Movers and SHAKERS
Bassett Furniture (BSET)
The Start of Industry Consolidation?
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.
Herman Miller + Knoll. Yesterday, Herman Miller announced an agreement to acquire competitor Knoll Inc. in a $1.8 billion transaction. The deal brings together two leading office furniture manufacturers, although both also sell into the consumer space. Interestingly, management spoke at length detailing how the merger will enable the combined entity to benefit from the transformation of home and office work and such ongoing trends as industry transformation into direct-to-consumer, e-commerce, and advanced manufacturing.
A Harbinger? Could yesterday's announcement be a harbinger of additional industry consolidation? Given their focus on the office space, we believe the flow over to the retail space where Bassett competes will be muted, but we would acknowledge there remains significant opportunity for consolidation on the consumer side given the low percentage of the market held by the top 10 retailers and ...
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