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From Home Furnishing Business

Bassett Opens 5th Retail Store in Los Angeles Market

Bassett Furniture Inds. (NASDAQ: BSET) has opened the latest Bassett Home Furnishings store in the historic Helms Bakery District of West Los Angeles -- the company's fifth retail store in the Los Angeles market and its 12th in California.

Located in the heart of West Los Angeles at 8886 Venice Blvd., the new store offers 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.

The company said it 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 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," said Robert Spilman Jr., chairman and CEO.  "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."

He said the most significant growth vehicle for Bassett continues to be the company's dedicated retail store program. Earlier this year, the company opened a new store in Westbury, N.Y., and relocated its Scottsdale, Ariz., store to a larger and more upscale location. 

Spilman said the company plans to open a store in King of Prussia, Pa., in the next two months, and another location in Pittsburgh by the end of September.  In addition, 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 to the new company-owned stores, Spilman said two licensee-owned  stores are expected to open later this year.

During the West Los Angeles store's grand opening on March 30, 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.



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