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. 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 ...