BSET Stock Recent News

BELLEVUE, Wash.--(BUSINESS WIRE)--Seldens, a family-owned home furnishings and design consultation business serving the Pacific Northwest for over 80 years, announced its latest expansion with the opening of a new Bassett® showroom in Bellevue, Washington. This expansion solidifies the Seldens presence in the area, following the successful opening of the Tacoma Bassett showroom, and joining the three Seldens locations in Bellevue, Olympia and Tacoma, and two Summer House outdoor furniture showr.

BSET, BEN and HTCMY have been added to the Zacks Rank #5 (Strong Sell) List on December 3, 2024.

BSET has reduced its workforce to streamline operations and generate significant cost savings as part of the company's ongoing restructuring efforts.

CVI, BSET and BAMXF have been added to the Zacks Rank #5 (Strong Sell) List on October 29, 2024.

AMTB, CAR and BSET have been added to the Zacks Rank #24 (Strong Sell) List on October 15, 2024.

Bassett Furniture reported weak Q3 results due to a cybersecurity incident and persisting weak industry conditions, but I believe that the factors behind the earnings make the weak Q3 understandable. The company is undergoing a restructuring plan to improve earnings by $5.5-6.5 million and looks to cut production and streamline operations by the end of Q4. The BSET stock comes with a good margin of safety in terms of the valuation, but with a still uncertain industry outlook and Bassett's uncertain earnings power, I remain neutral.

Bassett Furniture Industries, Incorporated (NASDAQ:BSET ) Q3 2024 Earnings Conference Call October 10, 2024 9:00 AM ET Company Participants Mike Daniel - Chief Financial Officer Rob Spilman - Chairman and Chief Executive Officer Conference Call Participants Anthony Lebiedzinski - Sidoti & Company Brian Gordon - Water Tower Research Operator Good day and thank you for standing by. Welcome to Bassett Furniture Industries Q3 2024 Earnings Conference Call.

Bassett Furniture (BSET) came out with a quarterly loss of $0.52 per share versus the Zacks Consensus Estimate of a loss of $0.34. This compares to loss of $0.30 per share a year ago.

BASSETT, Va., Oct. 09, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) reported today its results of operations for its third quarter ended August 31, 2024. In addition, the Company's Board of Directors declared a regular quarterly dividend of $0.20 per share of common stock, payable on Nov. 29, 2024, to shareholders of record at the close of business on Nov. 15, 2024. This dividend represents an 11% increase over the prior year's quarterly dividend.

Bassett's third-quarter fiscal 2024 results are likely to showcase a declining demand trend amid market uncertainties and the closure of manufacturing plants.