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home / news releases / BSET - Bassett reports 44% Y/Y surge in wholesale orders

BSET - Bassett reports 44% Y/Y surge in wholesale orders

Bassett Furniture Industries Incorporated
Bassett Furniture Industries' ([[BSET]] +7.0%) wholesale orders for the quarter ended Feb. 27, 2021stood at $83M a 44% Y/Y increase.Also, wholesale shipping backlog was $67.5M (+362% Y/Y and +23% over the backlog at Nov. 28, 2020)Bassett is also in lease negotiations for a 123K sq. ft manufacturing facility in Newton, North Carolina to increase its upholstery manufacturing capacity.It seeks to finalize a lease by March-end with manufacturing to commence by June 2021."If negotiations are successful, this will provide us with additional capacity to begin to reduce the above backlog to a more manageable level," chairman & CEO Rob Spilman commented.

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Bassett reports 44% Y/Y surge in wholesale orders
Stock Information
Company Name: Bassett Furniture Industries Incorporated
Stock Symbol: BSET
Market: NASDAQ
Website: bassettfurniture.com
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