Bassett Furniture Industries (BSET) 10-Q 29 Sep 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Aug. 27, 2016	Sep. 16, 2016
Document Information [Line Items]
Entity Registrant Name	BASSETT FURNITURE INDUSTRIES INC
Entity Central Index Key	10,329
Trading Symbol	bset
Current Fiscal Year End Date	--11-26
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)		10,801,148
Document Type	10-Q
Document Period End Date	Aug. 27, 2016
Document Fiscal Year Focus	2,016
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. 27, 2016	Aug. 29, 2015	Aug. 27, 2016	Aug. 29, 2015
Sales revenue:
Furniture and accessories	$ 91,465	$ 97,107	$ 276,857	$ 286,122
Logistics	13,247	13,904	41,395	29,250
Total sales revenue	104,712	111,011	318,252	315,372
Cost of furniture and accessories sold	40,091	44,824	124,496	133,676
Selling, general and administrative expenses excluding new store pre-opening costs	56,800	58,303	173,845	163,203
New store pre-opening costs	281	192	727	236
Lease exit costs				419
Asset impairment charges				106
Management restructuring costs				449
Income from operations	7,540	7,692	19,184	17,283
Remeasurement gain on acquisition of affiliate				7,212
Income from Continued Dumping & Subsidy Offset Act				1,066
Other loss, net	(647)	(472)	(1,904)	(1,692)
Income before income taxes	6,893	7,220	17,280	23,869
Income tax expense	2,728	2,954	6,496	9,118
Net income	4,165	4,266	10,784	14,751
Retained earnings-beginning of period	125,563	115,149	120,904	106,339
Cash dividends	(1,093)	(1,029)	(3,053)	(2,704)
Retained earnings-end of period	$ 128,635	$ 118,386	$ 128,635	$ 118,386
Basic earnings per share (in dollars per share)	$ 0.39	$ 0.39	$ 1	$ 1.38
Diluted earnings per share (in dollars per share)	0.38	0.39	0.99	1.36
Dividends per share (in dollars per share)	$ 0.10	$ 0.09	$ 0.28	$ 0.25

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 27, 2016	Aug. 29, 2015	Aug. 27, 2016	Aug. 29, 2015
Net income	$ 4,165	$ 4,266	$ 10,784	$ 14,751
Other comprehensive income:
Amortization associated with supplemental executive retirement defined benefit plan (SERP)	92	60	275	177
Income taxes related to SERP	(35)	(23)	(105)	(67)
Other comprehensive income, net of tax	57	37	170	110
Total comprehensive income	$ 4,222	$ 4,303	$ 10,954	$ 14,861

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Aug. 27, 2016	Nov. 28, 2015
Current assets
Cash and cash equivalents	$ 28,051	$ 36,268
Short-term investments	23,125	23,125
Accounts receivable, net	19,302	21,197
Inventories	53,413	59,896
Other current assets	11,519	6,798
Total current assets	135,410	147,284
Property and equipment, net	105,595	96,104
Deferred income taxes	9,006	13,471
Goodwill and other intangible assets	17,440	17,682
Other	8,048	8,002
Total long-term assets	34,494	39,155
Total assets	275,499	282,543
Current liabilities
Accounts payable	19,569	20,916
Accrued compensation and benefits	11,927	14,345
Customer deposits	20,132	23,999
Dividends payable		2,184
Current portion of long-term debt	5,003	5,273
Other accrued liabilities	11,077	13,133
Total current liabilities	67,708	79,850
Long-term liabilities
Post employment benefit obligations	12,634	12,694
Notes payable	9,077	8,500
Other long-term liabilities	3,915	4,133
Total long-term liabilities	25,626	25,327
Stockholders’ equity
Common stock	54,114	54,580
Retained earnings	128,635	120,904
Additional paid-in capital	1,924	4,560
Accumulated other comprehensive loss	(2,508)	(2,678)
Total stockholders' equity	182,165	177,366
Total liabilities and stockholders’ equity	$ 275,499	$ 282,543

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Aug. 27, 2016	Aug. 29, 2015
Operating activities:
Net income	$ 10,784	$ 14,751
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	8,866	7,302
Equity in undistributed income of investments and unconsolidated affiliated companies		(220)
Provision for restructuring and 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	590	933
Deferred income taxes	4,360	3,778
Excess tax benefits from stock-based compensation	87	2,008
Other, net	256	1,445
Changes in operating assets and liabilities:
Accounts receivable	2,334	(751)
Inventories	6,483	(8,165)
Other current assets	(4,721)	(21)
Customer deposits	(3,867)	(3,196)
Accounts payable and accrued liabilities	(6,207)	2,158
Net cash provided by operating activities	18,965	13,335
Investing activities:
Purchases of property and equipment	(18,955)	(11,283)
Proceeds from sales of property and equipment	632	2,952
Cash paid for business acquisition, net of cash acquired		(7,323)
Capital contribution to affiliate		(1,345)
Net cash used in investing activities	(18,323)	(16,999)
Financing activities:
Cash dividends	(5,238)	(4,806)
Proceeds from the exercise of stock options	114	4,018
Other issuance of common stock	182	254
Repurchases of common stock	(3,989)	(1,374)
Taxes paid related to net share settlement of equity awards	(77)	(178)
Repayments of notes payable	(7,235)	(1,630)
Proceeds from equipment loans	7,384	1,307
Net cash used in financing activities	(8,859)	(2,409)
Change in cash and cash equivalents	(8,217)	(6,073)
Cash and cash equivalents - beginning of period	36,268	26,673
Cash and cash equivalents - end of period	$ 28,051	$ 20,600

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Aug. 27, 2016
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 (“FASB”) 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 below. 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. 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 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. Adoption of Accounting Standards Update 2016-09 In March 2016, the FASB issued Accounting Standards Update No. 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting The impact of early adoption resulted in the following: ● We recorded $46 and $87 of tax benefits within income tax expense for the three and nine months ended August 27, 2016 related to the excess tax benefit on stock based compensation. Prior to adoption this amount this amount would have been recorded as additional paid-in capital. This change could create future volatility in our effective tax rate depending upon the amount of exercise or vesting activity from our stock based awards. ● We elected to recognized forfeitures as they occur. There was no cumulative effect adjustment as a result of the adoption of this amendment on a modified retrospective basis. ● We elected to apply the change in classification of cash flows resulting from excess tax benefits or deficiencies on a retrospective basis. Accordingly, $2,008 of excess tax benefits previously reported as a cash flow provided by financing activities during the nine months ended August 29, 2015 has been reclassified to be included in cash flows provided by operating activities. ● We excluded the excess tax benefits from the assumed proceeds available to repurchase shares in the computation of our diluted earnings per share for the three and nine months ended August 27, 2016. The effect of this change on our diluted earnings per share was not significant. ● ASU 2016-09 also requires the presentation of employee taxes paid by the Company through the withholding of shares as a financing activity on the statement of cash flows, which is where we had previously reclassified these items. The impact of the adoption of this standard retroactively as of November 29, 2015 (the first day of our fiscal year 2016), was not significant as there was no significant award vesting or settlement activity during the first quarter of fiscal 2016. There were no other material impacts to our consolidated financial statements as a result of adopting this updated standard.

Note 2 - Interim Financial Pres

Note 2 - Interim Financial Presentation	9 Months Ended
	Aug. 27, 2016
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 27, 2016 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 28, 2015. 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 month periods ended August 27, 2016 and August 29, 2015 differ from the federal statutory rate primarily due to the effects of state income taxes and various permanent differences including the favorable impact of the Section 199 manufacturing deduction.

Note 3 - Business Combination -

Note 3 - Business Combination - Acquisition of Zenith	9 Months Ended
	Aug. 27, 2016
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 expired 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 8, 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 was 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 allocation of the fair value of the acquired business is as follows: Allocation of the fair value of consideration transferred: 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. Approximately $6,982 of the acquired goodwill 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 was assigned to identifiable intangible assets as follows: Description: Useful Life 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. The revenue and pre-tax profit of Zenith that is included in our condensed consolidated statements of income is as follows: Quarter Ended Nine Months Ended August 27, 2016 August 29, 2015 August 27, 2016 August 29, 2015 (1) Zenith revenue (2) $ 13,247 $ 13,904 $ 41,395 $ 29,250 Zenith pre-tax income $ 608 $ 1,022 $ 1,917 $ 1,984 (1) From date of acquisition, February 2, 2015. (2) Net of eliminated inter-company transactions. See Note 14. 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 - Financial Instruments

Note 4 - Financial Instruments and Fair Value Measurements	9 Months Ended
	Aug. 27, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4. 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 notes payable/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 27, 2016 and November 28, 2015 consisted of certificates of deposit (CDs) with original terms of twelve months, bearing interest at rates ranging from 0.28% to 1.00%. At August 27, 2016, the weighted average remaining time to maturity of the CDs was approximately ten months and the weighted average yield of the CDs was approximately 0.65%. Each CD is placed with a Federally insured financial institution and all deposits are within Federal deposit insurance limits. Due to the nature of these investments and their relatively short maturities, the carrying amount of the short-term investments at August 27, 2016 and November 28, 2015 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 9) 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 11) which utilize Level 3 inputs.

Note 5 - Accounts Receivable

Note 5 - Accounts Receivable	9 Months Ended
	Aug. 27, 2016
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	5. Accounts Receivable Accounts receivable consists of the following: August 27, 2016 November 28, 2015 Gross accounts receivable $ 20,146 $ 22,372 Allowance for doubtful accounts (844 ) (1,175 ) Accounts receivable, net $ 19,302 $ 21,197 Activity in the allowance for doubtful accounts for the nine months ended August 27, 2016 was as follows: Balance at November 28, 2015 $ 1,175 Reductions to allowance (331 ) Balance at August 27, 2016 $ 844 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. 27, 2016
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 27, 2016 November 28, 2015 Wholesale finished goods $ 24,819 $ 31,253 Work in process 375 318 Raw materials and supplies 10,771 9,793 Retail merchandise 26,899 27,680 Total inventories on first-in, first-out method 62,864 69,044 LIFO adjustment (8,015 ) (7,751 ) Reserve for excess and obsolete inventory (1,436 ) (1,397 ) $ 53,413 $ 59,896 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 28, 2015 $ 1,087 $ 310 $ 1,397 Additions charged to expense 1,523 386 1,909 Write-offs (1,485 ) (385 ) (1,870 ) Balance at August 27, 2016 $ 1,125 $ 311 $ 1,436 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 2016 and do not anticipate that our methodology is likely to change in the future.

Note 7 - Goodwill and Other Int

Note 7 - Goodwill and Other Intangible Assets	9 Months Ended
	Aug. 27, 2016
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	7. Goodwill and Other Intangible Assets Goodwill and other intangible assets consisted of the following: August 27, 2016 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization Customer relationships $ 3,038 $ (321 ) $ 2,717 Technology - customized applications 834 (189 ) 645 Total intangible assets subject to amortization 3,872 (510 ) 3,362 Intangibles not subject to amortization: Trade names 2,490 - 2,490 Goodwill 11,588 - 11,588 Total goodwill and other intangible assets $ 17,950 $ (510 ) $ 17,440 November 28, 2015 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization Customer relationships $ 3,038 $ (169 ) $ 2,869 Technology - customized applications 834 (99 ) 735 Total intangible assets subject to amortization 3,872 (268 ) 3,604 Intangibles not subject to amortization: Trade names 2,490 - 2,490 Goodwill 11,588 - 11,588 Total goodwill and other intangible assets $ 17,950 $ (268 ) $ 17,682 The carrying amounts of goodwill by reportable segment at both August 27, 2016 and November 28, 2015 were as follows: Wholesale $ 4,839 Retail 1,820 Logistical services 4,929 Total goodwill $ 11,588 There were no accumulated impairment losses on goodwill as of August 27, 2016 or November 28, 2015. Amortization expense associated with intangible assets during the three and nine months ended August 27, 2016 and August 29, 2015 was as follows: Quarter Ended Nine Months Ended August 27, 2016 August 29, 2015 August 27, 2016 August 29, 2015 Intangible asset amortization expense $ 80 $ 80 $ 241 $ 188

Note 8 - Unconsolidated Affilia

Note 8 - Unconsolidated Affiliate	9 Months Ended
	Aug. 27, 2016
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	8. Unconsolidated Affiliate Prior to February 2, 2015 we owned 49% of Zenith and accounted for our investment under the equity method. The balance of our investment in Zenith was adjusted for our equity in the earnings of Zenith through February 2, 2015 of $220 (included in other loss, net in our condensed consolidated statement of income for the nine months ended August 29, 2015), 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 remeasurement gain of $7,212.

Note 9 - Notes Payable and Bank

Note 9 - Notes Payable and Bank Credit Facility	9 Months Ended
	Aug. 27, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	9 . Notes Payable and Bank Credit Facility Our notes payable consist of the following: August 27, 2016 Principal Balance Unamortized Discount Net Carrying Amount Zenith acquisition note payable $ 6,000 $ (154 ) $ 5,846 Transportation equipment notes payable 6,787 - 6,787 Real estate notes payable 1,447 - 1,447 Total Debt 14,234 (154 ) 14,080 Less current portion (5,125 ) 122 (5,003 ) Total long-term debt $ 9,109 $ (32 ) $ 9,077 November 28, 2015 Principal Balance Unamortized Discount Net Carrying Amount Zenith acquisition note payable $ 9,000 $ (312 ) $ 8,688 Transportation equipment notes payable 2,152 - 2,152 Real estate notes payable 2,933 - 2,933 Total Debt 14,085 (312 ) 13,773 Less current portion (5,477 ) 204 (5,273 ) Total long-term debt $ 8,608 $ (108 ) $ 8,500 The future maturities of our notes payable are as follows: Remainder of fiscal 2016 $ 503 Fiscal 2017 5,171 Fiscal 2018 5,246 Fiscal 2019 2,324 Fiscal 2020 990 Fiscal 2021 - Thereafter - $ 14,234 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, payable in three annual installments of $3,000 due on each anniversary of the note, the first installment having been paid on 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, having reset to the current rate of 1.14% on February 2, 2016. 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 was $46 and $158 for the three and nine months ended August 27, 2016, respectively, and $76 and $177 for the three and nine months ended August 29, 2015, respectively. The current portion of the note due within one year, including unamortized discount, was $2,878 and $2,796 at August 27, 2016 and November 28, 2015, respectively. Transportation Equipment Notes Payable Certain of the transportation equipment operated in our logistical services segment is financed by notes payable in the amount of $6,787 and $2,152 at August 27, 2016 and November 28, 2015, respectively. These notes are payable in fixed monthly payments of principal and interest at variable rates of approximately 2.69% at August 27, 2016, with remaining terms of forty to fifty months. The current portion of these notes due within one year was $1,756 and $901 at August 27, 2016 and November 28, 2015, respectively. The notes are secured by tractors, trailers and local delivery trucks with a total net book value of $7,948 and $3,796 at August 27, 2016 and November 28, 2015, respectively. Real Estate Notes Payable Certain of our retail real estate properties have been financed through commercial mortgages with outstanding principal totaling $1,447 and $1,709 at August 27, 2016 and November 28, 2015, respectively. The mortgages bear interest at fixed rates of 6.73%. They are collateralized by the respective properties with net book values totaling approximately $5,892 and $5,993 at August 27, 2016 and November 28, 2015, respectively. The current portion of these mortgages due within one year was $369 and $351 as of August 27, 2016 and November 28, 2015, respectively. Certain of the real estate located in Conover, North Carolina and operated in our logistical services segment was subject to a note payable in the amount of $1,224 at November 28, 2015, all of which was classified as current at that time. The remaining balance due on this note was paid in full during the third quarter of fiscal 2016. Fair Value We believe that the carrying amount of our notes payable approximates fair value at both August 27, 2016 and November 28, 2015. 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 Effective December 5, 2015, we entered into a new credit facility with our bank which provides for a line of credit of up to $15,000. This credit facility, which matures in December of 2018, is unsecured and 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. At August 27, 2016, we had $1,970 outstanding under standby letters of credit against our line, leaving availability under our credit line of $13,030. In addition, we have outstanding standby letters of credit with another bank totaling $381.

Note 10 - Post Employment Benef

Note 10 - Post Employment Benefit Obligations	9 Months Ended
	Aug. 27, 2016
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 $11,693 and $11,678 as of August 27, 2016 and November 28, 2015, respectively, and is recorded as follows in the condensed consolidated balance sheets: August 27, 2016 November 28, 2015 Accrued compensation and benefits $ 749 $ 749 Post employment benefit obligations 10,944 10,929 Total pension liability $ 11,693 $ 11,678 Components of net periodic pension costs are as follows: Quarter Ended Nine Months Ended August 27, 2016 August 29, 2015 August 27, 2016 August 29, 2015 Service cost $ 36 $ 26 $ 109 $ 78 Interest cost 106 94 317 281 Amortization of transition obligation 11 11 32 32 Amortization of loss 81 49 243 146 Net periodic pension cost $ 234 $ 180 $ 701 $ 537 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 $2,010 and $2,085 as of August 27, 2016 and November 28, 2015, respectively, and is recorded as follows in the condensed consolidated balance sheets: August 27, 2016 November 28, 2015 Accrued compensation and benefits $ 320 $ 320 Post employment benefit obligations 1,690 1,765 Total deferred compensation liability $ 2,010 $ 2,085 We recognized expense under this plan during the three and nine months ended August 27, 2016 and August 29, 2015 as follows: Quarter Ended Nine Months Ended August 27, 2016 August 29, 2015 August 27, 2016 August 29, 2015 Deferred compensation expense $ 57 $ 54 $ 171 $ 162

Note 11 - Litigation Gain, Impa

Note 11 - Litigation Gain, Impairment Charges and Accrued Lease Exit Costs	9 Months Ended
	Aug. 27, 2016
Notes to Financial Statements
Restructuring, Impairment, and Other Activities Disclosure [Text Block]	11 . Litigation Gain, Impairment Charges and Accrued Lease Exit Costs Income from Antitrust Litigation Settlement Cost of furniture and accessories sold for the three and nine months ended August 27, 2016 includes the benefit of $1,428 of income we received from the settlement of class action litigation. This benefit is included in our wholesale segment. We were a member of the certified class of consumers that were plaintiffs in the Polyurethane Foam Antitrust Litigation against various producers of flexible polyurethane foam. The litigation alleged a price-fixing conspiracy in the flexible polyurethane foam industry that caused indirect purchasers to pay higher prices for products that contain flexible polyurethane foam. In 2015 a settlement was reached with several of the producers, though other producers named in the suit filed appeals blocking distribution of the settlement. In June of 2016 the final producer appeal was dismissed and we received $1,428 in cash representing our share of the settlement, which is included in cash provided by operating activities in our statement of cash flows for the nine months ended August 28, 2016. 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 during 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 28, 2015 $ 566 Provisions made to adjust previous estimates 93 Payments and other (401 ) Accretion of interest on obligations 7 Balance at August 27, 2016 $ 265 Current portion included in other accrued liabilities $ 129 Long-term portion included in other long-term liabilities 136 Total accrued lease exit costs at August 27, 2016 $ 265 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. As of November 28, 2015, all required payments of severance had been disbursed. These management restructuring costs were incurred within our wholesale segment. Income from Continue d 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 12 - Commitments and Conti

Note 12 - Commitments and Contingencies	9 Months Ended
	Aug. 27, 2016
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	1 2 . 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 27, 2016: Retail Stores Distribution Centers Transportation Equipment Total Remainder of fiscal 2016 $ 4,764 $ 1,067 $ 909 $ 6,740 Fiscal 2017 20,405 4,160 3,060 27,625 Fiscal 2018 18,349 2,857 1,835 23,041 Fiscal 2019 16,500 1,838 1,808 20,146 Fiscal 2020 15,205 1,230 1,743 18,178 Fiscal 2021 13,234 1,254 1,169 15,657 Thereafter 37,315 3,023 1,217 41,555 Total future minimum lease payments $ 125,772 $ 15,429 $ 11,741 $ 152,942 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 $2,098 and $2,494 at August 27, 2016 and November 28, 2015, 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 27, 2016 and November 28, 2015 was not material.

Note 13 - Earnings Per Share

Note 13 - Earnings Per Share	9 Months Ended
	Aug. 27, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	1 3 . 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 27, 2016: Basic earnings per share $ 4,165 10,739,006 $ 0.39 Add effect of dilutive securities: Options and restricted shares - 139,661 (0.01 ) Diluted earnings per share $ 4,165 10,878,667 $ 0.38 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 nine months ended August 27, 2016: Basic earnings per share $ 10,784 10,762,106 $ 1.00 Add effect of dilutive securities: Options and restricted shares 139,834 (0.01 ) Diluted earnings per share $ 10,784 10,901,940 $ 0.99 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 three and nine months ended August 27, 2016 and August 29, 2015, the following potentially dilutive shares were excluded from the computations as their effect was anti-dilutive: Quarter Ended Nine Months Ended August 27, 2016 August 29, 2015 August 27, 2016 August 29, 2015 Unvested shares 2,000 2,000 7,814 8,354

Note 14 - Segment Information

Note 14 - Segment Information	9 Months Ended
	Aug. 27, 2016
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	14. 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 net 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. The following table presents our segment information: Quarter Ended Nine Months Ended August 27, 2016 August 29, 2015 August 27, 2016 August 29, 2015 Sales Revenue Wholesale $ 58,303 $ 62,165 $ 177,785 $ 187,675 Retail - Company-owned stores 61,216 62,009 184,754 183,113 Logistical services 22,991 23,650 71,480 51,607 Inter-company eliminations: Furniture and accessories (28,054 ) (27,067 ) (85,682 ) (84,666 ) Logistical services (9,744 ) (9,746 ) (30,085 ) (22,357 ) Consolidated $ 104,712 $ 111,011 $ 318,252 $ 315,372 Income from Operations Wholesale $ 5,648 $ 3,795 $ 14,380 $ 11,518 Retail - Company-owned stores 768 2,037 1,465 3,967 Logistical services 674 1,070 2,079 2,089 Inter-company elimination 450 790 1,260 683 Management restructuring costs - - - (449 ) Lease exit costs - - - (419 ) Asset impairment charges - - - (106 ) Consolidated $ 7,540 $ 7,692 $ 19,184 $ 17,283 Depreciation and Amortization Wholesale $ 538 $ 501 $ 1,453 $ 1,539 Retail - Company-owned stores 1,455 1,326 4,515 4,024 Logistical services 1,262 745 2,898 1,739 Consolidated $ 3,255 $ 2,572 $ 8,866 $ 7,302 Capital Expenditures Wholesale $ 2,808 $ 1,793 $ 5,799 $ 4,138 Retail - Company-owned stores 1,080 1,448 4,060 5,326 Logistical services 951 100 9,096 1,819 Consolidated $ 4,839 $ 3,341 $ 18,955 $ 11,283 As of As of Identifiable Assets August 27, 2016 November 28, 2015 Wholesale $ 135,045 $ 146,878 Retail - Company-owned stores 89,871 88,878 Logistical services 50,583 46,787 Consolidated $ 275,499 $ 282,543

Note 15 - Recent Accounting Pro

Note 15 - Recent Accounting Pronouncements	9 Months Ended
	Aug. 27, 2016
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	1 5 . Recent Accounting Pronouncements 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 In July 2015, the FASB issued Accounting Standards Update No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory In July 2015, the FASB issued Accounting Standards Update No. 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement Period Adjustments The amendments in this Update should be applied prospectively to adjustments to provisional amounts that occur after the effective date of this Update with earlier application permitted for financial statements that have not been issued. Therefore the amendments in ASU 2015-16 will become effective for us as of the beginning of our 2017 fiscal year. The adoption of this guidance is not expected to have a material impact upon our financial condition or results of operations. In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) In August 2016, the FASB issued Accounting Standards Update No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments See Note 1 regarding our adoption of ASU 2016-09, issued by the FASB in March 2016.

Note 3 - Business Combination21

Note 3 - Business Combination - Acquisition of Zenith (Tables)	9 Months Ended
	Aug. 27, 2016
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]	Allocation of the fair value of consideration transferred: 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]	Description: Useful Life 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
Business Acquisition, Pro Forma Information [Table Text Block]	Quarter Ended Nine Months Ended August 27, 2016 August 29, 2015 August 27, 2016 August 29, 2015 (1) Zenith revenue (2) $ 13,247 $ 13,904 $ 41,395 $ 29,250 Zenith pre-tax income $ 608 $ 1,022 $ 1,917 $ 1,984

Note 5 - Accounts Receivable (T

Note 5 - Accounts Receivable (Tables)	9 Months Ended
	Aug. 27, 2016
Notes Tables
Schedule Of Accounts Receivable [Table Text Block]	August 27, 2016 November 28, 2015 Gross accounts receivable $ 20,146 $ 22,372 Allowance for doubtful accounts (844 ) (1,175 ) Accounts receivable, net $ 19,302 $ 21,197
Schedule of Credit Losses for Financing Receivables, Current [Table Text Block]	Balance at November 28, 2015 $ 1,175 Reductions to allowance (331 ) Balance at August 27, 2016 $ 844

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	9 Months Ended
	Aug. 27, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	August 27, 2016 November 28, 2015 Wholesale finished goods $ 24,819 $ 31,253 Work in process 375 318 Raw materials and supplies 10,771 9,793 Retail merchandise 26,899 27,680 Total inventories on first-in, first-out method 62,864 69,044 LIFO adjustment (8,015 ) (7,751 ) Reserve for excess and obsolete inventory (1,436 ) (1,397 ) $ 53,413 $ 59,896
Activity In Reserves For Excess Quantities And Obsolete Inventory By Segment [Table Text Block]	Wholesale Segment Retail Segment Total Balance at November 28, 2015 $ 1,087 $ 310 $ 1,397 Additions charged to expense 1,523 386 1,909 Write-offs (1,485 ) (385 ) (1,870 ) Balance at August 27, 2016 $ 1,125 $ 311 $ 1,436

Note 7 - Goodwill and Other I24

Note 7 - Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Aug. 27, 2016
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	August 27, 2016 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization Customer relationships $ 3,038 $ (321 ) $ 2,717 Technology - customized applications 834 (189 ) 645 Total intangible assets subject to amortization 3,872 (510 ) 3,362 Intangibles not subject to amortization: Trade names 2,490 - 2,490 Goodwill 11,588 - 11,588 Total goodwill and other intangible assets $ 17,950 $ (510 ) $ 17,440 November 28, 2015 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization Customer relationships $ 3,038 $ (169 ) $ 2,869 Technology - customized applications 834 (99 ) 735 Total intangible assets subject to amortization 3,872 (268 ) 3,604 Intangibles not subject to amortization: Trade names 2,490 - 2,490 Goodwill 11,588 - 11,588 Total goodwill and other intangible assets $ 17,950 $ (268 ) $ 17,682
Schedule of Goodwill [Table Text Block]	Wholesale $ 4,839 Retail 1,820 Logistical services 4,929 Total goodwill $ 11,588
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	Quarter Ended Nine Months Ended August 27, 2016 August 29, 2015 August 27, 2016 August 29, 2015 Intangible asset amortization expense $ 80 $ 80 $ 241 $ 188

Note 9 - Notes Payable and Ba25

Note 9 - Notes Payable and Bank Credit Facility (Tables)	9 Months Ended
	Aug. 27, 2016
Notes Tables
Schedule of Debt [Table Text Block]	August 27, 2016 Principal Balance Unamortized Discount Net Carrying Amount Zenith acquisition note payable $ 6,000 $ (154 ) $ 5,846 Transportation equipment notes payable 6,787 - 6,787 Real estate notes payable 1,447 - 1,447 Total Debt 14,234 (154 ) 14,080 Less current portion (5,125 ) 122 (5,003 ) Total long-term debt $ 9,109 $ (32 ) $ 9,077 November 28, 2015 Principal Balance Unamortized Discount Net Carrying Amount Zenith acquisition note payable $ 9,000 $ (312 ) $ 8,688 Transportation equipment notes payable 2,152 - 2,152 Real estate notes payable 2,933 - 2,933 Total Debt 14,085 (312 ) 13,773 Less current portion (5,477 ) 204 (5,273 ) Total long-term debt $ 8,608 $ (108 ) $ 8,500
Schedule of Maturities of Long-term Debt [Table Text Block]	Remainder of fiscal 2016 $ 503 Fiscal 2017 5,171 Fiscal 2018 5,246 Fiscal 2019 2,324 Fiscal 2020 990 Fiscal 2021 - Thereafter - $ 14,234

Note 10 - Post Employment Ben26

Note 10 - Post Employment Benefit Obligations (Tables)	9 Months Ended
	Aug. 27, 2016
Notes Tables
Schedule of Pension Liability [Table Text Block]	August 27, 2016 November 28, 2015 Accrued compensation and benefits $ 749 $ 749 Post employment benefit obligations 10,944 10,929 Total pension liability $ 11,693 $ 11,678 August 27, 2016 November 28, 2015 Accrued compensation and benefits $ 320 $ 320 Post employment benefit obligations 1,690 1,765 Total deferred compensation liability $ 2,010 $ 2,085
Schedule of Net Benefit Costs [Table Text Block]	Quarter Ended Nine Months Ended August 27, 2016 August 29, 2015 August 27, 2016 August 29, 2015 Service cost $ 36 $ 26 $ 109 $ 78 Interest cost 106 94 317 281 Amortization of transition obligation 11 11 32 32 Amortization of loss 81 49 243 146 Net periodic pension cost $ 234 $ 180 $ 701 $ 537
Deferred Compensation Arrangement with Individual Disclosure, Postretirement Benefits [Table Text Block]	Quarter Ended Nine Months Ended August 27, 2016 August 29, 2015 August 27, 2016 August 29, 2015 Deferred compensation expense $ 57 $ 54 $ 171 $ 162

Note 11 - Litigation Gain, Im27

Note 11 - Litigation Gain, Impairment Charges and Accrued Lease Exit Costs (Tables)	9 Months Ended
	Aug. 27, 2016
Notes Tables
Schedule Of Activity Related To Accrued Lease Exit Costs [Table Text Block]	Balance at November 28, 2015 $ 566 Provisions made to adjust previous estimates 93 Payments and other (401 ) Accretion of interest on obligations 7 Balance at August 27, 2016 $ 265 Current portion included in other accrued liabilities $ 129 Long-term portion included in other long-term liabilities 136 Total accrued lease exit costs at August 27, 2016 $ 265

Note 12 - Commitments and Con28

Note 12 - Commitments and Contingencies (Tables)	9 Months Ended
	Aug. 27, 2016
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Retail Stores Distribution Centers Transportation Equipment Total Remainder of fiscal 2016 $ 4,764 $ 1,067 $ 909 $ 6,740 Fiscal 2017 20,405 4,160 3,060 27,625 Fiscal 2018 18,349 2,857 1,835 23,041 Fiscal 2019 16,500 1,838 1,808 20,146 Fiscal 2020 15,205 1,230 1,743 18,178 Fiscal 2021 13,234 1,254 1,169 15,657 Thereafter 37,315 3,023 1,217 41,555 Total future minimum lease payments $ 125,772 $ 15,429 $ 11,741 $ 152,942

Note 13 - Earnings Per Share (T

Note 13 - Earnings Per Share (Tables)	9 Months Ended
	Aug. 27, 2016
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 27, 2016: Basic earnings per share $ 4,165 10,739,006 $ 0.39 Add effect of dilutive securities: Options and restricted shares - 139,661 (0.01 ) Diluted earnings per share $ 4,165 10,878,667 $ 0.38 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 nine months ended August 27, 2016: Basic earnings per share $ 10,784 10,762,106 $ 1.00 Add effect of dilutive securities: Options and restricted shares 139,834 (0.01 ) Diluted earnings per share $ 10,784 10,901,940 $ 0.99 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
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Quarter Ended Nine Months Ended August 27, 2016 August 29, 2015 August 27, 2016 August 29, 2015 Unvested shares 2,000 2,000 7,814 8,354

Note 14 - Segment Information (

Note 14 - Segment Information (Tables)	9 Months Ended
	Aug. 27, 2016
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Quarter Ended Nine Months Ended August 27, 2016 August 29, 2015 August 27, 2016 August 29, 2015 Sales Revenue Wholesale $ 58,303 $ 62,165 $ 177,785 $ 187,675 Retail - Company-owned stores 61,216 62,009 184,754 183,113 Logistical services 22,991 23,650 71,480 51,607 Inter-company eliminations: Furniture and accessories (28,054 ) (27,067 ) (85,682 ) (84,666 ) Logistical services (9,744 ) (9,746 ) (30,085 ) (22,357 ) Consolidated $ 104,712 $ 111,011 $ 318,252 $ 315,372 Income from Operations Wholesale $ 5,648 $ 3,795 $ 14,380 $ 11,518 Retail - Company-owned stores 768 2,037 1,465 3,967 Logistical services 674 1,070 2,079 2,089 Inter-company elimination 450 790 1,260 683 Management restructuring costs - - - (449 ) Lease exit costs - - - (419 ) Asset impairment charges - - - (106 ) Consolidated $ 7,540 $ 7,692 $ 19,184 $ 17,283 Depreciation and Amortization Wholesale $ 538 $ 501 $ 1,453 $ 1,539 Retail - Company-owned stores 1,455 1,326 4,515 4,024 Logistical services 1,262 745 2,898 1,739 Consolidated $ 3,255 $ 2,572 $ 8,866 $ 7,302 Capital Expenditures Wholesale $ 2,808 $ 1,793 $ 5,799 $ 4,138 Retail - Company-owned stores 1,080 1,448 4,060 5,326 Logistical services 951 100 9,096 1,819 Consolidated $ 4,839 $ 3,341 $ 18,955 $ 11,283
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	As of As of Identifiable Assets August 27, 2016 November 28, 2015 Wholesale $ 135,045 $ 146,878 Retail - Company-owned stores 89,871 88,878 Logistical services 50,583 46,787 Consolidated $ 275,499 $ 282,543

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Aug. 27, 2016	Aug. 27, 2016	Aug. 29, 2015	Feb. 28, 2015	Feb. 02, 2015	Feb. 01, 2015
Zenith Freight Lines [Member]
Equity Method Investment, Ownership Percentage						49.00%
Business Acquisition, Percentage of Voting Interests Acquired				51.00%	51.00%
Reclassification from Financing Activities to Operating Activities [Member] | Six Months Ended May 30, 2015 [Member]
Payments Related to Tax Withholding for Share-based Compensation			$ 2,008
Excess Tax Benefit from Share-based Compensation, Operating Activities	$ (46)	$ (87)	(2,008)
Payments Related to Tax Withholding for Share-based Compensation		$ 77	$ 178

Note 3 - Business Combination32

Note 3 - Business Combination - Acquisition of Zenith (Details Textual)	Feb. 02, 2015USD ($)	Feb. 01, 2015USD ($)	Aug. 27, 2016USD ($)	Aug. 29, 2015USD ($)	Feb. 28, 2015USD ($)	Aug. 27, 2016USD ($)	Aug. 29, 2015USD ($)$ / shares
Zenith Freight Lines [Member] | Long-term Debt [Member]
Debt Instrument, Periodic Payment	$ 3,000,000
Zenith Freight Lines [Member]
Equity Method Investment, Ownership Percentage		49.00%
Business Acquisition, Percentage of Voting Interests Acquired	51.00%				51.00%
Business Combination, Consideration Transferred	$ 19,111,000				$ 19,111,000
Debt Instrument, Periodic Payment, Number of Installments	3
Equity Method Investments, Carrying Value Prior to Step Acquisition Remeasurement		$ 9,480,000
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 Acquisition, Goodwill, Expected Tax Deductible Amount				$ 6,982,000			$ 6,982,000
Business Combination, Acquisition Related Costs				0			209,000
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain							$ 7,212,000

Note 3 - Fair Value of Acquired

Note 3 - Fair Value of Acquired Business (Details) - Zenith Freight Lines [Member] - USD ($)	Feb. 02, 2015	Feb. 28, 2015	Aug. 29, 2015
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	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
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value		16,692,000	$ 16,692,000
Total fair value of acquired business		$ 32,181,000

Note 3 - Fair Value of Acquir34

Note 3 - Fair Value of Acquired Business (Details) (Parentheticals) - Zenith Freight Lines [Member] - $ / shares	3 Months Ended
	Feb. 28, 2015	Feb. 02, 2015
Business Acquisition, Percentage of Voting Interests Acquired	51.00%	51.00%
Bassett common stock, shares (in shares)	89,485
Bassett common stock, par value (in dollars per share)	$ 5
Bassett comon stock, fair value at closing, per share (in dollars per share)	$ 18.72
Fair value of Bassett's previous interest in Zenith, percentage	49.00%

Note 3 - Allocation of Fair Val

Note 3 - Allocation of Fair Value of the Acquired Business (Details) - USD ($) $ in Thousands	Aug. 27, 2016	Feb. 02, 2015
Zenith Freight Lines [Member]
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
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	$ 11,588

Note 3 - Acquired Identifiable

Note 3 - Acquired Identifiable Intangible Assets (Details) - Zenith Freight Lines [Member] $ in Thousands	9 Months Ended
	Aug. 27, 2016USD ($)
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 3 - Revenue and Pre-tax Pr

Note 3 - Revenue and Pre-tax Profit included in Condensed Consolidated Statements of Income (Details) - Zenith Freight Lines [Member] - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Aug. 27, 2016	Aug. 29, 2015	Aug. 27, 2016	Aug. 29, 2015	[2]
Zenith revenue (2)	[1]	$ 13,247	$ 13,904	$ 41,395	$ 29,250
Zenith pre-tax income		$ 608	$ 1,022	$ 1,917	$ 1,984
[1]	Net of eliminated inter-company transactions. See Note 14.
[2]	From date of acquisition, February 2, 2015.

Note 4 - Financial Instrument38

Note 4 - Financial Instruments and Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Aug. 27, 2016	Nov. 28, 2015
Maximum [Member]
Certificates of Deposit Terms	1 year
Interest Rate of Certificates of Deposit	1.00%
Minimum [Member]
Interest Rate of Certificates of Deposit	0.28%
Weighted Average [Member]
Certificates of Deposit Terms	300 days
Interest Rate of Certificates of Deposit	0.65%
Short-term Investments	$ 23,125	$ 23,125

Note 5 - Accounts Receivable (D

Note 5 - Accounts Receivable (Details) - USD ($) $ in Thousands	Aug. 27, 2016	Nov. 28, 2015
Gross accounts receivable	$ 20,146	$ 22,372
Allowance for doubtful accounts	(844)	(1,175)
Accounts receivable, net	$ 19,302	$ 21,197

Note 5 - Activity in Allowance

Note 5 - Activity in Allowance for Doubtful Accounts (Details) $ in Thousands	9 Months Ended
	Aug. 27, 2016USD ($)
Balance	$ 1,175
Reductions to allowance	(331)
Balance	$ 844

Note 6 - Inventories (Details)

Note 6 - Inventories (Details) - USD ($) $ in Thousands	Aug. 27, 2016	Nov. 28, 2015
Wholesale finished goods	$ 24,819	$ 31,253
Work in process	375	318
Raw materials and supplies	10,771	9,793
Retail merchandise	26,899	27,680
Total inventories on first-in, first-out method	62,864	69,044
LIFO adjustment	(8,015)	(7,751)
Reserve for excess and obsolete inventory	(1,436)	(1,397)
Inventory, net	$ 53,413	$ 59,896

Note 6 - Activity in Reserves f

Note 6 - Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment (Details) $ in Thousands	9 Months Ended
	Aug. 27, 2016USD ($)
Operating Segments [Member] | Wholesale Segment [Member]
Balance	$ 1,087
Additions charged to expense	1,523
Write-offs	(1,485)
Balance	1,125
Operating Segments [Member] | Retail Segment [Member]
Balance	310
Additions charged to expense	386
Write-offs	(385)
Balance	311
Balance	1,397
Additions charged to expense	1,909
Write-offs	(1,870)
Balance	$ 1,436

Note 7 - Goodwill and Other I43

Note 7 - Goodwill and Other Intangible Assets (Details Textual) - USD ($)	Aug. 27, 2016	Nov. 28, 2015
Goodwill, Impaired, Accumulated Impairment Loss	$ 0	$ 0

Note 7 - Goodwill and Other I44

Note 7 - Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Aug. 27, 2016	Nov. 28, 2015
Customer Relationships [Member]
Intangibles subject to amortization, Gross Carrying Amount	$ 3,038	$ 3,038
Intangibles subject to amortization, Accumulated Amortization	(321)	(169)
Intangibles subject to amortization, Intangible Assets, Net	2,717	2,869
Technology-Based Intangible Assets [Member]
Intangibles subject to amortization, Gross Carrying Amount	834	834
Intangibles subject to amortization, Accumulated Amortization	(189)	(99)
Intangibles subject to amortization, Intangible Assets, Net	645	735
Intangibles subject to amortization, Gross Carrying Amount	3,872	3,872
Intangibles subject to amortization, Accumulated Amortization	(510)	(268)
Intangibles subject to amortization, Intangible Assets, Net	3,362	3,604
Trade names	2,490	2,490
Goodwill	11,588	11,588
Total goodwill and other intangible assets	17,950	17,950
Total goodwill and other intangible assets	$ 17,440	$ 17,682

Note 7 - Carrying Amount of Goo

Note 7 - Carrying Amount of Goodwill by Reportable Segment (Details) $ in Thousands	Aug. 27, 2016USD ($)
Wholesale Segment [Member]
Goodwill	$ 4,839
Retail Segment [Member]
Goodwill	1,820
Logistical Services [Member]
Goodwill	4,929
Goodwill	$ 11,588

Note 7 - Intangible Assets Amor

Note 7 - Intangible Assets Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 27, 2016	Aug. 29, 2015	Aug. 27, 2016	Aug. 29, 2015
Intangible asset amortization expense	$ 80	$ 80	$ 241	$ 188

Note 8 - Unconsolidated Affil47

Note 8 - Unconsolidated Affiliate (Details Textual) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended		9 Months Ended
	Feb. 02, 2015	Aug. 27, 2016	Aug. 29, 2015	Aug. 27, 2016	Aug. 29, 2015	Feb. 01, 2015
Zenith Freight Lines [Member]
Equity Method Investment, Ownership Percentage						49.00%
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
Equity Method Investments	9,480
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain	$ 7,212
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain					$ 7,212

Note 9 - Notes Payable and Ba48

Note 9 - Notes Payable and Bank Credit Facility (Details Textual) $ in Thousands	Feb. 02, 2015USD ($)	Aug. 27, 2016USD ($)	Aug. 29, 2015USD ($)	Aug. 27, 2016USD ($)	Aug. 29, 2015USD ($)	Feb. 02, 2016	Dec. 05, 2015USD ($)	Nov. 28, 2015USD ($)
Zenith Freight Lines [Member] | Unsecured Debt [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%					1.14%
Amortization of Debt Discount (Premium)		$ 46	$ 76	$ 158	$ 177
Long-term Debt, Current Maturities		$ 2,878		$ 2,878				$ 2,796
Transportation Equipment Notes Payable [Member] | Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage		2.69%		2.69%
Debt Instrument, Term				4 years 60 days
Transportation Equipment Notes Payable [Member] | Minimum [Member]
Debt Instrument, Term				3 years 120 days
Transportation Equipment Notes Payable [Member]
Long-term Debt		$ 6,787		$ 6,787				2,152
Secured Debt, Current		1,756		1,756				901
Debt Instrument, Collateral Amount		7,948		7,948				3,796
Real Estate Notes Payable Operated in Retail Segment [Member] | Financed Through Commercial Mortgages [Member]
Debt Instrument, Collateral Amount		$ 5,892		$ 5,892				5,993
Real Estate Notes Payable Operated in Retail Segment [Member]
Debt Instrument, Interest Rate, Stated Percentage		6.73%		6.73%
Long-term Debt		$ 1,447		$ 1,447				1,709
Secured Debt, Current		369		369				351
Real Estate Notes Payable Operated in Logistical Services Segment [Member]
Secured Debt								1,224
Bank One [Member]
Line of Credit Facility, Maximum Borrowing Capacity							$ 15,000
Letters of Credit Outstanding, Amount		1,970		1,970
Line of Credit Facility, Remaining Borrowing Capacity		13,030		13,030
Bank Two [Member]
Letters of Credit Outstanding, Amount		381		381
Long-term Debt, Current Maturities		5,003		5,003				5,273
Long-term Debt		$ 14,080		$ 14,080				$ 13,773

Note 9 - Real Estate Notes Paya

Note 9 - Real Estate Notes Payable and Bank Debt (Details) - USD ($) $ in Thousands	Aug. 27, 2016	Nov. 28, 2015
Zenith Note Payable [Member]
Principal Balance	$ 6,000	$ 9,000
Unamortized Discount	(154)	(312)
Long-term Debt	5,846	8,688
Transportation Equipment Notes Payable [Member]
Principal Balance	6,787	2,152
Long-term Debt	6,787	2,152
Real Estate Notes Payable [Member]
Principal Balance	1,447	2,933
Long-term Debt	1,447	2,933
Principal Balance	14,234	14,085
Unamortized Discount	(154)	(312)
Long-term Debt	14,080	13,773
Principal Balance, less current portion	(5,125)	(5,477)
Unamortized discount, current portion	122	204
Net Carrying Amount, less current portion	(5,003)	(5,273)
Principal Balance, excluding current portion	9,109	8,608
Unamortized discount, noncurrent portion	(32)	(108)
Net Carrying Amount, noncurrent	$ 9,077	$ 8,500

Note 9 - Maturities of Notes Pa

Note 9 - Maturities of Notes Payable (Details) - USD ($) $ in Thousands	Aug. 27, 2016	Nov. 28, 2015
Remainder of fiscal 2016	$ 503
Fiscal 2,017	5,171
Fiscal 2,018	5,246
Fiscal 2,019	2,324
Fiscal 2,020	990
Total repayments of principal	$ 14,234	$ 14,085

Note 10 - Post Employment Ben51

Note 10 - Post Employment Benefit Obligations (Details Textual) - USD ($) $ in Thousands	Aug. 27, 2016	Nov. 28, 2015
Supplemental Employee Retirement Plan [Member]
Postemployment Benefits Liability	$ 11,693	$ 11,678
Postemployment Benefits Liability, Noncurrent	10,944	10,929
Unfunded Deferred Compensation Plan [Member]
Postemployment Benefits Liability, Noncurrent	2,010	2,085
Postemployment Benefits Liability, Noncurrent	$ 12,634	$ 12,694

Note 10 - Pension Liability (De

Note 10 - Pension Liability (Details) - USD ($) $ in Thousands	Aug. 27, 2016	Nov. 28, 2015
Supplemental Employee Retirement Plan [Member]
Accrued compensation and benefits	$ 749	$ 749
Postemployment Benefits Liability, Noncurrent	10,944	10,929
Postemployment Benefits Liability	11,693	11,678
Unfunded Deferred Compensation Plan [Member]
Accrued compensation and benefits	320	320
Postemployment Benefits Liability, Noncurrent	1,690	1,765
Postemployment Benefits Liability	2,010	2,085
Postemployment Benefits Liability, Noncurrent	$ 12,634	$ 12,694

Note 10 - Components of Net Per

Note 10 - Components of Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 27, 2016	Aug. 29, 2015	Aug. 27, 2016	Aug. 29, 2015
Service cost	$ 36	$ 26	$ 109	$ 78
Interest cost	106	94	317	281
Amortization of transition obligation	11	11	32	32
Amortization of loss	81	49	243	146
Net periodic pension cost	$ 234	$ 180	$ 701	$ 537

Note 10 - Deferred Compensation

Note 10 - Deferred Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 27, 2016	Aug. 29, 2015	Aug. 27, 2016	Aug. 29, 2015
Unfunded Deferred Compensation Plan [Member]
Deferred compensation expense	$ 57	$ 54	$ 171	$ 162

Note 11 - Litigation Gain, Im55

Note 11 - Litigation Gain, Impairment Charges and Accrued Lease Exit Costs (Details Textual) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2016	Aug. 27, 2016	Aug. 29, 2015	Aug. 27, 2016	Aug. 29, 2015
Antitrust Litigation Settlement [Member] | Cost of Sales [Member]
Litigation Settlement, Amount		$ 1,428		$ 1,428
Antitrust Litigation Settlement [Member]
Proceeds from Legal Settlements	$ 1,428
Leasehold Improvements [Member]
Gain (Loss) on Contract Termination					$ 419
Asset Impairment Charges					106
Employee Severance [Member]
Restructuring Charges					449
Gain (Loss) on Contract Termination					(419)
Asset Impairment Charges					106
Restructuring Charges					449
Income from Continued Dumping and Subsidy Offset Act					$ 1,066

Note 11 - Activity Related to A

Note 11 - Activity Related to Accrued Lease Exit Costs (Details) - USD ($) $ in Thousands	9 Months Ended
	Aug. 27, 2016	Aug. 27, 2016
Balance	$ 566
Provisions made to adjust previous estimates	93
Payments and other	(401)
Accretion of interest on obligations	7
Balance	265
Current portion included in other accrued liabilities		$ 129
Long-term portion included in other long-term liabilities		136
Total accrued lease exit costs at August 27, 2016	$ 566	$ 265

Note 12 - Commitments and Con57

Note 12 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Aug. 27, 2016	Nov. 28, 2015
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	$ 2,098	$ 2,494

Note 12 - Future Minimum Lease

Note 12 - Future Minimum Lease Payments under the Non-Cancellable Operating Leases (Details) $ in Thousands	Aug. 27, 2016USD ($)
Retail Stores [Member]
Remainder of fiscal 2016	$ 4,764
Fiscal 2,017	20,405
Fiscal 2,018	18,349
Fiscal 2,019	16,500
Fiscal 2,020	15,205
Fiscal 2,021	13,234
Thereafter	37,315
Total future minimum lease payments	125,772
Distribution Centers [Member]
Remainder of fiscal 2016	1,067
Fiscal 2,017	4,160
Fiscal 2,018	2,857
Fiscal 2,019	1,838
Fiscal 2,020	1,230
Fiscal 2,021	1,254
Thereafter	3,023
Total future minimum lease payments	15,429
Transportation Equipment Leases [Member]
Remainder of fiscal 2016	909
Fiscal 2,017	3,060
Fiscal 2,018	1,835
Fiscal 2,019	1,808
Fiscal 2,020	1,743
Fiscal 2,021	1,169
Thereafter	1,217
Total future minimum lease payments	11,741
Remainder of fiscal 2016	6,740
Fiscal 2,017	27,625
Fiscal 2,018	23,041
Fiscal 2,019	20,146
Fiscal 2,020	18,178
Fiscal 2,021	15,657
Thereafter	41,555
Total future minimum lease payments	$ 152,942

Note 13 - Reconciliation of Bas

Note 13 - Reconciliation of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 27, 2016	Aug. 29, 2015	Aug. 27, 2016	Aug. 29, 2015
Basic earnings per share	$ 4,165	$ 4,266	$ 10,784	$ 14,751
Basic earnings per share (in shares)	10,739,006	10,816,293	10,762,106	10,658,416
Basic earnings per share (in dollars per share)	$ 0.39	$ 0.39	$ 1	$ 1.38
Options and restricted shares (in shares)	139,661	116,575	139,834	153,787
Options and restricted shares (in dollars per share)	$ (0.01)		$ (0.01)	$ (0.02)
Diluted earnings per share	$ 4,165	$ 4,266	$ 10,784	$ 14,751
Diluted earnings per share (in shares)	10,878,667	10,932,868	10,901,940	10,812,203
Diluted earnings per share (in dollars per share)	$ 0.38	$ 0.39	$ 0.99	$ 1.36

Note 13 - Antidilutive Securiti

Note 13 - Antidilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Aug. 27, 2016	Aug. 29, 2015	Aug. 27, 2016	Aug. 29, 2015
Restricted Stock [Member]
Unvested shares (in shares)	2,000	2,000	7,814	8,354

Note 14 - Segment Information61

Note 14 - Segment Information (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 27, 2016USD ($)	Aug. 29, 2015USD ($)	Aug. 27, 2016USD ($)	Aug. 29, 2015USD ($)
Zenith Freight Lines [Member]
Business Combination, Pro Forma Information Operating Costs of Acquiree Since Acquisition Date, Actual	$ 22,317	$ 22,850	$ 69,400	$ 49,517
Number of Reportable Segments			3

Note 14 - Segment Information b

Note 14 - Segment Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 27, 2016	Aug. 29, 2015	Aug. 27, 2016	Aug. 29, 2015
Operating Segments [Member] | Wholesale Segment [Member] | Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]
Capital expenditures	$ 2,808	$ 1,793	$ 5,799	$ 4,138
Operating Segments [Member] | Wholesale Segment [Member]
Sales revenue	58,303	62,165	177,785	187,675
Income (loss) from Operations	5,648	3,795	14,380	11,518
Depreciation and amortization	538	501	1,453	1,539
Operating Segments [Member] | Company-owned Retail Stores [Member] | Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]
Capital expenditures	1,080	1,448	4,060	5,326
Operating Segments [Member] | Company-owned Retail Stores [Member]
Sales revenue	61,216	62,009	184,754	183,113
Income (loss) from Operations	768	2,037	1,465	3,967
Depreciation and amortization	1,455	1,326	4,515	4,024
Operating Segments [Member] | Logistical Services [Member] | Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]
Capital expenditures	951	100	9,096	1,819
Operating Segments [Member] | Logistical Services [Member]
Sales revenue	22,991	23,650	71,480	51,607
Income (loss) from Operations	674	1,070	2,079	2,089
Depreciation and amortization	1,262	745	2,898	1,739
Intersegment Eliminations [Member] | Logistical Services [Member]
Sales revenue	(9,744)	(9,746)	(30,085)	(22,357)
Intersegment Eliminations [Member] | Furniture and Accessories [Member]
Sales revenue	(28,054)	(27,067)	(85,682)	(84,666)
Intersegment Eliminations [Member]
Income (loss) from Operations	450	790	1,260	683
Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]
Capital expenditures	4,839	3,341	18,955	11,283
Sales revenue	104,712	111,011	318,252	315,372
Income (loss) from Operations	7,540	7,692	19,184	17,283
Management restructuring costs				(449)
Gain (Loss) on Contract Termination				(419)
Asset impairment charges				(106)
Depreciation and amortization	$ 3,255	$ 2,572	$ 8,866	$ 7,302

Note 14 - Segment Information -

Note 14 - Segment Information - Identifiable Assets (Details) - USD ($) $ in Thousands	Aug. 27, 2016	Nov. 28, 2015
Operating Segments [Member] | Wholesale Segment [Member]
Identifiable assets	$ 135,045	$ 146,878
Operating Segments [Member] | Company-owned Retail Stores [Member]
Identifiable assets	89,871	88,878
Operating Segments [Member] | Logistical Services [Member]
Identifiable assets	50,583	46,787
Identifiable assets	$ 275,499	$ 282,543