Bassett Furniture Announces Opening of New Store in Los Angeles, Calif.
March 10 2017 - 12:27PM
Bassett Furniture Industries, Inc. (NASDAQ:BSET), a leading
manufacturer and marketer of high quality, mid-priced home
furnishings, today announced the opening of its new Bassett Home
Furnishings store located in the historical Helms Bakery District
of Los Angeles County, Calif. Bassett currently has 90 store
locations across the United States, including 12 stores in
California.
“Making it our fifth store in the greater Los Angeles area, we
look forward to opening our doors and welcoming customers to
experience the distinctive style, comfort and value that have made
Bassett a trusted furniture brand for more than a century,” said
Robert H. Spilman Jr., Bassett Chairman and CEO. “Our dedicated
retail store program is the most significant growth vehicle for our
company, and we will continue to strengthen our market presence in
California with the opening of this new store.”
Located in the heart of West Los Angeles at 8886 Venice Blvd.,
the new Bassett Home Furnishings store offers customers
complimentary decorating and design consultation, with experienced
designers available to help create custom furnishings, define the
customer’s decorating style, establish a budget, make a house call,
or simply offer an opinion. Bassett is leveraging its customization
capabilities by dedicating space in the store for design solutions
for dining, upholstery and bedroom. Domestic custom manufacturing
capabilities make it possible for Bassett to offer quick delivery
on custom products, with furniture routinely delivered in 30 days
or less. The store’s knowledgeable and enthusiastic team of retail
professionals delivers expert information and advice, creating an
outstanding customer experience. The West Los Angeles location will
be open seven days a week and will provide customers with the
opportunity to schedule private appointments.
“We are passionate about developing fashionable and innovative
home furnishings at a great value, as well as offering a number of
exceptional services to meet our customers’ needs,” added Mr.
Spilman. “Our new store will showcase Bassett’s products and
services in a setting that inspires our customer to express her
unique sense of decorating style.”
The most significant growth vehicle for Bassett continues to be
the Company’s dedicated retail store program. Earlier this
year, Bassett opened a new store in Westbury, N.Y. and relocated
its Scottsdale, Ariz. store to a larger and more upscale
location. The Company plans to open new stores in King of
Prussia, Pa., in the next two months and Pittsburgh, Pa., by the
end of September, 2017. Lease negotiations are underway for
new store locations that could result in additional openings during
2017 or early 2018. With a track record of six consecutive
years of positive same store sales growth and its focus on store
productivity, the Company believes it can take its concept to new
markets and consistently grow overall store count in the years to
come. In addition, two new licensee stores are expected to
open during the remainder of 2017.
Bassett is committed to supporting the local communities in
which each store operates. During the West Los Angeles store’s
grand opening event planned for March 30, 2017, Bassett will donate
$10,000 worth of furniture to the Exceptional Children’s Foundation
(ECF), an organization that provides innovative services for young
children, students and adults with developmental, learning and
emotional disabilities. The furniture will be donated to a home
within the ECF’s Residential Services Program, which provides
housing arrangements for adults with developmental disabilities,
along with in‐home life skills training and support services.
Bassett’s furniture donation to this home will help create a
comfortable and enjoyable space for its residents.
For additional information about Bassett Furniture, including
its new store locations, please visit bassettfurniture.com.
About Bassett Furniture
Bassett Furniture Industries, Inc. (NASDAQ:BSET), is a leading
manufacturer and marketer of high quality, mid-priced home
furnishings. With 90 company- and licensee-owned stores, 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.
The most significant growth opportunity for Bassett continues to be
the Company’s dedicated retail store program. Bassett’s retail
strategy includes affordable custom-built furniture that can be
delivered quickly. 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. For more information,
visit the Company’s website at bassettfurniture.com.
(BSET-G)
Media Contact:
Jay S. Moore
Director of Communications
276-629-6450
Investor Relations:
J. Michael Daniel
Senior Vice President & Chief Financial Officer
276-629-6614
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