{"schema_version":"secwatch.filing_event.v1","accession":"0001437749-26-010906","form_type":"8-K","ticker":"BSET","cik":"0000010329","company_name":"BASSETT FURNITURE INDUSTRIES INC","filed_at":"2026-04-01T23:59:59+00:00","discovered_at":"2026-05-14T18:02:31.834737+00:00","generated_at":"2026-05-15T07:55:32.571678+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Bassett Q1 revenue falls 2.2% to $80.3M; EPS drops to $0.13 from $0.21","bullets":["Operating income $1.2M vs $2.5M prior year; gross margin 56.2%, down 80 bps.","Retail margins hit by absorbing tariffs on Q4 2025 orders delivered in Q1; pricing now includes tariffs.","Used $5.5M cash in operations; e-commerce sales up 28%.","New Cincinnati store under construction; Orlando store work begins April 2026.","Cost savings initiatives expected to save $1.5-$2.0M annually starting late Q2."],"urls":{"canonical":"https://secwatch.observer/filing/0001437749-26-010906","json":"https://secwatch.observer/filing/0001437749-26-010906.json","markdown":"https://secwatch.observer/filing/0001437749-26-010906.md","text":"https://secwatch.observer/filing/0001437749-26-010906.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/10329/000143774926010906/0001437749-26-010906-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/10329/000143774926010906/bset20260401_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T07:55:32.571678+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"125a1fd458560d35df2b74ce078926683ef6e6d0","claim":"BASSETT FURNITURE INDUSTRIES INC reported first quarter ended February 28, 2026 results: revenue $ 80.3, EPS $0.13.","evidence_excerpt":"income was $1.2 million or 1.4% of sales as compared to operating income of $2.5 million or 3.0% of sales for the prior year quarter. ● Gross margin of 56.2% represented an 80-basis point decrease from the prior year due to lower margins in both the wholesale and retail business. ● Selling, general and administrative expenses excluding new store","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/10329/000143774926010906/0001437749-26-010906-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended February 28, 2026"},{"label":"Revenue","value":"$ 80.3"},{"label":"EPS","value":"$0.13"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}