"We are pleased to report an 11% sales increase for the fourth quarter of 2010," said Robert H. Spilman Jr., President and CEO. "While we do not believe that the overall pace of sales has improved significantly on an industry-wide basis, we are making progress on several fronts to grow our top line. This includes slight improvements in sales in our Company-owned retail fleet, the addition of new accounts outside our store network, and improved service levels on our imported products by virtue of our strategy to carry higher levels of inventory on our key items. The profit that we generated during the quarter resulted from a higher level of sales enhanced by an expense structure that has been aggressively trimmed for several quarters. We are very focused on doing everything that we can to generate future growth while continuing to monitor our operating expenses."Wholesale Segment
Bassett Announces 11% Sales Increase For The Fourth Quarter & The Potential Sale Of The International Home Furnishings Center
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