---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-010753"
form_type: "8-K"
ticker: "BSET"
cik: "0000010329"
company_name: "BASSETT FURNITURE INDUSTRIES INC"
filed_at: "2024-04-03T23:59:59+00:00"
generated_at: "2026-06-04T02:41:39.907877+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Bassett Furniture Q1 sales down 19.6% to $86.6M, posts net loss of $1.2M

## Summary
- Sales $86.6M, down 19.6% YoY; operating loss of $2.4M vs income $2.7M last year.
- Net loss $1.2M; consolidated gross margin 55.3% all-time high.
- Wholesale revenue down 21.7%, retail down 17.2%; retail operating loss $1.6M.
- Used $7.7M cash in operations; headcount reduced 26% in wholesale, 44% in retail.
- Launched Bassett Design Studio concept with 17 accounts; target 100; no new stores planned.

## SEC filing metadata
- accession: 0001437749-24-010753
- form_type: 8-K
- ticker: BSET
- cik: 0000010329
- company_name: BASSETT FURNITURE INDUSTRIES INC
- filed_at: 2024-04-03T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/10329/000143774924010753/0001437749-24-010753-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/10329/000143774924010753/bset20240402_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-010753
- JSON: https://secwatch.observer/filing/0001437749-24-010753.json
- Plain text: https://secwatch.observer/filing/0001437749-24-010753.txt

## Key facts
- Earnings Releases
  BASSETT FURNITURE INDUSTRIES INC reported financial results for first quarter ended March 2, 2024.
  - Period: first quarter ended March 2, 2024
  - Result: reported results
  source text: Bassett Furniture Industries issued a news release relating to the first quarter financial results for the fiscal year ending November 30, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/10329/000143774924010753/0001437749-24-010753-index.htm

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