Bassett Furniture Industries Inc. reported fiscal second-quarter earnings of $0.81 per share that exceeded the consensus of $0.45.
Revenue grew + 17% year-on-year to $128.71 million, exceeding the consensus of $117.38 million.
Wholesale sales climbed +15.3% Y/Y, while Retail increased by +21%.
Gross margin fell -70 basis points to 51.2%. However, the operating margin widened from 6.4% in the year-ago period to 8.6% in the quarter. Operating income for the quarter surged +55.4% year-over-year to $11 million.
a retailer of imports home furnishings
Industry HomeFurnishings