By Nicholas G. Miller

Bassett Furniture swung to a second-quarter profit, as the company continues to benefit from a cost-cutting plan even amid ongoing challenges in the furniture market.

The Bassett, Va.-based furniture manufacturer and retailer reported a net income of $1.92 million, or 22 cents per share, compared with a loss of $7.2 million, or 82 cents per share, in the prior-year second quarter.

Sales rose 1.1% to $84.3 million.

Bassett began a restructuring plan a year ago after five straight quarters of bottom-line losses, aiming to reduce costs and withstand limited demand for home furniture amid a slow housing market. Bassett has since recorded three straight profitable quarters.

Bassett Chief Executive Officer Robert H. Spilman, Jr. said increased efficiency, new product launches, more customized marketing and expanded e-commerce helped the company withstand declining consumer sentiment, a weak housing market and uncertainty about the impact of tariffs.

Bassett shares rose 6% in late trading. Through Wednesday close, the stock has gained 23% over the past 12 months.

Write to Nicholas G. Miller at nicholas.miller@wsj.com

(END) Dow Jones Newswires

July 09, 2025 17:30 ET (21:30 GMT)

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