Bassett Announces Additional Cost Structure Reductions and Updates Progress on Restructuring Plan
Bassett Furniture Industries, Incorporated (BSET)
Last bassett furniture industries, incorporated earnings: 4/2 09:00 am
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US:NASDAQ Investor Relations:
investors.bassettfurniture.com/investor-relations
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Source: GlobeNewswire
BASSETT, Va., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Bassett Furniture Industries, Inc. (Nasdaq: BSET) announced today certain work force reductions designed to both streamline operations and better match the Company’s cost structure to the current rate of business. Through a combination of layoffs and retirements throughout the organization, this workforce reduction will result in approximately $2.5 million in annual savings. Including this action, Bassett has reduced its headcount by 11% over the past year. The Company expects to record an associated $500,000 severance charge in the current quarter. The Company further announced that it continues executing on its five-point restructuring plan announced on July 10, 2024 which is projected to provide between $5.5 million and $6.5 million of annual cost savings. Specifically, those points include: Drive organic growth through Bassett-branded retail locations, omni-channel capabilities, and enhanced customization positioning to expand de
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News
- Bassett Furniture Industries, Incorporated (NASDAQ: BSET) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Bassett Furniture Industries, Incorporated (NASDAQ: BSET) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Seldens Expands Presence in Bellevue: Fourth-Generation Family Business Brings New Bassett® Furniture Showroom to Puget Sound [Yahoo! Finance]Yahoo! Finance
- Bassett Cuts Workforce to Drive Cost Savings & Restructuring Progress [Yahoo! Finance]Yahoo! Finance
- Bassett Furniture Industries, Incorporated (NASDAQ:BSET) is favoured by institutional owners who hold 59% of the company [Yahoo! Finance]Yahoo! Finance
BSET
Earnings
- 10/9/24 - Miss
BSET
Sec Filings
- 11/22/24 - Form 4
- 11/20/24 - Form 8-K
- 10/10/24 - Form 10-Q
- BSET's page on the SEC website