Business

Bassett Reports Fiscal First Quarter Results

BASSETT, Va., April 02, 2025 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) reported today its results of operations for its first quarter ended March 1, 2025. The first quarter for the Company’s Fiscal Year 25 had 13 weeks as compared to 14 weeks in Fiscal Year 24. Q1 Consolidated Business Highlights: [FY 25 vs. FY 24, unless otherwise specified] Revenues decreased 5.1% from the prior year quarter, which contained an additional week. Normalizing the first fiscal quarter o

articleBassett Furniture Industries, IncorporatedApril 2, 202510/company/bassett-furniture-industries/news/bassett-reports-fiscal-first-quarter-200000260
Bassett Reports Fiscal First Quarter Results

About this update from Bassett Furniture Industries, Incorporated

[{"type":"image","alt":"Bassett Furniture Industries, Incorporated","displaySize":"","headline":null,"caption":"Bassett Furniture Industries, Incorporated","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":98,"url":"https://media.zenfs.com/en/globenewswire.com/100ceca18d4bda6aab477c84bd2f361d"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/278bbDQSZW86R4weBX7UPQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTEzNztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/100ceca18d4bda6aab477c84bd2f361d","width":300,"height":98}},"lazy":false},{"type":"text","content":"BASSETT, Va., April 02, 2025 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) reported today its results of operations for its first quarter ended March 1, 2025. The first quarter for the Company’s Fiscal Year 25 had 13 weeks as compared to 14 weeks in Fiscal Year 24.","length":289,"tagName":"p"},{"type":"text","content":"Q1 Consolidated Business Highlights: [FY 25 vs. FY 24, unless otherwise specified]","length":82,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Revenues decreased 5.1% from the prior year quarter, which contained an additional week. Normalizing the first fiscal quarter of 2024 to adjust for the additional week, sales revenue for the first quarter of fiscal 2025 increased 2.2%.","length":235,"tagName":"p"}]},{"val":[{"type":"text","content":"Operating income was $2.5 million or 3.0% of sales as compared to a loss of $(2.4) million for the prior year quarter.","length":118,"tagName":"p"}]},{"val":[{"type":"text","content":"Improved wholesale margins in the quarter drove Company gross margin to 57.0%, a 170 basis point increase over the prior year.","length":126,"tagName":"p"}]},{"val":[{"type":"text","content":"Selling, general and administrative expenses came in at 54.0% of sales which was 400 basis points lower than the prior year.  This was despite a 5.1% sales decrease as the Company continues to realize the benefits from its 2024 restructuring plan.","length":252,"tagName":"p"}]},{"val":[{"type":"text","content":"Diluted earnings per share of $0.21 vs. a loss of $(0.14).","length":58,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":789,"olType":false},{"type":"text","content":"Fiscal 2025 First Quarter Overview (Dollars in millions)","length":58,"tagName":"p"},{"type":"table","heade...

More updates from Bassett Furniture Industries, Incorporated

Bassett Furniturefirst quarterBassett ChairmanThe CompanyCompanyOperating incomeadministrative expenses