Bassett Furniture Industries Reports Revenue Growth and Increased Operating Income

Bassett Furniture Industries, Inc. reported a 1.1% increase in revenues for the second quarter ended May 31, 2025. Operating income was $2.5 million, representing a significant improvement from the prior year. Gross margin also improved by 310 basis points, leading to diluted earnings per share of $0.22.

The company’s consolidated sales for the second quarter of fiscal 2025 were $84.3 million, with operating income at 3.0% of sales. Wholesale sales increased by 3.1%, while retail sales saw a 7.5% increase. The company generated $7.0 million in operating cash flow during the quarter.

Despite challenges in consumer confidence and the housing market, Bassett Furniture Industries, Inc. saw revenue and operating income improvements in the second quarter. The company’s focus on increased operating efficiency, product launches, and e-commerce capabilities positioned them well for the second half of fiscal 2025.

Bassett Furniture Industries, Inc. will hold a conference call on July 10, 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 also be available on demand.

Bassett Furniture Industries, Inc. (NASDAQ: BSET) is a leading provider of high-quality home furnishings with a wide distribution network. The company operates company- and licensee-owned stores, as well as traditional wholesale accounts. Bassett’s products are also available directly to consumers through their website. Bassett Furniture Industries, Inc. reports a net sales increase for the quarter ended May 31, 2025, totaling $84,348, compared to $83,410 in the previous year. Gross profit rose to $46,909, with an income from operations of $2,497. Net income for the period was $1,918, resulting in earnings per share of $0.22.

The company’s balance sheet as of May 31, 2025, shows total assets of $331,333, with current assets amounting to $144,193. Long-term assets, including property and equipment, total $112,052. Total liabilities stand at $164,557, with stockholders’ equity at $166,776.

Cash flows for the six months ended May 31, 2025, reveal net cash provided by operating activities of $6,903 and net cash used in investing activities of $2,349. Financing activities resulted in a net cash used of $4,672. The change in cash and cash equivalents for the period was a decrease of $118.

Segment information shows consolidated net sales of furniture and accessories at $84,348 for the quarter ended May 31, 2025. Wholesale sales to external customers reached $30,116, with retail sales totaling $54,232. Income from operations was $2,497, with a consolidated income before taxes of $2,596.

Read more at GlobeNewswire.: Bassett Reports Fiscal Second Quarter Results