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Bassett Furniture Industries, Incorporated (BSET)
:BSET
Earnings Data
Report Date
Mar 27, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.03Last Year’s EPS
-0.14Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 29, 2025
|% Change Since: 8.07%
|Next Earnings Date:Mar 27, 2025
Earnings Call Sentiment|Neutral
Bassett Furniture showed resilience by returning to profitability and achieving significant operational improvements despite a challenging housing market and a decline in overall sales. The company's restructuring plan and focused growth initiatives, such as e-commerce expansion and new product lines, are positive indicators for future performance. However, the ongoing challenges in the housing market and natural disaster impacts present hurdles.Company Guidance
In the Bassett Furniture Q4 2024 earnings call, the company provided guidance on several key metrics and strategies for the upcoming year. Consolidated sales were down by 11%, but retail written sales decreased only slightly by 0.006%. The Black Friday promotion showed promising results with a 25.1% increase in retail written sales compared to the previous year. Wholesale orders saw a decline of 3.1%, though orders from corporate stores rose by 1.8%. The restructuring plan implemented in July 2024 led to a leaner inventory, down by over $8 million, which improved profitability. The gross margin increased by 230 basis points, contributing to a consolidated operating income of $900,000, a significant improvement from a loss of $4.5 million in Q4 2023. The company also highlighted its marketing strategies, including enhanced digital engagement leading to a 27% increase in e-commerce order values, and plans to increase direct mail campaigns. Bassett's focus for 2025 includes further warehouse consolidation, launching new product collections, and expanding the Bassett Custom Studio program, with a continued commitment to shareholder returns through dividends and share repurchases.Return to Profitability
Bassett Furniture returned to profitability in Q4 2024, after implementing a restructuring plan. Consolidated operating income was $900,000 compared to a loss of $4.5 million in Q4 2023.
Black Friday Sales Success
Retail written sales during the Black Friday promotion were up 25.1% over last year, providing a strong backlog to begin 2025.
E-commerce Growth
E-commerce revenue increased for seven consecutive months through the end of 2024, with order values up 27% annually compared to last year.
Recognition for Custom Upholstery
Bassett was named Best Custom Upholstery Company in the industry in Furniture Today's Annual Reader Survey.
Improved Gross Margins
Consolidated gross margins increased by 230 basis points, primarily due to better margins in the wholesale segment and domestic upholstery manufacturing operation.
Significant Inventory Reduction
Inventory was reduced by more than $8 million on a consolidated basis, with wholesale inventory down $6.5 million.
Exciting Growth in Outdoor Orders
Total outdoor orders grew by 33% in Q4.
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BSET Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BSET Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 29, 2025 | $14.00 | $14.42 | +3.00% |
| Oct 09, 2024 | $14.31 | $13.58 | -5.10% |
| Jul 10, 2024 | $12.73 | $13.37 | +5.03% |
| Apr 03, 2024 | $13.57 | $13.57 | 0.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Bassett Furniture Industries, Incorporated (BSET) report earnings?
Bassett Furniture Industries, Incorporated (BSET) is schdueled to report earning on Mar 27, 2025, TBA Not Confirmed.
What is Bassett Furniture Industries, Incorporated (BSET) earnings time?
Bassett Furniture Industries, Incorporated (BSET) earnings time is at Mar 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BSET EPS forecast?
BSET EPS forecast for the fiscal quarter 2025 (Q1) is 0.03.
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