olivLaw · US equity research
Bassett Furniture Industries, Inc. BSET
Wood Household Furniture, (No Upholstered) · SIC 2511 · Vertical: Furniture and fixtures (SIC 251x)
Bassett Furniture Industries is a Virginia-based maker and retailer of branded home furniture that sells through its own store network and wholesale channels. The company reported net sales of 335.28 million USD in fiscal 2025 and returned to growth in the third quarter of fiscal 2026, in a context where furniture demand remains under pressure from the housing market.
At the close of 05 Nov 2026, Bassett Furniture Industries, Inc. (BSET) stock was 22.13 USD (−5.02% on the day), with market capitalisation 191.5 m USD, P/E 31.6 on diluted EPS of 0.70 USD over the last 12 months, dividend yield 3.62%, beta 0.38, 52-week range 13.92–23.30 USD. Latest reported quarter (Q3 2026): revenue of 82.8 m USD (+3.4% YoY), net income of 2.1 m USD (+162.3% YoY), diluted EPS 0.24 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 55.2
- strong (55–70)
- Bollinger (20, 2)
- 20.66 – 23.36
- in the upper half of the band · %B 0.54 · band width 12.3%
- SMA 50 / 200
- 19.99 / 17.17
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.79 / 0.83
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +4.8% | −5.9% | +10.7 pp | — |
| 3 months | +9.1% | −4.6% | +13.7 pp | — |
| 6 months | +55.3% | +0.2% | +55.1 pp | — |
| Year to date | +32.0% | +7.4% | +24.6 pp | — |
| 1 year | +45.8% | +8.2% | +37.6 pp | −12.4% |
| 3 years | +33.1% | +68.4% | −35.4 pp | −18.3% |
| 5 years | +23.1% | +56.5% | −33.5 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 29 Aug 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 84.3 m | 82.2 m | 84.3 m | 80.1 m | 88.7 m | 80.3 m | 83.8 m | 82.8 m |
| Cost of revenue | 36.6 m | 35.3 m | 37.4 m | 35.1 m | 38.7 m | 35.2 m | 36.4 m | 35.2 m |
| Gross profit | 47.7 m | 46.8 m | 46.9 m | 45.0 m | 49.9 m | 45.2 m | 47.3 m | 47.6 m |
| SG&A | 45.4 m | 44.4 m | 44.4 m | 44.4 m | 47.2 m | 43.9 m | 44.6 m | 44.7 m |
| Operating income | 907.0 k | 2.5 m | 2.5 m | 593.0 k | 2.3 m | 1.2 m | 2.2 m | 2.8 m |
| Depreciation & amortisation | 2.3 m | 2.2 m | 2.2 m | 2.1 m | 2.2 m | 2.2 m | 2.3 m | 2.2 m |
| Pre-tax income | 1.2 m | 2.6 m | 2.6 m | 1.1 m | 2.5 m | 1.5 m | 2.8 m | 2.9 m |
| Income tax | -2.0 m | 701.0 k | 678.0 k | 294.0 k | 987.0 k | 402.0 k | 737.0 k | 786.0 k |
| Net income | 3.2 m | 1.9 m | 1.9 m | 801.0 k | 1.5 m | 1.1 m | 2.0 m | 2.1 m |
| Diluted EPS | — | 0.21 | 0.22 | 0.09 | — | 0.13 | 0.24 | 0.24 |
| Operating cash flow | 6.4 m | -52.0 k | 7.0 m ≈ | -1.2 m ≈ | 7.8 m | -5.5 m | 7.4 m ≈ | 6.1 m ≈ |
| Capex | 491.0 k | 871.0 k | 1.4 m ≈ | 1.5 m ≈ | 793.0 k | 863.0 k | 1.7 m ≈ | 4.3 m ≈ |
| Dividends paid | 1.7 m | 1.7 m | 1.7 m ≈ | 1.7 m ≈ | 1.7 m | 1.7 m | 1.7 m ≈ | 1.7 m ≈ |
| Share repurchases | 293.0 k | 721.0 k | 437.0 k ≈ | 364.0 k ≈ | 628.0 k | 147.0 k | 506.0 k ≈ | 126.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 100 percentile of its own 22-quarter history (min 2.6, median 19.5, max 26.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 456.9 m | 452.1 m | 337.7 m | 430.9 m | 485.6 m | 390.1 m | 329.9 m | 335.3 m |
| Revenue YoY | +1.0% | −1.0% | −25.3% | +27.6% | +12.7% | −19.7% | −15.4% | +1.6% |
| Net income | 8.2 m | -1.9 m | -10.4 m | 18.0 m | 65.3 m | -3.2 m | -9.7 m | 6.1 m |
| Net income YoY | −55.0% | −123.5% | unavailable | unavailable | +262.2% | −104.9% | unavailable | unavailable |
| Diluted EPS | 0.77 | -0.19 | -1.04 | 1.83 | 6.95 | -0.36 | -1.11 | 0.70 |
| Diluted EPS YoY | −54.7% | −124.7% | unavailable | unavailable | +279.8% | −105.2% | unavailable | unavailable |
| net % | 1.8% | -0.4% | -3.1% | 4.2% | 13.5% | -0.8% | -2.9% | 1.8% |
| Free cash flow | 11.6 m | -7.6 m | 30.6 m | 3.8 m | -24.3 m | 1.2 m | -1.2 m | 9.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 29 Nov 2025
- Cash
- 41.3 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 165.1 m USD
- Total assets
- 323.8 m USD
- Debt / equity
- unavailable
- Current ratio
- 1.89x
- ROE
- 3.7%
- ROA
- 1.8%
- FCF margin
- 2.7%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 337.7 m | 430.9 m | 485.6 m | 390.1 m | 329.9 m | 335.3 m | SEC (XBRL)· 05 Feb 2026verified |
| Cost of revenue | 163.6 m | 209.8 m | 237.3 m | 183.6 m | 150.5 m | 146.6 m | SEC (XBRL)· 05 Feb 2026verified |
| Gross profit | 174.1 m | 221.1 m | 248.3 m | 206.5 m | 179.4 m | 188.7 m | SEC (XBRL)· 05 Feb 2026verified |
| SG&A | 176.4 m | 196.8 m | 218.1 m | 205.2 m | 187.5 m | 180.4 m | SEC (XBRL)· 05 Feb 2026verified |
| Operating income | -17.5 m | 24.3 m | 34.9 m | -3.1 m | -16.3 m | 7.8 m | SEC (XBRL)· 05 Feb 2026verified |
| Depreciation & amortisation | 13.5 m | 14.6 m | 11.3 m | 10.1 m | 9.9 m | 8.8 m | SEC (XBRL)· 05 Feb 2026verified |
| EBITDA | -4.0 m ≈ | 38.9 m ≈ | 46.2 m ≈ | 7.0 m ≈ | -6.4 m ≈ | 16.6 m ≈ | SEC (XBRL)· 05 Feb 2026derived |
| Interest expense | 0 | 33.0 k | 38.0 k | 22.0 k | 30.0 k | 52.0 k | SEC (XBRL)· 05 Feb 2026verified |
| Pre-tax income | -18.0 m | 22.8 m | 34.1 m | -2.5 m | -14.4 m | 8.8 m | SEC (XBRL)· 05 Feb 2026verified |
| Income tax | -6.5 m | 5.8 m | 8.7 m | 683.0 k | -4.7 m | 2.7 m | SEC (XBRL)· 05 Feb 2026verified |
| Net income | -10.4 m | 18.0 m | 65.3 m | -3.2 m | -9.7 m | 6.1 m | SEC (XBRL)· 05 Feb 2026verified |
| Diluted EPS | -1.04 | 1.83 | 6.95 | -0.36 | -1.11 | 0.70 | SEC (XBRL)· 05 Feb 2026verified |
| Weighted average diluted shares | 10.0 m | 9.8 m | 9.4 m | — | — | — | SEC (XBRL)· 24 Jan 2023verified |
| Dividend per share | 0.46 | 0.53 | 0.60 | 0.68 | 0.76 | 0.80 | SEC (XBRL)· 05 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 45.8 m | 34.4 m | 61.6 m | 52.4 m | 39.6 m | 41.3 m | SEC (XBRL)· 05 Feb 2026verified |
| Receivables | 22.3 m | 20.6 m | 17.8 m | 13.7 m | 13.2 m | 14.4 m | SEC (XBRL)· 05 Feb 2026verified |
| Inventories | 54.9 m | 78.0 m | 85.5 m | 63.0 m | 55.0 m | 61.8 m | SEC (XBRL)· 05 Feb 2026verified |
| Current assets | 160.7 m | 180.3 m | 196.5 m | 158.0 m | 141.5 m | 145.5 m | SEC (XBRL)· 05 Feb 2026verified |
| Property, plant & equipment, net | 90.9 m | 69.2 m | 77.0 m | 84.0 m | 77.0 m | 73.2 m | SEC (XBRL)· 05 Feb 2026verified |
| Goodwill | 7.2 m | 7.2 m | 12.8 m | 7.2 m | 7.2 m | 7.2 m | SEC (XBRL)· 05 Feb 2026verified |
| Intangibles (excl. goodwill) | 2.3 m | 232.0 k | 232.0 k | 175.0 k | 7.0 m | 6.9 m | SEC (XBRL)· 05 Feb 2026verified |
| Total assets | 402.5 m | 421.7 m | 406.3 m | 370.4 m | 341.2 m | 323.8 m | SEC (XBRL)· 05 Feb 2026verified |
| Accounts payable | 23.4 m | 24.0 m | 20.4 m | 16.3 m | 13.3 m | 14.7 m | SEC (XBRL)· 05 Feb 2026verified |
| Current liabilities | 118.4 m | 134.2 m | 100.8 m | 77.9 m | 73.4 m | 77.0 m | SEC (XBRL)· 05 Feb 2026verified |
| Equity | 158.0 m † | 162.7 m † | 195.6 m † | 183.4 m † | 167.3 m † | 165.1 m † | SEC (XBRL)· 05 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 36.7 m | 14.6 m | -3.0 m | 18.7 m | 4.1 m | 13.5 m | SEC (XBRL)· 05 Feb 2026verified |
| Capex | 6.0 m | 10.8 m | 21.3 m | 17.5 m | 5.2 m | 4.5 m | SEC (XBRL)· 05 Feb 2026verified |
| Free cash flow | 30.6 m ≈ | 3.8 m ≈ | -24.3 m ≈ | 1.2 m ≈ | -1.2 m ≈ | 9.0 m ≈ | SEC (XBRL)· 05 Feb 2026derived |
| Investing cash flow | -3.7 m | -11.6 m | 65.8 m | -17.8 m | -8.8 m | -2.7 m | SEC (XBRL)· 05 Feb 2026verified |
| Financing cash flow | -6.8 m | -14.4 m | -35.6 m | -10.2 m | -8.1 m | -9.0 m | SEC (XBRL)· 05 Feb 2026verified |
| Dividends paid | 4.5 m | 7.7 m | 20.2 m | 6.0 m | 6.7 m | 6.9 m | SEC (XBRL)· 05 Feb 2026verified |
| Share repurchases | 2.2 m | 5.6 m | 15.1 m | 4.2 m | 1.4 m | 2.2 m | SEC (XBRL)· 05 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 43 / 100
A scoring methodology on indicators and valuation, not investment advice.
(margin_of_safety <= -0.25 & agreement in ['high', 'medium'])
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 191.5 m USD
Key indicators
Coverage and freshness
Score by group
- Returns57
- Growth0
- Balance sheet98
- Valuation24
- Quality72
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 9.31 – 14.14 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E9.31 – 11.04 (Mid 9.89)4 companies used · median multiple 12.6x · quartiles 11.9x – 14.1xETD, FLXS, LZB, XMAX
- Dividend discount (DDM)10.51 – 14.14 (Mid 12.06)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 43/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 2.0% | 44 (vs peers) | 9% |
| FCF conversion · Quality | 119.6% | 100 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | -11.6% | 0 (on a fixed band) | 12% |
| EPS CAGR 3Y · Growth | -53.5% | 0 (on a fixed band) | 12% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 162.8x | 100 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 2.0x | 96 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 28.2x | 0 (vs peers) | 15% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 4.2% | 53 (on a fixed band) | 12% |
| Shareholder yield (distributions) · Returns | 4.3% | 62 (on a fixed band) | 9% |
| Payout ratio (FCF) · Returns | 85.2% | 50 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet98/100 · 2/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality72/100 · 2/3 factors with a value
- Returns57/100 · 2/2 factors with a value
- Valuation24/100 · 2/3 factors with a value
Memo
BASSETT FURNITURE INDUSTRIES INC (BSET). Latest full fiscal year: 2025; data up to 2026-08-29.
Figures computed from the financial statements: revenue 335.3 m USD in 2025; YoY growth 1.6%; net margin 2.0%; ROE 4.1%.
The estimated value range is 9.91–12.59 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 10.97 USD, the price of 22.13 USD leaves a potential of -50.4% (value / price − 1) and a margin of safety of -101.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 43/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 119.6%
- Interest coverage: 162.8x
- Current ratio: 2.0x
What contradicts it
- Revenue CAGR 3Y: -11.6%
- EPS CAGR 3Y: -53.5%
- P/E (TTM): 28.2x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, EV/EBITDA.
Versus the vertical median
Furniture and fixtures (SIC 251x) · same industry group (3-digit SIC) · compared with 9 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SGISomnigroup International Inc. | 14.3 bn | 27.1 | 17.6% | 7.0% | +51.6% | −26% / +68% |
| MBCMasterBrand, Inc. | 1.4 bn | — | -5.8% | -3.5% | +1.3% | −36% / −47% |
| LZBLa-Z-Boy Incorporated | 1.3 bn | 16.5 | 8.0% | 3.9% | +0.8% | −16% / −7% |
| CODICompass Diversified Holdings | 863.0 m | — | -17.7% | -5.3% | +4.8% | +56% / −43% |
| ETDEthan Allen Interiors Inc. | 521.7 m | 13.3 | 8.4% | 6.9% | −5.7% | −12% / −23% |
| XMAXXmax Inc. | 322.6 m | 11.6 | 52.9% | 185.9% | +72.6% | −10% / +144% |
| FLXSFlexsteel Industries, Inc. | 305.6 m | 12.0 | 20.5% | 6.7% | +4.1% | +86% / +334% |
| BSETBassett Furniture Industries Inc | 191.5 m | 28.2 | 4.1% | 2.0% | +1.6% | +46% / +33% |
| HOFTHooker Furnishings Corporation | 156.2 m | — | -9.9% | -8.7% | −12.4% | +36% / −18% |
| PRPLPurple Innovation, Inc. | 40.6 m | — | — | -8.9% | −3.9% | −87% / −84% |
1- and 3-year price returns: for BSET from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 11.83 Total return -44% · Per year -44% | 21.02 Total return -2% · Per year -2% | 31.81 Total return 48% · Per year 48% |
| 3 years | 9.39 Total return -51% · Per year -21% | 18.97 Total return -5% · Per year -2% | 31.81 Total return 56% · Per year 16% |
| 5 years | 7.46 Total return -56% · Per year -15% | 17.12 Total return -7% · Per year -2% | 31.81 Total return 64% · Per year 10% |
- Exit P/E± 4.74
- Net margin± 3.32
- Annual revenue growth± 3.00
- Annual dilution± 0.28
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Bassett Furniture Industries is a Virginia-based maker and retailer of branded home furniture that sells through its own store network and wholesale channels. The company reported net sales of 335.28 million USD in fiscal 2025 and returned to growth in the third quarter of fiscal 2026, in a context where furniture demand remains under pressure from the housing market.
SWOT
Strengths
- A recognised brand with a long history and a store network that includes company-owned and licensed stores.
- Domestic production for a significant part of the range supports customization and quality.
- A growing online channel with better conversion and expanding web sales.
Weaknesses
- Store traffic is declining, which puts pressure on the retail model.
- Dependence on the housing market makes demand vulnerable to high mortgage rates.
- Retail margins have been weaker than wholesale margins in some periods.
Opportunities
- Broader product range and new collections, including the new High Point showroom.
- Growth in online sales and an omnichannel approach could attract new customers.
- Operating efficiency could improve margins if volumes recover.
Threats
- Competition from online retailers and direct importers could reduce market share.
- Tariffs and material costs could hit margins if trade policies change.
- A prolonged slowdown in housing activity could further restrict furniture demand.
Risks
- Dependence on housing markethigh
Furniture purchases depend on home transactions, and a further decline could reduce sales.
- Intense competitionmedium
Barriers to entry are low and online competitors could gain market share.
- Foreign sourcing and tariffsmedium
Changes in tariffs and regulations in sourcing countries could raise costs.
- Cybersecuritymedium
Computer systems could be disrupted by attacks, which could affect sales and reputation.
- Licensee obligationslow
Some licensed stores might not be able to meet their financial obligations to the company.
Investment thesis
What would need to be true (bull case)
- Sales rose in the third quarter of fiscal 2026 and gross margin improved, suggesting efficiency could support profitability if demand recovers.
- The online channel is growing strongly, and the store network plus domestic production give a differentiated market position.
- Cost reductions and tariff refunds could support results in the coming quarters.
What would break the thesis
- Demand remains tied to a slow housing market, and high mortgage rates could keep sales below historical levels.
- Store traffic is declining, which could force closures or cuts in the retail network.
- Online competition and direct imports could limit growth and pressure margins.
What to watch
- Fourth-quarter results and Black Friday promotion salesQ4 2026
- Opening of the Orlando store and its pre-opening cost impactQ4 2026
- Additional tariff refunds and trends in import costsQ4 2026
- Final store count and any closures in the retail network2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Bassett Furniture Industries is a retailer, manufacturer and marketer of branded home furnishings, founded in 1902 and incorporated in Virginia in 1930. The company runs two reportable segments, wholesale and retail through company-owned stores, and about 60% of wholesale sales come from the Bassett Home Furnishings store network, which includes both company-owned and licensee-owned stores 12. Production is concentrated in factories in North Carolina, Virginia and Alabama, while formal bedroom and dining casegoods and some leather upholstery are sourced from Vietnam 1.
Digital outreach is the main channel for brand advertising and customer acquisition, and web sales rose 25% in fiscal 2025 thanks to better sales conversion even though website traffic fell 8% 1. In the third quarter of fiscal 2026 written web sales grew 48% year over year, showing that the online strategy is offsetting lower traffic 3.
The company closed Noa Home, a mid-priced online furniture retailer with operations in Canada, Australia, Singapore and the United Kingdom, after repeated operating losses, and substantially completed its liquidation at the end of 2024 1. In 2026 Bassett acquired one store from a former licensee and opened a company-owned store, with a second company-owned store in Orlando expected to open in early October 2026 2.
Segments
Retail - company-owned stores
The retail segment consists of 57 company-owned Bassett stores, with net sales of 216.681 million USD in fiscal 2025, a rise from the prior year. The company notes that store traffic is declining and that there could be fewer stores in individual markets as management reviews each store's performance 1.
Market context
The home furniture industry is highly fragmented and competitive, with many domestic and foreign manufacturers as well as national, regional and online retailers. Demand is tied to housing activity, and management says housing sales are well below historical trends, which weighs on furniture demand 12. Many furniture retailers have been exiting the industry, and the Iran conflict has added to fuel and material cost pressure 2.
The market is also sensitive to tariffs. The company received 2.8 million USD in tariff refunds in the third quarter of fiscal 2026, after the February 2026 Supreme Court decision invalidated tariffs imposed in 2025 3. Tariffs could raise the cost of imported products, although Bassett states that it imports less than 25% of its products 3.
Trends
- Slow housing marketheadwind
Low housing mobility and high mortgage rates limit furniture demand. If rates ease, demand could recover.
- Growing online salestailwind
Web sales are growing quickly, suggesting the digital strategy could support growth.
- Tariffs and import costsmixed
Tariffs and freight costs could raise the cost of imported products, although recent refunds have partly offset the effect.
- Operating efficiencytailwind
Lower SG&A spending and cost control could support margins if volumes remain stable.
Competitive position
Competition comes from local and regional retailers, national department stores and online retailers offering home delivery. The company notes that barriers to entry are low and new competitors could enter its markets at any time 1.
Furniture makers in the United States and abroad compete on quality, price, style and service, and many retailers import products directly, bypassing domestic manufacturers 1.
- Online furniture retailers
Compete on price, aggressive advertising and e-commerce with home delivery.
- National furniture retailers and department stores
Offer a broad range of furniture and compete on price and presence across many markets.
- Regional and independent specialty retailers
Operate locally and compete on service and customer relationships.
- Foreign furniture manufacturers
Supply imported products directly to retailers, bypassing US manufacturers.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report14 Oct 2026Other events · Financial statements and exhibits
- Quarterly report30 Sept 2026
- Current report30 Sept 2026Results of operations · Financial statements and exhibits
- Current report17 Jul 2026Other events · Financial statements and exhibits
- Current report01 Jul 2026Results of operations · Financial statements and exhibits
- Quarterly report01 Jul 2026
- Current report21 Apr 2026Departure or appointment of officers
- Current report01 Apr 2026Results of operations · Financial statements and exhibits
- Quarterly report01 Apr 2026
- Current report12 Mar 2026Shareholder vote · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-11-29 · SEC / Bassett Furniture Industries, Inc. · 05 Feb 2026
- [2] Form 10-Q, quarter ended 2026-08-29 · SEC / Bassett Furniture Industries, Inc. · 30 Sept 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Bassett Furniture Industries, Inc. · 30 Sept 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.