BASSETT FURNITURE LOSES MILLIONS

From: Roanoke Times & World News | Date: April 4, 2007| Author: | Copyright information

New strategies hint at a glimmer of better days ahead.

Yet, as anticipated, bad news dominated this week's Bassett Furniture Industries' report on its performance during the furniture company's first quarter of 2007.

BFI posted a first-quarter loss of $4.2 million, or 35 cents a share, compared with profit of $2.2 million, or 18 cents, in the year- earlier period.

BFI is a manufacturer and importer of furniture and also owns or licenses a chain of Bassett Furniture Direct retail stores.

Sales declined 15 percent, compared with the same period of 2006.

The company-owned stores performed poorly, ...

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