ETD - Bassett Furniture: Caution Is Required Ahead Of Q2 Results
2024-07-03 09:56:06 ET
Summary
- Bassett Furniture Industries, Incorporated has continued reporting soft financials as industry weakness continues, pushing operating income into negative territory.
- Bassett's retail distribution updates, cost initiatives, and elevated gross margins should eventually improve margins with a macroeconomic recovery.
- The company looks to report Q2 results soon, and while Wall Street analysts estimate slight sequential growth, I believe that higher caution is required as the industry echoes continued weakness.
- Bassett Furniture stock has a balanced risk-to-reward ahead of Q2, as the estimated slight undervaluation could be undermined by continued weakness.
Bassett Furniture Industries, Incorporated ( BSET ), the furnishings manufacturer and retailer, has continued reporting weak earnings as demand for furniture has remained low in the current macroeconomic environment. The company is looking to report its Q2/FY2024 results on the 10 th of July after market close. Wall Street analysts are expecting a slight sequential revenue improvement, but as the industry's uncertainty persists, I believe that caution is required....
Bassett Furniture: Caution Is Required Ahead Of Q2 Results