Bassett Furniture Industries, Incorporated (BSET) Q3 2024 Earnings Call Transcript Summary
Bassett Furniture Industries, Incorporated (BSET) Q3 2024 Earnings Call Transcript Summary
Operating loss was reported at $6.4 million, compared to a loss of $3.2 million in Q3 2023.The following is a summary of the Bassett Furniture Industries, Incorporated (BSET) Q3 2024 Earnings Call Transcript:
以下是巴西特傢俱行業公司（BSET）2024年第三季度業績會議呼叫的摘要：
Financial Performance:
金融業績：
Consolidated gross margin for Q3 was 53%, an improvement of 1.4% from the previous year.
Total revenue declined by $11.6 million or 13%, with a 16% decrease in wholesale sales and a 10% decrease in retail sales.
Operating loss was reported at $6.4 million, compared to a loss of $3.2 million in Q3 2023.
Unproductive labor costs due to a cybersecurity incident affected profitability by approximately $609,000.
第三季度的綜合毛利率爲53%，比去年同期提高了1.4%。
總營業收入下降1160萬美元，同比下降13%，批發銷售下降16%，零售銷售下降10%。
報告第三季度操作虧損640萬美元，而2023年第三季度虧損320萬美元。
由於網絡安全事件導致不必要的勞動成本，利潤受到約609,000美元的影響。
Business Progress:
業務進展：
Implemented a five-point restructuring plan intended to improve long-term operational and financial performance. Key initiatives include optimizing inventory, consolidating U.S. wood manufacturing, and upgrading omnichannel capabilities.
Opened nine new Bassett Custom Studio dealers, expanding the dedicated distribution footprint.
Significant e-commerce growth achieved, though it remains a small part of overall retail revenue.
Plans to launch three major collections covering bedroom, dining, and occasional and entertainment product offerings starting this fall through spring 2025.
實施了旨在提高長期運營和財務表現的五點重組計劃。關鍵舉措包括優化庫存、整合美國木製造業和升級全渠道能力。
開設了九家巴西特定製工作室經銷商，擴大了專業分銷網絡。
取得了顯著的電子商務增長，雖然它仍然是整體零售收入的一小部分。
計劃從今年秋季開始到2025年春季推出涵蓋臥室、餐飲、偶爾和娛樂產品的三個主要系列。
Opportunities:
機會：
Enhancements in omnichannel capabilities and e-commerce are poised to strengthen the Bassett brand, complementing in-home makeover proficiency and potentially boosting sales.
The launch of new product collections and designs is likely to attract more customers and enhance market competitiveness.
全渠道能力和電子商務的增強將有助於加強巴西特品牌，與在家裝修專業知識相輔相成，並有可能提升銷售額。
新產品系列和設計的推出可能會吸引更多客戶，並增強市場競爭力。
Risks:
風險：
The culmination of recent external events such as Hurricane Helene and the East Coast dock strike, along with operational disruptions from a cyberattack, have impacted distribution and operational efficiency.
最近發生的一系列外部事件，如颶風海倫和東海岸碼頭罷工，以及網絡攻擊造成的運營中斷，已經影響了配送和運營效率。
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
提示：如需更全面的詳情，請參閱投資人關係網站。本文僅供投資者參考，不作任何指引或建議。
譯文內容由第三人軟體翻譯。
