Bassett Furniture Industries Inc. (BSET) posted a first-quarter net income of $1.0 million or $0.09 per share compared to a net loss of $0.6 million or $0.05 per share in the first quarter of 2012.
Operating income increased to $2.4 million from $0.2 million driven primarily by higher sales in both the wholesale and retail segments. This was partially offset by higher selling, general and administrative expenses due primarily to the increased number of Company-owned stores, planned higher marketing and advertising costs to drive continued sales growth, and increased health care costs due to higher claim experience.
On a consolidated basis, net sales for the first quarter of 2013 were $79.8 million, an increase of $18.9 million, or 31%, over the first quarter of 2012.On an average weekly basis, consolidated net sales increased 22%.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.