Extract
Bassett Announces Second Quarter 2004 Earnings.
BASSETT, Va. -- Bassett Furniture Industries Inc. (Nasdaq: BSET) announced today its earnings for its second fiscal quarter ended May 29, 2004.
Sales for the second quarter of 2004 were $80.4 million, up 4.5% from second quarter 2003 levels. The growth in the Company's ongoing distribution channels, fueled by increased shipments to Bassett Furniture Direct stores (BFDs) and greater demand for juvenile products, accounted for the sales increase. Year-to-date shipments into the BFD channel were up 11% over 2003. The Bassett Furniture Direct retail store program continues to grow with 104 stores currently in operation. The Company expects licensees to open six stores in the third quarter and eight in the fourth quarter ending fiscal...See the full content of this document
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