Bassett Furniture Q1 revenue falls on weak housing market

Bassett Furniture Industries

01/04/2026 21:11

Overview

U.S. home furnishings maker's fiscal Q1 revenue fell 2.2% yr/yr

Diluted EPS for fiscal Q1 dropped to $0.13 from $0.21 yr/yr

Company cites weak housing market and severe weather as factors impacting sales

Outlook

Company expects cost-saving initiatives to yield $1.5 mln to $2.0 mln annually starting late Q2

Company says retail and wholesale pricing now includes tariffs from Q2 onward

Result Drivers

HOUSING MARKET WEAKNESS - Co said demand continued to suffer from a weak residential housing market

SEVERE WEATHER - Severe weather in late January disrupted operations at many retail stores and warehouses, hurting sales

TARIFFS IMPACT - Retail margins were affected by the decision to absorb tariffs in retail pricing during Q4, with costs delivered in Q1

Company press release: ID:nGNX70LP01

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
$80.3 mln
$83.96 mln (2 Analysts)
Q1 EPS
$0.13
Q1 Net Income
$1.12 mln
Q1 Gross Profit
$45.17 mln


Analyst Coverage

Wall Street's median 12-month price target for Bassett Furniture Industries Inc is $21.00, about 48.4% above its March 31 closing price of $14.15

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)