Bassett Furniture Beats EPS Views as Revenue Holds Near Flat

Bassett Furniture Industries (NASDAQ:BSET) reported fiscal second-quarter results that topped analyst earnings estimates, with revenue holding nearly flat from a year earlier.

The company posted GAAP earnings per share of $0.24 for the quarter ended May 31. Revenue came in at $83.75 million, down 0.7% from the same period last year.

The furniture maker's earnings beat comes as the broader home-furnishings sector has faced pressure from elevated interest rates and a sluggish housing market. Bassett's ability to keep revenue roughly steady suggests its retail and custom-order model is absorbing some of the demand headwinds that have hit peers harder.

Bassett operates a network of company-owned and licensed stores, along with its corporate-owned manufacturing and logistics operations. The company has been investing in its custom upholstery program and e-commerce capabilities to offset declining foot traffic at traditional furniture retailers.

Shares of Bassett have traded near multiyear lows, reflecting the broader market's skepticism about the furniture industry's near-term outlook. The earnings beat could provide a floor for the stock if the company maintains margin discipline through the rest of the fiscal year.

The company did not provide formal forward guidance in the release. Bassett's next quarterly report will cover the fiscal third quarter ending in late August.