Bassett Furniture Announces Opening of New Store in King of Prussia, PA.

BASSETT, Va., April 22, 2017 -- Bassett Furniture Industries, Inc. (NASDAQ:BSET), a leading manufacturer and marketer of high quality home furnishings, today announced the opening of its new Bassett Home Furnishings store located at the intersection of West DeKalb Pike and Forge Road across the street from the King of Prussia Mall. Bassett currently has 91 store locations across the United States, including four stores in the Philadelphia metropolitan area.  Located at 611 DeKalb Pike, the new 18,100 square-foot store is on a hard corner across the street from the second largest mall in the country.

“Our Bassett Home Furnishings stores remain the priority growth vehicle for our company,” said Robert H. Spilman Jr., Bassett Chairman and CEO.  “This new store has incredible visibility from the mall and will draw customers from all areas of the Philadelphia metropolitan area.”

Bassett Home Furnishings 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 offer a professional design opinion. Bassett is leveraging its customization capabilities by dedicating space in the store for design solutions for dining, upholstery and bedroom. The store’s knowledgeable and passionate team of retail professionals delivers expert information and advice, creating an outstanding customer experience. The King of Prussia location will be open seven days a week and will provide customers with the opportunity to schedule private, personalized appointments.

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, while also opening a fifth store in the West Los Angeles area of Culver City, Ca. in March.  The Company also plans to open a new store in Pittsburgh, Pennsylvania, by the end of September. 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.

Bassett is dedicated to supporting the local communities in which each store operates. During the King of Prussia store’s grand opening event planned for Thursday, May 11, Bassett will donate $10,000 worth of furniture to The Good Samaritan Shelter, a Christian ministry that provides safe, comfortable housing and supportive services to individuals experiencing homelessness in Chester and Lancaster counties. The Good Samaritan Shelter services 150 residents annually, not only assisting these individuals with living arrangements, but also helping them to gain stability and life skills. Bassett’s furniture donation to this organization will aid in creating a more comfortable environment for its residents to grow and succeed.

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 91 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