Bassett Furniture rises after quarterly results

Bassett Furniture Industries

04/04/2019 16:15

** Shares of Bassett Furniture Industries Inc  BSET.O  rising
3.6% on Thurs after home furnishings retailer reported qtrly
results  urn:newsml:reuters.com:*:nGNX2mpsGz
    ** Co reported rev of $120.8 mln vs analyst estimate of
$117.1 mln. Diluted EPS of $0.06 below estimate of $0.08 from
the single analyst who covers co, according to IBES data from
Refinitiv
    ** Co noted reduced margins from preparation for custom
upholstery program launch as well as exit from juvenile
furniture business
    ** Operating income included a $0.8 mln charge from early
retirement program and $0.4 mln charge from exit of juvenile
furniture business. Excluding those charges, co said it would
have recorded $0.14 in earnings per diluted share
    ** YTD BSET down 13.9% vs ~18% gain for S&P Composite 1500
Home Furnishings index  .SPCOMFURN 

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