<span item_type="fundamental" item_id="8903634c688a8075ec61325884787f71" counter_id="ST/US/BSET" env="prod"></span><span item_type="announcement" item_id="632795709991815553" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 80.34 M, missing the estimate of USD 83.94 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD 0.13, missing the estimate of USD 0.17.</p><p>EBIT: As of FY2026 Q1, the actual value is USD 604 K.</p><p></p><h3>Consolidated Results (Three Months Ended February 28, 2026 vs. March 1, 2025)</h3><h4>Net Sales</h4><p>Total net sales decreased by $1,822 thousand or -2.2%, from $82,162 thousand in 2025 to $80,340 thousand in 2026, primarily due to winter weather disruptions. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Cost of Goods Sold</h4><p>Consolidated cost of goods sold decreased by $157 thousand or -0.4%, from $35,332 thousand in 2025 to $35,175 thousand in 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Gross Profit</h4><p>Gross profit decreased by $1,665 thousand or -3.6%, from $46,830 thousand (57.0% of sales) in 2025 to $45,165 thousand (56.2% of sales) in 2026, a decline of 80 basis points due to lower margins in both wholesale and retail. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Selling, General and Administrative (SG&amp;A) Expenses</h4><p>SG&amp;A expenses decreased by $462 thousand or -1.0%, from $44,375 thousand (54.0% of sales) in 2025 to $43,913 thousand (54.7% of sales) in 2026, increasing 70 basis points as a percentage of sales due to reduced leverage of fixed costs. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>New Store Pre-opening Costs</h4><p>Costs were $95 thousand in 2026 compared to $0 thousand in 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Income from Operations</h4><p>Income from operations decreased by $1,298 thousand or -52.9%, from $2,455 thousand (3.0% of sales) in 2025 to $1,157 thousand (1.4% of sales) in 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Interest Income</h4><p>Interest income decreased by $6 thousand, from $559 thousand in 2025 to $553 thousand in 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Other Loss, Net</h4><p>Other loss, net, improved by $267 thousand, from - $459 thousand in 2025 to - $192 thousand in 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Net Income</h4><p>Net income was $1,116 thousand in 2026, down from $1,854 thousand in 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Operating Cash Flow</h4><p>Net cash used in operating activities was - $5,468 thousand in 2026, a decline of $5,416 thousand from - $52 thousand in 2025, primarily due to lower income levels and negative changes in working capital. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Investing Activities</h4><p>Net cash used in investing activities was - $888 thousand in 2026, compared to - $882 thousand in 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Capital Expenditures</h4><p>Consolidated capital expenditures were $863 thousand in 2026, compared to $871 thousand in 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Cash and Cash Equivalents</h4><p>Cash and cash equivalents decreased by $8,288 thousand in 2026, ending the period at $32,989 thousand. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h3>Wholesale Segment (Three Months Ended February 28, 2026 vs. March 1, 2025)</h3><h4>Net Sales</h4><p>Net sales increased by $34 thousand or 0.1%, from $52,927 thousand in 2025 to $52,961 thousand in 2026. This included a 0.6% increase in shipments to the retail store network and a 2.6% increase in Lane Venture shipments to wholesale customers, partially offset by a 5.3% decrease in open market shipments. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Gross Profit</h4><p>Gross profit decreased by $242 thousand or -1.3%, from $18,736 thousand (35.4% of sales) in 2025 to $18,494 thousand (34.9% of sales) in 2026, a decline of 50 basis points. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>SG&amp;A Expenses</h4><p>SG&amp;A expenses increased by $48 thousand or 0.5%, from $10,051 thousand (19.0% of sales) in 2025 to $10,099 thousand (19.1% of sales) in 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Income from Operations</h4><p>Income from operations decreased by $290 thousand or -3.3%, from $8,685 thousand (16.4% of sales) in 2025 to $8,395 thousand (15.9% of sales) in 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Wholesale Backlog</h4><p>Backlog was $16,745 thousand at February 28, 2026, compared to $19,515 thousand at March 1, 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h3>Retail–Company-owned Stores Segment (Three Months Ended February 28, 2026 vs. March 1, 2025)</h3><h4>Net Sales</h4><p>Net sales decreased by $749 thousand or -1.4%, from $53,294 thousand in 2025 to $52,545 thousand in 2026, primarily due to winter weather disruptions. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Gross Profit</h4><p>Gross profit decreased by $1,289 thousand or -4.5%, from $28,357 thousand (53.2% of sales) in 2025 to $27,068 thousand (51.5% of sales) in 2026, a decline of 170 basis points. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>SG&amp;A Expenses</h4><p>SG&amp;A expenses decreased by $398 thousand or -1.4%, from $28,405 thousand (53.3% of sales) in 2025 to $28,007 thousand (53.3% of sales) in 2026, remaining flat as a percentage of sales. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>New Store Pre-opening Costs</h4><p>Costs were $95 thousand in 2026, with no comparable costs in 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Loss from Operations</h4><p>Loss from operations increased by $986 thousand, from - $48 thousand in 2025 to - $1,034 thousand in 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h4>Retail Backlog</h4><p>Backlog was $34,247 thousand at February 28, 2026, compared to $36,143 thousand at March 1, 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h3>Corporate and Other (Three Months Ended February 28, 2026 vs. March 1, 2025)</h3><h4>SG&amp;A Expenses</h4><p>SG&amp;A expenses decreased by $108 thousand or -1.7%, from - $6,226 thousand in 2025 to - $6,118 thousand in 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p><h3>Future Outlook and Strategy</h3><p>巴西特家具 (Bassett Furniture Industries, Incorporated) expects full-year capital expenditures to range from $8 million to $12 million. The company believes it has sufficient liquidity to fund operations for the foreseeable future, supported by $50,952 thousand in cash and short-term investments, expected future operating cash flows, and availability under its credit line. New stores are planned for Cincinnati, Ohio, and Orlando, Florida, expected to open by the end of the second and third quarters of fiscal 2026, respectively. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/10329/000143774926010901/bset20260228_10q.htm"></span></p>

Bassett Furniture | 10-Q: FY2026 Q1 Revenue Misses Estimate at USD 80.34 M