Bassett Furniture Industries, Incorporated Reports Earnings Results for the Fourth Quarter Ended November 28, 2020
January 21, 2021 at 07:30 pm IST
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Bassett Furniture Industries, Incorporated announced earnings results for the fourth quarter ended November 28, 2020. For the fourth quarter, the company announced total revenue was USD 118.383 million compared to USD 113.637 million a year ago. Operating income was USD 10.049 million compared to operating loss of USD 5.645 million a year ago. Net income was USD 6.543 million compared to net loss of USD 5.138 million a year ago. Basic earnings per share from continuing operations was USD 0.65 compared to basic loss per share from continuing operations of USD 0.51 a year ago. For the full year, total revenue was USD 385.863 million compared to USD 452.087 million a year ago. Operating loss was USD 16.223 million compared to USD 595,000 a year ago. Net loss was USD 10.421 million compared to USD 1.928 million a year ago. Basic loss per share from continuing operations was USD 1.05 compared to USD 0.19 a year ago.
Bassett Furniture Industries, Incorporated is a retailer, manufacturer and marketer of home furnishings. Its products are sold through a network of Company-owned and licensee-owned stores under the Bassett Home Furnishings (BHF) name. Its segments include Wholesale, Retail-Company-owned stores and Corporate and other. The Wholesale segment is involved in the design, manufacturing and sourcing of furniture products that are distributed through its BHF store network (both Company-owned and licensee-owned stores) and various independent retailers. The Wholesale segment includes its wood and upholstery operations, such as Lane Venture. The Retail-Company-owned stores segment consists of 56 BHF stores that provide consumers with a friendly and casual environment for buying furniture and accessories. It also has a traditional wholesale business with over 700 accounts on the open market, across the United States and internationally and a logistics business specializing in home furnishings.
BASSETT FURNITURE INDUSTRIES, INCORPORATED 
