Bassett Furniture reported consolidated fourth-quarter revenues of $88.7 million, a 5.1% increase from $84.3 million in the prior year. Excluding sales from Noa Home Inc., closed late 2024, revenues were up 6.4%. The wholesale segment delivered $56.7 million in sales, up 8.3% year-over-year, while retail sales rose 7.9% to $57.3 million. Corporate and other revenues declined by $1.0 million as Noa Home’s results were no longer consolidated. The revenue mix tilt toward higher-growth wholesale and retail channels reflects strengthening end-market demand and greater penetration of Bassett’s custom design offerings.

Operating income for the quarter was $2.3 million, or 2.6% of sales, compared with $0.9 million (1.1% of sales) a year ago. Excluding a $0.5 million asset impairment charge in the current period, operating income would have been $2.8 million (3.2% of sales). SG&A expenses improved to 53.2% of sales, 60 basis points lower than the prior year due to cost-containment measures and leverage of fixed costs. Diluted earnings per share came in at $0.18, down from $0.38 last year; the prior period included a $2.6 million tax benefit related to a cumulative investment loss in Noa Home, which adjusted prior EPS to $0.08 on a comparable basis.

Bassett generated $7.8 million of operating cash flow in the quarter, strengthening its liquidity position. The company held $41.3 million in cash and cash equivalents and $18.0 million in short-term investments as of November 29, 2025. Inventories stood at $61.8 million, up from $55.0 million a year ago, supporting new product rollouts and the expansion of custom manufacturing capacity. Accounts receivable remained well controlled at $14.4 million, reflecting disciplined credit practices across both wholesale and retail channels.

Management outlined a strategic plan centered on continued cost reduction, operational efficiency and targeted investment in product innovation. Bassett’s wood casegoods sales surged over 50% in the quarter following a two-year reinvention initiative. The company also launched a hospitality division, hiring an industry veteran to pursue country club, senior living and boutique hotel accounts, leveraging domestic quick-turn manufacturing. Bassett expects housing activity to remain subdued in 2026 but aims to gain market share through technology integration, new product programs and its leaner cost structure.