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bassettfurniture.com

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About Bassett Furniture Industries

Bassett Furniture Industries (Nasdaq:BSET), is a manufacturer and marketer of high quality, mid-priced home furnishings. With 94 company- and licensee-owned stores at the time of this release, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. Bassett's retail strategy includes affordable custom-built furniture that is ready for delivery in the home within 30 days. The stores also feature the latest on-trend furniture styles, more than 1,000 upholstery fabrics, free in-home design visits, and coordinated decorating accessories.

Bassett Furniture Industries Headquarter Location

P.O. Box 626

Bassett, Virginia, 24055,

United States

877-525-7070

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Latest Bassett Furniture Industries News

Bassett (BSET) to Post Q4 Earnings: What's in the Offing?

Jan 17, 2022

Bassett Furniture Industries' (BSET) fiscal fourth-quarter earnings are likely to have been hurt by supply-related issues and intense inflation. This story originally appeared on Zacks Bassett Furniture Industries, Incorporated’s BSET fourth-quarter fiscal 2021 earnings and revenues are expected to have decreased on a year-over-year basis, thanks to raw material shortages, escalating labor and commodity costs, severely compromised logistic capabilities, and increasing COVID-19 OMICRON variant threat. In the last reported quarter, the company’s earnings were in line with the Zacks Consensus Estimate but increased 40.9% from the year-ago quarter. Net sales topped the consensus mark by 5.7% and increased 29.9% from the prior-year level. Its earnings surpassed the consensus mark in each of the trailing six quarters. - Zacks Trend in Estimate Revision The Zacks Consensus Estimate for Bassett’s fiscal fourth-quarter earnings has declined 6.3% to 45 cents per share over the past 30 days. The estimated figure indicates a 30.8% decline from the year-ago earnings of 65 cents per share. The consensus mark for revenues is $115.43 million, suggesting 2.5% year-over-year fall. Bassett Furniture Industries, Incorporated Price and EPS Surprise Factors to Note Bassett’s business is expected to have witnessed lackluster sales performance in fourth-quarter fiscal 2021 owing to existing supply-related issues, inflationary pressure and risk of the new COVID-19 variant. Although the company introduced four regular price increases during the fiscal year to avoid the increased cost of raw materials and freight, supplier-related price escalation is putting pressure on the bottom line. Nonetheless, BSET has been investing in upgrades to the plant and equipment in its manufacturing footprint to provide a better work environment for the associates and improve efficiency. The company has been formulating a new warehousing and logistics architecture that will help improve services. Also, its digital transformation program and in-store retail experience have been encouraging. The Zacks Consensus Estimate for Furniture and accessories sales (accounting for 88.2% of total third-quarter fiscal 2021 revenues) is pegged at $109 million, indicating an increase of 3.8% from $105 million in the year-ago period. The consensus estimate for sales from Logistical services (11.8%) is pegged at $13.69 million, indicating 5.4% growth from the prior-year quarter. What Our Quantitative Model Predicts Our proven model does not conclusively predict an earnings beat for Bassett this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is -21.35%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter . Zacks Rank: Leggett currently carries a Zacks Rank #4 (Sell). Stocks With Favorable Combination Here are some companies, which according to our model have the right combination of elements to post an earnings beat in their respective quarters to be reported. Boise Cascade Company BCC has an Earnings ESP of +3.21% and a Zacks Rank #2. Shares of Boise Cascade have gained 44.5% over the past year. BCC’s earnings topped the consensus mark in all the last four quarters, with the average being 45.5%. United Rentals, Inc. URI has an Earnings ESP of +1.34% and a Zacks Rank #2. Shares of United Rentals have gained 28.5% over the past year. URI’s earnings topped the consensus mark twice but missed the same on the other two occasions, with the average surprise being 5.7%. Vulcan Materials Company VMC has an Earnings ESP of +6.01% and a Zacks Rank #2. Shares of Vulcan Materials have gained 19.4% over the past year. VMC’s earnings topped the consensus mark twice but missed the same on the other two occasions, with the average surprise being 15.9%. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar . Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.

Bassett Furniture Industries Acquisitions

1 Acquisition

Bassett Furniture Industries acquired 1 company. Their latest acquisition was Zenith Freight Lines on January 21, 2015.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

1/21/2015

$99M

Acquired

1

Date

1/21/2015

Investment Stage

Companies

Valuation

$99M

Total Funding

Note

Acquired

Sources

1

Bassett Furniture Industries Team

1 Team Member

Bassett Furniture Industries has 1 team member, including former Executive Vice President, Tom Swanston.

Name

Work History

Title

Status

Tom Swanston

Executive Vice President

Former

Name

Tom Swanston

Work History

Title

Executive Vice President

Status

Former

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