Water Tower Research Publishes Initiation of Coverage Report on Bassett Furniture Industries, Inc. “Initiating Coverage of Bassett Furniture Industries, Inc.: A Survivor Pursuing Success”

February 20, 2024, ST. PETERSBURG, FL – Water Tower Research (www.watertowerresearch.com) has published an Initiation of Coverage Report on Bassett Furniture Industries, Inc. (NASDAQ: BSET) titled, “Initiating Coverage of Bassett Furniture Industries, Inc.: A Survivor Pursuing Success”. The report can be accessed here.

Bassett Furniture Industries, Inc., headquartered in the town of Bassett in Henry County, Virginia, was founded in 1902 to manufacture wood furniture. Today, it manufactures, sources, and markets a variety of wood and upholstered furniture.

In the 1990s, Bassett initiated a company-branded retail strategy. Today, its 57 company-owned and 31 independently-owned stores place the Bassett Home Furnishings Stores network as one of the 100 largest furniture retailers, according to the trade publication Furniture Today.

Since its beginning, Bassett has been and remains financially conservative. In an industry that experienced massive change over decades and where many previously considered stalwart competitors disappeared (e.g., Broyhill, Thomasville, Kroehler, Klaussner, Mitchell Gold, to name only a few – some old and some recent), Bassett still exists and is, arguably, at the headwaters of a better future.

Bassett’s equity trades at a discount to its peers measured on price/sales or price/book. The company publishes GAAP earnings and has historically not adjusted for one-time events and non-operating gains and losses. As a result, valuation on earnings are difficult to compare with peers.

About Water Tower Research 

Water Tower Research is modernizing Investor Relations through research-driven communications and Investor Engagement. Sound investment research begins with good information. At WTR, we help companies and investors connect by creating expert information flow and strategies that are the foundation of a successful modern investor relations platform. Our analysts and capital markets professionals bring decades of unrivaled Wall Street experience and insight to a new digital world of investor communications and engagement. Our research and investor content is distributed across traditional research aggregators like Bloomberg, FactSet, etc., proprietary direct distribution lists, social media, search engines, and our website. As a result, every institutional and retail investor has equal access to our high-quality company research. Our mission is to help companies take control of their IR program and proactively reach investors while bringing investors a consistent flow of quality information to help them understand our clients’ businesses, industries, and the investment opportunities they present.

Tags: design centers, distribution centers, galleries, Home Furnishings, Upholstery, wholesale