The Latest Breaking News from Bassett Furniture Industries Inc

Bassett Furniture Industries Inc (NASDAQ:BSET) reported first-quarter FY22 sales growth of 15.9% year-on-year, to $117.9 million, beating the consensus of $109.86 million. Wholesale sales rose 19% to $83.5 million, and Retail sales increased 6.1% to $64.1 million. Gross profit margin for the quarter contracted by 380 basis points to 48.7%. Operating margin remained…

Bassett Furniture Industries Inc's (NASDAQ:BSET) Board has increased the company's share repurchase authorization to $40 million. The Board has declared a special dividend of $1.50 per share of common stock, payable on April 6, 2022, to shareholders of record on March 23, 2022. The Board also declared a regular quarterly dividend of $0.14 per…