Bassett Furniture Industries Reports Net Income of $2.08 Million for Q2 2023

Bassett Furniture Industries,(BSET) Incorporated and its subsidiaries ha ve released their financial statements for the second quarter of 2023, revealing a net income of $2.08 million. The company's net sales of furniture and accessories for the quarter amounted to $100.5 million, representing a decrease from the previous year's Q2 revenue of $128.7 million. In this article, we delve into the financial performance of Bassett Furniture Industries for the second quarter of 2023.

Net Income/ Loss

Bassett Furniture Industries reported a net income of $2.08 million for the quarter ending on May 27, 2023. This marks a significant decline from the same period in 2022 when the company reported a net income of $47.1 million. The decrease in net income can be attributed to various factors, including changes in sales and expenses.

Revenue