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Home > Company Index > Consumer Products-Durables  > Home Furnishings > Bassett Furniture Industries, Incorporated

Bassett Furniture Industries, Incorporated
Nasdaq: BSET
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 NEWS FROM THE WIRES
Bassett Furniture says cuts jobs, sees charge
Aug 21 2001 01:10 PM PDT

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 PROFILE
Bassett Furniture Industries tries to get a leg up on competing furniture manufacturers. The company makes dining room and bedroom suites, desks, tables, chairs, sofas, bookcases, and other home furniture. Wood furniture fetches about 70% of sales, with most of the rest from upholstered pieces. Bassett sells its products through department and furniture stores, more than 150 @Home With Bassett in-store boutiques, and nearly 60 licensed Bassett Furniture Direct stores; J.C. Penney is Bassett's largest customer, with 16% of sales. Dogged by years of dismal sales, Bassett has been consolidating some factories and cutting jobs to reduce costs. The company also is increasing its store licenses.

 COMPETITION
Ethan Allen Interiors Inc. (ETH)
Furniture Brands International, Inc. (FBN)
LifeStyle Furnishings International Ltd. (dossier)

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 FINANCIAL OVERVIEW
Fiscal Year-End: November
2000 Sales (mil.): 367.40
1-Yr. Sales Growth: (6.8)%
Employees: 4,100
Revenue per employee: $89,609.76

 KEY PEOPLE
• Robert H. Spilman
    CEO
• Barry C. Safrit
    CFO

 CONTACT INFO
3525 Fairystone Park Hwy.
Bassett, VA 24055
US
Phone: 540-629-6000
Fax: 540-629-6333
Online: Web Site

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