Bassett Furniture (BSET) Fiscal Q3 2026 Earnings Call: Revenue and Margins Improve
Source Tradingkey
Key Takeaways
- Fiscal Q3 2026 consolidated revenue increased 3.4% year over year to $82.8 million, supported by growth in retail and wholesale operations.
- Operating income rose to $2.8 million, or 3.4% of sales, from $593,000, or 0.7% of sales. Diluted EPS increased to $0.24 from $0.09.
- Consolidated gross margin expanded 130 basis points to 57.5%. The company recognized $1 million of tariff refund income in gross profit, while improved wholesale margins also contributed.
- Retail net sales increased 4.5% to $54.2 million, while written retail sales rose 4.4%. Wholesale net sales advanced 5.7% to $53.7 million, with total Lane Venture shipments up 44%.
- E-commerce written sales increased 48%, website delivered sales rose more than 42%, and online average order value grew 33%.
- Bassett ended the quarter with $53.4 million in cash and short-term investments after generating $6.1 million of operating cash flow.
Core Financial Data
| Metric | Fiscal Q3 2026 | Year-over-year change / context |
|---|---|---|
| Consolidated revenue | $82.8 million | Up 3.4% |
| Consolidated gross margin | 57.5% | Up 130 basis points |
| SG&A excluding store pre-opening costs | 53.9% of sales | Down 150 basis points |
| Operating income | $2.8 million | Up from $593,000 |
| Operating margin | 3.4% | Up from 0.7% |
| Diluted EPS | $0.24 | Up from $0.09 |
| Wholesale net sales | $53.7 million | Up 5.7% |
| Retail net sales | $54.2 million | Up 4.5% |
| Retail gross margin | 51.5% | Down 90 basis points |
| Operating cash flow | $6.1 million | Quarterly total |
| Capital expenditures | $4.3 million | Primarily Orlando store and High Point showroom |
| Cash and short-term investments | $53.4 million | Quarter-end liquidity |
Business and Operating Performance
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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