Bassett Furniture Swings to 2Q Profit on Cost-Cutting Measures

Dow Jones

Jul 10

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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Bassett has since recorded three straight profitable quarters. \n</p>\n<p>\n  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. \n</p>\n<p>\n  Bassett shares rose 6% in late trading. Through Wednesday close, the stock has gained 23% over the past 12 months. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Nicholas G. 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Bassett has since recorded three straight profitable quarters. \n</p>\n<p>\n  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. \n</p>\n<p>\n  Bassett shares rose 6% in late trading. Through Wednesday close, the stock has gained 23% over the past 12 months. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Nicholas G. Miller at nicholas.miller@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 09, 2025 17:30 ET (21:30 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4095","symbol_name":"家庭装饰品","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2550666815","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2550666815","pubTimestamp":1752096600,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"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.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. 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Miller\n\n\n \n\n\nBassett 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. \n\n\n  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. \n\n\n  Sales rose 1.1% to $84.3 million. \n\n\n  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. \n\n\n  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. \n\n\n  Bassett shares rose 6% in late trading. Through Wednesday close, the stock has gained 23% over the past 12 months. \n\n\n \n\n\n  Write to Nicholas G. Miller at nicholas.miller@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 09, 2025 17:30 ET (21:30 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}