BSET News and Press, Bassett Furniture Industries Incorporated From 05/07/21

Companies Beginning to Benefit from Increased Leisure Spending   Businesses involved in providing leisure and entertainment are starting to benefit from the rebound in Americans getting out and treating themselves. This means many companies that were hardest hit by Read More ...

Strong Operating Environment. The operating environment remains strong. Orders for March 2021 (a five week fiscal month) increased 125% over March 2020 and 52% over March 2019. Shipments for March 2021 increased 59% over March 2020 and 21% over March 2019. Wholesale backlogs ended March 2021 9...

BASSETT, Va., April 26, 2021 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today that it has signed a lease for a 123,000 square foot manufacturing facility in Newton, North Carolina. The Company reported previously in its Form 10-Q for the quarter ended Fe...

Herman Miller yesterday acquired Knoll for $1.8 billion. Knoll's stock was up +35%, whereas Herman Miller was down -9% at the news. Using 16x EV/EBITDA multiple from Herman Miller and Knoll acquisition, we get an implied upside for Kimball of 112%, or an attractive $30 price targe...

Herman Miller + Knoll. Yesterday, Herman Miller announced an agreement to acquire competitor Knoll Inc. in a $1.8 billion transaction. The deal brings together two leading office furniture manufacturers, although both also sell into the consumer space. Interestingly, management spoke at length...

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Strong February quarter results were above our as well as Bloomberg consensus analyst expectations by 67%. EPS of $0.40 was a 5-year high for 1Q. 362% increase YoY in wholesale backlog - a huge jump. The bottlenecks in shipping and freight container costs are near term and on ...

1Q21 Results. Bassett reported strong 1Q21 results with revenue of $113.7 million and EPS of $0.40. This compares to $112.1 million and $0.12, respectively, in 1Q20, which was unaffected by COVID issues. We had projected revenue of $113.5 million and EPS of $0.24 while consensus was at $114 mi...

Bassett Furniture (BSET): Q1 GAAP EPS of $0.40 beats by $0.17.Revenue of $113.67M (+1.4% Y/Y) misses by $0.54M.Press Release For further details see: Bassett Furniture EPS beats by $0.17, misses on revenue

Bassett has 64% further upside; the stock has gone up 100% since our recommendation of the stock in early September 2020. Wholesale orders for the first quarter ended FY02/2021 up 44% YoY, creating a record backlog of orders for the company. It has a huge net cash per share positi...