Bassett Furniture Industries Inc Q1 2026 Earnings Call Highlights: Navigating Challenges

Bassett Furniture Industries Inc reported Q1 2026 consolidated revenue of $80.3 million, down 2.2% YoY. Gross margin decreased to 56.2%, while operating income fell to $1.2 million, or 1.4% of sales. Retail store net sales decreased by 1.4%, and wholesale net sales were essentially flat. SG&A expenses rose to 54.7% of sales, and cash and short-term investments stood at $51 million. The company expects capital expenditures of $8-$12 million for 2026.