Tag Archives: Robert Spilman Jr.

Bassett Q1 Net Falls 14 Percent

Bassett

BASSETT, Va.-Downtrending sales, increased new store-related costs and reduced margins in its wholesale segment combined to slash Bassett Furniture’s first-quarter net income by 14 percent, to $843,000. Net sales in the quarter, which ended on March 1, fell 5.3 percent to $75.6 million. Included in the top-line total was a 5.4 percent decline in salesMore »

Last updated: April 3, 2014

Bassett Posts Q3 Sales Gain of 19.7 Percent; Net Falls on 2012 Income Tax Benefit

Bassett

BASSETT, Va.-Bassett Furniture Industries recorded its fourth consecutive quarter of double-digit sales growth in its fiscal third quarter ending on Aug. 31. Net sales totaled $77.2 million, up 19.7 percent. Because of a favorable provision related to its 2011 federal tax return recorded in last year’s third quarter, the company’s net income in the quarterMore »

Last updated: October 3, 2013