Revenue and Gross Margin Increase
Consolidated sales grew by 5.9%, with a 320 basis point improvement in gross margin due to better wholesale margins.
Operational Profit Turnaround
Achieved $600,000 in consolidated operating profit, a significant improvement from a $6.4 million loss in the same period last year.
Growth in Retail and Wholesale Sales
Orders increased by 5.9% overall, with company-owned retail stores seeing a 9.8% rise. Wholesale sales to the open market grew by approximately 1%.
E-commerce and Conversion Rates
Despite a slight decline in website traffic, conversion rates increased by 18%, indicating an improvement in the website experience.
Bassett Custom Studio Expansion
Orders in the Bassett Custom Studio program grew by 35% in Q3, with shipments up 38%.