Bassett Furniture Industries, Incorporated

Filed Apr 1, 2026

Accepted Apr 1, 2026, 4:23 PM ET

BSET

CIK 0000010329

View on SEC.gov Company Profile

AI Analysis

AI-generated analysis. Always verify with the original filing.

Q1 revenue declined 2.2% to $80.3M amid softer retail and wholesale demand, driving operating income down 52.9% to $1.2M despite stable gross margins of 56.2% and flat SG&A expense ratios through operational efficiencies.

Key Takeaways

1Operating income fell 52.9% to $1.2M or 1.4% of sales from $2.5M prior year, reflecting reduced sales leverage substantially offset by warehouse and delivery efficiencies holding SG&A percentage flat.

2Net income declined 39.8% to $1.1M with diluted EPS of $0.13 versus $0.21 last year, driven by lower operating results.

Operating income fell sharply to $1.2 million or 1.4% of sales from $2.5 million in Q1 FY2025. SG&A expenses as a percentage of sales remained unchanged year-over-year, excluding new store pre-opening costs. This stability resulted from improved efficiency in warehouse and delivery operations, which substantially offset the reduced leverage of fixed costs due to lower sales volumes. These operational improvements demonstrate disciplined expense management amid revenue headwinds.

Key Financial Metrics

EPS

$0.13

-38.1%

Revenue

$80.3M

-2.2%

Net Income

$1.1M

-39.8%

Gross Margin

56.2%

Gross Profit

$45.2M

-3.6%

free cash flow

-$6.3M

Operating Income

$1.2M

-52.9%

operating margin

1.4%