Bassett Furniture Industries, Incorporated Reports Earnings Results for the Fourth Quarter Ended November 30, 2019
January 23, 2020 at 02:00 pm
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Bassett Furniture Industries, Incorporated announced earnings results for the fourth quarter ended November 30, 2019. For the fourth quarter, the company announced total revenue was USD 113.637 million compared to USD 116.647 million a year ago. Operating loss was USD 5.645 million compared to operating Income of USD 2.047 million a year ago. Net loss was USD 5.138 million compared to net income of USD 1.897 million a year ago. Basic loss per share was USD 0.51 compared to basic earnings per share of USD 0.18 a year ago. For the full year, total revenue was USD 452.087 million compared to USD 456.855 million a year ago. Operating loss was USD 595,000 compared to operating Income of USD 14.084 million a year ago. Net loss was USD 1.928 million compared to net income of USD 8.218 million a year ago. Basic loss per share was USD 0.19 compared to basic earnings per share of USD 0.77 a year ago.
Bassett Furniture Industries, Incorporated is a retailer, manufacturer and marketer of home furnishings. Its products are sold through a network of Company-owned and licensee-owned stores under the Bassett Home Furnishings (BHF) name. Its segments include Wholesale, Retail-Company-owned stores and Corporate and other. The Wholesale segment is involved in the design, manufacturing and sourcing of furniture products that are distributed through its BHF store network (both Company-owned and licensee-owned stores) and various independent retailers. The Wholesale segment includes its wood and upholstery operations, such as Lane Venture. The Retail-Company-owned stores segment consists of 56 BHF stores that provide consumers with a friendly and casual environment for buying furniture and accessories. It also has a traditional wholesale business with over 700 accounts on the open market, across the United States and internationally and a logistics business specializing in home furnishings.
BASSETT FURNITURE INDUSTRIES, INCORPORATED 
