Bassett Furniture Industries, Incorporated (BSET) Earnings
Bassett Furniture Industries, Incorporated is expected to report next earnings on October 14, 2026 (in NaN days), with a consensus EPS estimate of $0.13. BSET has beaten EPS estimates in 6 of its last 12 reported quarters (average surprise -6.7% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 2, 2026 | $0.20 | $0.24 | +20.0% | $84M | +0.3% |
| Apr 2, 2026 | $0.17 | $0.13 | -23.5% | $80M | -4.3% |
| Feb 4, 2026 | $0.30 | $0.23 | -23.3% | $89M | +5.2% |
| Oct 8, 2025 | $0.09 | $0.09 | +0.0% | $80M | -7.8% |
| Jul 9, 2025 | $0.15 | $0.22 | +46.7% | $84M | +2.8% |
| Apr 2, 2025 | $0.02 | $0.21 | +950.0% | $82M | +0.3% |
| Jan 29, 2025 | $-0.04 | $0.38 | +1050.0% | $84M | +1.8% |
| Oct 9, 2024 | $-0.34 | $-0.52 | -52.9% | $76M | -9.3% |
| Jul 10, 2024 | $-0.12 | $-0.19 | -58.3% | $83M | -9.7% |
| Apr 3, 2024 | $-0.00 | $-0.14 | -2897.9% | $87M | -4.8% |
| Jan 25, 2024 | $-0.06 | $0.15 | +350.0% | $95M | +4.5% |
| Jan 24, 2023 | $0.38 | $0.55 | +44.7% | $121M | +8.4% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q2 FY2026 · July 2, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Sales and Demand Trends * Positive sales momentum continued through April, May, and into June 2026; the Memorial Day promotion delivered 14% higher written sales and 4% higher traffic YoY * Wholesale orders grew 5.2% YoY, while shipments fell 2% due to backlogged new written sales * Web sales grew 40% YoY, marking seven of the last eight quarters with growth exceeding 20%; average web order value rose 24%
Guidance
- Capital expenditures for full fiscal 2026 are projected to be between $10 million and $12 million, a substantial increase from the $4.5 million spent in 2025, driven by new store openings and the new High Point showroom construction. - Management is targeting an additional $1.5 to $2 million in annualized expense reductions, with full impacts expected to appear in Q3 and Q4 fiscal 2026. - The planned 200 to 250 basis point retail price increase will mostly impact consolidated gross margins starting in Q4 fiscal 2026, with minimal impact in Q3. - A new corporate store in Orlando is scheduled to open in early October 2026, and a relocated store in Belleville (Long Island, NY) is planned for 2027, following the closure of the existing Garden City location.
Segment performance
Consolidated total revenue for Q2 fiscal 2026 was $83.8 million, a 0.7% decrease ($500,000) year-over-year (YoY). 1. Wholesale Segment: Net sales totaled $53.1 million, a 2% decrease YoY. The decline was driven by a 5.5% drop in open market shipments, partially offset by an 18% increase in Lane Venture outdoor brand shipments and a 0.8% increase in shipments to company-owned retail stores. Gross margin increased 110 basis points YoY, driven by improved domestic manufacturing efficiency and better pricing for imported wood products. SG&A as a percentage of sales rose 90 basis points YoY due to higher outbound freight and fuel costs. Wholesale contributed 63.36% of total consolidated revenue. 2. Retail Segment (company-owned stores): Net sales totaled $30.7 million (note: the original transcript mentions a $1.3 million or 2.4% YoY increase, consistent with this revenue figure), a 2.4% YoY increase. Written sales (undelivered sales orders) grew 9.5% YoY. Gross margin was 51.2%, a 120 basis point decline YoY, caused by aggressive pricing of clearance inventory and delayed full impact of a mid-January price increase. Excluding new store pre-opening costs and 2025 business interruption insurance proceeds, SG&A as a percentage of sales decreased 150 basis points YoY, driven by lower insurance costs and improved operational efficiency. Retail contributed 36.64% of total consolidated revenue.
Risks & headwinds
- Higher fuel costs stemming from the Iranian conflict created unforeseen expenses and pushed SG&A higher than planned. - Retail has a structurally higher SG&A ratio than wholesale, so a continued shift in revenue mix toward retail will keep consolidated SG&A percentages elevated. - New store pre-opening costs (and early operating losses from new store backlog building) create near-term earnings drag for new market entries and relocations. - General macroeconomic demand uncertainty, even with forecasts of modestly improved housing activity in H2 2026, means the company cannot rely on market growth alone to hit performance targets. - The exact magnitude of IEPA tariff refunds remains uncertain, with no definitive confirmation of the total amount the company will receive.
Analyst Q&A
Q: Is the recent positive sales momentum concentrated in core upholstery, or is it broad across all product categories? /
A: Management reports momentum is slightly stronger in upholstery, but sales increases are seen across all product categories. This broad-based growth is considered an encouraging sign for the business overall.
Q: What is driving the recent sales momentum, and how sustainable is this trend? /
A: The growth is attributed to a combination of improved marketing efficiency from a new agency's analytics platform, better customer understanding, updated product introductions, and early integration of AI for personalized outreach. Management expects momentum to continue as the company maintains this strategic track, with early June performance matching the positive April-May trends.
Q: What is driving the higher average ticket that led to 14% sales growth from just 4% traffic growth in the Memorial Day promotion? /
A: The disproportionate sales increase came from a higher number of large design projects during the quarter, including several orders over $100,000 that pushed up the average ticket. Improved conversion rates of existing traffic also contributed to the overall sales gain.
Q: Will consolidated SG&A be lower YoY on a go-forward basis, after the 20 basis point adjusted decrease this quarter? /
A: The $1.5 to $2 million in annualized cost savings will start showing in results in Q3 and Q4. Higher retail revenue mix (which has a structurally higher SG&A) will impact consolidated ratios, but both segments are expected to deliver SG&A leverage, with the mix effect determining overall consolidated performance.