{"id":3117,"date":"2014-01-22T10:26:34","date_gmt":"2014-01-22T04:56:34","guid":{"rendered":"http:\/\/indonesia-furniture.com\/news\/2014\/01\/22\/bassett-furniture-4q-profit-plunges\/"},"modified":"2014-01-22T10:26:34","modified_gmt":"2014-01-22T04:56:34","slug":"bassett-furniture-4q-profit-plunges","status":"publish","type":"post","link":"https:\/\/indonesia-furniture.com\/articles\/bassett-furniture-4q-profit-plunges\/","title":{"rendered":"Bassett Furniture 4Q Profit Plunges"},"content":{"rendered":"<p>Bassett Furniture 4Q Profit Falls 83 Percent on Softer Sales, Retail Market<br \/>\n                        <!--adsense--><br \/>\n\t\t <!--more--><br \/>\nBASSETT, Va. (AP) &#8212; Furniture maker Bassett Furniture Industries Inc. said Friday its fourth-quarter profit plunged 83 percent, hurt by falling sales amid a soft housing market.<\/p>\n<p>Quarterly net income fell to $359,000, or 3 cents per share, from $2.1 million, or 18 cents per share, in the prior-year period. Sales slipped to $76.5 million from $88.6 million.<\/p>\n<p>ADVERTISEMENT<br \/>\nFor the full year, earnings dropped to $5.4 million, or 46 cents per share, from $9.8 million, or 82 cents per share, in the prior year. Sales slipped to $328.2 million from $335.2 million.<\/p>\n<p>&#8220;The fourth quarter was tough for our industry and Bassett was no exception,&#8221; President and Chief Executive Robert H. Spilman Jr. said in a statement.<\/p>\n<p>Spilman said the company is preparing to unveil a new store prototype later this year in hopes of boosting the fortunes of its retail operations. Bassett Furniture&#8217;s retail segment reported an operating loss of $3.4 million during the quarter, compared with a prior-year loss of $1.6 million, hurt by soft retail conditions, selling of products at clearance prices and other factors.<\/p>\n<p>Bassett Furniture shares rose a penny to close at $16.39 on the Nasdaq.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bassett Furniture 4Q Profit Falls 83 Percent on Softer Sales, Retail Market<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-3117","post","type-post","status-publish","format-standard","hentry","category-furniture-world-news"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/3117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/comments?post=3117"}],"version-history":[{"count":0,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/posts\/3117\/revisions"}],"wp:attachment":[{"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/media?parent=3117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/categories?post=3117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/indonesia-furniture.com\/articles\/wp-json\/wp\/v2\/tags?post=3117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}