Buy A Few Shares And Take A Seat! Bassett Poised To Perform

DLP Investing profile picture
DLP Investing


  • Bassett has a long history of selling quality furniture in North America. While the brand has had its fair share of issues, it is currently trending in the right direction.
  • Bassett has made tough strategic moves over the last 15 years which are finally paying off, as evident in the last few earnings reports.
  • Management is not content to idle and has firm plans to continue low risk, high reward growth.

Over the last 114 years, Bassett Furniture (NASDAQ:NASDAQ:BSET) has built its name and reputation on constructing and selling high quality furniture at a fair price. However, with markets growing increasingly competitive, the Company fell on hard times and was forced to restrategize in the late 1990's to early-to-mid 2000's, culminating in the closure of many of its plants and outsourcing much of its work to utilize Asia's cheaper labor, while domestically, focus was placed on the retail side of the business. The 2009 financial crisis only exacerbated the Company's problems, but management's moves thus far appear to prudent and well-timed. Bassett is well positioned to weather the remainder of the storm and to thrive once the North American economy fully recovers.

Brief History:

Bassett Furniture was founded in 1902 by John David (J.D.) Bassett, Charles C. Bassett, Samuel H. Bassett, and Reed L. Stone, from the left over pieces of a saw mill that the Bassett family had operated to supply rail ties to the Norfolk & Western line that was being built nearby. When construction of the line was complete, the family began looking for a market for their lumber and soon began shipping lumber north to furniture makers, who would then ship the furniture back south to be sold. J.D. recognized the opportunity to cut out the middle man and the family soon began to make furniture in-house. From the Company's history posted on its website:

"Here I was shipping raw lumber from Henry County (Virginia) to Jamestown, New York, and Grand Rapids, Michigan, where factories converted that lumber into finished furniture to be shipped everywhere, including the South," J.D. recalled. "It seemed to me that furniture certainly could be made in Henry County at a tremendous advantage."

The Company began to thrive with sales reaching $1 million in

This article was written by

DLP Investing profile picture
I am a civil engineer and individual investor. I spend a substantial amount of time reading and researching commodities, macro economic trends, and value investing strategies. With my background in the construction industry, I am able to analyze real world information compared to data provided by media outlets. I plan to eventually transition my career towards the financial sector.

Disclosure: I/we have no positions in any stocks mentioned, but may initiate a long position in BSET over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Recommended For You


To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.