What the changes say
- Bassett Furniture adjusted its marketing timeline to continue balanced digital, direct mail, and television advertising into 2026.
- The company removed the specific reference to the July and August 2024 cybersecurity incidents from its IT systems risk.
What changed since the prior 10-K
Reworded
- 50% rewrittenRisks Related to Our Brand and Product Offerings
Our success depends upon our brand, marketing and advertising efforts and pricing strategies, and if we are not able to maintain and enhance our brand, or if we are not successful in these efforts and strategies, our business and operating results could be adversely affected
The company updated its marketing strategy timeline, expecting to continue a balanced blend of digital, direct mail, and television advertising into 2026.
- 24% rewrittenRisks Related to Electronic Data Processing and Digital Information
We rely extensively on computer systems to process transactions, summarize results and manage our business. Disruptions in both our primary and back-up systems could adversely affect our business and operating results
The company removed the specific disclosure regarding the July and August 2024 cybersecurity incidents from its IT systems disruption risk.
All 8 risk factors
Headings as the filing states them, in filing order.
Risks Related to Our Retail Operations
- 01We face a volatile retail environment and changing economic conditions that may further adversely affect consumer demand and spending
- 02Our retail stores face significant competition from national, regional and local retailers of home furnishings, including increasing on-line competition via the internet
- 03Our licensee-owned stores may not be able to meet their obligations to us
Risks Related to Our Brand and Product Offerings
- 04Failure to successfully anticipate or respond to changes in consumer tastes and trends in a timely manner could adversely impact our business, operating results and financial condition
- 05Our success depends upon our brand, marketing and advertising efforts and pricing strategies, and if we are not able to maintain and enhance our brand, or if we are not successful in these efforts and strategies, our business and operating results could be adversely affected50% rewritten
Risks Related to Material Sourcing and Supply
- 06Our use of foreign sources of production for a portion of our products exposes us to certain additional risks associated with international operations
- 07Fluctuations in the price, availability and quality of raw materials could result in increased costs or cause production delays which might result in a decline in sales, either of which could adversely impact our earnings
Risks Related to Electronic Data Processing and Digital Information
- 08We rely extensively on computer systems to process transactions, summarize results and manage our business. Disruptions in both our primary and back-up systems could adversely affect our business and operating results24% rewritten
Other Bassett Furniture Industries 10-Ks
- FY2024 10-K risk factors8 risks
Bassett Furniture faces heavy retail competition, consumer demand shifts, and economic cyclicality impacting home furnishings.
Filed Feb 10, 2025
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.