Bassett Furniture Industries (BSET) 10-Q 1 Oct 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Aug. 29, 2015	Sep. 18, 2015
Entity Registrant Name	BASSETT FURNITURE INDUSTRIES INC
Entity Central Index Key	10,329
Trading Symbol	bset
Current Fiscal Year End Date	--11-28
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		10,933,933
Document Type	10-Q
Document Period End Date	Aug. 29, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Retained Earnings (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2015	Aug. 30, 2014	Aug. 29, 2015	Aug. 30, 2014
Sales revenue:
Furniture and accessories	$ 97,107	$ 85,186	$ 286,122	$ 246,018
Logistics	13,904		29,250
Total sales revenue	111,011	$ 85,186	315,372	$ 246,018
Cost of furniture and accessories sold	44,824	40,168	133,676	115,434
Selling, general and administrative expenses excluding new store pre-opening costs	58,303	41,510	163,203	120,991
New store pre-opening costs	$ 192	$ 109	236	$ 1,217
Lease exit costs			419
Asset impairment charges			106
Restructuring Charges			449
Income from operations	$ 7,692	$ 3,399	17,283	$ 8,376
Remeasurement gain on acquisition of affiliate			7,212
Income from Continued Dumping & Subsidy Offset Act			1,066
Other loss, net	$ (472)	$ (65)	(1,692)	$ (52)
Income before income taxes	7,220	3,334	23,869	8,324
Income tax expense	2,954	1,078	9,118	2,674
Net income	4,266	2,256	14,751	5,650
Retained earnings-beginning of period	$ 115,149	105,297	$ 106,339	104,526
Purchase and retirement of common stock		(859)		(2,174)
Cash dividends	$ (1,029)	(836)	$ (2,704)	(2,144)
Retained earnings-end of period	$ 118,386	$ 105,858	$ 118,386	$ 105,858
Basic earnings per share (in dollars per share)	$ 0.39	$ 0.22	$ 1.38	$ 0.54
Diluted earnings per share (in dollars per share)	0.39	0.21	1.36	0.53
Dividends per share (in dollars per share)	$ 0.09	$ 0.08	$ 0.25	$ 0.20

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2015	Aug. 30, 2014	Aug. 29, 2015	Aug. 30, 2014
Net income	$ 4,266	$ 2,256	$ 14,751	$ 5,650
Other comprehensive income:
Amortization associated with supplemental executive retirement defined benefit plan (SERP)	60	41	177	124
Income taxes related to SERP	(23)	(16)	(67)	(48)
Other comprehensive income, net of tax	37	25	110	76
Total comprehensive income	$ 4,303	$ 2,281	$ 14,861	$ 5,726

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Aug. 29, 2015	Nov. 29, 2014
Current assets
Cash and cash equivalents	$ 20,600	$ 26,673
Short-term investments	23,125	23,125
Accounts receivable, net	19,545	15,228
Inventories	65,437	57,272
Deferred income taxes	5,378	5,268
Other current assets	8,313	7,796
Total current assets	142,398	135,362
Property and equipment, net	96,579	74,812
Deferred income taxes	5,813	9,701
Goodwill and other intangible assets	17,762	1,730
Other	8,065	19,141
Total long-term assets	31,640	30,572
Total assets	270,617	240,746
Current liabilities
Accounts payable	21,609	22,251
Accrued compensation and benefits	12,014	8,931
Customer deposits	$ 19,006	22,202
Dividends payable		2,102
Current portion of long-term debt	$ 4,476	316
Other accrued liabilities	11,734	10,971
Total current liabilities	68,839	66,773
Long-term liabilities
Post employment benefit obligations	11,353	11,498
Notes payable	10,360	1,902
Other long-term liabilities	3,986	3,741
Total long-term liabilities	25,699	17,141
Stockholders’ equity
Common stock	54,681	52,467
Retained earnings	118,386	$ 106,339
Additional paid-in capital	4,876
Accumulated other comprehensive loss	(1,864)	$ (1,974)
Total stockholders' equity	176,079	156,832
Total liabilities and stockholders’ equity	$ 270,617	$ 240,746

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Aug. 29, 2015	Aug. 30, 2014
Operating activities:
Net income	$ 14,751	$ 5,650
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	7,302	5,428
Equity in undistributed income of investments and unconsolidated affiliated companies	(220)	$ (534)
Non-cash asset impairment charges	106
Non-cash portion of lease exit costs	419
Remeasurement gain on acquisition of affiliate	(7,212)
Tenant improvement allowance received from lessors	933	$ 2,119
Deferred income taxes	$ 3,778	882
Collateral deposited with insurance carrier		(1,150)
Other, net	$ 1,445	(165)
Changes in operating assets and liabilities:
Accounts receivable	(751)	19
Inventories	(8,165)	(1,151)
Other current assets	(21)	732
Customer deposits	(3,196)	3,870
Accounts payable and accrued liabilities	2,158	2,570
Net cash provided by operating activities	11,327	18,270
Investing activities:
Purchases of property and equipment	(11,283)	(15,210)
Proceeds from sales of property and equipment	2,952	$ 5,157
Cash paid for business acquisition, net of cash acquired	(7,323)
Capital contribution to affiliate	$ (1,345)
Proceeds from maturity of short-term investments		$ 5,000
Proceeds from sale of interest in affiliate		2,348
Other		246
Net cash used in investing activities	$ (16,999)	(2,459)
Financing activities:
Cash dividends	(4,806)	(4,316)
Proceeds from the exercise of stock options	4,018	33
Other issuance of common stock	254	242
Repurchases of common stock	(1,374)	(4,621)
Taxes paid related to net share settlement of equity awards	(178)	(489)
Excess tax benefits from stock-based compensation	2,008	257
Repayments of notes payable	(1,630)	$ (208)
Proceeds from equipment loans	1,307
Net cash used in financing activities	(401)	$ (9,102)
Change in cash and cash equivalents	(6,073)	6,709
Cash and cash equivalents - beginning of period	26,673	12,733
Cash and cash equivalents - end of period	$ 20,600	$ 19,442

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and footnotes required by accounting principles generally accepted in the United States (“GAAP”) for complete financial statements. In our opinion, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. References to “ASC” included hereinafter refer to the Accounting Standards Codification established by the Financial Accounting Standards Board as the source of authoritative GAAP. The condensed consolidated financial statements include the accounts of Bassett Furniture Industries, Incorporated (“Bassett”, “we”, “our”, or the “Company”) and our wholly-owned subsidiaries of which we have a controlling interest. The equity method of accounting was used for our investment in an affiliated company in which we exercised significant influence but did not maintain a controlling interest prior to the Zenith acquisition mentioned following. In accordance with ASC Topic 810, we have evaluated our licensees and certain other entities to determine whether they are variable interest entities (“VIEs”) of which we are the primary beneficiary and thus would require consolidation in our financial statements. To date we have concluded that none of our licensees nor any other of our counterparties represent VIEs. Revenue from the sale of furniture and accessories is reported in the accompanying condensed consolidated statements of income net of estimates for returns and allowances. For comparative purposes, certain amounts from 2014 have been reclassified to conform to the 2015 presentation. Zenith Acquisition Prior to February 2, 2015 we held a 49% interest in Zenith Freight Lines, LLC (“Zenith”) for which we used the equity method of accounting. On February 2, 2015 we acquired the remaining 51% ownership interest (see Note 3, Business Combinations). Accordingly, the results of Zenith have been consolidated with our results since the date of the acquisition. Sales of logistical services from Zenith to our wholesale and retail segments have been eliminated, and Zenith’s operating costs and expenses since the date of acquisition are included in selling, general and administrative expenses in our condensed consolidated statements of net income. Our equity in the earnings of Zenith prior to the date of the acquisition is included in other loss, net, in the accompanying condensed consolidated statements of income.

Note 2 - Interim Financial Pres

Note 2 - Interim Financial Presentation	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Condensed Financial Statements [Text Block]	2. Interim Financial Presentation All intercompany accounts and transactions have been eliminated in the condensed consolidated financial statements. The results of operations for the three and nine months ended August 29, 2015 are not necessarily indicative of results for the full fiscal year. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended November 29, 2014. We calculate an anticipated effective tax rate for the year based on our annual estimates of pretax income and use that effective tax rate to record our year-to-date income tax provision. Any change in annual projections of pretax income could have a significant impact on our effective tax rate for the respective quarter. Our effective tax rates for the three and nine months ended August 29, 2015 and August 30, 2014 differ from the federal statutory rate primarily due to the effects of state income taxes and various permanent differences.

Note 3 - Business Combination -

Note 3 - Business Combination - Acquisition of Zenith	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Business Combination Disclosure [Text Block]	3. Business Combination – Acquisition of Zenith Prior to February 2, 2015 we held a 49% interest in Zenith for which we used the equity method of accounting. Zenith provides domestic transportation and warehousing services primarily to furniture manufacturers and distributors and also provides home delivery services to furniture retailers. We historically have contracted with Zenith to provide substantially all of our domestic freight, transportation and warehousing needs for the wholesale business. In addition, Zenith provides home delivery services for many of our Company-owned retail stores. On February 2, 2015, we acquired the remaining 51% of Zenith in exchange for cash, Bassett common stock and a note payable with a total fair value of $19,111. The value of the Bassett common stock was based on the closing market price of our shares on the acquisition date, discounted for lack of marketability due to restrictions on the seller’s ability to transfer the shares. The restrictions on one half of the shares expire on the first anniversary of the acquisition, with the remainder expiring on the second anniversary. The note is payable in three annual installments of $3,000 each beginning February 2, 2016, and has been discounted to its fair value as of the date of the acquisition based on our estimated borrowing rate. The carrying value of our 49% interest in Zenith prior to the acquisition was $9,480 (see Note 7, unconsolidated affiliated company). In connection with the acquisition, this investment was remeasured to a fair value of $16,692 resulting in the recognition of a gain of $7,212 during the nine months ended August 29, 2015. The impact of this gain upon our basic and diluted earnings per share for the nine months ended August 29, 2015 is approximately $0.42 and $0.41, respectively, net of the related tax expense. The remeasured fair value of our prior interest in Zenith was estimated based on the fair value of the consideration transferred to acquire the remaining 51% of Zenith less an estimated control premium. Under the acquisition method of accounting, the fair value of the consideration transferred along with the fair value of our previous 49% interest in Zenith was allocated to the tangible and intangible assets acquired and the liabilities assumed based on their estimated fair values as of the acquisition date with the remaining unallocated amount recorded as goodwill. The total fair value of the acquired business was determined as follows: Fair value of consideration transferred in exchange for 51% of Zenith: Cash $ 9,000 Bassett common stock, 89,485 shares, par value $5.00 per share, fair value at closing $18.72 per share 1,675 Note payable 8,436 Total fair value of consideration transferred to seller 19,111 Less effective settlement of previous amounts payable to Zenith at acquisition (3,622 ) Total fair value of consideration net of effective settlement 15,489 Fair value of Bassett's previous 49% interest in Zenith 16,692 Total fair value of acquired business $ 32,181 The preliminary allocation of the fair value of the acquired business was based upon a preliminary valuation. Our estimates and assumptions are subject to change as we obtain additional information for our estimates during the measurement period (up to one year from the acquisition date). The primary areas of the preliminary allocation of the fair value of consideration transferred that are not yet finalized relate to the fair values of certain tangible and intangible assets acquired and the residual goodwill. The preliminary allocation of the fair value of the acquired business is as follows: Identifiable assets acquired: Acquired cash and cash equivalents $ 1,677 Accounts receivable, net 3,399 Prepaid expenses and other current assets 496 Property and equipment 18,110 Other long-term assets 646 Intangible assets 6,362 Total identifiable assets acquired 30,690 Liabilities assumed: Accounts payable and accrued liabilities (4,038 ) Notes payable (4,329 ) Total liabilities assumed (8,367 ) Net identifiable assets acquired 22,323 Goodwill 9,858 Total net assets acquired $ 32,181 Goodwill was determined based on the residual difference between the fair value of the consideration transferred and the value assigned to tangible and intangible assets and liabilities and is deductible for tax purposes. Among the factors that contributed to a purchase price resulting in the recognition of goodwill were Zenith’s reputation for best-in-class, fully integrated logistical services which are uniquely tailored to the needs of the furniture industry, as well as their ability to provide expedited delivery service which is increasingly in demand in the furniture industry. A portion of the fair value of consideration transferred has been provisionally assigned to identifiable intangible assets as follows: Useful Life Description: In Years Fair Value Customer relationships 15 $ 3,038 Trade names Indefinite 2,490 Technology - customized applications 7 834 Total acquired intangible assets $ 6,362 The finite-lived intangible assets are being amortized on a straight-line basis over their useful lives. The indefinite-lived intangible asset and goodwill are not amortized but will be tested for impairment annually or between annual tests if an indicator of impairment exists. The fair values of consideration transferred and net assets acquired were determined using a combination of Level 2 and Level 3 inputs as specified in the fair value hierarchy in ASC 820, Fair Value Measurements and Disclosures Acquisition costs related to the Zenith acquisition totaled $0 and $209 during the three and nine months ended August 29, 2015, respectively, and are included in selling, general and administrative expenses in the condensed consolidated statements of income. The acquisition costs are primarily related to legal, accounting and valuation services. Zenith’s revenue since February 2, 2015 included in our condensed consolidated statement of income for the three and nine months ended August 29, 2015 is $13,904 and $29,250, respectively, after the elimination of intercompany transactions. Net income of Zenith for the three and nine months ended August 29, 2015 is $629 and $1,220, respectively. The pro forma results of operations for the acquisition of Zenith have not been presented because they are not material to our consolidated results of operations.

Note 4 - Goodwill and Other Int

Note 4 - Goodwill and Other Intangible Assets	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	4. Goodwill and Other Intangible Assets At August 29, 2015 goodwill and other intangible assets consisted of the following: Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization: Customer relationships $ 3,038 $ (118 ) $ 2,920 Technology - customized applications 834 (70 ) 764 Total intangible assets subject to amortization 3,872 (188 ) 3,684 Intangibles not subject to amortization: Trade names 2,490 - 2,490 Goodwill 11,588 - 11,588 Total goodwill and other intangible assets $ 17,950 $ (188 ) $ 17,762 At November 29, 2014 our only intangible asset was goodwill with a carrying value of $1,731. Changes in the carrying amounts of goodwill by reportable segment were as follows: Wholesale Retail Logistics Total Balance as of November 29, 2014 $ 1,129 $ 602 $ - $ 1,731 Goodwill arising from acquisition of Zenith 3,711 1,218 4,928 9,857 Balance as of August 29, 2015 $ 4,840 $ 1,820 $ 4,928 $ 11,588 The goodwill recognized in connection with our acquisition of Zenith remains subject to future adjustments before the close of the measurement period in the first quarter of fiscal 2016. Refer to Note 3, Business Combinations, for additional information regarding the Zenith acquisition. There were no accumulated impairment losses on goodwill as of August 29, 2015 or November 29, 2014. Amortization expense associated with intangible assets during the three and nine months ended August 29, 2015 was $80 and $188, respectively. There was no amortization expense recognized during fiscal 2014. Estimated future amortization expense for intangible assets that exist at August 29, 2015 is as follows: Remainder of fiscal 2015 $ 79 Fiscal 2016 322 Fiscal 2017 322 Fiscal 2018 322 Fiscal 2019 322 Fiscal 2020 322 Thereafter 1,995 Total $ 3,684

Note 5 - Accounts Receivable

Note 5 - Accounts Receivable	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	5. Accounts Receivable Accounts receivable consists of the following: August 29, 2015 November 29, 2014 Gross accounts receivable $ 20,840 $ 16,477 Allowance for doubtful accounts (1,295 ) (1,249 ) Accounts receivable, net $ 19,545 $ 15,228 At August 29, 2015 and November 29, 2014 approximately 37% and 46%, respectively, of gross accounts receivable, and approximately 55% and 58%, respectively, of the allowance for doubtful accounts were attributable to amounts owed to us by our licensees. Our remaining receivables are primarily due from national account customers, traditional distribution channel customers, and logistical services customers. Activity in the allowance for doubtful accounts for the nine months ended August 29, 2015 was as follows: Balance at November 29, 2014 $ 1,249 Acquired allowance on accounts receivable (Note 3) 209 Reductions to allowance, net (163 ) Balance at August 29, 2015 $ 1,295 We believe that the carrying value of our net accounts receivable approximates fair value. The inputs into these fair value estimates reflect our market assumptions and are not observable. Consequently, the inputs are considered to be Level 3 as specified in the fair value hierarchy in ASC Topic 820, Fair Value Measurements and Disclosures

Note 6 - Inventories

Note 6 - Inventories	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Inventory Disclosure [Text Block]	6 . Inventories Inventories are valued at the lower of cost or market. Cost is determined for domestic furniture inventories using the last-in, first-out (LIFO) method. The costs for imported inventories are determined using the first-in, first-out (FIFO) method. Inventories were comprised of the following: August 29, 2015 November 29, 2014 Wholesale finished goods $ 34,275 $ 31,399 Work in process 334 298 Raw materials and supplies 12,007 8,109 Retail merchandise 28,455 26,428 Total inventories on first-in, first-out method 75,071 66,234 LIFO adjustment (7,859 ) (7,550 ) Reserve for excess and obsolete inventory (1,775 ) (1,412 ) $ 65,437 $ 57,272 We estimate an inventory reserve for excess quantities and obsolete items based on specific identification and historical write-offs, taking into account future demand, market conditions and the respective valuations at LIFO. The need for these reserves is primarily driven by the normal product life cycle. As products mature and sales volumes decline, we rationalize our product offerings to respond to consumer tastes and keep our product lines fresh. If actual demand or market conditions in the future are less favorable than those estimated, additional inventory write-downs may be required. In determining reserves, we calculate separate reserves on our wholesale and retail inventories. Our wholesale inventories tend to carry the majority of the reserves for excess quantities and obsolete inventory due to the nature of our distribution model. These wholesale reserves primarily represent design and/or style obsolescence. Typically, product is not shipped to our retail warehouses until a consumer has ordered and paid a deposit for the product. We do not typically hold retail inventory for stock purposes. Consequently, floor sample inventory and inventory for delivery to customers account for the majority of our inventory at retail. Retail reserves are based on accessory and clearance floor sample inventory in our stores and any inventory that is not associated with a specific customer order in our retail warehouses. Activity in the reserves for excess quantities and obsolete inventory by segment are as follows: Wholesale Segment Retail Segment Total Balance at November 29, 2014 $ 1,060 $ 352 $ 1,412 Additions charged to expense 1,601 319 1,920 Write-offs (1,187 ) (370 ) (1,557 ) Balance at August 29, 2015 $ 1,474 $ 301 $ 1,775 Our estimates and assumptions have been reasonably accurate in the past. We have not made any significant changes to our methodology for determining inventory reserves in 2015 and do not anticipate that our methodology is likely to change in the future.

Note 7 - Unconsolidated Affilia

Note 7 - Unconsolidated Affiliated Company	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	7. Unconsolidated Affiliated Compan y Prior to February 2, 2015 we owned 49% of Zenith and accounted for our investment under the equity method. Our investment in Zenith at November 29, 2014 was $7,915 and is included in other assets in our condensed consolidated balance sheet. The balance of our investment in Zenith was adjusted for our equity in the earnings of Zenith through February 2, 2015 of $220, and increased by $1,345 representing our 49% share of a $2,745 capital contribution made to Zenith, a portion of which was used for retirement of certain of Zenith’s debt prior to the acquisition. This activity resulted in a carrying value for our investment in Zenith of $9,480 on the date of acquisition. See Note 3 regarding the remeasurement of this carrying value to fair value in connection with the acquisition and the resulting gain. At November 29, 2014, we owed Zenith $2,628 for services rendered to us. We believe the transactions with Zenith were recorded at current market rates. Prior to the acquisition on February 2, 2015, we recorded the following income from Zenith in other loss, net, in our condensed consolidated statements of income: Quarter Ended Nine Months Ended August 29, 2015 August 30, 2014 August 29, 2015 August 30, 2014 Earnings recognized $ - $ 190 $ 220 $ 534

Note 8 - Notes Payable and Bank

Note 8 - Notes Payable and Bank Credit Facility	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	8. Notes Payable and Bank Credit Facility Our notes payable consist of the following: August 29, 2015 Principal Balance Unamortized Discount Net Carrying Amount Zenith acquisition note payable $ 9,000 $ (388 ) $ 8,612 Transportation equipment notes payable 2,952 - 2,952 Real estate notes payable 3,272 - 3,272 Total debt 15,224 (388 ) 14,836 Less current portion (4,709 ) 233 (4,476 ) Total long-term debt $ 10,515 $ (155 ) $ 10,360 November 29, 2014 Principal Balance Unamortized Discount Net Carrying Amount Real estate notes payable $ 2,218 $ - $ 2,218 Less current portion (316 ) - (316 ) Total long-term debt $ 1,902 $ - $ 1,902 The future maturities of our notes payable are as follows: Remainder of fiscal 2015 $ 420 Fiscal 2016 5,688 Fiscal 2017 4,330 Fiscal 2018 3,855 Fiscal 2019 527 Fiscal 2020 404 Thereafter - $ 15,224 Zenith Acquisition Note Payable As part of the consideration given for our acquisition of Zenith on February 2, 2015, we issued an unsecured note payable to the former owner in the amount of $9,000. The note is payable in three annual installments $3,000 beginning February 2, 2016. Interest is payable annually at the one year LIBOR rate, which was established at 0.62% on February 2, 2015 and resets on each anniversary of the note. The note was recorded at its fair value in connection with the acquisition resulting in a debt discount that is amortized to the principal amount through the recognition of non-cash interest expense over the term of the note. Interest expense resulting from the amortization of the discount for the three and nine months ended August 29, 2015 was $76 and $177, respectively. The current portion of the note due within one year, net of the current portion of the unamortized discount, is $2,767 at August 29, 2015. Transportation Equipment Notes Payable Certain of the transportation equipment operated in our logistical services segment is financed by notes payable in the amount of $2,952. These notes are payable in fixed monthly payments of principal and interest at the fixed rate of 3.75% ,with remaining terms of twenty-two to forty-three months. The current portion of these notes due within one year at August 29, 2015 is $1,115. The notes are secured by tractors, trailers and local delivery trucks with a total net book value of $4,582 at August 29, 2015. Real Estate Notes Payable Two of our retail real estate properties have been financed through commercial mortgages with interest rates of 6.73%. These mortgages are collateralized by the respective properties with net book values totaling approximately $6,026 and $6,127 at August 29, 2015 and November 29, 2014, respectively. The total balance outstanding under these mortgages was $1,983 and $2,218 at August 29, 2015 and November 29, 2014, respectively. The current portion of these mortgages due within one year was $332 and $316 as of August 29, 2015 and November 29, 2014, respectively. Certain of the real estate located in Conover, NC and operated in our logistical services segment is subject to a note payable in the amount of $1,289. The note is payable in monthly installments of principal and interest at the fixed rate of 3.75% through October 2016, at which time the remaining balance on the note of approximately $1,004 will be due. The current portion of this note due within one year at August 29, 2015 is $262. The note is secured by land and buildings with a total net book value of $6,203 at August 29, 2015. Fair Value We believe that the carrying amount of our notes payable approximates fair value at both August 29, 2015 and November 29, 2014. In estimating the fair value, we utilize current market interest rates for similar instruments. The inputs into these fair value calculations reflect our market assumptions and are not observable. Consequently, the inputs are considered to be Level 3 as specified in the fair value hierarchy in ASC Topic 820, Fair Value Measurements and Disclosures Bank Credit Facility Our credit facility with our bank provides for a line of credit of up to $15,000. This credit facility is secured by our accounts receivable and inventory. The facility contains covenants requiring us to maintain certain key financial ratios. We are in compliance with all covenants under the agreement and expect to remain in compliance for the foreseeable future. The line will mature in December 2015, at which time we expect to obtain a new line under substantially similar terms. We have $1,825 outstanding under standby letters of credit, leaving availability under our credit line of $13,175.

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	9 . Commitments and Contingencies We are involved in various legal and environmental matters, which arise in the normal course of business. Although the final outcome of these matters cannot be determined, based on the facts presently known, we believe that the final resolution of these matters will not have a material adverse effect on our financial position or future results of operations. We lease land and buildings that are used in the operation of our Company-owned retail stores as well as in the operation of certain of our licensee-owned stores, and we lease land and buildings at various locations throughout the continental United States for warehousing and distribution hubs used in our logistical services segment. We also lease tractors, trailers and local delivery trucks used in our logistical services segment. Our real estate lease terms range from one to 15 years and generally have renewal options of between five and 15 years. Some store leases contain contingent rental provisions based upon sales volume. Our transportation equipment leases have terms ranging from two to seven years with fixed monthly rental payments plus variable charges based upon mileage. The following schedule shows future minimum lease payments under non-cancellable operating leases with terms in excess of one year as of August 29, 2015: Retail Stores Distribution Centers Transportation Equipment Total Remainder of fiscal 2015 $ 4,631 $ 961 $ 669 $ 6,261 Fiscal 2016 17,528 3,523 2,429 23,480 Fiscal 2017 14,793 3,074 1,709 19,576 Fiscal 2018 12,282 1,339 806 14,427 Fiscal 2019 10,389 379 755 11,523 Fiscal 2020 9,103 - 671 9,774 Thereafter 24,635 - 30 24,665 $ 93,361 $ 9,276 $ 7,069 $ 109,706 We also have guaranteed certain lease obligations of licensee operators. Lease guarantees range from one to ten years. We were contingently liable under licensee lease obligation guarantees in the amount of $2,594 and $3,164 at August 29, 2015 and November 29, 2014, respectively. In the event of default by an independent dealer under the guaranteed lease, we believe that the risk of loss is mitigated through a combination of options that include, but are not limited to, arranging for a replacement dealer, liquidating the collateral (primarily inventory), and pursuing payment under the personal guarantees of the independent dealer. The proceeds of the above options are expected to cover the estimated amount of our future payments under the guarantee obligations, net of recorded reserves. The fair value of lease guarantees (an estimate of the cost to the Company to perform on these guarantees) at August 29, 2015 and November 29, 2014 was not material.

Note 10 - Post Employment Benef

Note 10 - Post Employment Benefit Obligations	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Postemployment Benefits Disclosure [Text Block]	10. Post Employment Benefit Obligations We have an unfunded Supplemental Retirement Income Plan (the “Supplemental Plan”) that covers one current and certain former executives. The liability for this plan was $10,323 and $10,376 as of August 29, 2015 and November 29, 2014, respectively, and is recorded as follows in the condensed consolidated balance sheets: August 29, 2015 November 29, 2014 Accrued compensation and benefits $ 724 $ 724 Post employment benefit obligations 9,599 9,652 Total pension liability $ 10,323 $ 10,376 Components of net periodic pension costs are as follows: Quarter Ended Nine Months Ended August 29, 2015 August 30, 2014 August 29, 2015 August 30, 2014 Service cost $ 26 $ 20 $ 78 $ 59 Interest cost 94 93 281 279 Amortization of transition obligation 11 10 32 32 Amortization of loss 49 31 146 92 Net periodic pension cost $ 180 $ 154 $ 537 $ 462 We have an unfunded Deferred Compensation Plan that covers one current executive and certain former executives and provides for voluntary deferral of compensation. This plan has been frozen with no additional participants or deferrals permitted. Our liability under this plan was $2,081 and $2,174 as of August 29, 2015 and November 29, 2014, respectively, and is recorded as follows in the condensed consolidated balance sheets: August 29, 2015 November 29, 2014 Accrued compensation and benefits $ 328 $ 328 Post employment benefit obligations 1,753 1,846 Total deferred compensation liability $ 2,081 $ 2,174 During the third quarter of fiscal 2014, we recorded a credit to income of $124 due to a change in our estimate of the future obligation of a former employee. We recognized expense (income) under this plan during the three and nine months ended August 29, 2015 and August 30, 2014 as follows: Quarter Ended Nine Months Ended August 29, 2015 August 30, 2014 August 29, 2015 August 30, 2014 Deferred compensation expense (income) $ 54 $ (52 ) $ 162 $ 92

Note 11 - Earnings Per Share

Note 11 - Earnings Per Share	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	11 . Earnings Per Share The following reconciles basic and diluted earnings per share: Net Income Weighted Average Shares Net Income Per Share For the quarter ended August 29, 2015: Basic earnings per share $ 4,266 10,816,293 $ 0.39 Add effect of dilutive securities: Options and restricted shares - 116,575 - Diluted earnings per share $ 4,266 10,932,868 $ 0.39 For the quarter ended August 30, 2014: Basic earnings per share $ 2,256 10,475,945 $ 0.22 Add effect of dilutive securities: Options and restricted shares - 135,209 (0.01 ) Diluted earnings per share $ 2,256 10,611,154 $ 0.21 For the nine months ended August 29, 2015: Basic earnings per share $ 14,751 10,658,416 $ 1.38 Add effect of dilutive securities: Options and restricted shares - 153,787 (0.02 ) Diluted earnings per share $ 14,751 10,812,203 $ 1.36 For the nine months ended August 30, 2014: Basic earnings per share $ 5,650 10,596,433 $ 0.54 Add effect of dilutive securities: Options and restricted shares - 138,627 (0.01 ) Diluted earnings per share $ 5,650 10,735,060 $ 0.53 For the three and nine months ended August 29, 2015 and August 30, 2014, the following potentially dilutive shares were excluded from the computations as their effect was anti-dilutive: Quarter Ended Nine Months Ended August 29, 2015 August 30, 2014 August 29, 2015 August 30, 2014 Stock options - 207,500 - 207,500 Unvested shares 2,000 - 8,354 66,339 Total anti-dilutive securities 2,000 207,500 8,354 273,839

Note 12 - Financial Instruments

Note 12 - Financial Instruments and Fair Value Measurements	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	1 2 . Financial Instruments and Fair Value Measurements Financial Instruments Our financial instruments include cash and cash equivalents, short-term investments in certificates of deposit, accounts receivable, cost method investments, accounts payable and long-term debt. Because of their short maturities, the carrying amounts of cash and cash equivalents, short-term investments in certificates of deposit, accounts receivable, and accounts payable approximate fair value. Our cost method investments generally involve entities for which it is not practical to determine fair values. Investments Our short-term investments of $23,125 at both August 29, 2015 and November 29, 2014 consisted of certificates of deposit (CDs) with original terms generally ranging from six to twelve months, bearing interest at rates ranging from 0.28% to 1.00%. At August 29, 2015, the weighted average remaining time to maturity of the CDs was approximately ten months and the weighted average yield of the CDs was approximately 0.42%. Each CD is placed with a Federally insured financial institution and all deposits are within Federal deposit insurance limits. As the CDs mature, we expect to reinvest them in CDs of similar maturities of up to one year. Due to the nature of these investments and their relatively short maturities, the carrying amount of the short-term investments at August 29, 2015 and November 29, 2014 approximates their fair value. Fair Value Measurement The Company accounts for items measured at fair value in accordance with ASC Topic 820, Fair Value Measurements and Disclosures Level 1 Inputs Level 2 Inputs Level 3 Inputs We believe that the carrying amounts of our current assets and current liabilities approximate fair value due to the short-term nature of these items. The recurring estimate of the fair value of our notes payable for disclosure purposes (see Note 8) involves Level 3 inputs. Our primary non-recurring fair value estimates typically involve business acquisitions (Note 3) which involve a combination of Level 2 and Level 3 inputs, and asset impairments (Note 13) which utilize Level 3 inputs.

Note 13 - Asset Disposition, Im

Note 13 - Asset Disposition, Impairment Charges and Accured Lease Exit Costs, and Income from CDSOA	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Asset Disposition and Accrued Lease Exit Costs [Text Block]	1 3 . Asset Disposition, Impairment Charges and Accrued Lease Exit Costs, and Income from CDSOA Asset Disposition On March 12, 2015, we closed on the sale of our retail real estate investment property located in Sugarland, Texas and received cash in the amount of $2,835 which is included in proceeds from sales of property and equipment in the accompanying statement of condensed consolidated cash flows. This asset was included in other assets at November 29, 2014 along with our other investments in retail real estate. During the nine months ended August 29, 2015, we recognized a non-cash charge of $182 to write down the carrying value of the Sugarland real estate to the selling price. This charge is included in other loss, net in our condensed consolidated income statement. Asset Impairment Charges and Lease Exit Costs During the first quarter of fiscal 2015 we announced the closing of our Company-owned retail store location in Memphis, Tennessee. In connection with this closing, we recognized non-cash charges for the nine months ended August 29, 2015 of $419 for the accrual of lease exit costs and $106 for the write off of abandoned leasehold improvements and other store assets. The following table summarized the activity related to our accrued lease exit costs: Balance at November 29, 2014 $ 433 Provisions associated with Company-owned retail store closures 419 Payments and other (185 ) Balance at August 29, 2015 $ 667 Current portion included in other accrued liabilities $ 402 Long-term portion included in other long-term liabilities 265 $ 667 Management Restructuring Costs During the nine months ended August 29, 2015, we recognized $449 of expense related to severance payable to a former executive, who left the Company in April, 2015. Of the total severance amount, $254 had been paid during the second and third quarters of 2015 with the remaining $195 included in other accrued liabilities in the condensed consolidated balance sheet at August 29, 2015. Income from Continued Dumping & Subsidy Offset Act During the nine months ended August 29, 2015, we recognized income of $1,066 arising from distributions received from U.S. Customs and Border Protection (“Customs”) under the Continued Dumping and Subsidy Offset Act of 2000 (“CDSOA”). These distributions primarily represent amounts previously withheld by Customs pending the resolution of claims filed by certain manufacturers who did not support the antidumping petition (“Non-Supporting Producers”) challenging certain provisions of the CDSOA and seeking to share in the distributions. The Non-Supporting Producers’ claims were dismissed by the courts and all appeals were exhausted in 2014. While it is possible that we may receive additional distributions from Customs, we cannot estimate the likelihood or amount of any future distributions.

Note 14 - Recent Accounting Pro

Note 14 - Recent Accounting Pronouncements	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	14. Recent Accounting Pronouncements In April 2014, the FASB issued Accounting Standards Update No. 2014-08 (ASU 2014-08), which updated the guidance in ASC Topic 205, Presentation of Financial Statements, and ASC Topic 360, Property, Plant and Equipment. The amendments in ASU 2014-08 change the criteria for reporting discontinued operations for all public and nonpublic entities. The amendments also require new disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. This guidance will become effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years, and therefore will become effective for us as of the beginning of our 2016 fiscal year. The adoption of this guidance is not expected to have a material impact upon our financial condition or results of operations. In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (ASU 2014-09), which creates ASC Topic 606, Revenue from Contracts with Customers, and supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. In addition, ASU 2014-09 supersedes the cost guidance in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts, and creates new Subtopic 340-40, Other Assets and Deferred Costs—Contracts with Customers. In summary, the core principle of Topic 606 is to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. Companies are allowed to select between two transition methods: (1) a full retrospective transition method with the application of the new guidance to each prior reporting period presented, or (2) a retrospective transition method that recognizes the cumulative effect on prior periods at the date of adoption together with additional footnote disclosures. The amendments in ASU 2014-09 are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period, and early application is not permitted. Therefore the amendments in ASU 2014-09 will become effective for us as of the beginning of our 2019 fiscal year. We are currently evaluating the impact that the adoption of ASU 2014-09 will have on our consolidated financial statements and have not made any decision on the method of adoption . In January 2015, the FASB issued Accounting Standards Update No. 2015-01, Income Statement — Extraordinary and Unusual Items In July 2015, the FASB issued Accounting Standards Update No. 2015-11, Inventory

Note 15 - Segment Information

Note 15 - Segment Information	9 Months Ended
	Aug. 29, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 5 . Segment Information We have strategically aligned our business into three reportable segments as defined in ASC 280, Segment Reporting ● Wholesale. ● Retail – Company-owned s tores. ● Logistical services . Inter-company sales elimination represents the elimination of wholesale sales to our Company-owned stores and the elimination of Zenith logistics revenue from our wholesale and retail segments. Inter-company income elimination includes the embedded wholesale profit in the Company-owned store inventory that has not been realized. These profits will be recorded when merchandise is delivered to the retail consumer. The inter-company income elimination also includes rent paid by our retail stores occupying Company-owned real estate, and the elimination of shipping and handling charges from Zenith for services provided to our wholesale and retail operations. Prior to the beginning of fiscal 2015, our former investments and real estate segment included our short-term investments, our holdings of retail real estate previously leased as licensee stores, and our former equity investment in Zenith prior to acquisition. This segment has been eliminated and the assets formerly reported therein are now considered to be part of our wholesale segment. The earnings and costs associated with these assets, including our equity in the income of Zenith prior to the date of acquisition, will continue to be included in other loss, net, in our condensed consolidated statements of income. The following table presents our segment information: Quarter Ended Nine Months Ended August 29, 2015 August 30, 2014 August 29, 2015 August 30, 2014 Sales Revenue Wholesale $ 62,165 $ 56,069 $ 187,675 $ 163,339 Retail - Company-owned stores 62,009 53,987 183,113 154,401 Logistical services 23,650 - 51,607 - Inter-company eliminations: Furniture and accessories (27,067 ) (24,870 ) (84,666 ) (71,722 ) Logistical services (9,746 ) - (22,357 ) Consolidated $ 111,011 $ 85,186 $ 315,372 $ 246,018 Income (loss) from Operations Wholesale $ 3,795 $ 3,216 $ 11,518 $ 9,821 Retail - Company-owned stores 2,037 (167 ) 3,967 (2,605 ) Logistical services 1,070 - 2,089 - Inter-company elimination 790 350 683 1,160 Management restructuring costs - - (449 ) - Lease exit costs - - (419 ) - Asset impairment charges - - (106 ) - Consolidated $ 7,692 $ 3,399 $ 17,283 $ 8,376 Depreciation and Amortization Wholesale $ 501 $ 539 $ 1,539 $ 1,420 Retail - Company-owned stores 1,326 1,451 4,024 4,008 Logistical services 745 - 1,739 - Consolidated $ 2,572 $ 1,990 $ 7,302 $ 5,428 Capital Expenditures Wholesale $ 1,793 $ 788 $ 4,138 $ 4,013 Retail - Company-owned stores 1,448 2,690 5,326 11,674 Logistical services 100 - 1,819 - Consolidated $ 3,341 $ 3,478 $ 11,283 $ 15,687 As of As of August 29, 2015 November 29, 2014 Identifiable Assets Wholesale $ 137,228 $ 154,275 Retail - Company-owned stores 90,728 86,471 Logistical services 42,661 - Consolidated $ 270,617 $ 240,746

Note 3 - Business Combination21

Note 3 - Business Combination - Acquisition of Zenith (Tables)	9 Months Ended
	Aug. 29, 2015
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Fair value of consideration transferred in exchange for 51% of Zenith: Cash $ 9,000 Bassett common stock, 89,485 shares, par value $5.00 per share, fair value at closing $18.72 per share 1,675 Note payable 8,436 Total fair value of consideration transferred to seller 19,111 Less effective settlement of previous amounts payable to Zenith at acquisition (3,622 ) Total fair value of consideration net of effective settlement 15,489 Fair value of Bassett's previous 49% interest in Zenith 16,692 Total fair value of acquired business $ 32,181
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Identifiable assets acquired: Acquired cash and cash equivalents $ 1,677 Accounts receivable, net 3,399 Prepaid expenses and other current assets 496 Property and equipment 18,110 Other long-term assets 646 Intangible assets 6,362 Total identifiable assets acquired 30,690 Liabilities assumed: Accounts payable and accrued liabilities (4,038 ) Notes payable (4,329 ) Total liabilities assumed (8,367 ) Net identifiable assets acquired 22,323 Goodwill 9,858 Total net assets acquired $ 32,181
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Useful Life Description: In Years Fair Value Customer relationships 15 $ 3,038 Trade names Indefinite 2,490 Technology - customized applications 7 834 Total acquired intangible assets $ 6,362

Note 4 - Goodwill and Other I22

Note 4 - Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Aug. 29, 2015
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization: Customer relationships $ 3,038 $ (118 ) $ 2,920 Technology - customized applications 834 (70 ) 764 Total intangible assets subject to amortization 3,872 (188 ) 3,684 Intangibles not subject to amortization: Trade names 2,490 - 2,490 Goodwill 11,588 - 11,588 Total goodwill and other intangible assets $ 17,950 $ (188 ) $ 17,762
Schedule of Goodwill [Table Text Block]	Wholesale Retail Logistics Total Balance as of November 29, 2014 $ 1,129 $ 602 $ - $ 1,731 Goodwill arising from acquisition of Zenith 3,711 1,218 4,928 9,857 Balance as of August 29, 2015 $ 4,840 $ 1,820 $ 4,928 $ 11,588
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Remainder of fiscal 2015 $ 79 Fiscal 2016 322 Fiscal 2017 322 Fiscal 2018 322 Fiscal 2019 322 Fiscal 2020 322 Thereafter 1,995 Total $ 3,684

Note 5 - Accounts Receivable (T

Note 5 - Accounts Receivable (Tables)	9 Months Ended
	Aug. 29, 2015
Notes Tables
Schedule Of Accounts Receivable [Table Text Block]	August 29, 2015 November 29, 2014 Gross accounts receivable $ 20,840 $ 16,477 Allowance for doubtful accounts (1,295 ) (1,249 ) Accounts receivable, net $ 19,545 $ 15,228
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block]	Balance at November 29, 2014 $ 1,249 Acquired allowance on accounts receivable (Note 3) 209 Reductions to allowance, net (163 ) Balance at August 29, 2015 $ 1,295

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	9 Months Ended
	Aug. 29, 2015
Notes Tables
Schedule of Inventory, Current [Table Text Block]	August 29, 2015 November 29, 2014 Wholesale finished goods $ 34,275 $ 31,399 Work in process 334 298 Raw materials and supplies 12,007 8,109 Retail merchandise 28,455 26,428 Total inventories on first-in, first-out method 75,071 66,234 LIFO adjustment (7,859 ) (7,550 ) Reserve for excess and obsolete inventory (1,775 ) (1,412 ) $ 65,437 $ 57,272
Activity In Reserves For Excess Quantities And Obsolete Inventory By Segment [Table Text Block]	Wholesale Segment Retail Segment Total Balance at November 29, 2014 $ 1,060 $ 352 $ 1,412 Additions charged to expense 1,601 319 1,920 Write-offs (1,187 ) (370 ) (1,557 ) Balance at August 29, 2015 $ 1,474 $ 301 $ 1,775

Note 7 - Unconsolidated Affil25

Note 7 - Unconsolidated Affiliated Company (Tables)	9 Months Ended
	Aug. 29, 2015
Zenith Freight Lines [Member]
Notes Tables
Equity Method Investments [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2015 August 30, 2014 August 29, 2015 August 30, 2014 Earnings recognized $ - $ 190 $ 220 $ 534

Note 8 - Notes Payable and Ba26

Note 8 - Notes Payable and Bank Credit Facility (Tables)	9 Months Ended
	Aug. 29, 2015
Notes Tables
Schedule of Debt [Table Text Block]	August 29, 2015 Principal Balance Unamortized Discount Net Carrying Amount Zenith acquisition note payable $ 9,000 $ (388 ) $ 8,612 Transportation equipment notes payable 2,952 - 2,952 Real estate notes payable 3,272 - 3,272 Total debt 15,224 (388 ) 14,836 Less current portion (4,709 ) 233 (4,476 ) Total long-term debt $ 10,515 $ (155 ) $ 10,360 November 29, 2014 Principal Balance Unamortized Discount Net Carrying Amount Real estate notes payable $ 2,218 $ - $ 2,218 Less current portion (316 ) - (316 ) Total long-term debt $ 1,902 $ - $ 1,902
Schedule of Maturities of Long-term Debt [Table Text Block]	Remainder of fiscal 2015 $ 420 Fiscal 2016 5,688 Fiscal 2017 4,330 Fiscal 2018 3,855 Fiscal 2019 527 Fiscal 2020 404 Thereafter - $ 15,224

Note 9 - Commitments and Cont27

Note 9 - Commitments and Contingencies (Tables)	9 Months Ended
	Aug. 29, 2015
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Retail Stores Distribution Centers Transportation Equipment Total Remainder of fiscal 2015 $ 4,631 $ 961 $ 669 $ 6,261 Fiscal 2016 17,528 3,523 2,429 23,480 Fiscal 2017 14,793 3,074 1,709 19,576 Fiscal 2018 12,282 1,339 806 14,427 Fiscal 2019 10,389 379 755 11,523 Fiscal 2020 9,103 - 671 9,774 Thereafter 24,635 - 30 24,665 $ 93,361 $ 9,276 $ 7,069 $ 109,706

Note 10 - Post Employment Ben28

Note 10 - Post Employment Benefit Obligations (Tables)	9 Months Ended
	Aug. 29, 2015
Notes Tables
Schedule of Pension Liability [Table Text Block]	August 29, 2015 November 29, 2014 Accrued compensation and benefits $ 724 $ 724 Post employment benefit obligations 9,599 9,652 Total pension liability $ 10,323 $ 10,376 August 29, 2015 November 29, 2014 Accrued compensation and benefits $ 328 $ 328 Post employment benefit obligations 1,753 1,846 Total deferred compensation liability $ 2,081 $ 2,174
Schedule of Net Benefit Costs [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2015 August 30, 2014 August 29, 2015 August 30, 2014 Service cost $ 26 $ 20 $ 78 $ 59 Interest cost 94 93 281 279 Amortization of transition obligation 11 10 32 32 Amortization of loss 49 31 146 92 Net periodic pension cost $ 180 $ 154 $ 537 $ 462
Deferred Compensation Arrangement with Individual Disclosure, Postretirement Benefits [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2015 August 30, 2014 August 29, 2015 August 30, 2014 Deferred compensation expense (income) $ 54 $ (52 ) $ 162 $ 92

Note 11 - Earnings Per Share (T

Note 11 - Earnings Per Share (Tables)	9 Months Ended
	Aug. 29, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Net Income Weighted Average Shares Net Income Per Share For the quarter ended August 29, 2015: Basic earnings per share $ 4,266 10,816,293 $ 0.39 Add effect of dilutive securities: Options and restricted shares - 116,575 - Diluted earnings per share $ 4,266 10,932,868 $ 0.39 For the quarter ended August 30, 2014: Basic earnings per share $ 2,256 10,475,945 $ 0.22 Add effect of dilutive securities: Options and restricted shares - 135,209 (0.01 ) Diluted earnings per share $ 2,256 10,611,154 $ 0.21 For the nine months ended August 29, 2015: Basic earnings per share $ 14,751 10,658,416 $ 1.38 Add effect of dilutive securities: Options and restricted shares - 153,787 (0.02 ) Diluted earnings per share $ 14,751 10,812,203 $ 1.36 For the nine months ended August 30, 2014: Basic earnings per share $ 5,650 10,596,433 $ 0.54 Add effect of dilutive securities: Options and restricted shares - 138,627 (0.01 ) Diluted earnings per share $ 5,650 10,735,060 $ 0.53
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2015 August 30, 2014 August 29, 2015 August 30, 2014 Stock options - 207,500 - 207,500 Unvested shares 2,000 - 8,354 66,339 Total anti-dilutive securities 2,000 207,500 8,354 273,839

Note 13 - Asset Disposition, 30

Note 13 - Asset Disposition, Impairment Charges and Accured Lease Exit Costs, and Income from CDSOA (Tables)	9 Months Ended
	Aug. 29, 2015
Notes Tables
Schedule Of Activity Related To Accrued Lease Exit Costs [Table Text Block]	Balance at November 29, 2014 $ 433 Provisions associated with Company-owned retail store closures 419 Payments and other (185 ) Balance at August 29, 2015 $ 667 Current portion included in other accrued liabilities $ 402 Long-term portion included in other long-term liabilities 265 $ 667

Note 15 - Segment Information (

Note 15 - Segment Information (Tables)	9 Months Ended
	Aug. 29, 2015
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2015 August 30, 2014 August 29, 2015 August 30, 2014 Sales Revenue Wholesale $ 62,165 $ 56,069 $ 187,675 $ 163,339 Retail - Company-owned stores 62,009 53,987 183,113 154,401 Logistical services 23,650 - 51,607 - Inter-company eliminations: Furniture and accessories (27,067 ) (24,870 ) (84,666 ) (71,722 ) Logistical services (9,746 ) - (22,357 ) Consolidated $ 111,011 $ 85,186 $ 315,372 $ 246,018 Income (loss) from Operations Wholesale $ 3,795 $ 3,216 $ 11,518 $ 9,821 Retail - Company-owned stores 2,037 (167 ) 3,967 (2,605 ) Logistical services 1,070 - 2,089 - Inter-company elimination 790 350 683 1,160 Management restructuring costs - - (449 ) - Lease exit costs - - (419 ) - Asset impairment charges - - (106 ) - Consolidated $ 7,692 $ 3,399 $ 17,283 $ 8,376 Depreciation and Amortization Wholesale $ 501 $ 539 $ 1,539 $ 1,420 Retail - Company-owned stores 1,326 1,451 4,024 4,008 Logistical services 745 - 1,739 - Consolidated $ 2,572 $ 1,990 $ 7,302 $ 5,428 Capital Expenditures Wholesale $ 1,793 $ 788 $ 4,138 $ 4,013 Retail - Company-owned stores 1,448 2,690 5,326 11,674 Logistical services 100 - 1,819 - Consolidated $ 3,341 $ 3,478 $ 11,283 $ 15,687
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	As of As of August 29, 2015 November 29, 2014 Identifiable Assets Wholesale $ 137,228 $ 154,275 Retail - Company-owned stores 90,728 86,471 Logistical services 42,661 - Consolidated $ 270,617 $ 240,746

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual)	Feb. 02, 2015	Feb. 01, 2015
Zenith Freight Lines [Member]
Equity Method Investment, Ownership Percentage		49.00%
Zenith Freight Lines [Member]
Business Acquisition, Percentage of Voting Interests Acquired	51.00%

Note 3 - Business Combination33

Note 3 - Business Combination - Acquisition of Zenith (Details Textual)	Feb. 02, 2015USD ($)	Feb. 01, 2015USD ($)	Aug. 29, 2015USD ($)	Aug. 30, 2014USD ($)	Aug. 29, 2015USD ($)	Aug. 29, 2015USD ($)$ / shares	Aug. 30, 2014USD ($)
Zenith Freight Lines [Member]
Equity Method Investment, Ownership Percentage		49.00%
Equity Method Investments, Carrying Value Prior to Step Acquisition Remeasurement		$ 9,480,000
Zenith Freight Lines [Member] | Long-term Debt [Member]
Debt Instrument, Periodic Payment	$ 3,000,000
Zenith Freight Lines [Member]
Business Acquisition, Percentage of Voting Interests Acquired	51.00%
Business Combination, Consideration Transferred	$ 19,111,000					$ 19,111,000
Debt Instrument, Periodic Payment, Number of Installments	3
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value					$ 16,692,000	16,692,000
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain						$ 7,212,000
Basic Earnings Per Share Adjustment | $ / shares						$ 0.42
Diluted Earnings Per Share Adjustment | $ / shares						$ 0.41
Business Combination, Acquisition Related Costs			$ 0			$ 209,000
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual			13,904,000			29,250,000
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual			$ 629,000			1,220,000
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain						$ 7,212,000

Note 3 - Business Combination34

Note 3 - Business Combination - Acquisition of Zenith - Fair Value of Acquired Business (Details) - Zenith Freight Lines [Member]	9 Months Ended
	Aug. 29, 2015USD ($)
Cash	$ 9,000,000
Bassett common stock, 89,485 shares, par value $5.00 per share, fair value at closing $18.72 per share	1,675,000
Note payable	8,436,000
Total fair value of consideration transferred to seller	19,111,000
Less effective settlement of previous amounts payable to Zenith at acquisition	(3,622,000)
Total fair value of consideration net of effective settlement	15,489,000
Fair value of Bassett's previous 49% interest in Zenith	16,692,000
Total fair value of acquired business	$ 32,181,000

Note 3 - Business Combination35

Note 3 - Business Combination - Acquisition of Zenith - Allocation of Fair Value of the Acquired Business (Details)	Feb. 02, 2015USD ($)
Zenith Freight Lines [Member]
Acquired cash and cash equivalents	$ 1,677,000
Accounts receivable, net	3,399,000
Prepaid expenses and other current assets	496,000
Property and equipment	18,110,000
Other long-term assets	646,000
Intangible assets	6,362,000
Total identifiable assets acquired	30,690,000
Accounts payable and accrued liabilities	(4,038,000)
Notes payable	(4,329,000)
Total liabilities assumed	(8,367,000)
Net identifiable assets acquired	22,323,000
Goodwill	9,858,000
Total net assets acquired	$ 32,181,000

Note 3 - Business Combination36

Note 3 - Business Combination - Acquisition of Zenith - Acquired Identifiable Intangible Assets (Details) - Zenith Freight Lines [Member] $ in Thousands	9 Months Ended
	Aug. 29, 2015USD ($)
Customer Relationships [Member]
Useful Life In Years	15 years
Fair Value	$ 3,038
Technology-Based Intangible Assets [Member]
Useful Life In Years	7 years
Fair Value	$ 834
Trade Names [Member]
Fair Value	2,490
Fair Value	$ 6,362

Note 4 - Goodwill and Other I37

Note 4 - Goodwill and Other Intangible Assets (Details Textual) - USD ($)	3 Months Ended	9 Months Ended	12 Months Ended
	Aug. 29, 2015	Aug. 29, 2015	Nov. 29, 2014
Goodwill, Impaired, Accumulated Impairment Loss	$ 0	$ 0	$ 0
Amortization of Intangible Assets	80,000	188,000	0
Goodwill	$ 11,588,000	$ 11,588,000	$ 1,731,000

Note 4 - Goodwill and Other I38

Note 4 - Goodwill and Other Intangible Assets - Goodwill and Other Intangible Assets (Details) $ in Thousands	9 Months Ended
	Aug. 29, 2015USD ($)
Customer Relationships [Member]
Intangibles subject to amortization, Gross Carrying Amount	$ 3,038
Intangibles subject to amortization, Accumulated Amortization	(118)
Intangibles subject to amortization, Intangible Assets, Net	2,920
Technology-Based Intangible Assets [Member]
Intangibles subject to amortization, Gross Carrying Amount	834
Intangibles subject to amortization, Accumulated Amortization	(70)
Intangibles subject to amortization, Intangible Assets, Net	764
Intangibles subject to amortization, Gross Carrying Amount	3,872
Intangibles subject to amortization, Accumulated Amortization	(188)
Intangibles subject to amortization, Intangible Assets, Net	3,684
Trade names	2,490
Goodwill	11,588
Total goodwill and other intangible assets	17,950
Total goodwill and other intangible assets	$ 17,762

Note 4 - Goodwill and Other I39

Note 4 - Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill (Details) - USD ($)	9 Months Ended
	Aug. 29, 2015	Nov. 29, 2014
Wholesale Segment [Member]
Goodwill	$ 4,840,000	$ 1,129,000
Goodwill arising from acquisition of Zenith	3,711,000
Retail Segment [Member]
Goodwill	1,820,000	$ 602,000
Goodwill arising from acquisition of Zenith	1,218,000
Logistical Services [Member]
Goodwill	4,928,000
Goodwill arising from acquisition of Zenith	4,928,000
Goodwill	11,588,000	$ 1,731,000
Goodwill arising from acquisition of Zenith	$ 9,857,000

Note 4 - Goodwill and Other I40

Note 4 - Goodwill and Other Intangible Assets - Estimated Future Amortization Expense for Intangible Assets (Details) $ in Thousands	Aug. 29, 2015USD ($)
Remainder of fiscal 2015	$ 79
Fiscal 2,016	322
Fiscal 2,017	322
Fiscal 2,018	322
Fiscal 2,019	322
Fiscal 2,020	322
Thereafter	1,995
Total	$ 3,684

Note 5 - Accounts Receivable (D

Note 5 - Accounts Receivable (Details Textual) - Licensees [Member]	9 Months Ended	12 Months Ended
	Aug. 29, 2015	Nov. 29, 2014
Accounts Receivable [Member]
Concentration Risk, Percentage	37.00%	46.00%
Allowance for Doubtful Accounts Receivable [Member]
Concentration Risk, Percentage	55.00%	58.00%

Note 5 - Accounts Receivable -

Note 5 - Accounts Receivable - Accounts Receivable (Details) - USD ($) $ in Thousands	Aug. 29, 2015	Nov. 29, 2014
Gross accounts receivable	$ 20,840	$ 16,477
Allowance for doubtful accounts	(1,295)	(1,249)
Accounts receivable, net	$ 19,545	$ 15,228

Note 5 - Accounts Receivable 43

Note 5 - Accounts Receivable - Activity in Allowance for Doubtful Accounts (Details) $ in Thousands	9 Months Ended
	Aug. 29, 2015USD ($)
Zenith Freight Lines [Member]
Acquired allowance on accounts receivable (Note 3)	$ 209
Balance at November 29, 2014	1,249
Reductions to allowance, net	(163)
Balance at August 29, 2015	$ 1,295

Note 6 - Inventories - Inventor

Note 6 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Aug. 29, 2015	Nov. 29, 2014
Wholesale finished goods	$ 34,275	$ 31,399
Work in process	334	298
Raw materials and supplies	12,007	8,109
Retail merchandise	28,455	26,428
Total inventories on first-in, first-out method	75,071	66,234
LIFO adjustment	(7,859)	(7,550)
Reserve for excess and obsolete inventory	(1,775)	(1,412)
Inventory, net	$ 65,437	$ 57,272

Note 6 - Inventories - Activity

Note 6 - Inventories - Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment (Details) $ in Thousands	9 Months Ended
	Aug. 29, 2015USD ($)
Wholesale Segment [Member] | Operating Segments [Member]
Balance at November 29, 2014	$ 1,060
Additions charged to expense	1,601
Write-offs	(1,187)
Balance at August 29, 2015	1,474
Retail Segment [Member] | Operating Segments [Member]
Balance at November 29, 2014	352
Additions charged to expense	319
Write-offs	(370)
Balance at August 29, 2015	301
Balance at November 29, 2014	1,412
Additions charged to expense	1,920
Write-offs	(1,557)
Balance at August 29, 2015	$ 1,775

Note 7 - Unconsolidated Affil46

Note 7 - Unconsolidated Affiliated Company (Details Textual) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended		9 Months Ended
	Feb. 02, 2015	Aug. 29, 2015	Aug. 30, 2014	Aug. 29, 2015	Aug. 30, 2014	Feb. 01, 2015	Nov. 29, 2014
Zenith Freight Lines [Member]
Equity Method Investment, Ownership Percentage						49.00%
Equity Method Investments	$ 9,480						$ 7,915
Income (Loss) from Equity Method Investments	220
Investments in and Advances to Affiliates, at Fair Value, Gross Additions	1,345
Capital Contributions Made to Unconsolidated Affiliated Companies	$ 2,745
Due to Affiliate							$ 2,628
Income (Loss) from Equity Method Investments			$ 190	$ 220	$ 534

Note 7 - Unconsolidated Affil47

Note 7 - Unconsolidated Affiliated Company - Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2015	Aug. 30, 2014	Aug. 29, 2015	Aug. 30, 2014
Earnings recognized		$ 190	$ 220	$ 534

Note 8 - Notes Payable and Ba48

Note 8 - Notes Payable and Bank Credit Facility (Details Textual) $ in Thousands	Feb. 02, 2015USD ($)	Aug. 29, 2015USD ($)	Aug. 29, 2015USD ($)	Nov. 29, 2014USD ($)
Minimum [Member] | Transportation Equipment Notes Payable [Member]
Debt Instrument, Term			1 year 330 days
Debt Instrument, Interest Rate, Stated Percentage		3.75%	3.75%
Maximum [Member] | Transportation Equipment Notes Payable [Member]
Debt Instrument, Term			3 years 210 days
Debt Instrument, Interest Rate, Stated Percentage		2002.00%	2002.00%
Transportation Equipment Notes Payable [Member] | Tractors, Trailers and Local Delivery Trucks [Member]
Debt Instrument, Collateral Amount		$ 4,582	$ 4,582
Transportation Equipment Notes Payable [Member]
Secured Debt		2,952	2,952
Secured Debt, Current		1,115	1,115
Long-term Debt		2,952	2,952
Unsecured Debt [Member] | Zenith Freight Lines [Member]
Debt Instrument, Face Amount	$ 9,000
Debt Instrument, Number of Annual Payments	3
Debt Instrument, Periodic Payment	$ 3,000
Debt Instrument, Interest Rate, Stated Percentage	0.62%
Amortization of Debt Discount (Premium)		76	177
Debt Instrument, Carrying Amount, Current		2,767	2,767
Real Estate Notes Payable Operated in Retail Segment [Member] | Financed Through Commercial Mortgages [Member]
Debt Instrument, Collateral Amount		$ 6,026	$ 6,026	$ 6,127
Real Estate Notes Payable Operated in Retail Segment [Member]
Debt Instrument, Interest Rate, Stated Percentage		6.73%	6.73%
Secured Debt, Current		$ 332	$ 332	316
Long-term Debt		1,983	1,983	2,218
Real Estate Notes Payable Operated in Logistical Services Segment [Member] | Land and Building [Member]
Debt Instrument, Collateral Amount		$ 6,203	$ 6,203
Real Estate Notes Payable Operated in Logistical Services Segment [Member]
Debt Instrument, Interest Rate, Stated Percentage		3.75%	3.75%
Secured Debt		$ 1,289	$ 1,289
Secured Debt, Current		262	262
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid		1,004	1,004
Debt Instrument, Carrying Amount, Current		4,709	4,709	$ 316
Long-term Debt		14,836	14,836
Line of Credit Facility, Maximum Borrowing Capacity		15,000	15,000
Letters of Credit Outstanding, Amount		$ 13,175	$ 13,175

Note 8 - Notes Payable and Ba49

Note 8 - Notes Payable and Bank Credit Facility - Real Estate Notes Payable and Bank Debt (Details) - USD ($) $ in Thousands	Aug. 29, 2015	Nov. 29, 2014
Zenith Note Payable [Member]
Principal Balance	$ 9,000
Unamortized Discount	(388)
Long-term Debt	8,612
Real Estate Notes Payable [Member]
Principal Balance	3,272	$ 2,218
Long-term Debt	3,272	2,218
Transportation Equipment Notes Payable [Member]
Principal Balance	2,952
Long-term Debt	2,952
Principal Balance	15,224
Unamortized Discount	(388)
Long-term Debt	14,836
Principal Balance	(4,709)	(316)
Unamortized Discount	233
Net Carrying Amount	(4,476)	(316)
Principal Balance	10,515	1,902
Unamortized Discount	(155)
Net Carrying Amount	$ 10,360	$ 1,902

Note 8 - Notes Payable and Ba50

Note 8 - Notes Payable and Bank Credit Facility - Maturities of Notes Payable (Details) $ in Thousands	Aug. 29, 2015USD ($)
Remainder of fiscal 2015	$ 420
Fiscal 2,016	5,688
Fiscal 2,017	4,330
Fiscal 2,018	3,855
Fiscal 2,019	527
Fiscal 2,020	404
Total repayments of principal	$ 15,224

Note 9 - Commitments and Cont51

Note 9 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Aug. 29, 2015	Nov. 29, 2014
Minimum [Member] | Transportation Equipment [Member]
Lessee Leasing Arrangements, Operating Leases, Term of Contract	2 years
Minimum [Member]
Operating Lease, Lease Term	1 year
Renewal Term On Operating Lease	5 years
Lease Guarantees Term	1 year
Maximum [Member] | Transportation Equipment [Member]
Lessee Leasing Arrangements, Operating Leases, Term of Contract	7 years
Maximum [Member]
Operating Lease, Lease Term	15 years
Renewal Term On Operating Lease	15 years
Lease Guarantees Term	10 years
Lease Obligations of Licensee Operators [Member]
Loss Contingency, Estimate of Possible Loss	$ 2,594	$ 3,164

Note 9 - Commitments and Cont52

Note 9 - Commitments and Contingencies - Future Minimum Lease Payments under the Non-Cancelable Operating Leases (Details) $ in Thousands	Aug. 29, 2015USD ($)
Retail Stores [Member]
Remainder of fiscal 2015	$ 4,631
Fiscal 2,016	17,528
Fiscal 2,017	14,793
Fiscal 2,018	12,282
Fiscal 2,019	10,389
Fiscal 2,020	9,103
Thereafter	24,635
Total	93,361
Distribution Centers [Member]
Remainder of fiscal 2015	961
Fiscal 2,016	3,523
Fiscal 2,017	3,074
Fiscal 2,018	1,339
Fiscal 2,019	$ 379
Fiscal 2,020
Thereafter
Total	$ 9,276
Transportation Equipment Leases [Member]
Remainder of fiscal 2015	669
Fiscal 2,016	2,429
Fiscal 2,017	1,709
Fiscal 2,018	806
Fiscal 2,019	755
Fiscal 2,020	671
Thereafter	30
Total	7,069
Remainder of fiscal 2015	6,261
Fiscal 2,016	23,480
Fiscal 2,017	19,576
Fiscal 2,018	14,427
Fiscal 2,019	11,523
Fiscal 2,020	9,774
Thereafter	24,665
Total	$ 109,706

Note 10 - Post Employment Ben53

Note 10 - Post Employment Benefit Obligations (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Aug. 30, 2014	Aug. 29, 2015	Nov. 29, 2014
Supplemental Employee Retirement Plan [Member]
Postemployment Benefits Liability		$ 10,323	$ 10,376
Postemployment Benefits Liability, Noncurrent		9,599	9,652
Unfunded Deferred Compensation Plan [Member]
Postemployment Benefits Liability, Noncurrent		2,081	2,174
Postemployment Benefits Liability, Noncurrent		$ 11,353	$ 11,498
Change of Estimate of Future Obligation to Former Employee, Effect on Income	$ 124

Note 10 - Post Employment Ben54

Note 10 - Post Employment Benefit Obligations - Pension Liability (Details) - USD ($) $ in Thousands	Aug. 29, 2015	Nov. 29, 2014
Supplemental Employee Retirement Plan [Member]
Accrued compensation and benefits	$ 724	$ 724
Postemployment Benefits Liability, Noncurrent	9,599	9,652
Total pension liability	10,323	10,376
Unfunded Deferred Compensation Plan [Member]
Accrued compensation and benefits	328	328
Postemployment Benefits Liability, Noncurrent	1,753	1,846
Total pension liability	2,081	2,174
Postemployment Benefits Liability, Noncurrent	$ 11,353	$ 11,498

Note 10 - Post Employment Ben55

Note 10 - Post Employment Benefit Obligations - Components of Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2015	Aug. 30, 2014	Aug. 29, 2015	Aug. 30, 2014
Service cost	$ 26	$ 20	$ 78	$ 59
Interest cost	94	93	281	279
Amortization of transition obligation	11	10	32	32
Amortization of loss	49	31	146	92
Net periodic pension cost	$ 180	$ 154	$ 537	$ 462

Note 10 - Post Employment Ben56

Note 10 - Post Employment Benefit Obligations - Deferred Compensation Arrangement Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2015	Aug. 30, 2014	Aug. 29, 2015	Aug. 30, 2014
Deferred compensation expense (income)	$ 54	$ (52)	$ 162	$ 92

Note 11 - Earnings Per Share -

Note 11 - Earnings Per Share - Reconciliation of Basic and Diluted Loss Per Share (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2015	Aug. 30, 2014	Aug. 29, 2015	Aug. 30, 2014
Basic earnings per share	$ 4,266	$ 2,256	$ 14,751	$ 5,650
Basic earnings per share (in shares)	10,816,293	10,475,945	10,658,416	10,596,433
Basic earnings per share (in dollars per share)	$ 0.39	$ 0.22	$ 1.38	$ 0.54
Options and restricted shares (in shares)	116,575	135,209	153,787	138,627
Diluted earnings per share	$ 4,266	$ 2,256	$ 14,751	$ 5,650
Diluted earnings per share (in shares)	10,932,868	10,611,154	10,812,203	10,735,060
Diluted earnings per share (in dollars per share)	$ 0.39	$ 0.21	$ 1.36	$ 0.53
Basic earnings per share	$ 4,266	$ 2,256	$ 14,751	$ 5,650
Options and restricted shares (in dollars per share)		$ (0.01)	$ (0.02)	$ (0.01)

Note 11 - Earnings Per Share 58

Note 11 - Earnings Per Share - Antidilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Aug. 29, 2015	Aug. 30, 2014	Aug. 29, 2015	Aug. 30, 2014
Employee Stock Option [Member]
Antidilutive securities (in shares)		207,500		207,500
Restricted Stock [Member]
Antidilutive securities (in shares)	2,000		8,354	66,339
Antidilutive securities (in shares)	2,000	207,500	8,354	273,839

Note 12 - Financial Instrumen59

Note 12 - Financial Instruments and Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Aug. 29, 2015	Nov. 29, 2014
Minimum [Member]
Certificates of Deposit Terms	180 days
Interest Rate of Certificates of Deposit	0.28%
Maximum [Member]
Certificates of Deposit Terms	1 year
Interest Rate of Certificates of Deposit	1.00%
Weighted Average [Member]
Certificates of Deposit Terms	300 days
Interest Rate of Certificates of Deposit	0.42%
Short-term Investments	$ 23,125	$ 23,125

Note 13 - Asset Disposition, 60

Note 13 - Asset Disposition, Impairment Charges and Accured Lease Exit Costs, and Income from CDSOA (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Aug. 29, 2015	Aug. 30, 2014	Aug. 29, 2015	Aug. 29, 2015	Aug. 30, 2014	Mar. 12, 2015
Sugarland Real Estate [Member]
Impairment of Real Estate				$ 182
Leasehold Improvements [Member]
Asset Impairment Charges				106
Employee Severance [Member]
Restructuring Charges				449
Payments for Restructuring			$ 254
Restructuring Reserve, Current	$ 195		$ 195	195
Disposal Group, Including Discontinued Operation, Assets						$ 2,835
Gain (Loss) on Contract Termination				(419)
Asset Impairment Charges				106
Restructuring Charges				449
Income from Continued Dumping and Subsidy Offset Act				$ 1,066

Note 13 - Asset Disposition, 61

Note 13 - Asset Disposition, Impairment Charges and Accured Lease Exit Costs, and Income from CDSOA - Activity Related to Our Accrued Lease Exit Costs (Details) - USD ($) $ in Thousands	9 Months Ended
	Aug. 29, 2015	Aug. 29, 2015
Balance at November 29, 2014	$ 433
Provisions associated with Company-owned retail store closures	419
Payments and other	(185)
Balance at August 29, 2015	667
Current portion included in other accrued liabilities		$ 402
Long-term portion included in other long-term liabilities		265
Accrued lease exit costs	$ 433	$ 667

Note 15 - Segment Information62

Note 15 - Segment Information (Details Textual) $ in Thousands	3 Months Ended	9 Months Ended
	Aug. 29, 2015USD ($)	Aug. 29, 2015USD ($)
Zenith Freight Lines [Member]
Business Combination, Pro Forma Information Operating Costs of Acquiree Since Acquisition Date, Actual	$ 22,580	$ 49,517
Number of Reportable Segments		3

Note 15 - Segment Information -

Note 15 - Segment Information - Segment Information, by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2015	Aug. 30, 2014	Aug. 29, 2015	Aug. 30, 2014
Wholesale Segment [Member] | Operating Segments [Member] | Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]
Capital expenditures	$ 1,793	$ 788	$ 4,138	$ 4,013
Wholesale Segment [Member] | Operating Segments [Member]
Sales revenues	62,165	56,069	187,675	163,339
Income (loss) from operations	3,795	3,216	11,518	9,821
Depreciation and amortization	501	539	1,539	1,420
Company-owned Retail Stores [Member] | Operating Segments [Member] | Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]
Capital expenditures	1,448	2,690	5,326	11,674
Company-owned Retail Stores [Member] | Operating Segments [Member]
Sales revenues	62,009	53,987	183,113	154,401
Income (loss) from operations	2,037	(167)	3,967	(2,605)
Depreciation and amortization	1,326	$ 1,451	4,024	$ 4,008
Logistical Services [Member] | Operating Segments [Member] | Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]
Capital expenditures	100		1,819
Logistical Services [Member] | Operating Segments [Member]
Sales revenues	23,650		51,607
Income (loss) from operations	1,070		2,089
Depreciation and amortization	745		1,739
Logistical Services [Member] | Intersegment Eliminations [Member]
Sales revenues	(9,746)		(22,357)
Furniture and Accessories [Member] | Intersegment Eliminations [Member]
Sales revenues	(27,067)	$ (24,870)	(84,666)	$ (71,722)
Intersegment Eliminations [Member]
Income (loss) from operations	790	350	683	1,160
Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]
Capital expenditures	3,341	3,478	11,283	15,687
Sales revenues	111,011	85,186	315,372	246,018
Income (loss) from operations	$ 7,692	$ 3,399	17,283	$ 8,376
Management restructuring costs			(449)
Lease exit costs			(419)
Asset impairment charges			(106)
Depreciation and amortization	$ 2,572	$ 1,990	7,302	$ 5,428
Capital expenditures			$ 11,283	$ 15,210

Note 15 - Segment Information64

Note 15 - Segment Information - Segment Information - Indentifiable Assets (Details) - USD ($) $ in Thousands	Aug. 29, 2015	Nov. 29, 2014
Wholesale Segment [Member] | Operating Segments [Member]
Identifiable Assets
Identifiable assets	$ 137,228	$ 154,275
Company-owned Retail Stores [Member] | Operating Segments [Member]
Identifiable Assets
Identifiable assets	90,728	$ 86,471
Logistical Services [Member] | Operating Segments [Member]
Identifiable Assets
Identifiable assets	42,661
Identifiable assets	$ 270,617	$ 240,746