From GlobeNewswire: 2025-04-02 16:00:00

Bassett Furniture Industries, Inc. reported a 5.1% decrease in revenues for the first quarter of Fiscal Year 25 compared to the prior year quarter. Despite the sales decrease, the company saw an increase in sales revenue of 2.2% after normalizing for the additional week in the prior year quarter. Operating income was $2.5 million, a significant improvement over the prior year’s loss of $(2.4) million.

The company’s first quarter of Fiscal Year 25 saw consolidated sales of $82.2 million, a 5.1% decrease from the prior year. Operating income was $2.5 million, or 3.0% of sales, compared to a loss of $(2.4) million in the prior year. Wholesale sales decreased by 3.3%, while retail sales saw a slight decrease of 0.9%.

Bassett Furniture Industries, Inc. reported diluted earnings per share of $0.21 for the first quarter of Fiscal Year 25, a significant improvement over the prior year’s loss of $(0.14) per share. The company attributed its success to margin improvements, cost reduction efforts, and a focus on product innovation to drive higher sales.

Bassett Furniture Industries, Inc. will hold a conference call on April 3, 2025, at 9:00 am ET to discuss its quarterly results. The public can listen to the call via webcast on the company’s investor relations website. A replay and transcript of the call will be available on demand on the investor relations site.

Bassett Furniture Industries, Inc. (NASDAQ: BSET) is a leading provider of high-quality home furnishings with a wide distribution network. The company operates 87 company- and licensee-owned stores, as well as a significant wholesale business with over 1,000 open market accounts. Bassett products are available through various channels, including retail stores, custom design studios, and online. Bassett Furniture Industries, Inc. and Subsidiaries reported their financial results for the first quarter, ending March 1, 2025. The company’s total assets amounted to $335,786, with current assets totaling $142,840 and long-term assets at $117,538. Total liabilities and stockholders’ equity were $335,786. (50 words)

In the same period, Bassett Furniture Industries, Inc. and Subsidiaries reported a net income of $1,854, an improvement from the previous year’s net loss of $(1,193). Operating activities generated a net cash outflow of $52, with investing activities showing a net cash outflow of $882 and financing activities with a net cash outflow of $2,555. (50 words)

The company’s segment information showed consolidated net sales of furniture and accessories at $82,162 for the quarter, with wholesale sales to external customers at $28,868 and retail sales at $53,294. Income before income taxes was reported at $2,555, an improvement from the previous year’s loss of $(1,705). (50 words)



Read more at GlobeNewswire:: Bassett Reports Fiscal First Quarter Results