BSET - Bassett Furniture (BSET) - Bests 2Q22 Consensus But What About Going Forward?

2Q22 Results. Revenue for the fiscal second quarter ended May 28th was $128.7 million, up 17.0% over the prior year period and up from $117.1 million in the fiscal first quarter. Wholesale revenue rose 15.3% to $87.5 million, while Retail revenue rose 21.0% to $75.6 million. Bassett reported net income from continuing operations of $7.7 million, or $0.81 per share, compared to net income from continuing operations of $5.1 million, or $0.51 per share, in the prior year. We had forecast revenue of $116 million and EPS from continuing operations of $0.46.Record Retail. The second quarter was an all-time record sales and profitability performance for the Retail segment. Basset continues to refine it's store network and the move to open regional fulfillment centers should expand the addressable market as consumers seeking an "immediate" option will now be able to shop Bassett. Read More >>