Bassett Furniture Industries' Clocks 16% Sales Growth In Q1

by Shivani Kumaresan, Benzinga Staff Writer

March 31, 2022 11:30 AM | 1 min read |

Bassett Furniture Industries Inc BSET reported first-quarter FY22 sales growth of 15.9% year-on-year, to $117.9 million, beating the consensus of $109.86 million.
Wholesale sales rose 19% to $83.5 million, and Retail sales increased 6.1% to $64.1 million.
Gross profit margin for the quarter contracted by 380 basis points to 48.7%.
Operating margin remained stable at 5.5%, and operating income for the quarter improved to $6.5 million.
The company held $49.6 million in cash and equivalents as of February 26, 2022. Net cash provided by operating activities totaled $2.9 million.
Basic EPS of $0.57 improved from $0.40 last year.
Price Action: BSET shares are trading lower by 0.18% at $16.60 on the last check Thursday.