2024, It Detected Unauthorized Occurrences On Portion Of Its IT Systems - Filing
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
7/15/24 5:09:51 PM ET
$BSET
Home Furnishings
Consumer Discretionary
Bassett Furniture Integrates Domo Throughout Its Operations, From Corporate Headquarters To Retail Stores And Its Distribution Team
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.
7/10/24 4:07:54 PM ET
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Home Furnishings
Consumer Discretionary
Computer Software: Prepackaged Software
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Bassett Reports Fiscal Third Quarter Results, Updates Progress on Restructuring Plan and Announces Regular Quarterly Dividend
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
10/9/24 5:27:12 PM ET
$BSET
Home Furnishings
Consumer Discretionary
Bassett Announces Third Quarter Conference Call
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
9/25/24 1:35:22 PM ET
$BSET
Home Furnishings
Consumer Discretionary
Bassett Reports Fiscal Second Quarter Results and Launches Restructuring Plan
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.
7/10/24 4:01:00 PM ET
$BSET
Home Furnishings
Consumer Discretionary

Bassett Says Cybersecurity Incident Has Had And Is Reasonably Likely To Continue To Have Material Impact On Its Business Operations Until Recovery Efforts Are Completed

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Bassett Announces Additional Cost Structure Reductions and Updates Progress on Restructuring Plan

Bassett Reports Fiscal Third Quarter Results, Updates Progress on Restructuring Plan and Announces Regular Quarterly Dividend

Bassett Announces Third Quarter Conference Call

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Bassett Furniture downgraded by Noble Capital Markets

Noble Financial initiated coverage on Bassett Furniture Industries with a new price target

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Amendment: SEC Form SC 13D/A filed by Bassett Furniture Industries Incorporated

Amendment: SEC Form SC 13D/A filed by Bassett Furniture Industries Incorporated

SEC Form SC 13D filed by Bassett Furniture Industries Incorporated

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Bassett Says Cybersecurity Incident Has Had And Is Reasonably Likely To Continue To Have Material Impact On Its Business Operations Until Recovery Efforts Are Completed

Bassett Furniture Industries Says On July 10, 2024, It Detected Unauthorized Occurrences On Portion Of Its IT Systems - Filing

Bassett Furniture Integrates Domo Throughout Its Operations, From Corporate Headquarters To Retail Stores And Its Distribution Team

$BSET SEC Filings

Bassett Furniture Industries Incorporated filed SEC Form 8-K: Other Events, Financial Statements and Exhibits

SEC Form 10-Q filed by Bassett Furniture Industries Incorporated

Bassett Furniture Industries Incorporated filed SEC Form 8-K: Other Events, Financial Statements and Exhibits

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Chairman & CEO Spilman Robert H Jr bought $21,656 worth of shares (1,700 units at $12.74), increasing direct ownership by 0.65% to 263,000 units (SEC Form 4)

Director Belk John R bought $48,857 worth of shares (3,847 units at $12.70), increasing direct ownership by 10% to 41,047 units (SEC Form 4)

SVP, Chief Fin./Admin. Officer Daniel John Michael bought $6,425 worth of shares (500 units at $12.85), increasing direct ownership by 0.94% to 53,423 units (SEC Form 4)

Bassett Reports Fiscal Third Quarter Results, Updates Progress on Restructuring Plan and Announces Regular Quarterly Dividend

Bassett Announces Third Quarter Conference Call

Bassett Reports Fiscal Second Quarter Results and Launches Restructuring Plan

$BSET Insider Trading

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Chairman & CEO Spilman Robert H Jr bought $21,656 worth of shares (1,700 units at $12.74), increasing direct ownership by 0.65% to 263,000 units (SEC Form 4)

Director Belk John R bought $48,857 worth of shares (3,847 units at $12.70), increasing direct ownership by 10% to 41,047 units (SEC Form 4)

SVP, Chief Fin./Admin. Officer Daniel John Michael bought $6,425 worth of shares (500 units at $12.85), increasing direct ownership by 0.94% to 53,423 units (SEC Form 4)

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Munchkin, Inc. Announces Appointment of Kristina Cashman and Alan Wizemann to Board of Directors

Bassett Regular Quarterly Dividend

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