Bassett Furniture Industries (BSET) investor relations material

Revenue growth strategies

• Focus on increasing sales in existing corporate and licensee stores, leveraging a 124-year-old brand and recent product introductions, including whole home collections and the HideAway dining program.

• Upholstery, representing 75% of sales, is driven by the True Custom program, offering extensive customization and quick delivery within 30-45 days.

• Outdoor furniture branding consolidated under Lane Venture for stronger recognition and expanded offerings.

• Emphasis on leveraging fixed occupancy costs by increasing store productivity.

Store expansion and capital investment

• Acquiring licensee stores as succession opportunities arise, with recent activity in Philadelphia and expectations for more.

• Opening two new corporate stores in Cincinnati and Orlando, with significant capital expenditures planned for these and a Long Island store relocation.

• Targeting a long-term cadence of two to three new stores per year, though not expected next year.

E-commerce and omni-channel development

• Shifted from a marketing-focused website to an aggressive e-commerce approach, launching a new platform in 2023.

• E-commerce sales up 25% last quarter, with nationwide delivery now available in the 48 contiguous states.

• Pursuing a seamless omni-channel model to integrate online and in-store experiences.