Bassett Furniture News Release - Seite 2

“While it is impossible to predict the rate at which sales will return to anywhere near ‘normal’ levels, we have seen incoming wholesale orders improve in each of the past four weeks,” observed Spilman. “Meanwhile, we have taken the eight weeks of disruption to our routine to introspectively examine many facets of our business including the levels of the raw material inventory, total product line skus, architecture of our custom furniture programs, and user experience on our website. While we remain committed to our signature custom capabilities, we acknowledge that this form of selling becomes compromised when our fleet of brick and mortar retail stores is forced to close. Furthermore, we believe that the omnipresent migration to digital commerce accelerated during this highly unusual period of ‘stay at home’ behavior. We are therefore working to streamline our custom offerings and the manner in which they are presented on the web with the intention of generating more e-commerce and store sales alike.  In this regard, we are striving to turn the unfortunate elements of today’s announcement into the foundation of a leaner, more nimble, reinvented Bassett of the future.”

About Bassett Furniture Industries, Inc.
Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading manufacturer and marketer of high quality home furnishings. With 100 company- and licensee-owned stores at the time of this release, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. Bassett’s retail strategy includes stylish, custom-built furniture that is ready for delivery in the home within 30 days. The stores also feature the latest on-trend furniture styles, free in-home design visits, and coordinated decorating accessories. Bassett also has a traditional wholesale business with more than 700 accounts on the open market, across the United States and internationally and a logistics business specializing in home furnishings.  For more information, visit the Company’s website at bassettfurniture.com. (BSET-E)