Bassett Furniture Industries, Incorporated (BSET) reported tepid second-quarter fiscal 2024 (ended Jun 1, 2024) results, with earnings and net sales missing the Zacks Consensus Estimate and declined year over year. The company's quarterly results were mainly impacted by the challenging housing market. Consumers are choosing to spend on experiences over home investments, which affected its quarterly performance. The downtrend was reflected in soft sales contribution from the Wholesale and Retail segments alo ...

SIGNATURES BASSETT FURNITURE INDUSTRIES, INCORPORATED /s/ J. Michael Daniel J. Michael Daniel, Senior Vice President and Chief Financial Officer July 11, 2024 Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized. /s/ Robert H. Spilman, Jr. Robert H. Spilman, Jr., Chairman and Chief Executive Officer July 11, 2024 35 of 35 FORM 10-Q OR For the transition period from _____________ ...

This quarterly report represents an earnings surprise of -58.33%. A quarter ago, it was expected that this furniture seller would post earnings of $0.01 per share when it actually produced a loss of $0.14, delivering a surprise of -1,500%. Bassett, which belongs to the Zacks Furniture industry, posted revenues of $83.41 million for the quarter ended May 2024, missing the Zacks Consensus Estimate by 3.25%. This compares to year-ago revenues of $100.52 million. The company has topped consensus revenue estimat ...

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. 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 includ ...

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 marke ...

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 marke ...

Peter D. Morrison Vice President of Communications (276) 629-6450 – Media 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://edge.media-server.com/mmc/p/332ii2e5. The conference call will be archived for replay on the Company's investor site. BASSETT, Va., July 02, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) ...

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. About Bassett Furniture Industries, Inc ...

Bassett Furniture Industries, Inc. to Present at Water Tower Research's Inaugural Consumer Products Virtual Investor Conference on June 6, 2024 June 03, 2024 8:45 AM EDT | Source: Water Tower Research Bassett, Virginia--(Newsfile Corp. - June 3, 2024) - Bassett Furniture Industries, Inc. (NASDAQ: BSET), announced today that Rob Spilman, Chief Executive Officer and Chairman of the Board, will be presenting at WTR's inaugural Consumer Products Virtual Investor Conference. Mr. Spilman will be participating via ...

Bassett Furniture Industries, Incorporated (BSET) reported tepid results for first-quarter fiscal 2024 (ended Mar 2, 2024), wherein its earnings and net sales missed the Zacks Consensus Estimate and declined year over year.The company’s quarterly results were mainly impacted by the challenging sales environment, especially during the last two weeks of January 2024. This downtrend was reflected in soft sales contributions from the Wholesale and Retail segments along with Noa Home.Furthermore, reduced leverag ...