Movers and SHAKERS
Bassett Furniture (BSET)
Call With Management On Business Conditions
Bassett Furniture Industries Inc is a manufacturer, importer, and retailer of home furnishings products in the United States. It operates through the following segments: The Wholesale segment focuses on the design, manufacture, sourcing, sale, and distribution of furniture products. The Retail segment consists of company-owned stores. The Logistical Services segment offers shipping, delivery, and warehousing services.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Management Call. We were able to speak with CFO Michael Daniel regarding the Company's recent press release on current business conditions. The biggest challenge, one affecting many industries, is finding labor, and then keeping labor. The lack of labor supply is rippling throughout the organization, increasing cost pressure. Bassett also continues to receive additional cost increases from vendors which will negatively impact wholesale margins for the third quarter and likely will result in a fourth price increase this year.
COVID Rears Again. In addition, the recent resurgence of COVID in Asia has caused some suppliers to temporarily cease operations. The Company sources a significant amount of its bedroom and formal dining room furniture and certain component parts for manufacturing operations from Asia, particularly Vietnam ...
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.