Quarterly ResultJul 1, 2026, 04:27 PM
Bassett Q2 EPS $0.24, Net Sales $83.8M; Adjusted Profit Up
AI Summary
Bassett Furniture Industries reported mixed results for its fiscal second quarter, with diluted earnings per share increasing to $0.24 from $0.22 year-over-year, despite a slight 0.7% decrease in consolidated net sales to $83.8 million. Adjusted operating profit improved, and gross margin rose by 90 basis points to 56.5%. The company highlighted strong retail performance, with Memorial Day written sales up 14%, and a 40% increase in e-commerce written sales, driven by ongoing strategic initiatives and investments in digital marketing and user experience.
Key Highlights
- Diluted EPS increased to $0.24 in Q2 2026 from $0.22 in Q2 2025.
- Consolidated net sales decreased 0.7% to $83.8 million in Q2 2026.
- Operating income was $2.2 million (2.7% of sales), compared to $2.5 million (3.0% of sales) in Q2 2025.
- Gross margin improved by 90 basis points to 56.5% in Q2 2026.
- SG&A expenses, adjusted for a prior year gain, improved by 20 basis points.
- Generated $7.4 million in cash from operating activities for the quarter.
- Retail written sales increased 14% during Memorial Day event; e-commerce written sales rose 40%.
- Wholesale orders rose 5.2% for the second quarter.
Price Impact
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