Bassett Furniture Inds Inc Stock Price, News & Analysis

Bassett Furniture Industries (NASDAQ:BSET) has appointed James E. Goergen to its Board of Directors, effective July 22, 2025. Goergen brings significant expertise as a former CEO and CFO with extensive experience in interior design, sourcing, and technology sectors.

Goergen's background includes over 20 years of C-Level experience in commercial and residential furniture companies, with particular focus on high-end commercial and luxury residential design firms. His expertise spans mergers and acquisitions, private equity, global sourcing, and strategic planning.

Bassett operates through 87 company- and licensee-owned stores and maintains a wholesale business serving over 1,000 open market accounts. The company generates approximately 60% of its sales through its retail network, which offers custom furniture design, in-home design visits, and decorating accessories.

Bassett Furniture Industries (Nasdaq: BSET) has declared a regular quarterly dividend of $0.20 per share of common stock. The dividend will be payable on August 29, 2025, to shareholders of record at the close of business on August 15, 2025.

The company operates 87 company- and licensee-owned stores and maintains a wholesale business serving over 700 accounts across the United States. Bassett specializes in custom-built furniture featuring latest trends, complemented by free in-home design visits and coordinated decorating accessories.

Bassett Furniture Industries (NASDAQ: BSET) reported improved Q2 2025 financial results with revenues increasing 1.1% year-over-year to $84.3 million. The company achieved an operating income of $2.5 million (3.0% of sales) compared to a loss of $(8.5) million in the prior year quarter.

Key highlights include a gross margin improvement of 310 basis points to 55.6%, reduced SG&A expenses by 330 basis points to 52.7% of sales, and diluted EPS of $0.22 versus $(0.82) loss per share in Q2 2024. The company generated $7.0 million in operating cash flow and maintained strong performance across both wholesale and retail segments despite challenging market conditions.

Bassett Furniture Industries (Nasdaq: BSET) has scheduled its second quarter 2025 earnings conference call for Thursday, July 10, 2025, at 9:00 a.m. ET. The company will release its Q2 2025 financial results after market close on Wednesday, July 9, 2025.

The conference call will be hosted by Chairman and CEO Rob Spilman and CFO Mike Daniel. Investors and the public can access the call through a webcast available on the company's investor relations website or via a direct media server link.

Bassett Furniture Industries (NASDAQ: BSET) reported its Q1 FY25 results, showing improved profitability despite lower revenues. Sales decreased 5.1% to $82.2 million compared to the 14-week Q1 FY24, but when normalized for the extra week, sales increased 2.2%.

The company achieved operating income of $2.5 million (3.0% of sales) compared to a loss of $(2.4) million in the prior year. Gross margin improved to 57.0%, up 170 basis points, driven by better wholesale margins. Selling, general and administrative expenses decreased to 54.0% of sales, 400 basis points lower than the prior year, reflecting benefits from the 2024 restructuring plan.

Diluted earnings per share reached $0.21, compared to a loss of $(0.14) in Q1 FY24. The company maintains focus on cost efficiency and product innovation to address tepid demand in the home furnishings market.

Bassett Furniture Industries (Nasdaq: BSET) has announced its upcoming first quarter 2025 earnings conference call, scheduled for Thursday, April 3, 2025, at 9:00 a.m. ET. The company will release its Q1 2025 financial results after market close on Wednesday, April 2, 2025.

The conference call will be hosted by Chairman and CEO Rob Spilman and CFO Mike Daniel. Investors and the public can access the call through two methods: via webcast on the company's investor relations website at investors.bassettfurniture.com or through the direct link https://edge.media-server.com/mmc/p/b3vchwmf. The call recording will be archived for later access on Bassett's investor site.

Bassett Furniture Industries (Nasdaq: BSET) has scheduled its first quarter conference call for Thursday, April 3, 2025, at 9:00 a.m. ET. The company will release its fourth quarter 2024 financial results after market close on Wednesday, April 2, 2025.

The conference call will be hosted by Chairman and CEO Rob Spilman and CFO Mike Daniel. Investors and the public can access the call through two methods:

• Company's investor relations website: https://investors.bassettfurniture.comassettfurniture.com
• Direct webcast link: https://edge.media-server.com/mmc/p/b3vchwmf

The conference call will be archived for later access on Bassett's investor site.

Bassett Furniture Industries (Nasdaq: BSET) has declared a regular quarterly dividend of $0.20 per share of common stock. The dividend will be paid on May 30, 2025, to shareholders of record as of May 16, 2025.

The company operates through a network of 87 company- and licensee-owned stores, leveraging its furniture brand to provide consumers with custom-built furniture featuring latest trends, free in-home design visits, and coordinated decorating accessories. Additionally, Bassett maintains a wholesale business serving over 700 accounts across the United States.

Bassett Furniture Industries (NASDAQ: BSET) reported its Q4 FY24 results with mixed performance. Revenue declined 11% year-over-year, but the company returned to profitability with operating income of $0.9 million. The quarter included a $1.0 million charge related to Noa Home Inc. wind-down and a $0.4 million restructuring charge for workforce reductions.

The company achieved a strong gross margin of 56.6%, primarily driven by improvements in the wholesale segment. The wholesale division reported operating income of $8.5 million (16.3% of sales), while retail operations generated $0.1 million (0.2% of sales). The quarter benefited from a $2.6 million tax benefit related to Noa Home Inc. investment loss, resulting in diluted earnings per share of $0.38 compared to a loss of $0.47 in the previous year. The company generated $6.4 million in operating cash flow.