Club seating

Bassett Announces Fiscal First Quarter Results

Retrieved on: 
Wednesday, April 3, 2024
Attention, Environment, Memorial, Climate, Wholesaling, BDC, Holiday, Housing, Suez Canal, Design studio, MLK, Club seating, Corporation, Weather, Interior design

As we once again compared to the inflated sales of the pandemic period, our consolidated sales dropped by 19.6% (14 weeks vs. 13 weeks) in the first quarter of fiscal 2024 compared to the first quarter of 2023.

Key Points: 
  • As we once again compared to the inflated sales of the pandemic period, our consolidated sales dropped by 19.6% (14 weeks vs. 13 weeks) in the first quarter of fiscal 2024 compared to the first quarter of 2023.
  • 80% of the products that invoiced in the quarter were manufactured in the U.S. and were shipped from a domestic facility.
  • Approximately 60% of wholesale revenue was derived from the combination of our corporate and licensed Bassett Home Furnishings retail stores.
  • In an effort to expand the reach of our dedicated distribution universe, Bassett introduced the new Bassett Design Studio concept in January.

Bassett Announces Fiscal Fourth Quarter Results

Retrieved on: 
Thursday, January 25, 2024
Corporation, Noa, Consultant, Element, Environment, Optimism, GAAP, Club seating, Wholesaling, Retail

The comparison to last year’s pandemic-fueled results plagued us again in our fourth quarter as consolidated sales fell by 21.7% resulting in considerably reduced operating results.

Key Points: 
  • The comparison to last year’s pandemic-fueled results plagued us again in our fourth quarter as consolidated sales fell by 21.7% resulting in considerably reduced operating results.
  • Due to a noncash goodwill impairment charge discussed below, we recorded a loss for the quarter.
  • Excluding the charge, the GAAP reported earnings per share of ($0.47) would have been $0.15 as compared to $0.61 in the fourth quarter of 2022.
  • We ended the quarter and the year with $36.0 million of wholesale inventory, a 38.7% reduction compared to year end 2022.

Aramark Sports + Entertainment Unveils New Food and Beverage Programs at Seven NBA and NHL Venues for 2023-24 Arena Season

Retrieved on: 
Thursday, October 12, 2023
Basketball, Women, Sports, General Sports, Hockey, Men, Family, Food, Beverage, Consumer, Retail, Storm, MAKE, Kobe, Washington Wizards, NYSE, The Sharks (film), Capital One Arena, Rest, Lettuce, DC, Canadian Tire Centre, SAP Center, PPG, NBA, National Hockey League, Section 108 Study Group, Wells Fargo Center, Chipotle, Onion, Section 116 of the Constitution of Australia, Energy drink, Cadillac, Belgrade Rugby Club Red Star, SAP, Shania Twain, Mushroom, Tablet, National Basketball Association, Modelo, Rocket Mortgage, GYRO, Eye, PPG Paints Arena, PPG Industries, Collection, Shark, Line, Cherry, Wine, Aramark, House, Michelada, Restaurant, Club seating, Halal, Travel, Section 115 Reform Act of 2006, Frost Bank, NHL, Sport, Baking, Fast food, Beer, Liquor, Nightclub, Zippin Pippin, Cheese, Spur

(Location: Club 104)

Key Points: 
  • (Location: Club 104)
    Carbonara Mac n' Cheese (Canadian Tire Centre): Macaroni topped with Canadian cheese curds, sharp cheddar, Italian Grana Padano, and pork belly.
  • (Location: Stand 212)
    Texas Smoked Wagyu Stacker (Frost Bank Center): Smoked Wagyu tri-tip on sourdough bread with chipotle crema and jalapeño coleslaw.
  • (Location: Section 115)
    The New Fashioned (Capital One Arena): Ritual Zero Proof® Whiskey Alternative (non-alcoholic) with cherries, bitters, and simple syrup.
  • PPG Paints: PensGear will offer a variety of basics and collectibles for all ages this season with featured brands including YETI®, FrostBuddy.

Bassett Announces Fiscal Third Quarter Results

Retrieved on: 
Thursday, September 28, 2023
Capital expenditure, Catalog, Club seating, Burn, Noa, Element, Wholesaling, Advertising, Corporation, Longevity, Environment, Labour, Retail, Online shopping

We first began to see signs of a slowdown in the third quarter of 2022 and this year’s period represented another 4.6% decline in wholesale orders.

Key Points: 
  • We first began to see signs of a slowdown in the third quarter of 2022 and this year’s period represented another 4.6% decline in wholesale orders.
  • Wholesale margins of 11.2% were comparable to our second quarter margins despite an 8.5% sequential decline in wholesale revenue.
  • Work schedules in our two domestic wood plants improved as the quarter wore on and continued on that path in the first weeks of the current quarter.
  • Our retail results for the quarter constituted the primary basis for the Company’s overall operating loss.

Bassett Announces Certain Preliminary Financial Results for the Fiscal Third Quarter

Retrieved on: 
Wednesday, September 6, 2023
Club seating, Bassett Furniture, Labour, Retail

While wholesale shipments dropped by 27% for the quarter, wholesale orders were only 5% lower than the prior year quarter.

Key Points: 
  • While wholesale shipments dropped by 27% for the quarter, wholesale orders were only 5% lower than the prior year quarter.
  • First, the Company closed one store and a clearance center during the quarter resulting in lower margin clearance sales.
  • The Company should end the year with 90 Bassett Home Furnishings stores of which 58 would be Company-owned and operated.
  • The Company plans to issue a final press release for the third quarter before the market opens on September 28, 2023.

Dow and Albemarle Corporation Recognized for Exceptional Support to Emergency Responders and Corporate Citizenship

Retrieved on: 
Thursday, August 24, 2023
Social responsibility, ACC, American Chemistry Council, Club, Senior, Dow, Club seating, Albemarle Corporation, Emergency, Chemical industry, Corporation, Outreach, Transport, Environment, Safety, Management

As CHEMTREC's first-ever corporate sponsor of the HELP Award, Dow reaffirms its commitment to supporting emergency responders.

Key Points: 
  • As CHEMTREC's first-ever corporate sponsor of the HELP Award, Dow reaffirms its commitment to supporting emergency responders.
  • Sponsoring this $10,000 award showcases Dow's commitment to proactive efforts in safeguarding communities, the environment, and the safety of first responders.
  • "Congratulations to Dow and Albemarle Corporation for their valuable contributions to community safety," said Chris Jahn, ACC president and CEO.
  • "Preparing and training the emergency responder community for hazardous materials incidents helps elevate corporate citizenship, for better prepared, trained, and equipped responders across America."

ICONIC FLORIDA LUXURY RESORT REOPENS TO DEBUT STUNNING TRANSFORMATION

Retrieved on: 
Monday, July 10, 2023
Breakfast, Taste, Partnership, Travel, Ladies and Gentlemen, Life, Club seating, Bungalow, Olive oil, Biting, Signature, Attention, Gulf, Fiend Club Lounge, Moka, Gold, Restaurant, Television, Relaxation, The Ritz-Carlton Hotel Company, Sofra, Element, Hotel, Nightclub

NAPLES, Fla., July 10, 2023 /PRNewswire/ -- The latest chapter of The Ritz-Carlton, Naples' storied history has arrived, as the luxury Florida resort is now open and welcoming its Ladies and Gentlemen, loyal guests, and the Naples community home once again. The legendary beachfront resort has unveiled a dramatic transformation including the addition of the new Vanderbilt Tower, which features an expansive new Ritz-Carlton Club Lounge and more than seventy club-level guestrooms, along with a new resort lobby, and three new dining experiences. The transformed resort also presents new outdoor spaces including new pools, bungalows, and cabanas along with extensive redesigns to all 474 guest rooms and suites. 

Key Points: 
  • "It is an honor to bring this incredible transformation to life at our iconic resort.
  • The stunning redesign coupled with new experiences invites guests to celebrate their memories and create new traditions."
  • The stunning new Lobby Bar is the first taste of the new culinary and cocktail experiences offered by the resort.
  • The revitalized outdoor experience joins the completed transformation of The Ritz-Carlton, Naples Spa, which made its debut in January 2022.

Bassett Announces Fiscal Second Quarter Results

Retrieved on: 
Thursday, June 29, 2023
Newton, Rationalization, Partnership, Table, Marketing, Culture, Club seating, Season, Foot, BDC, Bassett, Absorption, Noa, Sale, Thought, Acquisition, Wholesaling, Memorial, Engineering, Corporation, Growth, Memorial Day, Environment, Labour, High Point Market, Geography, Retail, Online shopping, Video game

While our operating results were challenged by industry-wide soft demand, we successfully managed our balance sheet and maintained profitability during the second quarter.

Key Points: 
  • While our operating results were challenged by industry-wide soft demand, we successfully managed our balance sheet and maintained profitability during the second quarter.
  • Continuing the trend that was discussed at the end of the first quarter, manufacturing headcounts are now 20% below last year’s levels.
  • Retail results were significantly behind last year’s record quarter but remained profitable.
  • In May, we debuted the Bassett Outdoor contract line at the HD Expo Show in Las Vegas targeting the hospitality segment.

THE RITZ-CARLTON, NAPLES REOPENS ON JULY 6TH WITH NEW, ELEVATED ACCOMMODATIONS AND EXPANDED CULINARY EXPERIENCES

Retrieved on: 
Tuesday, May 9, 2023
Sofra, Partnership, Ladies and Gentlemen, Gentleman, Club seating, Bungalow, Signature, Foodie, Moka, Grill, Restaurant, Gulf of Mexico, Lady, Royal Suite (TV series), Bursera simaruba, Relaxation, The Ritz-Carlton Hotel Company, Television, Hotel

NAPLES, Fla., May 9, 2023 /PRNewswire/ -- The Ritz-Carlton, Naples reopens on July 6th, 2023, following an extensive renovation and expansion begun in 2021 that elevates the iconic resort's guest experience to new heights. The legendary resort on Florida's Gulf Coast will debut the Vanderbilt Tower which features an expansive new Ritz-Carlton Club Lounge and more than seventy club-level guestrooms, along with a new resort lobby, and three new dining experiences.  The reconfigured resort presents re-imagined outdoor spaces including new pools, bungalows, and cabanas along with extensive redesigns to all the resort's 474 guest rooms and suites. 

Key Points: 
  • "Our goal was to create an even more exceptional guest experience, and we are confident that our new additions will exceed expectations."
  • As part of the reopening, The Ritz-Carlton, Naples anticipates that 80% of its hourly Ladies and Gentlemen and more than 95% of the management team will return.
  • In addition, the resort is hiring more than 300 Ladies and Gentlemen in support of both The Ritz-Carlton, Naples and The Ritz-Carlton, Naples Tiburon.
  • The newly designed arrival experience of The Ritz-Carlton, Naples features and ornate lobby bar inspired by decades of celebrations.

Bassett Announces Fiscal First Quarter Results

Retrieved on: 
Thursday, March 30, 2023
Omnichannel, Employment, Marketing, Club seating, Consumer, Absorption, Wholesale and Retail (constituency), Investment, Wholesaling, Corporation, Growth, Weather, Environment, Retail

Wholesale sales were 16% behind last year but 7.5% ahead of the last corresponding pre-pandemic quarter.

Key Points: 
  • Wholesale sales were 16% behind last year but 7.5% ahead of the last corresponding pre-pandemic quarter.
  • The corresponding effect resulted in a 250 basis point blow to overall operating margins for the quarter versus last year.
  • The bottom-line effects of the price reduction lessened somewhat as the period unfolded but will represent a hindrance to operating results until sometime in the third quarter at current sales levels.
  • While year over year retail delivered sales increased by 1.4% for the quarter, retail operating profit fell to $1.5 million.