---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-025258"
form_type: "8-K"
ticker: "BSET"
cik: "0000010329"
company_name: "BASSETT FURNITURE INDUSTRIES INC"
filed_at: "2023-09-06T23:59:59+00:00"
generated_at: "2026-06-10T23:12:16.978456+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bassett Furniture Q3 preliminary net sales ~$87M, down 26% YoY; expects operating loss

## Summary
- Consolidated net sales ~$87M, 26% lower than Q3 2022.
- Expects to report operating and net loss for the quarter; wholesale shipments down 27% but orders only down 5%.
- Positive operating cash flow; cash and short-term investments exceed $65M.
- Board increased quarterly dividend by 12.5% during the quarter.
- Closed one store and clearance center; Austin store remodeled; new Tampa store planned mid-October.

## SEC filing metadata
- accession: 0001437749-23-025258
- form_type: 8-K
- ticker: BSET
- cik: 0000010329
- company_name: BASSETT FURNITURE INDUSTRIES INC
- filed_at: 2023-09-06T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/10329/000143774923025258/0001437749-23-025258-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/10329/000143774923025258/bset20230905_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-025258
- JSON: https://secwatch.observer/filing/0001437749-23-025258.json
- Plain text: https://secwatch.observer/filing/0001437749-23-025258.txt

## Key facts
- Earnings Releases
  BASSETT FURNITURE INDUSTRIES INC reported the quarter ended August 26, 2023 results: revenue approximately $87 million, net income expects to report an operating and net loss for the quarter.
  - Period: the quarter ended August 26, 2023
  - Revenue: approximately $87 million
  - Net income: expects to report an operating and net loss for the quarter
  - Result: preliminary results
  source text: Va.) – September 6, 2023 – Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that consolidated net sales for the quarter ended August 26, 2023 were approximately $87 million or 26% lower than the corresponding period in 2022, and that as a result, it expects to report an operating and net loss for the quarter. While wholesale shipments dropped by 27%
  evidence_url: https://www.sec.gov/Archives/edgar/data/10329/000143774923025258/0001437749-23-025258-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.