Every 10-Q that Bassett Furniture Industries I (BSET) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BSET and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BSET filings page.
Bassett Furniture Industries (BSET) reported third-quarter net sales of $82.838 million for the period ended August 29, 2026, compared with $80.103 million a year earlier. Net income was $2.101 million, versus $0.801 million, and diluted earnings per share were $0.24 versus $0.09. Gross profit was $47.616 million, compared with $44.994 million; gross margin rose 130 basis points, while retail gross margin declined 90 basis points.
The company received $2.832 million in tariff refunds; $956,000 increased third-quarter gross profit, with additional benefit expected primarily in fiscal fourth quarter as related inventory is sold. Nine-month net sales were $246.931 million, versus $246.613 million, and operating cash flow was $8.013 million, compared with $5.726 million. At August 29, 2026, cash and short-term investments totaled $53.395 million and credit-facility availability was $19.134 million. Bassett reported compliance with its minimum tangible net worth requirement.
Bassett Furniture Industries reported relatively steady results for the quarter ended May 30, 2026. Net sales were $83.8 million versus $84.3 million a year ago, while net income inched up to $2.0 million from $1.9 million. Basic and diluted earnings per share held at $0.24.
For the first six months, sales were $164.1 million compared with $166.5 million, and net income was $3.2 million versus $3.8 million. Gross margin improved slightly, helped by better wholesale profitability, while retail margins were pressured by pricing timing and more aggressive clearance activity.
The company ended the quarter with $35.9 million in cash and $18.0 million in short-term investments, and no borrowings on its $25 million credit facility beyond standby letters of credit. Bassett paid $0.20 per share in regular quarterly dividends and continued modest share repurchases. It also acquired a Cherry Hill, New Jersey store from a licensee for $470 thousand and is opening new company-owned stores in Cincinnati and Orlando.
Bassett Furniture reported softer results for the quarter ended February 28, 2026. Net sales of furniture and accessories were $80.3 million, down 2.2% from $82.2 million a year earlier, as winter weather disruptions affected store operations and logistics.
Net income declined to $1.1 million from $1.9 million, and diluted earnings per share fell to $0.13 from $0.21. Consolidated gross margin slipped to 56.2% from 57.0%, reflecting lower margins in both wholesale and retail, while SG&A expenses stayed high at 54.7% of sales.
The company ended the quarter with $32.99 million in cash and $17.96 million in short-term investments, plus an undrawn revolving credit facility with $19.13 million of availability. Operating activities used $5.5 million of cash, largely due to working capital, but Bassett continued its $0.20 quarterly dividend and modest share repurchases.
Bassett Furniture Industries, Inc. filed unaudited condensed consolidated financial statement notes for the quarter ended August 30, 2025. The company had $8,182 outstanding under standby letters of credit on its $25,000 credit line, which bears interest at One-Month Term SOFR plus 1.75% and charges a quarterly unused-fee of 0.25%. The Credit Facility requires Consolidated Minimum Tangible Net Worth of at least $120,000 and contains additional quarterly financial covenants that begin to apply when used commitments reach $8,250. The company records long‑term care (LTC) awards as a defined benefit obligation; the LTC liability was $1,421 at August 30, 2025 versus $1,360 at November 30, 2024. A few other line-item amounts are shown (for example $5,588 and $5,557, and $2,537 and $2,928), but their captions/contexts are not fully clear in the extracted text.
Bassett Furniture Industries (NASDAQ: BSET) returned to profitability in Q2 FY25 (quarter ended 31 May 2025) after a difficult prior-year period. Net sales inched up 1.1% to $84.3 million, driven by a 7.5% increase in company-owned retail sales that offset a 5.5% decline in external wholesale revenue. Gross profit rose 7.2% to $46.9 million, lifting gross margin to 55.6% from 52.5%, helped by the absence of the $2.7 million inventory valuation charges recorded last year.
Operating expense discipline continues to yield results. SG&A fell $2.3 million (-4.9%) to $44.4 million and improved 330 bp as a percentage of sales (52.7% vs. 56.0%). Without the prior-year $5.5 million asset impairment, operating income swung to a $2.5 million profit versus an $8.5 million loss. Net income reached $1.9 million ($0.22 per diluted share) compared with a $7.2 million loss (-$0.82/sh) a year earlier.
Six-month performance also improved materially despite a 2.0% revenue decline (26 weeks in FY25 vs. 27 weeks in FY24). Operating income was $5.0 million versus a $10.8 million loss, and net income was $3.8 million ($0.43/sh) versus a $8.4 million loss (-$0.96/sh).
Segment detail
- Wholesale: Q2 sales to external customers slipped 5.5% to $30.1 million, but operating income rose 46% to $8.3 million on better mix and cost control.
- Retail: Company-owned store revenue climbed 7.5% to $54.2 million; the segment generated a modest $0.5 million profit versus a $2.2 million loss last year.
Liquidity & balance sheet
- Cash and equivalents: $39.4 million (virtually flat since year-end).
- Short-term investments (CDs): $20.4 million.
- No funded debt; $25 million credit facility with only $8.2 million in standby letters of credit outstanding, leaving $16.8 million available.
- Operating cash flow turned positive at $6.9 million versus a $1.9 million outflow last year; capex was $2.3 million.
- Inventory increased 8.0% to $59.4 million, reflecting higher raw materials and finished goods.
Capital return – Quarterly dividend raised to $0.20 per share (up from $0.18); YTD dividends paid total $3.5 million. Share repurchases of $1.2 million retired 87,384 shares YTD.
Outlook factors disclosed by management include continued cost focus, warehouse consolidation, and typical industry risks such as raw-material inflation, consumer demand variability, and supply-chain disruptions.