Tag: Consumer

Vera Bradley (VRA) – Review of 10-Q for July 30 Fiscal Second Quarter

Posted on by cpatches


Tuesday, September 13, 2022

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

10-Q Filing. Last week, Vera Bradley filed the 10-Q for the fiscal second quarter of 2023 ended July 30th and we had an opportunity to review. While the big picture remains the same from the August 31st earnings release, the 10-Q does provide some additional detail regarding the quarter’s performance.

VB Direct Comparable Sales. The overall 13.8% comp sales decline included a 20.1% decrease in comparable store sales, partially offset by a 3.1% increase in e-commerce sales. Non-comp stores contributed $2.6 million of revenue. The Company permanently closed eight full-line stores and opened six factory outlet stores in the last twelve months.


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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Bassett Furniture (BSET) – A Move into E-commerce

Posted on by cpatches


Thursday, September 08, 2022

Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations. As of September 16, 2017, the company operated a network of 91 company-and licensee-owned stores. It also provides shipping, delivery, and warehousing services to customers in the furniture industry. In addition, the company owns and leases retail store properties. It also distributes its products through other multi-line furniture stores, Bassett galleries or design centers, specialty stores, and mass merchants. Bassett Furniture Industries was founded in 1902 and is based in Bassett, Virginia.

Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.

Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Purchase of Noa Home. Basset purchased Noa Home, Inc., a a mid-priced e-commerce furniture retailer headquartered in  Montreal, Canada. We believe the purchase provides multiple benefits to Bassett, including a greater online presence, including for Bassett products, as well as allowing the Company to attract more digitally native consumers.

Transaction Details. The purchase price included cash payments of CAD$2.0 million paid to the co-founders of Noa and approximately CAD$5.7 million for the repayment of existing debt. The Noa co-founders also will have the opportunity to receive additional annual cash payments of CAD$1.33 million per year for the following three fiscal years based on established increases in net revenues and achieving certain internal EBITDA goals.


Get the Full Report

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.