Bassett Furniture Industries (BSET) 10-Q 2 Jul 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 01, 2019	Jun. 26, 2019
Document Information [Line Items]
Entity Registrant Name	BASSETT FURNITURE INDUSTRIES INC
Entity Central Index Key	0000010329
Trading Symbol	BSET
Current Fiscal Year End Date	--11-30
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding (in shares)		10,409,751
Document Type	10-Q
Document Period End Date	Jun. 1, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Address, Address Line One	3525 Fairystone Park Highway
EntityIncorporationStateCountryCode	VA
EntityAddressCityOrTown	Bassett
EntityAddressStateOrProvince	VA
EntityAddressPostalZipCode	24055
CityAreaCode	276
LocalPhoneNumber	629-6000
EntityTaxIdentificationNumber	54-0135270
EntityFileNumber	000-00209
Entity Shell Company	false
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Security Exchange Name	NASDAQ
Title of 12(b) Security	Common Stock

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 01, 2019	May 26, 2018	Jun. 01, 2019	May 26, 2018
Sales revenue:
Sales revenues	$ 108,190,000	$ 116,980,000	$ 229,031,000	$ 227,252,000
Cost of furniture and accessories sold	42,530,000	45,660,000	91,707,000	88,929,000
Selling, general and administrative expenses excluding new store pre-opening costs	64,590,000	65,456,000	133,976,000	129,707,000
New store pre-opening costs	369,000	201,000	863,000	903,000
Early retirement program	0	0	835,000	0
Income from operations	701,000	5,663,000	1,650,000	7,713,000
Other loss, net	(145,000)	(233,000)	(268,000)	(860,000)
Income before income taxes	556,000	5,430,000	1,382,000	6,853,000
Income tax expense	111,000	1,141,000	329,000	3,477,000
Net income	$ 445,000	$ 4,289,000	$ 1,053,000	$ 3,376,000
Basic earnings per share (in dollars per share)	$ 0.04	$ 0.40	$ 0.10	$ 0.32
Diluted earnings per share (in dollars per share)	0.04	0.40	0.10	0.31
Dividends per share (in dollars per share)	$ 0.125	$ 0.11	$ 0.25	$ 0.22
Furniture and Accessories [Member]
Sales revenue:
Sales revenues	$ 95,824,000	$ 102,675,000	$ 203,181,000	$ 198,798,000
Logistical Services [Member]
Sales revenue:
Sales revenues	$ 12,366,000	$ 14,305,000	$ 25,850,000	$ 28,454,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 01, 2019	May 26, 2018	Jun. 01, 2019	May 26, 2018
Net income	$ 445	$ 4,289	$ 1,053	$ 3,376
Other comprehensive income:
Other comprehensive income, net of tax	57	80	114	160
Total comprehensive income	502	4,369	1,167	3,536
Pension Plan [Member]
Other comprehensive income:
Amortization associated with Retirement Plan	31	31	62	62
Income taxes related to Retirement Plan	(8)	(8)	(16)	(16)
Supplemental Employee Retirement Plan [Member]
Other comprehensive income:
Amortization associated with Retirement Plan	46	76	92	152
Income taxes related to Retirement Plan	$ (12)	$ (19)	$ (24)	$ (38)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 01, 2019	Nov. 24, 2018
Current assets
Cash and cash equivalents	$ 11,581	$ 33,468
Short-term investments	22,643	22,643
Accounts receivable, net	20,906	19,055
Inventories	66,715	64,192
Other current assets	14,652	9,189
Total current assets	136,497	148,547
Property and equipment, net	106,089	104,863
Deferred income taxes	3,250	3,266
Goodwill and other intangible assets	28,291	28,480
Other	6,374	6,485
Total long-term assets	37,915	38,231
Total assets	280,501	291,641
Current liabilities
Accounts payable	19,587	27,407
Accrued compensation and benefits	11,299	12,994
Customer deposits	24,910	27,157
Other current liabilites and accrued expenses	11,667	14,261
Total current liabilities	67,463	81,819
Long-term liabilities
Post employment benefit obligations	12,623	13,173
Other long-term liabilities	13,249	6,340
Total long-term liabilities	25,872	19,513
Stockholders’ equity
Common stock	52,262	52,638
Retained earnings	137,127	140,009
Accumulated other comprehensive loss	(2,223)	(2,338)
Total stockholders' equity	187,166	190,309
Total liabilities and stockholders’ equity	$ 280,501	$ 291,641

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 01, 2019	May 26, 2018
Operating activities:
Net income	$ 1,053,000	$ 3,376,000
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	6,735,000	6,688,000
Gain on sale of property and equipment	(3,000)	(136,000)
Deferred income taxes	23,000	2,183,000
Other, net	(276,000)	1,243,000
Changes in operating assets and liabilities:
Accounts receivable	(1,824,000)	124,000
Inventories	(3,355,000)	(3,689,000)
Other current assets	(3,274,000)	(2,311,000)
Customer deposits	(2,247,000)	(5,014,000)
Accounts payable and other liabilities	(5,774,000)	(2,185,000)
Net cash provided by (used in) operating activities	(8,942,000)	279,000
Investing activities:
Purchases of property and equipment	(8,313,000)	(7,662,000)
Proceeds from sales of property and equipment	11,000	2,463,000
Other	343,000	(527,000)
Net cash used in investing activities	(7,959,000)	(21,282,000)
Financing activities:
Cash dividends	(2,603,000)	(6,124,000)
Proceeds from the exercise of stock options	25,000	27,000
Other issuance of common stock	159,000	173,000
Repurchases of common stock	(2,347,000)	(823,000)
Taxes paid related to net share settlement of equity awards	0	(522,000)
Repayments of notes payable	(220,000)	(3,128,000)
Net cash used in financing activities	(4,986,000)	(10,397,000)
Change in cash and cash equivalents	(21,887,000)	(31,400,000)
Cash and cash equivalents - beginning of period	33,468,000	53,949,000
Cash and cash equivalents - end of period	11,581,000	22,549,000
Acquisition of Lane Venture [Member]
Investing activities:
Cash paid for business acquisition	$ 0	$ (15,556,000)

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jun. 01, 2019
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 not 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. In accordance with ASC Topic 810, none 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. Revenues from logistical services are generated by our wholly-owned subsidiary, Zenith Freight Lines, LLC (“Zenith”). Sales of logistical services from Zenith to our wholesale and retail segments have been eliminated in consolidation, and Zenith’s operating costs and expenses are included in selling, general and administrative expenses in our condensed consolidated statements of income. Our fiscal year, which ends on the last Saturday of November, 53 52 November 30, 2019 53 first 27 six June 1, 2019 26 six May 26, 2018. Lane Venture Acquisition On December 21, 2017, 3, Recently Adopted Accounting Pronouncements Effective as of the beginning of fiscal 2019, No. 2016 15, 230 2016 15 2016 15 six May 26, 2018 As of the beginning of fiscal 2019, No. 2014 09, 606 606” 14, 606

Note 2 - Interim Financial Pres

Note 2 - Interim Financial Presentation	6 Months Ended
	Jun. 01, 2019
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 six June 1, 2019 not 10 November 24, 2018. Income Taxes and Impact of the Tax Cuts and Jobs Act 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. On December 22, 2017, January 1, 2018 three six June 1, 2019 21% Because the Act specified the new 21% January 1, 2018, 11 2018. 2018 three six May 26, 2018 three six May 26, 2018 second 2018, 199: 2019

Note 3 - Business Combinations

Note 3 - Business Combinations	6 Months Ended
	Jun. 01, 2019
Notes to Financial Statements
Business Combination Disclosure [Text Block]	3. Acquisition of Lane Venture On December 21, 2017, Under the acquisition method of accounting, the fair value of the consideration transferred 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 allocation of the $15,556 Allocation of the fair value of consideration transferred: Identifiable assets acquired: Accounts receivable, net of reserve $ 1,507 Inventory, net of reserve 3,718 Prepaid expenses and other current assets 37 Intangible assets 7,360 Total identifiable assets acquired 12,622 Liabilities assumed: Accounts payable (357 ) Other accrued liabilities (852 ) Total liabilities assumed (1,209 ) Net identifiable assets acquired 11,413 Goodwill 4,143 Total net assets acquired $ 15,556 Goodwill was determined based on the residual difference between the fair value of the consideration transferred and the value assigned to the tangible and intangible assets and liabilities recognized in connection with the acquisition and is deductible for tax purposes. Among the factors that contributed to a purchase price resulting in the recognition of goodwill are the expected synergies arising from combining the Company’s manufacturing and distribution capabilities with Lane Venture’s position in the outdoor furnishings market, a segment of the market not A portion of the fair value of the consideration transferred was assigned to identifiable intangible assets as follows: Useful Life Description In Years Fair Value Trade name Indefinite $ 6,848 Customer relationships 9 512 Total acquired intangible assets $ 7,360 The finite-lived intangible asset is being amortized on a straight-line basis over its estimated useful life. The indefinite-lived intangible asset and goodwill are not The fair values of consideration transferred and net assets acquired were determined using a combination of Level 2 3 820, Fair Value Measurements and Disclosures 4. Acquisition costs related to the Lane Venture acquisition totaled $26 and $254 during the three six May 26, 2018, The pro forma results of operations for the acquisition of Lane Venture have not not three six May 26, 2018.

Note 4 - Financial Instruments

Note 4 - Financial Instruments and Fair Value Measurements	6 Months Ended
	Jun. 01, 2019
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. 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. Investments Our short-term investments of $22,643 at June 1, 2019 November 24, 2018 June 1, 2019, June 1, 2019, June 1, 2019 November 24, 2018 Fair Value Measurement The Company accounts for items measured at fair value in accordance with ASC Topic 820, Fair Value Measurements and Disclosures 820’s 820 Level 1 Level 2 not Level 3 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 3 3 2 3

Note 5 - Accounts Receivable

Note 5 - Accounts Receivable	6 Months Ended
	Jun. 01, 2019
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	5 . Accounts Receivable Accounts receivable consists of the following: June 1, 2019 November 24, 2018 Gross accounts receivable $ 21,677 $ 19,809 Allowance for doubtful accounts (771 ) (754 ) Accounts receivable, net $ 20,906 $ 19,055 Activity in the allowance for doubtful accounts for the six June 1, 2019 Balance at November 24, 2018 $ 754 Additions to allowance, net 17 Balance at June 1, 2019 $ 771 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 3 820, Fair Value Measurements and Disclosures 4.

Note 6 - Inventories

Note 6 - Inventories	6 Months Ended
	Jun. 01, 2019
Notes to Financial Statements
Inventory Disclosure [Text Block]	6 . Inventories Domestic furniture inventories are valued at the lower of cost, which is determined using the last-in, first first first Inventories were comprised of the following: June 1, 2019 November 24, 2018 Wholesale finished goods $ 28,034 $ 30,750 Work in process 512 432 Raw materials and supplies 17,090 15,503 Retail merchandise 31,837 27,599 Total inventories on first-in, first-out method 77,473 74,284 LIFO adjustment (8,456 ) (8,326 ) Reserve for excess and obsolete inventory (2,302 ) (1,766 ) $ 66,715 $ 64,192 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 not not not Activity in the reserves for excess quantities and obsolete inventory by segment are as follows: Wholesale Segment Retail Segment Total Balance at November 24, 2018 $ 1,500 $ 266 $ 1,766 Additions charged to expense 1,066 208 1,274 Write-offs (569 ) (169 ) (738 ) Balance at June 1, 2019 $ 1,997 $ 305 $ 2,302 Additions charged to expense for our wholesale segment during the six June 1, 2019 Our estimates and assumptions have been reasonably accurate in the past. We have not 2019 not

Note 7 - Goodwill and Other Int

Note 7 - Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 01, 2019
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: June 1, 2019 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization Customer relationships $ 3,550 $ (958 ) $ 2,592 Technology - customized applications 834 (516 ) 318 Total intangible assets subject to amortization 4,384 (1,474 ) 2,910 Intangibles not subject to amortization: Trade names 9,338 - 9,338 Goodwill 16,043 - 16,043 Total goodwill and other intangible assets $ 29,765 $ (1,474 ) $ 28,291 November 24, 2018 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization Customer relationships $ 3,550 $ (829 ) $ 2,721 Technology - customized applications 834 (456 ) 378 Total intangible assets subject to amortization 4,384 (1,285 ) 3,099 Intangibles not subject to amortization: Trade names 9,338 - 9,338 Goodwill 16,043 - 16,043 Total goodwill and other intangible assets $ 29,765 $ (1,285 ) $ 28,480 There were noaccumulated impairment losses on goodwill as of June 1, 2019 November 24, 2018. The carrying amounts of goodwill by reportable segment at both June 1, 2019 November 24, 2018 Wholesale $ 9,188 Retail 1,926 Logistical services 4,929 Total goodwill $ 16,043 Amortization expense associated with intangible assets during the three six June 1, 2019 May 26, 2018 Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Intangible asset amortization expense $ 95 $ 95 $ 190 $ 185 PART I-FINANCIAL INFORMATION-CONTINUED JUNE 1, 2019 Dollars in thousands except share and per share data Estimated future amortization expense for intangible assets that exist at June 1, 2019 Remainder of fiscal 2019 $ 189 Fiscal 2020 379 Fiscal 2021 379 Fiscal 2022 279 Fiscal 2023 259 Fiscal 2024 259 Thereafter 1,166 Total $ 2,910

Note 8 - Notes Payable and Bank

Note 8 - Notes Payable and Bank Credit Facility	6 Months Ended
	Jun. 01, 2019
Notes to Financial Statements
Debt Disclosure [Text Block]	8 . Notes Payable and Bank Credit Facility Real Estate Notes Payable Certain of our retail real estate properties have been financed through commercial mortgages with outstanding principal totaling $72 and $292 at June 1, 2019 November 24, 2018, June 1, 2019 November 24, 2018, June 1, 2019. Fair Value We believe that the carrying amount of our notes payable approximates fair value at both June 1, 2019 November 24, 2018. not 3 820, Fair Value Measurements and Disclosures 4. Bank Credit Facility Our credit facility with our bank provides for a line of credit of up to $25,000. This credit facility 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. The credit facility will mature in December 2021. At June 1, 2019,

Note 9 - Post Employment Benefi

Note 9 - Post Employment Benefit Obligations	6 Months Ended
	Jun. 01, 2019
Notes to Financial Statements
Postemployment Benefits Disclosure [Text Block]	9. Defined Benefit Plans We have an unfunded Supplemental Retirement Income Plan (the “Supplemental Plan”) that covers one June 1, 2019 November 24, 2018, We also have the Bassett Furniture Industries, Incorporated Management Savings Plan (the “Management Savings Plan”) which was established in the second 2017. June 1, 2019 November 24, 2018, The combined pension liability for the Supplemental Plan and LTC Awards is recorded as follows in the condensed consolidated balance sheets: June 1, 2019 November 24, 2018 Accrued compensation and benefits $ 798 $ 798 Post employment benefit obligations 10,364 10,854 Total pension liability $ 11,162 $ 11,652 Components of net periodic pension costs for our defined benefit plans for the three six June 1, 2019 May 26, 2018 Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Service cost $ 47 $ 49 $ 94 $ 98 Interest cost 110 105 221 210 Amortization of prior service costs 31 31 63 62 Amortization of transition obligation - 11 - 22 Amortization of loss 46 65 92 130 Net periodic pension cost $ 234 $ 261 $ 470 $ 522 The components of net periodic pension cost other than the service cost component are included in other loss, net in our condensed consolidated statements of income. Deferred Compensation Plan s We have an unfunded deferred compensation plan that covers one no March 2, 2019 November 24, 2018, We also have an unfunded, nonqualified deferred compensation plan maintained for the benefit of certain highly compensated or management level employees which was established under the Management Savings Plan. Our liability under this plan, including both accrued Company contributions and participant salary deferrals, was $726 and $611 as of June 1, 2019 November 24, 2018, Our combined liability for all deferred compensation arrangements, including Company contributions and participant deferrals under the Management Savings Plan, is recorded as follows in the condensed consolidated balance sheets: June 1, 2019 November 24, 2018 Accrued compensation and benefits $ 266 $ 266 Post employment benefit obligations 2,258 2,053 Total deferred compensation liability $ 2,524 $ 2,319 We recognized expense under our deferred compensation arrangements during the three six June 1, 2019 May 26, 2018 Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Deferred compensation expense $ 84 $ 80 $ 183 $ 159

Note 10 - Other Operating Losse

Note 10 - Other Operating Losses	6 Months Ended
	Jun. 01, 2019
Notes to Financial Statements
Other Operating Income and Expense [Text Block]	1 0 . Other Operating Gains and Losses Fiscal 2019 Early Retirement Program During the first 2019, three February 28, 2019. one six June 1, 2019. June 1, 2019. Fiscal 201 8 Sale of Retail Location In May 2018 three six May 26, 2018

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	6 Months Ended
	Jun. 01, 2019
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	1 1 . 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 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 retail and logistical services segments. We also lease tractors and trailers used in our logistical services segment, and local delivery trucks used in our retail segment. Our real estate lease terms range from 1 to 15 years and generally have renewal options of between 5 and 15 years. Some store leases contain contingent rental provisions based upon sales volume. Our transportation equipment leases have terms ranging from 2 to 7 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 June 1, 2019: Retail Stores Warehousing & Distribution Centers Transportation Equipment All Other Total Remainder of fiscal 2019 $ 12,308 $ 2,893 $ 2,240 $ 870 $ 18,311 Fiscal 2020 24,078 5,440 4,230 1,637 35,385 Fiscal 2021 21,501 4,835 3,060 970 30,366 Fiscal 2022 19,002 4,586 2,151 487 26,226 Fiscal 2023 16,808 3,182 1,263 - 21,253 Fiscal 2024 12,957 1,291 958 - 15,206 Thereafter 39,919 676 354 - 40,949 Total future minimum lease payments $ 146,573 $ 22,903 $ 14,256 $ 3,964 $ 187,696 Improvement allowances received from lessors at the inception of a lease are deferred and amortized over the term of the lease. The unamortized balance of such amounts was $8,277 and $6,716 at June 1, 2019 November 24, 2018, June 1, 2019 November 24, 2018 We also have guaranteed certain lease obligations of licensee operators. Lease guarantees range from 1 to 10 years. We were contingently liable under licensee lease obligation guarantees in the amount of $1,886 and $2,021 at June 1, 2019 November 24, 2018, 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 June 1, 2019 November 24, 2018 not

Note 12 - Earnings Per Share

Note 12 - Earnings Per Share	6 Months Ended
	Jun. 01, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	1 2 . 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 June 1, 2019: Basic earnings per share $ 445 10,433,492 $ 0.04 Add effect of dilutive securities: Options and restricted shares - 26,329 - Diluted earnings per share $ 445 10,459,821 $ 0.04 For the quarter ended May 26, 2018: Basic earnings per share $ 4,289 10,701,154 $ 0.40 Add effect of dilutive securities: Options and restricted shares - 40,182 - Diluted earnings per share $ 4,289 10,741,336 $ 0.40 For the six months ended June 1, 2019: Basic earnings per share $ 1,053 10,444,306 $ 0.10 Add effect of dilutive securities: Options and restricted shares - 27,530 - Diluted earnings per share $ 1,053 10,471,836 $ 0.10 For the six months ended May 26, 2018: Basic earnings per share $ 3,376 10,693,815 $ 0.32 Add effect of dilutive securities: Options and restricted shares - 53,936 (0.01 ) Diluted earnings per share $ 3,376 10,747,751 $ 0.31 For the three six June 1, 2019 May 26, 2018, Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Unvested shares 45,653 5,292 45,653 5,292

Note 13 - Segment Information

Note 13 - Segment Information	6 Months Ended
	Jun. 01, 2019
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 3 . Segment Information We have strategically aligned our business into three reportable segments as defined in ASC 280, Segment Reporting ● Wholesale. 3, ● Retail – Company-owned s tores. ● Logistical services . third three six June 1, 2019, three six May 26, 2018, During the fourth 2018, no not third third 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 The following table presents our segment information: Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Sales Revenue Wholesale $ 63,131 $ 63,788 $ 135,912 $ 126,888 Retail - Company-owned stores 62,568 68,682 132,197 133,343 Logistical services 20,093 21,229 41,844 42,651 Inter-company eliminations: Furniture and accessories (29,875 ) (29,795 ) (64,929 ) (61,433 ) Logistical services (7,727 ) (6,924 ) (15,993 ) (14,197 ) Consolidated $ 108,190 $ 116,980 $ 229,031 $ 227,252 Income from Operations Wholesale $ 3,173 $ 3,039 $ 7,355 $ 6,103 Retail - Company-owned stores (2,953 ) 1,626 (5,999 ) 113 Logistical services 252 289 964 619 Inter-company elimination 229 709 165 878 Early retirement program - - (835 ) - Consolidated $ 701 $ 5,663 $ 1,650 $ 7,713 Depreciation and Amortization Wholesale $ 827 $ 757 $ 1,645 $ 1,460 Retail - Company-owned stores 1,544 1,603 3,049 3,201 Logistical services 994 1,024 2,041 2,027 Consolidated $ 3,365 $ 3,384 $ 6,735 $ 6,688 Capital Expenditures Wholesale $ 1,075 $ 1,113 $ 2,140 $ 2,330 Retail - Company-owned stores 1,373 1,861 5,390 4,478 Logistical services 313 730 783 854 Consolidated $ 2,761 $ 3,704 $ 8,313 $ 7,662 As of As of Identifiable Assets June 1, 2019 November 24, 2018 Wholesale $ 133,828 $ 144,209 Retail - Company-owned stores 101,658 96,241 Logistical services 45,015 51,191 Consolidated $ 280,501 $ 291,641 Wholesale shipments by type Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Bassett Custom Upholstery $ 36,853 58.4 % $ 36,506 57.2 % $ 78,391 57.7 % $ 70,074 55.2 % Bassett Leather 4,463 7.1 % 5,082 8.0 % 10,234 7.5 % 11,606 9.1 % Bassett Custom Wood 10,526 16.7 % 11,184 17.5 % 22,201 16.3 % 22,171 17.5 % Bassett Casegoods 9,979 15.8 % 9,948 15.6 % 22,619 16.6 % 20,745 16.3 % Accessories 1,310 2.1 % 1,068 1.7 % 2,467 1.8 % 2,292 1.8 % Total $ 63,131 100.0 % $ 63,788 100.0 % $ 135,912 100.0 % $ 126,888 100.0 %

Note 14 - Revenue Recognition

Note 14 - Revenue Recognition	6 Months Ended
	Jun. 01, 2019
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	14. We adopted ASU 2014 09, 606 606" November 25, 2018, 2019 606 At wholesale, transfer occurs and revenue is recognized upon the shipment of goods to independent dealers and licensee-owned BHF stores. We offer payment terms varying from 30 to 60 days for wholesale customers. Estimates for returns and allowances have been recorded as a reduction of revenue based on our historical return patterns. The contracts with our licensee store owners do not At retail, transfer occurs and revenue is recognized upon delivery of goods to the customer. We typically collect a significant portion of the purchase price as a customer deposit upon order, with the balance typically collected upon delivery. These deposits are carried on our balance sheet as a current liability until delivery is fulfilled and amounted to $24,910 and $27,157 as of June 1, 2019 November 24, 2018, November 24, 2018 six June 1, 2019. third third For our logistical services segment, line-haul freight revenue is recognized as services are performed and are billed to the customer upon the completion of delivery to the destination. Because the customer receives the benefits of these services as the freight is in transit from point of origin to destination, we recognize revenue using a percentage of completion method based on our estimate the amount of time freight has been in transit as of the reporting date compared with our estimate total required time for the deliveries. We recognize an asset for the amount of line-haul revenue earned but not June 1, 2019 first 2019. Sales commissions are expensed as part of selling, general and administrative expenses at the time revenue is recognized because the amortization period would have been one June 1, 2019 November 24, 2018, not We adopted ASC 606 not November 24, 2018 not 606 not 606 Upon adoption of ASC 606, ● We exclude from revenue amounts collected from customers for sales tax, which is consistent with our policy prior to the adoption of ASC 606. ● We do not ● We do not See Note 13,

Note 15 - Changes to Stockholde

Note 15 - Changes to Stockholders' Equity	6 Months Ended
	Jun. 01, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	15. The following changes in our stockholders’ equity occurred during the three six June 1, 2019 May 26, 2018: Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Common Stock: Beginning of period $ 52,598 $ 53,776 $ 52,638 $ 53,690 Issuance of common stock 64 61 281 254 Purchase and retirement of common stock (400 ) (101 ) (657 ) (208 ) End of period $ 52,262 $ 53,736 $ 52,262 $ 53,736 Common Shares Issued and Outstanding: Beginning of period 10,519,640 10,755,291 10,527,636 10,737,950 Issuance of common stock 12,729 12,165 56,201 50,806 Purchase and retirement of common stock (80,024 ) (20,334 ) (131,492 ) (41,634 ) End of period 10,452,345 10,747,122 10,452,345 10,747,122 Additional Paid-in Capital: Beginning of period $ - $ 499 $ - $ 962 Issuance of common stock 21 56 (97 ) (53 ) Purchase and retirement of common stock (242 ) (477 ) (379 ) (1,136 ) Stock based compensation 221 304 476 609 End of period $ - $ 382 $ - $ 382 Retained Earnings: Beginning of period $ 138,687 $ 137,827 $ 140,009 $ 139,378 Cumulative effect of a change in accounting principal - - (21 ) - Reclassification of certain tax effects from accumulated other comprehensive loss - - - 545 Net income for the period 445 4,289 1,053 3,376 Purchase and retirement of common stock (693 ) - (1,311 ) - Cash dividends (1,312 ) (1,182 ) (2,603 ) (2,365 ) End of period $ 137,127 $ 140,934 $ 137,127 $ 140,934 Accumulated Other Comprehensive Loss: Beginning of period $ (2,280 ) $ (3,036 ) $ (2,338 ) $ (2,570 ) Reclassification of certain tax effects from accumulated other comprehensive loss - - - (545 ) Amortization of pension costs, net of tax 57 80 115 159 End of period $ (2,223 ) $ (2,956 ) $ (2,223 ) $ (2,956 )

Note 16 - Recent Accounting Pro

Note 16 - Recent Accounting Pronouncements	6 Months Ended
	Jun. 01, 2019
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	1 6 . Recent Accounting Pronouncements In February 2016, the FASB issued Accounting Standards Update No. 2016 - 02, Leases (Topic 842 ). The guidance in ASU 2016 - 02 (as subsequently amended by ASU 2018 - 01, ASU 2018 - 10, ASU 2018 - 11, ASU 2018 - 20 and ASU 2019 - 01 ) requires that a lessee recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. As with previous guidance, there continues to be a differentiation between finance leases and operating leases, however this distinction now primarily relates to differences in the manner of expense recognition over time and in the classification of lease payments in the statement of cash flows. Lease assets and liabilities arising from both finance and operating leases will be recognized in the statement of financial position. ASU 2016 - 02 leaves the accounting for leases by lessors largely unchanged from previous GAAP. The transitional guidance for adopting the requirements of ASU 2016 - 02 calls for a modified retrospective approach that includes a number of optional practical expedients that entities may elect to apply. In addition, ASU 2018 - 11 provides for an additional (and optional) transition method by which entities may elect to initially apply the transition requirements in Topic 842 at that Topic’s effective date with the effects of initially applying Topic 842 recognized as a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption and without retrospective application to any comparative prior periods presented. Also, ASU 2018 - 20 provides certain narrow-scope improvements to Topic 842 as it relates to lessors. The guidance in ASU 2016 - 02 will become effective for us as of the beginning of our 2020 fiscal year. We are currently evaluating the impact that the adoption of ASU 2016 - 02 will have on our consolidated financial statements, which we expect will have a material effect on our statement of financial position (refer to Note 11 for information regarding our leases currently classified as operating leases under ASC Topic 840 ). We have acquired a lease accounting software package and are currently in the process of entering lease data into the system and testing outputs against the requirements of Topic 842. We currently anticipate that we will adopt the guidance of ASU 2016 - 02 as of the beginning of our 2020 fiscal year using the optional transition method as provided by ASU 2018 - 11. In January 2017, the FASB issued Accounting Standards Update No. 2017 - 04, Intangibles – Goodwill and Other (Topic 350 ): Simplifying the Test for Goodwill Impairment . ASU 2017 - 04 eliminates Step 2 from the goodwill impairment test. Under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in ASU 2017 - 04, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The amendments in ASU 2017 - 04 will become effective for us as of the beginning of our 2021 fiscal year. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of this guidance is not expected to have a material impact upon our financial condition or results of operations. In August 2018, the FASB issued Accounting Standards Update No. 2018 - 15, Accounting Standards Update No. 2018 - 15 – Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350 - 40 ): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , to help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement (hosting arrangement) by providing guidance for determining when the arrangement includes a software license. The amendments in ASU 2018 - 15 align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the amendments in ASU 2018 - 15. The amendments in ASU 2018 - 15 will become effective for us as of the beginning of our 2021 fiscal year. Early adoption is permitted, including adoption in any interim period. We are currently evaluating the impact that this guidance will have upon our financial position and results of operations, if any.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 01, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	In February 2016, the FASB issued Accounting Standards Update No. 2016 - 02, Leases (Topic 842 ). The guidance in ASU 2016 - 02 (as subsequently amended by ASU 2018 - 01, ASU 2018 - 10, ASU 2018 - 11, ASU 2018 - 20 and ASU 2019 - 01 ) requires that a lessee recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of 12 months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and lease liabilities. As with previous guidance, there continues to be a differentiation between finance leases and operating leases, however this distinction now primarily relates to differences in the manner of expense recognition over time and in the classification of lease payments in the statement of cash flows. Lease assets and liabilities arising from both finance and operating leases will be recognized in the statement of financial position. ASU 2016 - 02 leaves the accounting for leases by lessors largely unchanged from previous GAAP. The transitional guidance for adopting the requirements of ASU 2016 - 02 calls for a modified retrospective approach that includes a number of optional practical expedients that entities may elect to apply. In addition, ASU 2018 - 11 provides for an additional (and optional) transition method by which entities may elect to initially apply the transition requirements in Topic 842 at that Topic’s effective date with the effects of initially applying Topic 842 recognized as a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption and without retrospective application to any comparative prior periods presented. Also, ASU 2018 - 20 provides certain narrow-scope improvements to Topic 842 as it relates to lessors. The guidance in ASU 2016 - 02 will become effective for us as of the beginning of our 2020 fiscal year. We are currently evaluating the impact that the adoption of ASU 2016 - 02 will have on our consolidated financial statements, which we expect will have a material effect on our statement of financial position (refer to Note 11 for information regarding our leases currently classified as operating leases under ASC Topic 840 ). We have acquired a lease accounting software package and are currently in the process of entering lease data into the system and testing outputs against the requirements of Topic 842. We currently anticipate that we will adopt the guidance of ASU 2016 - 02 as of the beginning of our 2020 fiscal year using the optional transition method as provided by ASU 2018 - 11. In January 2017, the FASB issued Accounting Standards Update No. 2017 - 04, Intangibles – Goodwill and Other (Topic 350 ): Simplifying the Test for Goodwill Impairment . ASU 2017 - 04 eliminates Step 2 from the goodwill impairment test. Under Step 2, an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in ASU 2017 - 04, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The amendments in ASU 2017 - 04 will become effective for us as of the beginning of our 2021 fiscal year. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of this guidance is not expected to have a material impact upon our financial condition or results of operations. In August 2018, the FASB issued Accounting Standards Update No. 2018 - 15, Accounting Standards Update No. 2018 - 15 – Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350 - 40 ): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , to help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement (hosting arrangement) by providing guidance for determining when the arrangement includes a software license. The amendments in ASU 2018 - 15 align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The accounting for the service element of a hosting arrangement that is a service contract is not affected by the amendments in ASU 2018 - 15. The amendments in ASU 2018 - 15 will become effective for us as of the beginning of our 2021 fiscal year. Early adoption is permitted, including adoption in any interim period. We are currently evaluating the impact that this guidance will have upon our financial position and results of operations, if any.

Note 3 - Business Combinations

Note 3 - Business Combinations (Tables)	6 Months Ended
	Jun. 01, 2019
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Allocation of the fair value of consideration transferred: Identifiable assets acquired: Accounts receivable, net of reserve $ 1,507 Inventory, net of reserve 3,718 Prepaid expenses and other current assets 37 Intangible assets 7,360 Total identifiable assets acquired 12,622 Liabilities assumed: Accounts payable (357 ) Other accrued liabilities (852 ) Total liabilities assumed (1,209 ) Net identifiable assets acquired 11,413 Goodwill 4,143 Total net assets acquired $ 15,556
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	Useful Life Description In Years Fair Value Trade name Indefinite $ 6,848 Customer relationships 9 512 Total acquired intangible assets $ 7,360

Note 5 - Accounts Receivable (T

Note 5 - Accounts Receivable (Tables)	6 Months Ended
	Jun. 01, 2019
Notes Tables
Schedule Of Accounts Receivable [Table Text Block]	June 1, 2019 November 24, 2018 Gross accounts receivable $ 21,677 $ 19,809 Allowance for doubtful accounts (771 ) (754 ) Accounts receivable, net $ 20,906 $ 19,055
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block]	Balance at November 24, 2018 $ 754 Additions to allowance, net 17 Balance at June 1, 2019 $ 771

Note 6 - Inventories (Tables)

Note 6 - Inventories (Tables)	6 Months Ended
	Jun. 01, 2019
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 1, 2019 November 24, 2018 Wholesale finished goods $ 28,034 $ 30,750 Work in process 512 432 Raw materials and supplies 17,090 15,503 Retail merchandise 31,837 27,599 Total inventories on first-in, first-out method 77,473 74,284 LIFO adjustment (8,456 ) (8,326 ) Reserve for excess and obsolete inventory (2,302 ) (1,766 ) $ 66,715 $ 64,192
Activity In Reserves For Excess Quantities And Obsolete Inventory By Segment [Table Text Block]	Wholesale Segment Retail Segment Total Balance at November 24, 2018 $ 1,500 $ 266 $ 1,766 Additions charged to expense 1,066 208 1,274 Write-offs (569 ) (169 ) (738 ) Balance at June 1, 2019 $ 1,997 $ 305 $ 2,302

Note 7 - Goodwill and Other I_2

Note 7 - Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 01, 2019
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	June 1, 2019 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization Customer relationships $ 3,550 $ (958 ) $ 2,592 Technology - customized applications 834 (516 ) 318 Total intangible assets subject to amortization 4,384 (1,474 ) 2,910 Intangibles not subject to amortization: Trade names 9,338 - 9,338 Goodwill 16,043 - 16,043 Total goodwill and other intangible assets $ 29,765 $ (1,474 ) $ 28,291 November 24, 2018 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization Customer relationships $ 3,550 $ (829 ) $ 2,721 Technology - customized applications 834 (456 ) 378 Total intangible assets subject to amortization 4,384 (1,285 ) 3,099 Intangibles not subject to amortization: Trade names 9,338 - 9,338 Goodwill 16,043 - 16,043 Total goodwill and other intangible assets $ 29,765 $ (1,285 ) $ 28,480
Schedule of Goodwill [Table Text Block]	Wholesale $ 9,188 Retail 1,926 Logistical services 4,929 Total goodwill $ 16,043
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Intangible asset amortization expense $ 95 $ 95 $ 190 $ 185
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Remainder of fiscal 2019 $ 189 Fiscal 2020 379 Fiscal 2021 379 Fiscal 2022 279 Fiscal 2023 259 Fiscal 2024 259 Thereafter 1,166 Total $ 2,910

Note 9 - Post Employment Bene_2

Note 9 - Post Employment Benefit Obligations (Tables)	6 Months Ended
	Jun. 01, 2019
Notes Tables
Schedule of Pension Liability [Table Text Block]	June 1, 2019 November 24, 2018 Accrued compensation and benefits $ 798 $ 798 Post employment benefit obligations 10,364 10,854 Total pension liability $ 11,162 $ 11,652
Schedule of Net Benefit Costs [Table Text Block]	Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Service cost $ 47 $ 49 $ 94 $ 98 Interest cost 110 105 221 210 Amortization of prior service costs 31 31 63 62 Amortization of transition obligation - 11 - 22 Amortization of loss 46 65 92 130 Net periodic pension cost $ 234 $ 261 $ 470 $ 522
Schedule of Deferred Compensation Liability [Table Text Block]	June 1, 2019 November 24, 2018 Accrued compensation and benefits $ 266 $ 266 Post employment benefit obligations 2,258 2,053 Total deferred compensation liability $ 2,524 $ 2,319
Recognized Deferred Compensation Expense [Table Text Block]	Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Deferred compensation expense $ 84 $ 80 $ 183 $ 159

Note 11 - Commitments and Con_2

Note 11 - Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 01, 2019
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Retail Stores Warehousing & Distribution Centers Transportation Equipment All Other Total Remainder of fiscal 2019 $ 12,308 $ 2,893 $ 2,240 $ 870 $ 18,311 Fiscal 2020 24,078 5,440 4,230 1,637 35,385 Fiscal 2021 21,501 4,835 3,060 970 30,366 Fiscal 2022 19,002 4,586 2,151 487 26,226 Fiscal 2023 16,808 3,182 1,263 - 21,253 Fiscal 2024 12,957 1,291 958 - 15,206 Thereafter 39,919 676 354 - 40,949 Total future minimum lease payments $ 146,573 $ 22,903 $ 14,256 $ 3,964 $ 187,696

Note 12 - Earnings Per Share (T

Note 12 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 01, 2019
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 June 1, 2019: Basic earnings per share $ 445 10,433,492 $ 0.04 Add effect of dilutive securities: Options and restricted shares - 26,329 - Diluted earnings per share $ 445 10,459,821 $ 0.04 For the quarter ended May 26, 2018: Basic earnings per share $ 4,289 10,701,154 $ 0.40 Add effect of dilutive securities: Options and restricted shares - 40,182 - Diluted earnings per share $ 4,289 10,741,336 $ 0.40 For the six months ended June 1, 2019: Basic earnings per share $ 1,053 10,444,306 $ 0.10 Add effect of dilutive securities: Options and restricted shares - 27,530 - Diluted earnings per share $ 1,053 10,471,836 $ 0.10 For the six months ended May 26, 2018: Basic earnings per share $ 3,376 10,693,815 $ 0.32 Add effect of dilutive securities: Options and restricted shares - 53,936 (0.01 ) Diluted earnings per share $ 3,376 10,747,751 $ 0.31
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Unvested shares 45,653 5,292 45,653 5,292

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	6 Months Ended
	Jun. 01, 2019
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Sales Revenue Wholesale $ 63,131 $ 63,788 $ 135,912 $ 126,888 Retail - Company-owned stores 62,568 68,682 132,197 133,343 Logistical services 20,093 21,229 41,844 42,651 Inter-company eliminations: Furniture and accessories (29,875 ) (29,795 ) (64,929 ) (61,433 ) Logistical services (7,727 ) (6,924 ) (15,993 ) (14,197 ) Consolidated $ 108,190 $ 116,980 $ 229,031 $ 227,252 Income from Operations Wholesale $ 3,173 $ 3,039 $ 7,355 $ 6,103 Retail - Company-owned stores (2,953 ) 1,626 (5,999 ) 113 Logistical services 252 289 964 619 Inter-company elimination 229 709 165 878 Early retirement program - - (835 ) - Consolidated $ 701 $ 5,663 $ 1,650 $ 7,713 Depreciation and Amortization Wholesale $ 827 $ 757 $ 1,645 $ 1,460 Retail - Company-owned stores 1,544 1,603 3,049 3,201 Logistical services 994 1,024 2,041 2,027 Consolidated $ 3,365 $ 3,384 $ 6,735 $ 6,688 Capital Expenditures Wholesale $ 1,075 $ 1,113 $ 2,140 $ 2,330 Retail - Company-owned stores 1,373 1,861 5,390 4,478 Logistical services 313 730 783 854 Consolidated $ 2,761 $ 3,704 $ 8,313 $ 7,662 As of As of Identifiable Assets June 1, 2019 November 24, 2018 Wholesale $ 133,828 $ 144,209 Retail - Company-owned stores 101,658 96,241 Logistical services 45,015 51,191 Consolidated $ 280,501 $ 291,641
Wholesale Revenue by Major Product Category [Table Text Block]	Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Bassett Custom Upholstery $ 36,853 58.4 % $ 36,506 57.2 % $ 78,391 57.7 % $ 70,074 55.2 % Bassett Leather 4,463 7.1 % 5,082 8.0 % 10,234 7.5 % 11,606 9.1 % Bassett Custom Wood 10,526 16.7 % 11,184 17.5 % 22,201 16.3 % 22,171 17.5 % Bassett Casegoods 9,979 15.8 % 9,948 15.6 % 22,619 16.6 % 20,745 16.3 % Accessories 1,310 2.1 % 1,068 1.7 % 2,467 1.8 % 2,292 1.8 % Total $ 63,131 100.0 % $ 63,788 100.0 % $ 135,912 100.0 % $ 126,888 100.0 %

Note 15 - Changes to Stockhol_2

Note 15 - Changes to Stockholders' Equity (Tables)	6 Months Ended
	Jun. 01, 2019
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Quarter Ended Six Months Ended June 1, 2019 May 26, 2018 June 1, 2019 May 26, 2018 Common Stock: Beginning of period $ 52,598 $ 53,776 $ 52,638 $ 53,690 Issuance of common stock 64 61 281 254 Purchase and retirement of common stock (400 ) (101 ) (657 ) (208 ) End of period $ 52,262 $ 53,736 $ 52,262 $ 53,736 Common Shares Issued and Outstanding: Beginning of period 10,519,640 10,755,291 10,527,636 10,737,950 Issuance of common stock 12,729 12,165 56,201 50,806 Purchase and retirement of common stock (80,024 ) (20,334 ) (131,492 ) (41,634 ) End of period 10,452,345 10,747,122 10,452,345 10,747,122 Additional Paid-in Capital: Beginning of period $ - $ 499 $ - $ 962 Issuance of common stock 21 56 (97 ) (53 ) Purchase and retirement of common stock (242 ) (477 ) (379 ) (1,136 ) Stock based compensation 221 304 476 609 End of period $ - $ 382 $ - $ 382 Retained Earnings: Beginning of period $ 138,687 $ 137,827 $ 140,009 $ 139,378 Cumulative effect of a change in accounting principal - - (21 ) - Reclassification of certain tax effects from accumulated other comprehensive loss - - - 545 Net income for the period 445 4,289 1,053 3,376 Purchase and retirement of common stock (693 ) - (1,311 ) - Cash dividends (1,312 ) (1,182 ) (2,603 ) (2,365 ) End of period $ 137,127 $ 140,934 $ 137,127 $ 140,934 Accumulated Other Comprehensive Loss: Beginning of period $ (2,280 ) $ (3,036 ) $ (2,338 ) $ (2,570 ) Reclassification of certain tax effects from accumulated other comprehensive loss - - - (545 ) Amortization of pension costs, net of tax 57 80 115 159 End of period $ (2,223 ) $ (2,956 ) $ (2,223 ) $ (2,956 )

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 01, 2019	May 26, 2018
Net Cash Provided by (Used in) Operating Activities, Total	$ (8,942)	$ 279
Net Cash Provided by (Used in) Investing Activities, Total	(7,959)	(21,282)
Net Cash Provided by (Used in) Financing Activities, Total	$ (4,986)	(10,397)
Reclassification Of Investments in Company-owned Life Insurance Due to ASU 2016-15 [Member]
Net Cash Provided by (Used in) Operating Activities, Total		527
Net Cash Provided by (Used in) Investing Activities, Total		(527)
Reclassification Representing Portion of Debt Payment Attributable to Discount Accretion Due to ASU 2016-15 [Member]
Net Cash Provided by (Used in) Operating Activities, Total		(78)
Net Cash Provided by (Used in) Financing Activities, Total		$ 78

Note 2 - Interim Financial Pr_2

Note 2 - Interim Financial Presentation (Details Textual) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	May 26, 2018	May 26, 2018	Nov. 30, 2019	Nov. 24, 2018	Nov. 25, 2017
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				22.20%	35.00%
Effective Income Tax Rate Reconciliation, Percent, Total	21.30%	51.40%
Tax Cuts and Jobs Act of 2017 Provisional Adjustment of Deferred Tax Asset Liability	$ (155)	$ 2,032
Effective Income Tax Rate Reconciliation, Share-based Compensation, Excess Tax Benefit, Amount	16	$ 197
Proceeds from Life Insurance Policy	$ 266
Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21.00%

Note 3 - Business Combination_2

Note 3 - Business Combinations (Details Textual) - Acquisition of Lane Venture [Member] - USD ($) $ in Thousands	Dec. 21, 2017	May 26, 2018	May 26, 2018
Payments to Acquire Businesses, Gross	$ 15,556
Business Combination, Acquisition Related Costs		$ 26	$ 254

Note 3 - Business Combination_3

Note 3 - Business Combinations - Acquisitions (Details) - USD ($) $ in Thousands	Jun. 01, 2019	Nov. 24, 2018	Dec. 21, 2017
Goodwill	$ 16,043	$ 16,043
Acquisition of Lane Venture [Member]
Accounts receivable, net of reserve			$ 1,507
Inventory, net of reserve			3,718
Prepaid expenses and other current assets			37
Intangible assets			7,360
Total identifiable assets acquired			12,622
Accounts payable			(357)
Other accrued liabilities			(852)
Total liabilities assumed			(1,209)
Net identifiable assets acquired			11,413
Goodwill			4,143
Total net assets acquired			$ 15,556

Note 3 - Business Combination_4

Note 3 - Business Combinations - Acquired Identifiable Intangible Assets (Details) - Acquisition of Lane Venture [Member] $ in Thousands	Dec. 21, 2017USD ($)
Intangible assets	$ 7,360
Customer Relationships [Member]
Intangible assets	$ 512
Useful Life (Year)	9 years
Trade Names [Member]
Intangible assets	$ 6,848

Note 4 - Financial Instrument_2

Note 4 - Financial Instruments and Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 01, 2019	Nov. 24, 2018
Short-term Investments, Total	$ 22,643	$ 22,643
Certificates of Deposit Terms	11 months
Minimum [Member]
Interest Rate of Certificates of Deposit	0.85%
Maximum [Member]
Interest Rate of Certificates of Deposit	2.70%
Weighted Average [Member]
Certificates of Deposit Terms	2 months
Interest Rate of Certificates of Deposit	2.45%

Note 5 - Accounts Receivable -

Note 5 - Accounts Receivable - Accounts Receivable (Details) - USD ($) $ in Thousands	Jun. 01, 2019	Nov. 24, 2018
Gross accounts receivable	$ 21,677	$ 19,809
Allowance for doubtful accounts	(771)	(754)
Accounts receivable, net	$ 20,906	$ 19,055

Note 5 - Accounts Receivable _2

Note 5 - Accounts Receivable - Activity in Allowance for Doubtful Accounts (Details) $ in Thousands	6 Months Ended
	Jun. 01, 2019USD ($)
Balance, beginning	$ 754
Additions to allowance, net	17
Balance, ending	$ 771

Note 6 - Inventories (Details T

Note 6 - Inventories (Details Textual) $ in Thousands	6 Months Ended
	Jun. 01, 2019USD ($)
Inventory Write-down	$ 1,274
Wholesale Segment [Member] | Juvenile Furniture Line of Business [Member]
Inventory Write-down	$ 390

Note 6 - Inventories - Inventor

Note 6 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Jun. 01, 2019	Nov. 24, 2018
Wholesale finished goods	$ 28,034	$ 30,750
Work in process	512	432
Raw materials and supplies	17,090	15,503
Retail merchandise	31,837	27,599
Total inventories on first-in, first-out method	77,473	74,284
LIFO adjustment	(8,456)	(8,326)
Reserve for excess and obsolete inventory	(2,302)	(1,766)
Inventory, net	$ 66,715	$ 64,192

Note 6 - Inventories - Activity

Note 6 - Inventories - Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment (Details) $ in Thousands	6 Months Ended
	Jun. 01, 2019USD ($)
Balance, beginning	$ 1,766
Inventory Write-down	1,274
Write-offs	(738)
Balance, ending	2,302
Operating Segments [Member] | Wholesale Segment [Member]
Balance, beginning	1,500
Inventory Write-down	1,066
Write-offs	(569)
Balance, ending	1,997
Operating Segments [Member] | Retail Segment [Member]
Balance, beginning	266
Inventory Write-down	208
Write-offs	(169)
Balance, ending	$ 305

Note 7 - Goodwill and Other I_3

Note 7 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	Jun. 01, 2019	Nov. 24, 2018
Goodwill, Impaired, Accumulated Impairment Loss	$ 0	$ 0

Note 7 - Goodwill and Other I_4

Note 7 - Goodwill and Other Intangible Assets - Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 01, 2019	Nov. 24, 2018
Intangibles subject to amortization, Gross Carrying Amount	$ 4,384	$ 4,384
Intangibles subject to amortization, Accumulated Amortization	(1,474)	(1,285)
Intangibles subject to amortization, Intangible Assets, Net	2,910	3,099
Trade names	9,338	9,338
Goodwill	16,043	16,043
Total goodwill and other intangible assets	29,765	29,765
Total goodwill and other intangible assets	28,291	28,480
Customer Relationships [Member]
Intangibles subject to amortization, Gross Carrying Amount	3,550	3,550
Intangibles subject to amortization, Accumulated Amortization	(958)	(829)
Intangibles subject to amortization, Intangible Assets, Net	2,592	2,721
Technology-Based Intangible Assets [Member]
Intangibles subject to amortization, Gross Carrying Amount	834	834
Intangibles subject to amortization, Accumulated Amortization	(516)	(456)
Intangibles subject to amortization, Intangible Assets, Net	$ 318	$ 378

Note 7 - Goodwill and Other I_5

Note 7 - Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands	Jun. 01, 2019	Nov. 24, 2018
Carrying amounts of goodwill	$ 16,043	$ 16,043
Wholesale Segment [Member]
Carrying amounts of goodwill	9,188	9,188
Retail Segment [Member]
Carrying amounts of goodwill	1,926	1,926
Logistical Services [Member]
Carrying amounts of goodwill	$ 4,929	$ 4,929

Note 7 - Goodwill and Other I_6

Note 7 - Goodwill and Other Intangible Assets - Amortization Expense With Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 01, 2019	May 26, 2018	Jun. 01, 2019	May 26, 2018
Intangible asset amortization expense	$ 95	$ 95	$ 190	$ 185

Note 7 - Goodwill and Other I_7

Note 7 - Goodwill and Other Intangible Assets - Estimated Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 01, 2019	Nov. 24, 2018
Remainder of fiscal 2019	$ 189
Fiscal 2020	379
Fiscal 2021	379
Fiscal 2022	279
Fiscal 2023	259
Fiscal 2024	259
Thereafter	1,166
Total	$ 2,910	$ 3,099

Note 8 - Notes Payable and Ba_2

Note 8 - Notes Payable and Bank Credit Facility (Details Textual) - USD ($) $ in Thousands	Jun. 01, 2019	Nov. 24, 2018
Bank One [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 25,000
Letters of Credit Outstanding, Amount	2,798
Line of Credit Facility, Remaining Borrowing Capacity	22,202
Bank Two [Member]
Letters of Credit Outstanding, Amount	325
Real Estate Notes Payable Operated in Retail Segment [Member]
Long-term Debt, Total	$ 72	$ 292
Debt Instrument, Interest Rate, Stated Percentage	6.73%	6.73%
Debt Instrument, Collateral Amount	$ 5,536	$ 5,599

Note 9 - Post Employment Bene_3

Note 9 - Post Employment Benefit Obligations (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	May 27, 2017	Jun. 01, 2019	Mar. 02, 2019	Nov. 24, 2018
Unfunded Deferred Compensation Plan [Member]
Deferred Compensation Arrangement with Individual, Recorded Liability			$ 1,798	$ 1,837
Deferred Compensation, Management Savings Plan [Member]
Deferred Compensation Arrangement with Individual, Recorded Liability		$ 726		611
Management Savings Plan [member]
Deferred Compensation Arrangement with Individual, Contributions by Employer	$ 2,000
Defined Benefit Plan, Fixed Future Benefit Award, Individual Participants	$ 400
Deferred Compensation Arrangement with Individual, Recorded Liability		1,124		1,078
Supplemental Employee Retirement Plan [Member]
Liability, Other Postretirement Defined Benefit Plan		$ 10,038		$ 10,574

Note 9 - Post Employment Bene_4

Note 9 - Post Employment Benefit Obligations - Pension Liability (Details) - Pension Plans Defined Benefit and Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	Jun. 01, 2019	Nov. 24, 2018
Combined pension liability	$ 11,162	$ 11,652
Accrued Compensation and Benefits [Member]
Combined pension liability	798	798
Post Employment Benefit Obligations [Member]
Combined pension liability	$ 10,364	$ 10,854

Note 9 - Post Employment Bene_5

Note 9 - Post Employment Benefit Obligations - Components of Net Periodic Pension Cost (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 01, 2019	May 26, 2018	Jun. 01, 2019	May 26, 2018
Service cost	$ 47,000	$ 49,000	$ 94,000	$ 98,000
Interest cost	110,000	105,000	221,000	210,000
Amortization of prior service costs	31,000	31,000	63,000	62,000
Amortization of transition obligation	0	11,000	0	22,000
Amortization of loss	46,000	65,000	92,000	130,000
Net periodic pension cost	$ 234,000	$ 261,000	$ 470,000	$ 522,000

Note 9 - Post Employment Bene_6

Note 9 - Post Employment Benefit Obligations - Deferred Compensation Liability (Details) - Deferred Compensation Plans [Member] - USD ($) $ in Thousands	Jun. 01, 2019	Nov. 24, 2018
Liability for all deferred compensation arrangements	$ 2,524	$ 2,319
Accrued Compensation and Benefits [Member]
Liability for all deferred compensation arrangements	266	266
Post Employment Benefit Obligations [Member]
Liability for all deferred compensation arrangements	$ 2,258	$ 2,053

Note 9 - Post Employment Bene_7

Note 9 - Post Employment Benefit Obligations - Recognized Deferred Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 01, 2019	May 26, 2018	Jun. 01, 2019	May 26, 2018
Deferred compensation expense	$ 84	$ 80	$ 183	$ 159

Note 10 - Other Operating Los_2

Note 10 - Other Operating Losses (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 01, 2019	May 26, 2018	Jun. 01, 2019	May 26, 2018
Early Retirement Program, Benefits Payment Period			1 year
Early Retirement Program Expense	$ 0	$ 0	$ 835,000	$ 0
Proceeds from Sale of Property, Plant, and Equipment, Total			11,000	$ 2,463,000
Land and Building occupied by Spring, Texas Retail Store [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total		2,463,000
Gain (Loss) on Disposition of Property Plant Equipment, Total		$ 165,000
Other Current Liabilities [Member]
Liability, Other Retirement Benefits	$ 733,000		$ 733,000

Note 11 - Commitments and Con_3

Note 11 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 01, 2019	Nov. 24, 2018
Operating Lease, Lease and Rental Expense, Unamortized Balance	$ 8,277	$ 6,716
Operating Lease, Lease and Rental Expense, Unamortized Balance, Noncurrent	7,060	5,715
Lease Obligations of Licensee Operators [Member]
Loss Contingency, Estimate of Possible Loss	1,886	2,021
Other Current Assets [Member]
Prepaid Rent	$ 3,213	$ 245
Minimum [Member]
Lease Guarantees Term	1 year
Minimum [Member] | Retail Stores [Member]
Lessee, Operating Lease, Term of Contract	1 year
Lessee, Operating Lease, Renewal Term	5 years
Minimum [Member] | Transportation Equipment [Member]
Lessee, Operating Lease, Term of Contract	2 years
Maximum [Member]
Lease Guarantees Term	10 years
Maximum [Member] | Retail Stores [Member]
Lessee, Operating Lease, Term of Contract	15 years
Lessee, Operating Lease, Renewal Term	15 years
Maximum [Member] | Transportation Equipment [Member]
Lessee, Operating Lease, Term of Contract	7 years

Note 11 - Commitments and Con_4

Note 11 - Commitments and Contingencies - Future Minimum Lease Payments Under the Non-cancellable Operating Leases (Details)	Mar. 02, 2019USD ($)
Remainder of fiscal 2019	$ 18,311,000
Fiscal 2020	35,385,000
Fiscal 2021	30,366,000
Fiscal 2022	26,226,000
Fiscal 2023	21,253,000
Fiscal 2024	15,206,000
Thereafter	40,949,000
Total future minimum lease payments	187,696,000
Retail Stores [Member]
Remainder of fiscal 2019	12,308,000
Fiscal 2020	24,078,000
Fiscal 2021	21,501,000
Fiscal 2022	19,002,000
Fiscal 2023	16,808,000
Fiscal 2024	12,957,000
Thereafter	39,919,000
Total future minimum lease payments	146,573,000
Distribution Centers [Member]
Remainder of fiscal 2019	2,893,000
Fiscal 2020	5,440,000
Fiscal 2021	4,835,000
Fiscal 2022	4,586,000
Fiscal 2023	3,182,000
Fiscal 2024	1,291,000
Thereafter	676,000
Total future minimum lease payments	22,903,000
Transportation Equipment Leases [Member]
Remainder of fiscal 2019	2,240,000
Fiscal 2020	4,230,000
Fiscal 2021	3,060,000
Fiscal 2022	2,151,000
Fiscal 2023	1,263,000
Fiscal 2024	958,000
Thereafter	354,000
Total future minimum lease payments	14,256,000
All Other Lease Payment [Member]
Remainder of fiscal 2019	870,000
Fiscal 2020	1,637,000
Fiscal 2021	970,000
Fiscal 2022	487,000
Fiscal 2023	0
Fiscal 2024	0
Thereafter	0
Total future minimum lease payments	$ 3,964,000

Note 12 - Earnings Per Share -

Note 12 - Earnings Per Share - Reconciliation of Basic and Diluted Loss Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 01, 2019	May 26, 2018	Jun. 01, 2019	May 26, 2018
Basic earnings (loss) per share, net income (loss)	$ 445,000	$ 4,289,000	$ 1,053,000	$ 3,376,000
Basic earnings (loss) per share, weighted average shares (in shares)	10,433,492	10,701,154	10,444,306	10,693,815
Basic earnings per share (in dollars per share)	$ 0.04	$ 0.40	$ 0.10	$ 0.32
Options and restricted shares	$ 0	$ 0	$ 0	$ 0
Options and restricted shares, weighted average shares (in shares)	26,329	40,182	27,530	53,936
Options and restricted shares, net income per share (in dollars per share)	$ 0	$ 0	$ 0	$ (0.01)
Diluted earnings per share, net income (loss)	$ 445,000	$ 4,289,000	$ 1,053,000	$ 3,376,000
Diluted earnings per share, weighted average shares (in shares)	10,459,821	10,741,336	10,471,836	10,747,751
Diluted earnings per share (in dollars per share)	$ 0.04	$ 0.40	$ 0.10	$ 0.31

Note 12 - Earnings Per Share _2

Note 12 - Earnings Per Share - Antidilutive Securities (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 01, 2019	May 26, 2018	Jun. 01, 2019	May 26, 2018
Unvested Shares [Member]
Anti-dilutive securities (in shares)	45,653	5,292	45,653	5,292

Note 13 - Segment Information_2

Note 13 - Segment Information (Details Textual) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 01, 2019USD ($)	May 26, 2018USD ($)	Jun. 01, 2019USD ($)	May 26, 2018USD ($)
Number of Reportable Segments			3
Zenith Freight Lines [Member]
Operating Expenses, Total	$ 19,841	$ 20,940	$ 40,880	$ 42,032

Note 13 - Segment Information -

Note 13 - Segment Information - Segment Information by Segment (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 01, 2019	May 26, 2018	Jun. 01, 2019	May 26, 2018	Nov. 24, 2018
Sales revenue	$ 108,190,000	$ 116,980,000	$ 229,031,000	$ 227,252,000
Income (loss) from Operations	701,000	5,663,000	1,650,000	7,713,000
Early retirement program	0	0	(835,000)	0
Depreciation and amortization	3,365,000	3,384,000	6,735,000	6,688,000
Capital Expenditures
Capital expenditures	2,761,000	3,704,000	8,313,000	7,662,000
Identifiable Assets	280,501,000		280,501,000		$ 291,641,000
Wholesale Segment [Member]
Sales revenue	63,131,000	63,788,000	135,912,000	126,888,000
Operating Segments [Member] | Wholesale Segment [Member]
Sales revenue	63,131,000	63,788,000	135,912,000	126,888,000
Income (loss) from Operations	3,173,000	3,039,000	7,355,000	6,103,000
Depreciation and amortization	827,000	757,000	1,645,000	1,460,000
Capital Expenditures
Identifiable Assets	133,828,000		133,828,000		144,209,000
Operating Segments [Member] | Wholesale Segment [Member] | Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]
Capital Expenditures
Capital expenditures	1,075,000	1,113,000	2,140,000	2,330,000
Operating Segments [Member] | Company-owned Retail Stores [Member]
Sales revenue	62,568,000	68,682,000	132,197,000	133,343,000
Income (loss) from Operations	(2,953,000)	1,626,000	(5,999,000)	113,000
Depreciation and amortization	1,544,000	1,603,000	3,049,000	3,201,000
Capital Expenditures
Identifiable Assets	101,658,000		101,658,000		96,241,000
Operating Segments [Member] | Company-owned Retail Stores [Member] | Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]
Capital Expenditures
Capital expenditures	1,373,000	1,861,000	5,390,000	4,478,000
Operating Segments [Member] | Logistical Services [Member]
Sales revenue	20,093,000	21,229,000	41,844,000	42,651,000
Income (loss) from Operations	252,000	289,000	964,000	619,000
Depreciation and amortization	994,000	1,024,000	2,041,000	2,027,000
Capital Expenditures
Identifiable Assets	45,015,000		45,015,000		$ 51,191,000
Operating Segments [Member] | Logistical Services [Member] | Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]
Capital Expenditures
Capital expenditures	313,000	730,000	783,000	854,000
Intersegment Eliminations [Member]
Income (loss) from Operations	229,000	709,000	165,000	878,000
Intersegment Eliminations [Member] | Logistical Services [Member]
Sales revenue	(7,727,000)	(6,924,000)	(15,993,000)	(14,197,000)
Intersegment Eliminations [Member] | Furniture and Accessories [Member]
Sales revenue	$ (29,875,000)	$ (29,795,000)	$ (64,929,000)	$ (61,433,000)

Note 13 - Segment Information_3

Note 13 - Segment Information - Wholesale Shipments by Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 01, 2019	May 26, 2018	Jun. 01, 2019	May 26, 2018
Sales revenue	$ 108,190	$ 116,980	$ 229,031	$ 227,252
Wholesale Segment [Member]
Sales revenue	$ 63,131	$ 63,788	$ 135,912	$ 126,888
Sales, revenue, percent	100.00%	100.00%	100.00%	100.00%
Wholesale Segment [Member] | Upholstery [Member]
Sales revenue	$ 36,853	$ 36,506	$ 78,391	$ 70,074
Sales, revenue, percent	58.40%	57.20%	57.70%	55.20%
Wholesale Segment [Member] | Bassett Leather [Member]
Sales revenue	$ 4,463	$ 5,082	$ 10,234	$ 11,606
Sales, revenue, percent	7.10%	8.00%	7.50%	9.10%
Wholesale Segment [Member] | Bassett Custom Wood [Member]
Sales revenue	$ 10,526	$ 11,184	$ 22,201	$ 22,171
Sales, revenue, percent	16.70%	17.50%	16.30%	17.50%
Wholesale Segment [Member] | Bassett Casegoods [Member]
Sales revenue	$ 9,979	$ 9,948	$ 22,619	$ 20,745
Sales, revenue, percent	15.80%	15.60%	16.60%	16.30%
Wholesale Segment [Member] | Accessories [Member]
Sales revenue	$ 1,310	$ 1,068	$ 2,467	$ 2,292
Sales, revenue, percent	2.10%	1.70%	1.80%	1.80%

Note 14 - Revenue Recognition (

Note 14 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 01, 2019	Nov. 25, 2018	Nov. 24, 2018
Contract with Customer, Liability, Total	$ 24,910		$ 27,157
Contract with Customer, Asset, after Allowance for Credit Loss, Total	472	$ 512
Sales Commissions [Member] | Other Current Assets [Member]
Capitalized Contract Cost, Net, Total	$ 2,418		$ 2,739
Logistical Services [Member]
Invoice Payment Term	30 days
Minimum [Member]
Payment Terms For Wholesale Customers	30 days
Maximum [Member]
Payment Terms For Wholesale Customers	60 days
Contract with Customer, Timing of Payment	1 year
Revenue, Performance Obligation,Timing	1 year

Note 15 - Changes to Stockhol_3

Note 15 - Changes to Stockholders' Equity - Changes Occurred in Stockholders' Equity (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 01, 2019	May 26, 2018	Jun. 01, 2019	May 26, 2018
Balance			$ 190,309,000
Net income (loss) for the period	$ 445,000	$ 4,289,000	1,053,000	$ 3,376,000
Balance	187,166,000		187,166,000
Common Stock [Member]
Balance	52,598,000	53,776,000	52,638,000	53,690,000
Issuance of common stock	64,000	61,000	281,000	254,000
Purchase and retirement of common stock	$ (400,000)	$ (101,000)	$ (657,000)	$ (208,000)
Balance, shares (in shares)	10,519,640	10,755,291	10,527,636	10,737,950
Issuance of common stock, shares (in shares)	12,729	12,165	56,201	50,806
Purchase and retirement of common stock, shares (in shares)	(80,024)	(20,334)	(131,492)	(41,634)
Balance, shares (in shares)	10,452,345	10,747,122	10,452,345	10,747,122
Balance	$ 52,262,000	$ 53,736,000	$ 52,262,000	$ 53,736,000
Paid in Capital [Member]
Balance	0	499,000	0	962,000
Issuance of common stock	21,000	56,000	(97,000)	(53,000)
Purchase and retirement of common stock	(242,000)	(477,000)	(379,000)	(1,136,000)
Stock based compensation	221,000	304,000	476,000	609,000
Balance	0	382,000	0	382,000
Retained Earnings [Member]
Balance	138,687,000	137,827,000	140,009,000	139,378,000
Purchase and retirement of common stock	(693,000)	0	(1,311,000)	0
Cumulative effect of a change in accounting principal	0	0	(21,000)	0
Reclassification of certain tax effects from accumulated other comprehensive loss	0	0	0	545,000
Net income (loss) for the period	445,000	4,289,000	1,053,000	3,376,000
Cash dividends	(1,312,000)	(1,182,000)	(2,603,000)	(2,365,000)
Balance	137,127,000	140,934,000	137,127,000	140,934,000
AOCI Attributable to Parent [Member]
Balance	(2,280,000)	(3,036,000)	(2,338,000)	(2,570,000)
Reclassification of certain tax effects from accumulated other comprehensive loss	0	0	0	(545,000)
Amortization of pension costs, net of tax	57,000	80,000	115,000	159,000
Balance	$ (2,223,000)	$ (2,956,000)	$ (2,223,000)	$ (2,956,000)