---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-002123"
form_type: "8-K"
ticker: "BSET"
cik: "0000010329"
company_name: "BASSETT FURNITURE INDUSTRIES INC"
filed_at: "2024-01-25T23:59:59+00:00"
generated_at: "2026-06-06T17:17:53.486510+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Bassett Furniture Q4 FY2023 sales down 21.7% to $94.7M; net loss $0.47 per share includes $5.4M goodwill impairment

## Summary
- Consolidated sales $94.7M, down 21.7% YoY; operating loss $4.5M vs profit $6.7M last year.
- GAAP EPS ($0.47) includes non-cash goodwill impairment of $5.4M from Noa Home; adjusted EPS $0.15 vs $0.61.
- Ended quarter with $70.2M cash and no debt; generated $8.4M operating cash flow.
- Board declared regular quarterly dividend of $0.18 per share, payable March 1, 2024.
- Plans to exit Australian e-commerce market to focus on North America; expects wholesale inventory destocking to provide opportunities.

## SEC filing metadata
- accession: 0001437749-24-002123
- form_type: 8-K
- ticker: BSET
- cik: 0000010329
- company_name: BASSETT FURNITURE INDUSTRIES INC
- filed_at: 2024-01-25T23:59:59+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/10329/000143774924002123/0001437749-24-002123-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/10329/000143774924002123/bset20240124_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-002123
- JSON: https://secwatch.observer/filing/0001437749-24-002123.json
- Plain text: https://secwatch.observer/filing/0001437749-24-002123.txt

## Key facts
- Earnings Releases
  BASSETT FURNITURE INDUSTRIES INC reported fourth quarter ended November 25, 2023 results: revenue $ 94.7, EPS ($0.47).
  - Period: fourth quarter ended November 25, 2023
  - Revenue: $ 94.7
  - EPS: ($0.47)
  - Result: reported results
  source text: Quarter Highlights (Dollars in millions) Sales Operating Income (Loss) 4th Qtr Dollar % 4th Qtr % of 4th Qtr % of 2023 2022 Change Change 2023 Sales 2022 Sales Consolidated (1) $ 94.7 $ 121.0 $ (26.3 ) -21.7 % $ (4.5 ) -4.8 % $ 6.7 5.5 % Wholesale $ 60.6 $ 74.6 $ (14.0 ) -18.8 % $ 8.4 13.9 % $ 10.3 13.8 % Retail $ 57.9 $ 74.5 $ (16.6 ) -22.3 % $ 0.2 0.3 % $ 5.5
  evidence_url: https://www.sec.gov/Archives/edgar/data/10329/000143774924002123/0001437749-24-002123-index.htm

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