Latest news with #BassettFurniture
Yahoo
18-07-2025
- Business
- Yahoo
Zacks.com featured highlights include Mama's Creations, Bassett Furniture Industries and Amarin
For Immediate Release Chicago, IL – July 18, 2025 – Stocks in this week's article are Mama's Creations, Inc. MAMA, Bassett Furniture Industries, Inc. BSET and Amarin Corp. plc AMRN. 3 Strong Buy Breakout Stocks for Explosive Returns An active investing approach involves seeking breakout stocks within a specific price range. Sell if the price falls below the lower band and hold for gains if it exceeds the upper band. To that end, Mama's Creations, Inc., Bassett Furniture Industries, Inc. and Amarin Corp. plc have been selected as today's breakout stocks. Zeroing in on Breakout Stocks To identify a breakout stock, determine the support and resistance levels. A support level is the lower boundary for a stock's movements, while a resistance level indicates the maximum price it trades at during a significant period. In simple terms, demand is the lowest at the support level, meaning most traders are willing to sell. Conversely, most traders are eager to buy at the resistance level, hoping to add the stock to their portfolio. The key to spotting breakout stocks is to focus on those approaching a breakout or just breaking above the resistance level. Has a Genuine Breakout Occurred? The primary risk associated with such a strategy is that the decision to buy an apparent breakout candidate has been incorrectly timed. When a stock moves above the resistance level, it should be a highly prized commodity for traders. However, whether such a breakout is genuine is another matter altogether. For a bona fide breakout, the stock's earlier resistance barrier should become its new support level. This only happens if the established trading channel is tested by observing long-term price trends. The strength of the support and resistance levels can be ascertained only through such a study. Despite the risk of misidentification, correctly identifying such stocks can yield considerable returns, even at a price that may not seem attractive at first glance. These criteria narrow the universe of more than 6,853 stocks to only seven. Here are the top three stocks: Mama's Creations Mama's Creations, along with its subsidiaries, produces and sells freshly prepared deli foods in the United States. Mama's Creations is expected to have an earnings growth rate of 77.8% for the current year. Bassett Furniture Industries Bassett Furniture Industries and its subsidiaries are involved in the manufacturing, marketing and retailing of home furnishings within the United States. Bassett Furniture Industries is expected to have an earnings growth rate of 272.9% for the current year. Amarin Corporation Amarin Corporation is a pharmaceutical company that focuses on developing and marketing therapies to treat cardiovascular diseases in the United States, Europe and globally. Amarin Corporation is expected to have an earnings growth rate of 42.5% for the current year. You can get the rest of the stocks on this list by signing up now for your 2-week free trial to the Research Wizard and start using this screen in your own trading. Further, you can also create your own strategies and test them first before taking the investment plunge. The Research Wizard is a great place to begin. It's easy to use. Everything is in plain language. And it's very intuitive. Start your Research Wizard trial today. And the next time you read an economic report, open up the Research Wizard, plug your finds in, and see what gems come out. Click here to sign up for a free trial to the Research Wizard today. For the rest of this Screen of the Week article please visit at: Disclosure: Officers, directors and/or employees of Zacks Investment Research may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. An affiliated investment advisory firm may own or have sold short securities and/or hold long and/or short positions in options that are mentioned in this material. About Screen of the Week created the first and best screening system on the web earning the distinction as the "#1 site for screening stocks" by Money Magazine. But powerful screening tools is just the start. That is why Zacks created the Screen of the Week to highlight profitable stock picking strategies that investors can actively use. Strong Stocks that Should Be in the News Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has more than doubled the market from 1988 through 2016. Its average gain has been a stellar +25% per year. See these high-potential stocks free >>. Follow us on Twitter: Join us on Facebook: Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates. Contact: Jim Giaquinto Company: Phone: 312-265-9268 Email: pr@ Visit: provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit information about the performance numbers displayed in this press release. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amarin Corporation PLC (AMRN) : Free Stock Analysis Report Bassett Furniture Industries, Incorporated (BSET) : Free Stock Analysis Report Mama's Creations, Inc. (MAMA) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Daily Mail
17-07-2025
- Business
- Daily Mail
Bassett Furniture, Gregory Commercial Furniture and Workstations collapses into voluntry administration
A Sydney furniture firm has collapsed into administration, locked out of its site and unable to deliver $500,000 in orders. Customers of Inventis furniture brands may be left in limbo after five companies, including Bassett Furniture, Gregory Commercial Furniture, and Workstations went into voluntary administration in late June. The ASX-listed group owes nearly $30 million, according to ASIC documents. This is a breaking story more to come.
Washington Post
10-07-2025
- Business
- Washington Post
Bassett: Fiscal Q2 Earnings Snapshot
BASSETT, Va. — BASSETT, Va. — Bassett Furniture Industries Inc. (BSET) on Wednesday reported fiscal second-quarter net income of $1.9 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Bassett, Virginia-based company said it had net income of 22 cents. The furniture seller posted revenue of $84.3 million in the period.
Yahoo
09-07-2025
- Business
- Yahoo
Bassett: Fiscal Q2 Earnings Snapshot
BASSETT, Va. (AP) — BASSETT, Va. (AP) — Bassett Furniture Industries Inc. (BSET) on Wednesday reported fiscal second-quarter net income of $1.9 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Bassett, Virginia-based company said it had net income of 22 cents. The furniture seller posted revenue of $84.3 million in the period. Bassett shares have risen 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.99, a climb of 29% in the last 12 months. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on BSET at
Yahoo
09-07-2025
- Business
- Yahoo
Bassett Reports Fiscal Second Quarter Results
BASSETT, Va., July 09, 2025 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) reported today its results of operations for its second quarter ended May 31, 2025. Q2 Consolidated Business Highlights: [FY 25 vs. FY 24, unless otherwise specified] Revenues increased 1.1% from the prior year quarter. Excluding sales from Noa Home Inc. which closed in late 2024, consolidated revenues increased 2.5%. Operating income was $2.5 million or 3.0% of sales as compared to a loss of $(8.5) million for the prior year quarter which included $5.5 million of asset impairment charges and $2.7 million of additional inventory valuation charges. Gross margin at 55.6% represented a 310 basis point improvement over the prior year as the Company recorded the above-mentioned inventory valuation charges in the second quarter of 2024. Excluding those charges, gross margin would have been essentially flat to the prior year quarter. Selling, general and administrative expenses were 52.7% of sales, 330 basis points lower than the prior year, reflecting benefits from the prior year restructuring plan and on-going cost containment activities. Generated $7.0 million of operating cash flow. Diluted earnings per share of $0.22 as compared to a loss of $(0.82) in the prior year. Fiscal 2025 Second Quarter Overview (Dollars in millions) Sales Operating Income (Loss) 2nd Qtr Dollar % 2nd Qtr % of 2nd Qtr % of 2025 2024 Change Change 2025 Sales 2024 Sales Consolidated (1) $ 84.3 $ 83.4 $ 0.9 1.1 % $ 2.5 3.0 % $ (8.5 ) -10.1 % Wholesale $ 54.2 $ 52.6 $ 1.6 3.1 % $ 8.3 15.3 % $ 5.7 10.8 % Retail $ 54.2 $ 50.5 $ 3.7 7.5 % $ 0.5 0.9 % $ (2.2 ) -4.4 % Corporate & Other (2) $ - $ 1.1 $ (1.1 ) -100.0 % $ (6.5 ) N/A $ (6.9 ) N/A (1) Our consolidated results for the quarter include certain intercompany eliminations. Consolidated results for the 2nd quarter of 2024 include asset impairment charges of $5.5 million which are not allocated to our segment operating results. See Table 4, "Segment Information" below for an illustration of the effects of these items on our consolidated sales and operating income. (2) Corporate and Other includes the operations of Noa Home Inc. (fiscal 2024 only) along with the shared Corporate costs that are benefiting both the Wholesale and Retail segments. 'We're pleased with both revenue and operating income improvements in the second quarter, despite the ongoing challenges affecting consumer confidence and purchasing decisions, including a historically weak housing market and uncertainty about the impact of trade tariffs on the cost of goods,' said Robert H. Spilman, Jr., Bassett Chairman and Chief Executive Officer. 'Our rigorous attention to increased operating efficiency, product launches, expanded e-commerce capabilities and more customized marketing helped us weather this tepid home furnishings market. We believe these advantages and our strong US manufacturing base position Bassett well to serve both wholesale and retail markets for the second half of fiscal 2025.' Conference Call and Webcast The Company will hold a conference call to discuss its quarterly results on July 10, 2025, at 9:00 am ET. The public is invited to listen to the conference call by webcast, accessible through the Company's investor relations website, Participants can also listen to the conference call via A replay and transcript of the conference call will be available on demand on the investor relations site. About Bassett Furniture Industries, Inc. Bassett Furniture Industries, Inc. (NASDAQ: BSET) is a leading provider of high-quality home furnishings with a wide range of distribution types. Bassett sales approximately 60% of its products through its network of 87 company- and licensee-owned stores which feature the latest on-trend furniture styles, the Company's capabilities in custom furniture design and manufacturing, free in-home design visits, and coordinated decorating accessories in a professional and friendly environment. Bassett also has a significant traditional wholesale business with more than 1,000 open market accounts. Most of the open market sales are through Bassett Design Centers and Bassett Custom Studios which function as a store within a multi-line store featuring the Company's custom furniture capabilities. The wholesale business, including the Lane Venture outdoor brand, also services general furniture stores and a growing number of interior design firms. Bassett products are also directly available to consumers at (BSET-E) Forward-Looking StatementsCertain of the statements in this release, particularly those preceded by, followed by or including the words 'believes,' 'plans,' 'expects,' 'anticipates,' 'intends,' 'should,' 'estimates,' or similar expressions, or those relating to or anticipating financial results or changes in operations for periods beyond the end of the second fiscal quarter of 2025, constitute 'forward looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended. For those statements, Bassett claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. In many cases, Bassett cannot predict what factors would cause actual results to differ materially from those indicated in the forward-looking statements. Expectations included in the forward-looking statements are based on preliminary information, as well as certain assumptions which management believes to be reasonable at this time. The following important factors affect Bassett and could cause actual results to differ materially from those indicated in the forward looking statements: the effects of national and global economic or other conditions and future events on the retail demand for home furnishings and the ability of Bassett's customers and consumers to obtain credit; the success of marketing, logistics, retail and other initiatives; and the economic, competitive, governmental and other factors identified in Bassett's filings with the Securities and Exchange Commission. Any forward-looking statement that Bassett makes speaks only as of the date of such statement, and Bassett undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Comparisons of results for current and any prior periods are not intended to express any future trends or indication of future performance, unless expressed as such, and should only be viewed as historical data. Table 1 BASSETT FURNITURE INDUSTRIES, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Operations - unaudited (In thousands, except for per share data) Quarter Ended Six Months Ended* May 31, 2025 June 1, 2024 May 31, 2025 June 1, 2024 Percent of Percent of Percent of Percent of Amount Net Sales Amount Net Sales Amount Net Sales Amount Net Sales Net sales of furniture and accessories $ 84,348 100.0 % $ 83,410 100.0 % $ 166,510 100.0 % $ 169,964 100.0 % Cost of furniture and accessories sold 37,439 44.4 % 39,650 47.5 % 72,771 43.7 % 78,337 46.1 % Gross profit 46,909 55.6 % 43,760 52.5 % 93,739 56.3 % 91,627 53.9 % Selling, general and administrative expenses 44,412 52.7 % 46,707 56.0 % 88,787 53.3 % 96,931 57.0 % Asset impairment charges - 0.0 % 5,515 6.6 % - 0.0 % 5,515 3.2 % Income (loss) from operations 2,497 3.0 % (8,462 ) -10.1 % 4,952 3.0 % (10,819 ) -6.4 % Interest income 521 0.6 % 627 0.8 % 1,080 0.6 % 1,383 0.8 % Other loss, net (422 ) -0.5 % (276 ) -0.3 % (881 ) -0.5 % (380 ) -0.2 % Income (loss) before income taxes 2,596 3.1 % (8,111 ) -9.7 % 5,151 3.1 % (9,816 ) -5.8 % Income tax expense (benefit) 678 0.8 % (910 ) -1.1 % 1,379 0.8 % (1,422 ) -0.8 % Net income (loss) 1,918 2.3 % (7,201 ) -8.6 % 3,772 2.3 % (8,394 ) -4.9 % Basic and diluted earnings (loss) per share $ 0.22 $ (0.82 ) $ 0.43 $ (0.96 ) *26 weeks in fiscal 2025 versus 27 weeks in fiscal 2024. Table 2 BASSETT FURNITURE INDUSTRIES, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (In thousands) (Unaudited) Assets May 31, 2025 November 30, 2024 Current assets Cash and cash equivalents $ 39,433 $ 39,551 Short-term investments 20,385 20,360 Accounts receivable, net 12,883 13,181 Inventories, net 59,362 54,965 Recoverable income taxes 4,607 4,240 Other current assets 7,523 9,242 Total current assets 144,193 141,539 Property and equipment, net 75,088 77,047 Other long-term assets Deferred income taxes, net 5,493 6,867 Goodwill 7,217 7,217 Intangible assets 6,939 6,968 Right of use assets under operating leases 84,877 93,624 Other 7,526 7,908 Total long-term assets 112,052 122,584 Total assets $ 331,333 $ 341,170 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 14,533 $ 13,303 Accrued compensation and benefits 7,798 6,898 Customer deposits 24,029 25,742 Current portion of operating lease obligations 19,702 18,050 Other accrued expenses 8,462 9,410 Total current liabilities 74,524 73,403 Long-term liabilities Post employment benefit obligations 10,814 10,882 Long-term portion of operating lease obligations 78,116 88,395 Other long-term liabilities 1,103 1,163 Total long-term liabilities 90,033 100,440 Stockholders' equity Common stock 43,410 43,681 Retained earnings 122,597 122,847 Additional paid-in-capital - 6 Accumulated other comprehensive income 769 793 Total stockholders' equity 166,776 167,327 Total liabilities and stockholders' equity $ 331,333 $ 341,170 Table 3 BASSETT FURNITURE INDUSTRIES, INC. AND SUBSIDIARIES Consolidated Statements of Cash Flows - unaudited (In thousands) Six Months Ended* May 31, 2025 June 1, 2024 Operating activities: Net income (loss) $ 3,772 $ (8,394 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Depreciation and amortization 4,478 5,291 Asset impairment charges - 5,515 Inventory valuation charges 1,292 3,879 Deferred income taxes 1,374 (1,440 ) Other, net 642 689 Changes in operating assets and liabilities: Accounts receivable 298 241 Inventories (5,689 ) 2,228 Other current and long-term assets 1,352 (1,217 ) Right of use assets under operating leases 8,474 8,707 Customer deposits (1,713 ) 233 Accounts payable and other liabilities 978 (6,930 ) Obligations under operating leases (8,355 ) (10,721 ) Net cash provided by (used in) operating activities 6,903 (1,919 ) Investing activities: Purchases of property and equipment (2,275 ) (3,683 ) Other (74 ) (383 ) Net cash used in investing activities (2,349 ) (4,066 ) Financing activities: Cash dividends (3,476 ) (3,153 ) Other issuance of common stock 165 179 Repurchases of common stock (1,158 ) (489 ) Taxes paid related to net share settlement of equity awards (136 ) (161 ) Repayments of finance lease obligations (67 ) (153 ) Net cash used in financing activities (4,672 ) (3,777 ) Effect of exchange rate changes on cash and cash equivalents - 1 Change in cash and cash equivalents (118 ) (9,761 ) Cash and cash equivalents - beginning of period 39,551 52,407 Cash and cash equivalents - end of period $ 39,433 $ 42,646 *26 weeks in fiscal 2025 versus 27 weeks in fiscal 2024. Table 4 BASSETT FURNITURE INDUSTRIES, INC. AND SUBSIDIARIES Segment Information - unaudited (In thousands) Quarter Ended Six Months Ended* May 31, 2025 June 1, 2024 May 31, 2025 June 1, 2024 Sales Revenue Wholesale sales of furniture and accessories $ 54,229 $ 52,610 $ 107,156 $ 107,310 Less: Sales to retail segment (24,113) (20,752) (48,172) (44,514) Wholesale sales to external customers 30,116 31,858 58,984 62,796 Retail sales of furniture and accessories 54,232 50,468 107,526 104,222 Corporate & Other - Noa Home (1) - 1,084 - 2,946 Consolidated net sales of furniture and accessories $ 84,348 $ 83,410 $ 166,510 $ 169,964 Income (Loss) before Income Taxes Income (Loss) from Operations Wholesale $ 8,290 $ 5,687 $ 16,975 $ 12,446 Retail 482 (2,222) 434 (3,834) Net expenses - Corporate and other (1) (6,521) (6,942) (12,747) (14,537) Inter-company elimination 246 530 290 621 Asset impairment charges - (5,515) - (5,515) Consolidated income (loss) from operations 2,497 (8,462) 4,952 (10,819) Interest income 521 627 1,080 1,383 Other loss, net (422) (276) (881) (380) Consolidated income (loss) before income taxes $ 2,596 $ (8,111) $ 5,151 $ (9,816) *26 weeks in fiscal 2025 versus 27 weeks in fiscal 2024. (1) Corporate and Other includes the operations of Noa Home Inc. (fiscal 2024 only) along with the shared Corporate costs that are benefiting both the Wholesale and Retail segments. Contacts:J. Michael DanielSenior Vice President and Chief Financial Officer(276) 629-6620 – Investorsmdaniel@ Peter D. MorrisonVice President of Communications (276) 629-6450 – MediaError while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
