Bassett Furniture Industries BSET Q3 2026 earnings

“"We are pleased to report a 3.4% increase in consolidated revenue bolstered by increases in both retail and wholesale sales. Operating profit showed nice improvement thanks to sales increases in key product categories, improved expense control, and tariff refunds that offset tariff costs that were embedded in our balance sheet. SG&A expenses as a percentage of sales, excluding new store pre-opening costs associated with the Orlando store planned to open this week, decreased 150 basis points. Written retail sales increased 4.4%, continuing the positive momentum from the second quarter in spite of one less week of the Labor Day promotion in the quarter compared to last year. We were especially pleased that for the full four-week Labor Day promotion, written sales increased 9% over last year, which kicked off a good start to the fourth quarter. Wholesale orders were up nicely, showing a 7.9% increase. All wholesale channels showed a sales increase, with the Lane Venture brand up almost 29%. Our marketing team continues to optimize various activities to improve the omni-channel experience.”