Bassett Furniture Industries Soars 10.54% on Strong Q2 Earnings

Bassett Furniture Industries' stock surged 10.54% in pre-market trading on July 10, 2025, driven by strong second-quarter financial results.

Bassett Furniture Industries reported a net income of $1.92 million, or $0.22 per share, for the second quarter ended May 31, 2025, compared to a loss of $7.20 million, or $0.82 per share, in the same period last year. The company's revenue increased by 1.1% year-over-year, with a more significant 2.5% rise when excluding sales from the now-closed Noa Home Inc. The operating income for the quarter was $2.5 million, a substantial improvement from an operating loss of $8.5 million in the previous year. This turnaround was attributed to effective cost management and operational improvements, as well as a 310 basis point increase in gross margins to 55.6%.

CEO Robert H. Spilman, Jr. highlighted the company's focus on operational efficiency and product launches, which have helped Bassett Furniture Industries navigate ongoing market challenges. Despite a historically weak housing market, the company's strategic initiatives have positioned it well to serve both wholesale and retail markets in the second half of fiscal 2025.

Institutional investors have shown varied interest in Bassett Furniture Industries. Some have increased their holdings, such as TRUFFLE HOUND CAPITAL, LLC and MILLENNIUM MANAGEMENT LLC, while others have decreased their positions, including ARISTIDES CAPITAL LLC and LSV ASSET MANAGEMENT. This mixed sentiment reflects the company's efforts to improve its financial performance and operational efficiency.