Bassett Furniture Industries (NASDAQ:BSET) reported fiscal second-quarter 2026 revenue of $83.8 million, down slightly by $500,000 (0.7%) compared to the previous year. Despite this decline, the company’s adjusted operating profit improved, with retail written sales rising 9.5% and wholesale orders increasing by 5.2%. The quarter ended on May 30.
Chairman and CEO Rob Spilman noted a strong Memorial Day promotion, leading to a 14% surge in written sales. Gross margin increased to 56.5%, while diluted earnings per share rose to $0.24 from $0.22. The company anticipates a capital expenditure rise to $10 million–$12 million for fiscal 2026, up from $4.5 million last year, supported by new store openings and showroom improvements.
As of the end of the quarter, Bassett held $53.9 million in cash and short-term investments and generated $7.4 million in operating cash flow. The company aims to reduce annual expenses by $1.5 million to $2 million while focusing on enhancing retail gross margins by 200 to 250 basis points in mid-July.
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