--- title: "Bassett Furniture | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 80.34 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/281419972.md" datetime: "2026-04-01T20:28:44.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281419972.md) - [en](https://longbridge.com/en/news/281419972.md) - [zh-HK](https://longbridge.com/zh-HK/news/281419972.md) --- # Bassett Furniture | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 80.34 M Revenue: As of FY2026 Q1, the actual value is USD 80.34 M, missing the estimate of USD 83.94 M. EPS: As of FY2026 Q1, the actual value is USD 0.13, missing the estimate of USD 0.17. EBIT: As of FY2026 Q1, the actual value is USD 604 K. #### Fiscal First Quarter 2026 Consolidated Business Highlights #### Revenue Consolidated revenues decreased by 2.2% from the prior year quarter. Net sales for 巴西特家具 (Bassett Furniture Industries, Incorporated) were $80,340 thousand for the first quarter ended February 28, 2026, compared to $82,162 thousand for the first quarter ended March 1, 2025. #### Gross Margin Gross margin was 56.2% for the first quarter ended February 28, 2026, an 80-basis point decrease from the prior year, due to lower margins in both the wholesale and retail businesses. Gross profit was $45,165 thousand (56.2% of net sales) in Q1 2026, compared to $46,830 thousand (57.0% of net sales) in Q1 2025. #### Operating Costs Selling, general and administrative expenses were $43,913 thousand (54.7% of net sales) in Q1 2026, compared to $44,375 thousand (54.0% of net sales) in Q1 2025. Selling, general and administrative expenses, excluding new store preopening costs, were 54.7% of sales, which is 70 basis points higher than the prior year, reflecting reduced leverage of fixed costs due to lower sales levels. New store preopening costs were $95 thousand (0.1% of net sales) in Q1 2026, compared to $0 thousand in Q1 2025. Cost of goods sold was $35,175 thousand (43.8% of net sales) in Q1 2026, compared to $35,332 thousand (43.0% of net sales) in Q1 2025. #### Operating Profit / Income Consolidated operating income was $1.2 million (1.4% of sales) for Q1 2026, compared to $2.5 million (3.0% of sales) for the prior year quarter. Income from operations was $1,157 thousand in Q1 2026, compared to $2,455 thousand in Q1 2025. #### Net Income Net income was $1,116 thousand in Q1 2026, compared to $1,854 thousand in Q1 2025. Income before income taxes was $1,518 thousand in Q1 2026, compared to $2,555 thousand in Q1 2025. Income tax expense was $402 thousand in Q1 2026, compared to $701 thousand in Q1 2025. #### Other Income/Loss Interest income was $553 thousand in Q1 2026, compared to $559 thousand in Q1 2025. Other income, net was - $192 thousand in Q1 2026, compared to - $459 thousand in Q1 2025. #### Cash Flow The company used $5.5 million of cash in operating activities in Q1 2026, compared to - $52 thousand in Q1 2025. Net cash used in investing activities was - $888 thousand in Q1 2026, compared to - $882 thousand in Q1 2025. Net cash used in financing activities was - $1,932 thousand in Q1 2026, compared to - $2,555 thousand in Q1 2025. Cash and cash equivalents at the end of the period were $32,989 thousand as of February 28, 2026, compared to $41,277 thousand as of November 29, 2025. #### Segment-Specific Metrics (Q1 2026 vs. Q1 2025) #### Sales Revenue by Segment Wholesale sales to external customers were $27,795 thousand, compared to $28,868 thousand. Retail sales were $52,545 thousand, compared to $53,294 thousand. Total Wholesale sales were $53.0 million, a 0.1% increase from $52.9 million in the prior year. Total Retail sales were $52.5 million, a -1.4% decrease from $53.3 million in the prior year. #### Operating Income by Segment Wholesale operating income was $8,395 thousand (15.8% of sales), compared to $8,685 thousand (16.4% of sales). Retail operating income was - $1,034 thousand (-1.9% of sales), compared to - $48 thousand (0.0% of sales). Corporate and other operating income was - $6,118 thousand, compared to - $6,226 thousand. #### Outlook / Guidance 巴西特家具 (Bassett Furniture Industries, Incorporated) anticipates an eventual rebound in the housing market to drive demand. The company is making measured cash investments in its omni-channel model, including a 28% increase in e-commerce sales and new store construction and renovations. 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