Bassett Furniture Industries (BSET) 10-Q 1 Oct 20 2020 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Aug. 29, 2020	Sep. 25, 2020
Document Information [Line Items]
Entity Central Index Key	0000010329
Entity Registrant Name	BASSETT FURNITURE INDUSTRIES INC
Amendment Flag	false
Current Fiscal Year End Date	--11-28
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 29, 2020
Document Transition Report	false
Entity File Number	000-00209
Entity Incorporation, State or Country Code	VA
Entity Tax Identification Number	54-0135270
Entity Address, Address Line One	3525 Fairystone Park Highway
Entity Address, City or Town	Bassett
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	24055
City Area Code	276
Local Phone Number	629-6000
Title of 12(b) Security	Common Stock ($5.00 par value)
Trading Symbol	BSET
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,976,513

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019	Aug. 29, 2020	Aug. 31, 2019
Sales revenue:
Sales revenues	$ 91,559	$ 109,419	$ 267,480	$ 338,450
Cost of furniture and accessories sold	38,418	42,246	113,140	133,953
Selling, general and administrative expenses excluding new store pre-opening costs	50,394	63,519	165,407	197,495
New store pre-opening costs	0	254	0	1,117
Asset impairment charges	0	0	12,184	0
Goodwill impairment charge	0	0	1,971	0
Litigation expense	0	0	1,050	0
Early retirement program	0	0	0	835
Income (loss) from operations	2,747	3,400	(26,272)	5,050
Other income (loss), net	697	(298)	(430)	(566)
Income (loss) before income taxes	3,444	3,102	(26,702)	4,484
Income tax expense (benefit)	1,266	945	(9,738)	1,274
Net income (loss)	$ 2,178	$ 2,157	$ (16,964)	$ 3,210
Basic earnings (loss) per share (in dollars per share)	$ 0.22	$ 0.21	$ (1.70)	$ 0.31
Diluted earnings (loss) per share (in dollars per share)	0.22	0.21	(1.70)	0.31
Dividends per share (in dollars per share)	$ 0.08	$ 0.125	$ 0.33	$ 0.375
Furniture and Accessories [Member]
Sales revenue:
Sales revenues	$ 80,341	$ 98,369	$ 232,283	$ 301,550
Logistical Services [Member]
Sales revenue:
Sales revenues	$ 11,218	$ 11,050	$ 35,197	$ 36,900

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019	Aug. 29, 2020	Aug. 31, 2019
Net income (loss)	$ 2,178	$ 2,157	$ (16,964)	$ 3,210
Other comprehensive income:
Long Term Cash Awards (LTCA)	31	31	94	93
Other comprehensive income, net of tax	25	58	74	172
Total comprehensive income (loss)	2,203	2,215	(16,890)	3,382
Pension Plan [Member]
Other comprehensive income:
Income taxes related to LTCA	(8)	(8)	(24)	(24)
Supplemental Employee Retirement Plan [Member]
Other comprehensive income:
Long Term Cash Awards (LTCA)	2	47	5	139
Income taxes related to LTCA	$ 0	$ (12)	$ (1)	$ (36)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Aug. 29, 2020	Nov. 30, 2019
Current assets
Cash and cash equivalents	$ 31,029	$ 19,687
Short-term investments	17,661	17,436
Accounts receivable, net	19,099	21,378
Inventories	58,601	66,302
Recoverable income taxes	10,048	329
Other current assets	9,480	11,654
Total current assets	145,918	136,786
Property and equipment, net	89,031	101,724
Deferred income taxes	7,729	5,744
Goodwill and other intangible assets	23,921	26,176
Right of use assets under operating leases	120,889	0
Other	6,828	5,336
Total long-term assets	159,367	37,256
Total assets	394,316	275,766
Current liabilities
Accounts payable	19,215	23,677
Accrued compensation and benefits	14,463	11,308
Customer deposits	35,721	25,341
Current portion operating lease obligations	28,211	0
Other current liabilites and accrued expenses	12,874	11,945
Total current liabilities	110,484	72,271
Long-term liabilities
Post employment benefit obligations	12,023	11,830
Long-term portion of operating lease obligations	117,009	0
Other long-term liabilities	1,336	12,995
Total long-term liabilities	130,368	24,825
Stockholders’ equity
Common stock	49,883	50,581
Retained earnings	104,743	129,130
Additional paid-in capital	0	195
Accumulated other comprehensive loss	(1,162)	(1,236)
Total stockholders' equity	153,464	178,670
Total liabilities and stockholders’ equity	$ 394,316	$ 275,766

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019
Operating activities:
Net income (loss)	$ (16,964)	$ 3,210
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	10,249	10,092
Gain on lease modification	(152)	0
(Gain) loss on sale of property and equipment	39	(98)
Asset impairment charges	12,184	0
Goodwill impairment charge	1,971	0
Inventory valuation charges	3,814	1,753
Additions charged to expense	727	(5)
Deferred income taxes	(708)	22
Other, net	149	161
Changes in operating assets and liabilities:
Accounts receivable	1,552	(1,755)
Inventories	3,887	(3,858)
Other current assets	(8,898)	(1,986)
Right of use assets under operating leases	24,338	0
Customer deposits	10,380	(4,673)
Accounts payable and other liabilities	1,379	(4,922)
Obligations under operating leases	(26,464)	0
Net cash provided by (used in) operating activities	17,483	(2,059)
Investing activities:
Purchases of property and equipment	(2,214)	(10,651)
Proceeds from sales of property and equipment	2,345	119
Purchases of investments	(241)	0
Proceeds from maturities of investments	16	5,000
Other	(1,107)	(506)
Net cash used in investing activities	(1,201)	(6,038)
Financing activities:
Cash dividends	(3,306)	(3,867)
Proceeds from the exercise of stock options	0	25
Other issuance of common stock	217	246
Repurchases of common stock	(1,542)	(6,845)
Taxes paid related to net share settlement of equity awards	(214)	0
Repayments of finance lease obligations	(95)	0
Repayments of notes payable	0	(292)
Net cash used in financing activities	(4,940)	(10,733)
Change in cash and cash equivalents	11,342	(18,830)
Cash and cash equivalents - beginning of period	19,687	33,468
Cash and cash equivalents - end of period	$ 31,029	$ 14,638

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Aug. 29, 2020
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 operations 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 operations. Our fiscal year, which ends on the last Saturday of November, 53 52 November 30, 2019 53 first 2019. 39 nine August 29, 2020 40 nine August 31, 2019. Recently Adopted Accounting Pronouncements Effective as of the beginning of fiscal 2020, No. 2016 02, 842 2016 02 2018 01, 2018 10, 2018 11 2018 20 11, Impact of the COVID- 19 On March 11, 2020, 19” 19 In response to these measures and for the protection of our employees and customers, we temporarily closed our dedicated stores, our manufacturing locations and many of our warehouses for several weeks primarily during the second 2020. nine August 29, 2020. nine August 29, 2020 6 9 second 2020. third 2020 second June, third 2019. second second Whereas most state and local governments have eased restrictions on commercial retail activity, it is possible that a resurgence in COVID- 19 may 19

Note 2 - Interim Financial Pres

Note 2 - Interim Financial Presentation	9 Months Ended
	Aug. 29, 2020
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 nine August 29, 2020 not 10 November 30, 2019. Income Taxes 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 March 27, 2020 2018, 2019 2020 five three nine August 29, 2020 three nine August 31, 2019 21%

Note 3 - Financial Instruments

Note 3 - Financial Instruments and Fair Value Measurements	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	3 . Financial Instruments and Fair Value Measurements Financial Instruments Our financial instruments include cash and cash equivalents, short-term investments in certificates of deposit (CDs), accounts receivable, and accounts payable. Because of their short maturities, the carrying amounts of cash and cash equivalents, short-term investments in CDs, accounts receivable, and accounts payable approximate fair value. Investments Our short-term investments of $17,661 at August 29, 2020 November 30, 2019 August 29, 2020, eight August 29, 2020, five August 29, 2020 November 30, 2019 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. Our primary non-recurring fair value estimates typically involve business acquisitions or the impairment of long-lived assets (see Note 6 9 11 842 2 3

Note 4 - Accounts Receivable

Note 4 - Accounts Receivable	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	4 . Accounts Receivable Accounts receivable consists of the following: August 29, 2020 November 30, 2019 Gross accounts receivable $ 20,502 $ 22,193 Allowance for doubtful accounts (1,403 ) (815 ) Accounts receivable, net $ 19,099 $ 21,378 Activity in the allowance for doubtful accounts for the nine August 29, 2020 Balance at November 30, 2019 $ 815 Additions charged to expense 727 Write-offs against allowance (139 ) Balance at August 29, 2020 $ 1,403 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 3.

Note 5 - Inventories

Note 5 - Inventories	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Inventory Disclosure [Text Block]	5 . 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: August 29, 2020 November 30, 2019 Wholesale finished goods $ 25,493 $ 27,792 Work in process 531 733 Raw materials and supplies 14,255 17,293 Retail merchandise 31,774 31,534 Total inventories on first-in, first-out method 72,053 77,352 LIFO adjustment (8,896 ) (8,688 ) Reserve for excess and obsolete inventory (4,556 ) (2,362 ) Total Inventories $ 58,601 $ 66,302 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 30, 2019 $ 2,054 $ 308 $ 2,362 Additions charged to expense 3,280 534 3,814 Write-offs (1,491 ) (129 ) (1,620 ) Balance at August 29, 2020 $ 3,843 $ 713 $ 4,556 Our estimates and assumptions have been reasonably accurate in the past. We have not 2020 not

Note 6 - Goodwill and Other Int

Note 6 - Goodwill and Other Intangible Assets	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	6 . Goodwill and Other Intangible Assets Goodwill and other intangible assets consisted of the following: August 29, 2020 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization Customer relationships $ 3,550 $ (1,282 ) $ 2,268 Technology - customized applications 834 (665 ) 169 Total intangible assets subject to amortization $ 4,384 $ (1,947 ) 2,437 Intangibles not subject to amortization: Trade names 9,338 Goodwill 12,146 Total goodwill and other intangible assets $ 23,921 November 30, 2019 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization Customer relationships $ 3,550 $ (1,088 ) $ 2,462 Technology - customized applications 834 (575 ) 259 Total intangible assets subject to amortization $ 4,384 $ (1,663 ) 2,721 Intangibles not subject to amortization: Trade names 9,338 Goodwill 14,117 Total goodwill and other intangible assets $ 26,176 We normally test the carrying amount of our goodwill on an annual basis as of the beginning of our fourth September 1, 2019 19 May 30, 2020. 350, Intangibles – Goodwill & Other 350” , first not 350. not 50 second nine August 29, 2020. 3 820, Fair Value Measurements and Disclosure 3 19 19 Changes in the carrying amounts of goodwill by reportable segment are as follows: Wholesale Retail Logistics Total Balance as of November 30, 2019 $ 9,188 $ - $ 4,929 $ 14,117 Goodwill impairment (1,971 ) - - (1,971 ) Balance as of August 29, 2020 $ 7,217 $ - $ 4,929 $ 12,146 The carrying amounts of our goodwill at August 29, 2020 November 30, 2019 Wholesale Retail Logistics Total Balance as of November 30, 2019 $ - $ 1,926 $ - $ 1,926 Balance as of August 29, 2020 $ 1,971 $ 1,926 $ - $ 3,897 Amortization expense associated with intangible assets during the three nine August 29, 2020 August 31, 2019 Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Intangible asset amortization expense $ 95 $ 95 $ 284 $ 284 Estimated future amortization expense for intangible assets that exist at August 29, 2020 Remainder of fiscal 2020 $ 95 Fiscal 2021 379 Fiscal 2022 279 Fiscal 2023 259 Fiscal 2024 259 Fiscal 2025 259 Thereafter 907 Total $ 2,437

Note 7 - Bank Credit Facility

Note 7 - Bank Credit Facility	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	7 . Bank Credit Facility Bank Credit Facility Our bank credit facility, which was amended effective June 15, 2020, August 29, 2020, December 31, 2020, 2020. January 31, 2022.

Note 8 - Post Employment Benefi

Note 8 - Post Employment Benefit Obligations	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Postemployment Benefits Disclosure [Text Block]	8. Defined Benefit Plans We have an unfunded Supplemental Retirement Income Plan (the “Supplemental Plan”) that covers one August 29, 2020 November 30, 2019, We also have the Bassett Furniture Industries, Incorporated Management Savings Plan (the “Management Savings Plan”) which was established in the second 2017. August 29, 2020 November 30, 2019, The combined pension liability for the Supplemental Plan and LTC Awards is recorded as follows in the condensed consolidated balance sheets: August 29, 2020 November 30, 2019 Accrued compensation and benefits $ 655 $ 655 Post employment benefit obligations 9,444 9,435 Total pension liability $ 10,099 $ 10,090 Components of net periodic pension costs for our defined benefit plans for the three nine August 29, 2020 August 31, 2019 Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Service cost $ 43 $ 47 $ 130 $ 141 Interest cost 67 110 201 331 Amortization of prior service costs 31 31 94 94 Amortization of loss 2 46 6 138 Net periodic pension cost $ 143 $ 234 $ 431 $ 704 The components of net periodic pension cost other than the service cost component are included in other income (loss), net in our condensed consolidated statements of operations. Deferred Compensation Plan s We have an unfunded deferred compensation plan that covers one no August 29, 2020 November 30, 2019, 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 $1,124 and $894 as of August 29, 2020 November 30, 2019, 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: August 29, 2020 November 30, 2019 Accrued compensation and benefits $ 266 $ 266 Post employment benefit obligations 2,578 2,395 Total deferred compensation liability $ 2,844 $ 2,661 We recognized expense under our deferred compensation arrangements during the three nine August 29, 2020 August 31, 2019 Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Deferred compensation expense $ 190 $ 84 $ 483 $ 267

Note 9 - Other Gains and Losses

Note 9 - Other Gains and Losses	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Other Gains and Losses [Text Block]	9 . Other Gains & Losses Fiscal 2020 Asset Impairment Charges During the nine August 29, 2020 five 3 820, Fair Value Measurement and Disclosure 3 During the nine August 29, 2020 May. Litigation Expense During the nine August 29, 2020 August 29, 2020, may Gains from Company-Owned Life Insurance Other income (loss), net for the three nine August 29, 2020 nine August 31, 2019 Fiscal 2019 Early Retirement Program During the first 2019, one one nine August 31, 2019. August 29, 2020 November 30, 2019

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	1 0 . 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 9

Note 11 - Leases

Note 11 - Leases	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	1 1 . Leases During the first 2020, 2016 02, 842 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. We determine if a contract contains a lease at inception based on our right to control the use of an identified asset and our right to obtain substantially all of the economic benefits from the use of that identified asset. Our real estate lease terms range from one five Most of our leases do not not We adopted the standard utilizing the transition election to not 1 2 3 not not not one Adoption of the standard resulted in the recording of additional net lease-related assets and lease-related liabilities of $146,585 and $151,672, respectively, as of December 1, 2019. 3 820, Fair Value Measurement and Disclosure 3 not We have negotiated with a number of our landlords to obtain relief in the form of rent deferrals or abatements of rent currently past due as a result of the effects of COVID- 19 August 29, 2020, 2021 842 840: 19 April 2020, 19 not no not no three nine August 29, 2020, Supplemental balance sheet information related to leases as of August 29, 2020 Operating leases: Right of use assets $ 120,889 Lease liabilties, short-term 28,211 Lease liabilties, long-term 117,009 Finance leases: Right of use assets (1) $ 1,322 Lease liabilties, short-term (2) 249 Lease liabilties, long-term (3) 1,072 ( 1 Included in property & equipment, net in our condensed consolidated balance sheet. ( 2 Included in other current liabilites and accrued expenses in our condensed consolidated balance sheet. ( 3 Included in other long-term liabilites and accrued expenses in our condensed consolidated balance sheet. Our right-of-use assets under operating leases by segment as of August 29, 2020 Wholesale $ 8,028 Retail 95,815 Logistical services 17,046 Total right of use assets $ 120,889 The components of our lease cost for the three nine August 29, 2020 Quarter Ended Nine Months Ended August 29, 2020 August 31, 2020 Lease cost: Operating lease cost $ 8,441 $ 26,005 Financing lease cost: Amortization of right-of-use assets 46 103 Interest on lease liabilities 13 29 Short-term lease cost 423 1,221 Variable lease cost (net of abatements received) (624 ) (560 ) Sublease income (395 ) (1,183 ) Total lease cost $ 7,904 $ 25,615 Supplemental lease disclosures as of August 29, 2020 nine Operating Financing For the nine months ended August 29, 2020: Cash paid for amounts included in the measurements of lease liabilities $ 25,113 $ 124 Lease liabilities arising from new right-of-use assets 5,426 1,426 As of August 29, 2020: Weighted average remaining lease terms (years) 6.3 5.0 Weighted average discount rates 5.01 % 4.56 % Future payments under our leases and the present value of the obligations as of August 29, 2020 Operating Leases Financing Leases Remainder of fiscal 2020 $ 9,354 $ 95 Fiscal 2021 33,740 382 Fiscal 2022 30,431 382 Fiscal 2023 25,350 382 Fiscal 2024 18,462 311 Fiscal 2025 15,125 197 Thereafter 38,127 33 Total lease payments 170,589 1,782 Less: interest 25,369 461 Total lease obligations $ 145,220 $ 1,321 We sublease a small number of our leased locations to our licensees for operation as Bassett Home Furnishings (“BHF”) network stores. The terms of these leases generally match those of the lease we have with the lessor. Minimum future lease payments due to us under these subleases are as follows: Remainder of fiscal 2020 $ 379 Fiscal 2021 1,260 Fiscal 2022 1,070 Fiscal 2023 754 Fiscal 2024 648 Fiscal 2025 588 Thereafter 157 Total minimum future rental income $ 4,856 Lease Guarantees We also have guaranteed certain lease obligations of licensee operators. Lease guarantees range from one ten August 29, 2020 November 30, 2019, 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 August 29, 2020 November 30, 2019 not

Note 12 - Earnings (Loss) Per S

Note 12 - Earnings (Loss) Per Share	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Earnings Per Share [Text Block]	1 2 . Earnings (Loss) Per Share The following reconciles basic and diluted earnings (loss) per share: Net Income (Loss) Weighted Average Shares Net Income (Loss) Per Share For the quarter ended August 29, 2020: Basic earnings per share $ 2,178 9,955,382 $ 0.22 Add effect of dilutive securities: Options and restricted shares - 16,263 - Diluted earnings per share $ 2,178 9,971,645 $ 0.22 For the quarter ended August 31, 2019: Basic earnings per share $ 2,157 10,212,259 $ 0.21 Add effect of dilutive securities: Options and restricted shares - 28,276 - Diluted earnings per share $ 2,157 10,240,535 $ 0.21 For the nine months ended August 29, 2020: Basic loss per share $ (16,964 ) 9,979,861 $ (1.70 ) Add effect of dilutive securities: Options and restricted shares* - - - Diluted loss per share $ (16,964 ) 9,979,861 $ (1.70 ) For the nine months ended August 31, 2019: Basic earnings per share $ 3,210 10,368,891 $ 0.31 Add effect of dilutive securities: Options and restricted shares - 26,914 - Diluted earnings per share $ 3,210 10,395,805 $ 0.31 *Due to the net loss, the potentially dilutive securities would have been anti-dilutive and are therefore excluded. For the three nine August 29, 2020 August 31, 2019, Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Stock options - - 5,250 - Unvested shares 3,500 45,653 88,153 45,653 Total anti-dilutive securities 3,500 45,653 93,403 45,653

Note 13 - Segment Information

Note 13 - Segment Information	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	1 3 . Segment Information We have strategically aligned our business into three 280, Segment Reporting ● Wholesale. ● Retail – Company-owned s tores. ● Logistical services . third three nine August 29, 2020, three nine August 31, 2019, 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 Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Sales Revenue Wholesale $ 55,443 $ 62,690 $ 153,588 $ 198,602 Retail - Company-owned stores 48,144 66,539 147,161 198,736 Logistical services 17,848 18,899 54,422 60,743 Inter-company eliminations: Furniture and accessories (23,246 ) (30,860 ) (68,466 ) (95,789 ) Logistical services (6,630 ) (7,849 ) (19,225 ) (23,842 ) Consolidated $ 91,559 $ 109,419 $ 267,480 $ 338,450 Income (Loss) from Operations Wholesale $ 3,324 $ 3,044 $ (1,344 ) $ 10,399 Retail - Company-owned stores (1,585 ) (431 ) (12,004 ) (6,430 ) Logistical services 1,022 610 15 1,574 Inter-company elimination (14 ) 177 2,266 342 Early retirement program - - - (835 ) Asset impairment charges - - (12,184 ) - Goodwill impairment charge - - (1,971 ) - Litigation expense - - (1,050 ) - Consolidated $ 2,747 $ 3,400 $ (26,272 ) $ 5,050 Depreciation and Amortization Wholesale $ 747 $ 752 $ 2,338 $ 2,397 Retail - Company-owned stores 1,516 1,612 4,958 4,661 Logistical services 747 993 2,953 3,034 Consolidated $ 3,010 $ 3,357 $ 10,249 $ 10,092 Capital Expenditures Wholesale $ 286 $ 670 $ 979 $ 2,810 Retail - Company-owned stores 92 1,482 695 6,872 Logistical services 45 186 540 969 Consolidated $ 423 $ 2,338 $ 2,214 $ 10,651 As of As of Identifiable Assets August 29, 2020 November 30, 2019 Wholesale $ 156,464 $ 144,392 Retail - Company-owned stores 180,252 91,997 Logistical services 57,600 39,377 Consolidated $ 394,316 $ 275,766 Wholesale shipments by type Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Bassett Custom Upholstery $ 31,016 55.9 % $ 36,809 58.7 % $ 90,283 58.8 % $ 115,200 58.0 % Bassett Leather 5,804 10.5 % 4,480 7.1 % 13,559 8.8 % 14,714 7.4 % Bassett Custom Wood 9,582 17.3 % 11,757 18.8 % 26,504 17.3 % 33,958 17.1 % Bassett Casegoods 9,041 16.3 % 9,644 15.4 % 23,242 15.1 % 32,263 16.2 % Accessories (1) - 0.0 % - 0.0 % - 0.0 % 2,467 1.2 % Total $ 55,443 100.0 % $ 62,690 100.0 % $ 153,588 100.0 % $ 198,602 100.0 % ( 1 Beginning with the third 2019, no third third

Note 14 - Revenue Recognition

Note 14 - Revenue Recognition	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	14. We recognize revenue when we transfer promised goods or services to our customers in an amount that reflects the consideration we expect to receive in exchange for those goods or services. For our wholesale and retail segments, revenue is recognized when the risks and rewards of ownership and title to the product have transferred to the buyer. At wholesale, transfer occurs and revenue is recognized upon the shipment of goods to independent dealers and licensee-owned BHF stores. At retail, transfer occurs and revenue is recognized upon delivery of goods to the customer. All wholesale and retail revenues are recorded net of estimated returns and allowances based on historical patterns. We typically collect a significant portion of the purchase price from our retail customers as a deposit upon order, with the balance typically collected upon delivery. These customer deposits are carried on our balance sheet as a current liability until delivery is fulfilled and amounted to $35,721 and $25,341 as of August 29, 2020 November 30, 2019, November 30, 2019 nine August 29, 2020. 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 of the amount of time freight has been in transit as of the reporting date compared with our estimate of the total required time for the deliveries. The balances of assets recognized for shipping revenues earned but not August 29, 2020 November 30, 2019 not We exclude from revenue all amounts collected from customers for sales tax. We do not one See Note 13,

Note 15 - Changes to Stockholde

Note 15 - Changes to Stockholders' Equity	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	15. The following changes in our stockholders’ equity occurred during the three nine August 29, 2020 August 31, 2019: Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Common Stock: Beginning of period $ 49,977 $ 52,262 $ 50,581 $ 52,638 Issuance of common stock 80 58 198 339 Forfeited shares - - (35 ) Purchase and retirement of common stock (174 ) (1,742 ) (861 ) (2,399 ) End of period $ 49,883 $ 50,578 $ 49,883 $ 50,578 Common Shares Issued and Outstanding: Beginning of period 9,995,356 10,452,345 10,116,291 10,527,636 Issuance of common stock 16,064 11,734 39,572 67,935 Forfeited shares - - (7,000 ) - Purchase and retirement of common stock (34,907 ) (348,383 ) (172,350 ) (479,875 ) End of period 9,976,513 10,115,696 9,976,513 10,115,696 Additional Paid-in Capital: Beginning of period $ - $ - $ 195 $ - Issuance of common stock (21 ) 28 19 (69 ) Forfeited shares - - 35 - Purchase and retirement of common stock (99 ) (270 ) (563 ) (649 ) Stock based compensation 120 242 314 718 End of period $ - $ - $ - $ - Retained Earnings: Beginning of period $ 103,391 $ 137,127 $ 129,130 $ 140,009 Cumulative effect of a change in accounting principal - - (3,785 ) (21 ) Net income (loss) for the period 2,178 2,157 (16,964 ) 3,210 Purchase and retirement of common stock (27 ) (2,487 ) (332 ) (3,798 ) Cash dividends declared (799 ) (1,264 ) (3,306 ) (3,867 ) End of period $ 104,743 $ 135,533 $ 104,743 $ 135,533 Accumulated Other Comprehensive Loss: Beginning of period $ (1,187 ) $ (2,223 ) $ (1,236 ) $ (2,338 ) Amortization of pension costs, net of tax 25 58 74 173 End of period $ (1,162 ) $ (2,165 ) $ (1,162 ) $ (2,165 )

Note 16 - Recent Accounting Pro

Note 16 - Recent Accounting Pronouncements	9 Months Ended
	Aug. 29, 2020
Notes to Financial Statements
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	1 6 . Recent Accounting Pronouncements In June 2016, No. 2016 13, 326 2016 13” 2016 13 2016 13 December 15, 2019, 2016 13 2021 In August 2018, No. 2018 15, Accounting Standards Update No. 2018 15 – Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350 40 , 2018 15 not 2018 15. 2018 15 2021 In December 2019, No. 2019 12 740 2019 12 2019 12 2019 12 2022

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Aug. 29, 2020
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements Effective as of the beginning of fiscal 2020, No. 2016 02, 842 2016 02 2018 01, 2018 10, 2018 11 2018 20 11,
Impact of the COVID -19 Pandemic Upon Financial Condition and Results of Operations, Policy [Policy Text Block]	Impact of the COVID- 19 On March 11, 2020, 19” 19 In response to these measures and for the protection of our employees and customers, we temporarily closed our dedicated stores, our manufacturing locations and many of our warehouses for several weeks primarily during the second 2020. nine August 29, 2020. nine August 29, 2020 6 9 second 2020. third 2020 second June, third 2019. second second Whereas most state and local governments have eased restrictions on commercial retail activity, it is possible that a resurgence in COVID- 19 may 19

Note 4 - Accounts Receivable (T

Note 4 - Accounts Receivable (Tables)	9 Months Ended
	Aug. 29, 2020
Notes Tables
Schedule Of Accounts Receivable [Table Text Block]	August 29, 2020 November 30, 2019 Gross accounts receivable $ 20,502 $ 22,193 Allowance for doubtful accounts (1,403 ) (815 ) Accounts receivable, net $ 19,099 $ 21,378
Financing Receivable, Current, Allowance for Credit Loss [Table Text Block]	Balance at November 30, 2019 $ 815 Additions charged to expense 727 Write-offs against allowance (139 ) Balance at August 29, 2020 $ 1,403

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	9 Months Ended
	Aug. 29, 2020
Notes Tables
Schedule of Inventory, Current [Table Text Block]	August 29, 2020 November 30, 2019 Wholesale finished goods $ 25,493 $ 27,792 Work in process 531 733 Raw materials and supplies 14,255 17,293 Retail merchandise 31,774 31,534 Total inventories on first-in, first-out method 72,053 77,352 LIFO adjustment (8,896 ) (8,688 ) Reserve for excess and obsolete inventory (4,556 ) (2,362 ) Total Inventories $ 58,601 $ 66,302
Activity In Reserves For Excess Quantities And Obsolete Inventory By Segment [Table Text Block]	Wholesale Segment Retail Segment Total Balance at November 30, 2019 $ 2,054 $ 308 $ 2,362 Additions charged to expense 3,280 534 3,814 Write-offs (1,491 ) (129 ) (1,620 ) Balance at August 29, 2020 $ 3,843 $ 713 $ 4,556

Note 6 - Goodwill and Other I_2

Note 6 - Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Aug. 29, 2020
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	August 29, 2020 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization Customer relationships $ 3,550 $ (1,282 ) $ 2,268 Technology - customized applications 834 (665 ) 169 Total intangible assets subject to amortization $ 4,384 $ (1,947 ) 2,437 Intangibles not subject to amortization: Trade names 9,338 Goodwill 12,146 Total goodwill and other intangible assets $ 23,921 November 30, 2019 Gross Carrying Amount Accumulated Amortization Intangible Assets, Net Intangibles subject to amortization Customer relationships $ 3,550 $ (1,088 ) $ 2,462 Technology - customized applications 834 (575 ) 259 Total intangible assets subject to amortization $ 4,384 $ (1,663 ) 2,721 Intangibles not subject to amortization: Trade names 9,338 Goodwill 14,117 Total goodwill and other intangible assets $ 26,176
Schedule of Goodwill [Table Text Block]	Wholesale Retail Logistics Total Balance as of November 30, 2019 $ 9,188 $ - $ 4,929 $ 14,117 Goodwill impairment (1,971 ) - - (1,971 ) Balance as of August 29, 2020 $ 7,217 $ - $ 4,929 $ 12,146 Wholesale Retail Logistics Total Balance as of November 30, 2019 $ - $ 1,926 $ - $ 1,926 Balance as of August 29, 2020 $ 1,971 $ 1,926 $ - $ 3,897
Finite-lived Intangible Assets Amortization Expense [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Intangible asset amortization expense $ 95 $ 95 $ 284 $ 284
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	Remainder of fiscal 2020 $ 95 Fiscal 2021 379 Fiscal 2022 279 Fiscal 2023 259 Fiscal 2024 259 Fiscal 2025 259 Thereafter 907 Total $ 2,437

Note 8 - Post Employment Bene_2

Note 8 - Post Employment Benefit Obligations (Tables)	9 Months Ended
	Aug. 29, 2020
Notes Tables
Schedule of Pension Liability [Table Text Block]	August 29, 2020 November 30, 2019 Accrued compensation and benefits $ 655 $ 655 Post employment benefit obligations 9,444 9,435 Total pension liability $ 10,099 $ 10,090
Schedule of Net Benefit Costs [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Service cost $ 43 $ 47 $ 130 $ 141 Interest cost 67 110 201 331 Amortization of prior service costs 31 31 94 94 Amortization of loss 2 46 6 138 Net periodic pension cost $ 143 $ 234 $ 431 $ 704
Schedule of Deferred Compensation Liability [Table Text Block]	August 29, 2020 November 30, 2019 Accrued compensation and benefits $ 266 $ 266 Post employment benefit obligations 2,578 2,395 Total deferred compensation liability $ 2,844 $ 2,661
Recognized Deferred Compensation Expense [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Deferred compensation expense $ 190 $ 84 $ 483 $ 267

Note 11 - Leases (Tables)

Note 11 - Leases (Tables)	9 Months Ended
	Aug. 29, 2020
Notes Tables
Lessee, Supplemental Balance Sheet Information [Table Text Block]	Operating leases: Right of use assets $ 120,889 Lease liabilties, short-term 28,211 Lease liabilties, long-term 117,009 Finance leases: Right of use assets (1) $ 1,322 Lease liabilties, short-term (2) 249 Lease liabilties, long-term (3) 1,072 Wholesale $ 8,028 Retail 95,815 Logistical services 17,046 Total right of use assets $ 120,889
Lease, Cost [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2020 August 31, 2020 Lease cost: Operating lease cost $ 8,441 $ 26,005 Financing lease cost: Amortization of right-of-use assets 46 103 Interest on lease liabilities 13 29 Short-term lease cost 423 1,221 Variable lease cost (net of abatements received) (624 ) (560 ) Sublease income (395 ) (1,183 ) Total lease cost $ 7,904 $ 25,615
Supplemental Lease Disclosures [Table Text Block]	Operating Financing For the nine months ended August 29, 2020: Cash paid for amounts included in the measurements of lease liabilities $ 25,113 $ 124 Lease liabilities arising from new right-of-use assets 5,426 1,426 As of August 29, 2020: Weighted average remaining lease terms (years) 6.3 5.0 Weighted average discount rates 5.01 % 4.56 %
Lessee, Operating and Finance Lease, Liability, Maturity [Table Text Block]	Operating Leases Financing Leases Remainder of fiscal 2020 $ 9,354 $ 95 Fiscal 2021 33,740 382 Fiscal 2022 30,431 382 Fiscal 2023 25,350 382 Fiscal 2024 18,462 311 Fiscal 2025 15,125 197 Thereafter 38,127 33 Total lease payments 170,589 1,782 Less: interest 25,369 461 Total lease obligations $ 145,220 $ 1,321
Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity [Table Text Block]	Remainder of fiscal 2020 $ 379 Fiscal 2021 1,260 Fiscal 2022 1,070 Fiscal 2023 754 Fiscal 2024 648 Fiscal 2025 588 Thereafter 157 Total minimum future rental income $ 4,856

Note 12 - Earnings (Loss) Per_2

Note 12 - Earnings (Loss) Per Share (Tables)	9 Months Ended
	Aug. 29, 2020
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Net Income (Loss) Weighted Average Shares Net Income (Loss) Per Share For the quarter ended August 29, 2020: Basic earnings per share $ 2,178 9,955,382 $ 0.22 Add effect of dilutive securities: Options and restricted shares - 16,263 - Diluted earnings per share $ 2,178 9,971,645 $ 0.22 For the quarter ended August 31, 2019: Basic earnings per share $ 2,157 10,212,259 $ 0.21 Add effect of dilutive securities: Options and restricted shares - 28,276 - Diluted earnings per share $ 2,157 10,240,535 $ 0.21 For the nine months ended August 29, 2020: Basic loss per share $ (16,964 ) 9,979,861 $ (1.70 ) Add effect of dilutive securities: Options and restricted shares* - - - Diluted loss per share $ (16,964 ) 9,979,861 $ (1.70 ) For the nine months ended August 31, 2019: Basic earnings per share $ 3,210 10,368,891 $ 0.31 Add effect of dilutive securities: Options and restricted shares - 26,914 - Diluted earnings per share $ 3,210 10,395,805 $ 0.31
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Stock options - - 5,250 - Unvested shares 3,500 45,653 88,153 45,653 Total anti-dilutive securities 3,500 45,653 93,403 45,653

Note 13 - Segment Information (

Note 13 - Segment Information (Tables)	9 Months Ended
	Aug. 29, 2020
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Sales Revenue Wholesale $ 55,443 $ 62,690 $ 153,588 $ 198,602 Retail - Company-owned stores 48,144 66,539 147,161 198,736 Logistical services 17,848 18,899 54,422 60,743 Inter-company eliminations: Furniture and accessories (23,246 ) (30,860 ) (68,466 ) (95,789 ) Logistical services (6,630 ) (7,849 ) (19,225 ) (23,842 ) Consolidated $ 91,559 $ 109,419 $ 267,480 $ 338,450 Income (Loss) from Operations Wholesale $ 3,324 $ 3,044 $ (1,344 ) $ 10,399 Retail - Company-owned stores (1,585 ) (431 ) (12,004 ) (6,430 ) Logistical services 1,022 610 15 1,574 Inter-company elimination (14 ) 177 2,266 342 Early retirement program - - - (835 ) Asset impairment charges - - (12,184 ) - Goodwill impairment charge - - (1,971 ) - Litigation expense - - (1,050 ) - Consolidated $ 2,747 $ 3,400 $ (26,272 ) $ 5,050 Depreciation and Amortization Wholesale $ 747 $ 752 $ 2,338 $ 2,397 Retail - Company-owned stores 1,516 1,612 4,958 4,661 Logistical services 747 993 2,953 3,034 Consolidated $ 3,010 $ 3,357 $ 10,249 $ 10,092 Capital Expenditures Wholesale $ 286 $ 670 $ 979 $ 2,810 Retail - Company-owned stores 92 1,482 695 6,872 Logistical services 45 186 540 969 Consolidated $ 423 $ 2,338 $ 2,214 $ 10,651 As of As of Identifiable Assets August 29, 2020 November 30, 2019 Wholesale $ 156,464 $ 144,392 Retail - Company-owned stores 180,252 91,997 Logistical services 57,600 39,377 Consolidated $ 394,316 $ 275,766
Wholesale Revenue by Major Product Category [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Bassett Custom Upholstery $ 31,016 55.9 % $ 36,809 58.7 % $ 90,283 58.8 % $ 115,200 58.0 % Bassett Leather 5,804 10.5 % 4,480 7.1 % 13,559 8.8 % 14,714 7.4 % Bassett Custom Wood 9,582 17.3 % 11,757 18.8 % 26,504 17.3 % 33,958 17.1 % Bassett Casegoods 9,041 16.3 % 9,644 15.4 % 23,242 15.1 % 32,263 16.2 % Accessories (1) - 0.0 % - 0.0 % - 0.0 % 2,467 1.2 % Total $ 55,443 100.0 % $ 62,690 100.0 % $ 153,588 100.0 % $ 198,602 100.0 %

Note 15 - Changes to Stockhol_2

Note 15 - Changes to Stockholders' Equity (Tables)	9 Months Ended
	Aug. 29, 2020
Notes Tables
Schedule of Stockholders Equity [Table Text Block]	Quarter Ended Nine Months Ended August 29, 2020 August 31, 2019 August 29, 2020 August 31, 2019 Common Stock: Beginning of period $ 49,977 $ 52,262 $ 50,581 $ 52,638 Issuance of common stock 80 58 198 339 Forfeited shares - - (35 ) Purchase and retirement of common stock (174 ) (1,742 ) (861 ) (2,399 ) End of period $ 49,883 $ 50,578 $ 49,883 $ 50,578 Common Shares Issued and Outstanding: Beginning of period 9,995,356 10,452,345 10,116,291 10,527,636 Issuance of common stock 16,064 11,734 39,572 67,935 Forfeited shares - - (7,000 ) - Purchase and retirement of common stock (34,907 ) (348,383 ) (172,350 ) (479,875 ) End of period 9,976,513 10,115,696 9,976,513 10,115,696 Additional Paid-in Capital: Beginning of period $ - $ - $ 195 $ - Issuance of common stock (21 ) 28 19 (69 ) Forfeited shares - - 35 - Purchase and retirement of common stock (99 ) (270 ) (563 ) (649 ) Stock based compensation 120 242 314 718 End of period $ - $ - $ - $ - Retained Earnings: Beginning of period $ 103,391 $ 137,127 $ 129,130 $ 140,009 Cumulative effect of a change in accounting principal - - (3,785 ) (21 ) Net income (loss) for the period 2,178 2,157 (16,964 ) 3,210 Purchase and retirement of common stock (27 ) (2,487 ) (332 ) (3,798 ) Cash dividends declared (799 ) (1,264 ) (3,306 ) (3,867 ) End of period $ 104,743 $ 135,533 $ 104,743 $ 135,533 Accumulated Other Comprehensive Loss: Beginning of period $ (1,187 ) $ (2,223 ) $ (1,236 ) $ (2,338 ) Amortization of pension costs, net of tax 25 58 74 173 End of period $ (1,162 ) $ (2,165 ) $ (1,162 ) $ (2,165 )

Note 2 - Interim Financial Pr_2

Note 2 - Interim Financial Presentation (Details Textual)	3 Months Ended		9 Months Ended		12 Months Ended
	Aug. 29, 2020	Aug. 31, 2019	Aug. 29, 2020	Aug. 31, 2019	Nov. 30, 2019	Nov. 24, 2018
Effective Income Tax Rate Reconciliation, Percent, Total	36.80%	30.50%	(36.50%)	28.40%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent					21.00%	35.00%

Note 3 - Financial Instrument_2

Note 3 - Financial Instruments and Fair Value Measurements (Details Textual) - USD ($)	9 Months Ended
	Aug. 29, 2020	Nov. 30, 2019
Short-term Investments, Total	$ 17,661,000	$ 17,436,000
Certificates of Deposit, Original Terms, Weighted Average (Month)	8 months
Certificates of Deposit, Remaining Time to Maturity (Month)	5 months
Minimum [Member]
Interest Rate of Certificates of Deposit	0.10%
Maximum [Member]
Interest Rate of Certificates of Deposit	2.00%
Weighted Average [Member]
Interest Rate of Certificates of Deposit	0.31%
Certificates of Deposit [Member]
Short-term Investments, Total	$ 17,661	$ 17,436,000

Note 4 - Accounts Receivable -

Note 4 - Accounts Receivable - Accounts Receivable (Details) - USD ($) $ in Thousands	Aug. 29, 2020	Nov. 30, 2019
Gross accounts receivable	$ 20,502	$ 22,193
Allowance for doubtful accounts	(1,403)	(815)
Accounts receivable, net	$ 19,099	$ 21,378

Note 4 - Accounts Receivable _2

Note 4 - Accounts Receivable - Activity in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019
Balance at November 30, 2019	$ 815
Additions charged to expense	727	$ (5)
Write-offs against allowance	(139)
Balance at August 29, 2020	$ 1,403

Note 5 - Inventories - Inventor

Note 5 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Aug. 29, 2020	Nov. 30, 2019
Wholesale finished goods	$ 25,493	$ 27,792
Work in process	531	733
Raw materials and supplies	14,255	17,293
Retail merchandise	31,774	31,534
Total inventories on first-in, first-out method	72,053	77,352
LIFO adjustment	(8,896)	(8,688)
Reserve for excess and obsolete inventory	(4,556)	(2,362)
Total Inventories	$ 58,601	$ 66,302

Note 5 - Inventories - Activity

Note 5 - Inventories - Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment (Details) - USD ($) $ in Thousands	9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019
Balance	$ 2,362
Additions charged to expense	3,814	$ 1,753
Write-offs	(1,620)
Balance	4,556
Operating Segments [Member] | Wholesale Segment [Member]
Balance	2,054
Additions charged to expense	3,280
Write-offs	(1,491)
Balance	3,843
Operating Segments [Member] | Retail Segment [Member]
Balance	308
Additions charged to expense	534
Write-offs	(129)
Balance	$ 713

Note 6 - Goodwill and Other I_3

Note 6 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019	Aug. 29, 2020	Aug. 31, 2019
Goodwill, Impairment Loss	$ 0	$ 0	$ 1,971	$ 0

Note 6 - Goodwill and Other I_4

Note 6 - Goodwill and Other Intangible Assets - Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	Aug. 29, 2020	Nov. 30, 2019
Intangibles subject to amortization, Gross Carrying Amount	$ 4,384	$ 4,384
Intangibles subject to amortization, Accumulated Amortization	(1,947)	(1,663)
Intangibles subject to amortization, Intangible Assets, Net	2,437	2,721
Trade names	9,338	9,338
Goodwill	12,146	14,117
Total goodwill and other intangible assets	23,921	26,176
Customer Relationships [Member]
Intangibles subject to amortization, Gross Carrying Amount	3,550	3,550
Intangibles subject to amortization, Accumulated Amortization	(1,282)	(1,088)
Intangibles subject to amortization, Intangible Assets, Net	2,268	2,462
Technology-Based Intangible Assets [Member]
Intangibles subject to amortization, Gross Carrying Amount	834	834
Intangibles subject to amortization, Accumulated Amortization	(665)	(575)
Intangibles subject to amortization, Intangible Assets, Net	$ 169	$ 259

Note 6 - Goodwill and Other I_5

Note 6 - Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019	Aug. 29, 2020	Aug. 31, 2019	Nov. 30, 2019
Balance			$ 14,117
Goodwill impairment	$ 0	$ 0	(1,971)	$ 0
Balance	12,146		12,146
Goodwill, accumulated impairment loss	3,897		3,897		$ 1,926
Wholesale Segment [Member]
Balance			9,188
Goodwill impairment			(1,971)
Balance	7,217		7,217
Goodwill, accumulated impairment loss	1,971		1,971		0
Retail Segment [Member]
Balance			0
Goodwill impairment			0
Balance	0		0
Goodwill, accumulated impairment loss	1,926		1,926		1,926
Logistical Services [Member]
Balance			4,929
Goodwill impairment			0
Balance	4,929		4,929
Goodwill, accumulated impairment loss	$ 0		$ 0		$ 0

Note 6 - Goodwill and Other I_6

Note 6 - Goodwill and Other Intangible Assets - Amortization Expense With Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019	Aug. 29, 2020	Aug. 31, 2019
Intangible asset amortization expense	$ 95	$ 95	$ 284	$ 284

Note 6 - Goodwill and Other I_7

Note 6 - Goodwill and Other Intangible Assets - Estimated Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Aug. 29, 2020	Nov. 30, 2019
Remainder of fiscal 2020	$ 95
Fiscal 2021	379
Fiscal 2022	279
Fiscal 2023	259
Fiscal 2024	259
Fiscal 2025	259
Thereafter	907
Total	$ 2,437	$ 2,721

Note 7 - Bank Credit Facility (

Note 7 - Bank Credit Facility (Details Textual) - USD ($)	Jun. 15, 2020	Aug. 29, 2020	May 30, 2020
Bank One [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 50,000,000	$ 50,000,000	$ 25,000,000
Letters of Credit Outstanding, Amount		2,181
Line of Credit Facility, Remaining Borrowing Capacity		47,819
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Bank One [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.90%
Bank Two [Member]
Letters of Credit Outstanding, Amount		$ 325,000

Note 8 - Post Employment Bene_3

Note 8 - Post Employment Benefit Obligations (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	May 27, 2017	Aug. 29, 2020	Nov. 30, 2019
Unfunded Deferred Compensation Plan [Member]
Deferred Compensation Arrangement with Individual, Recorded Liability		$ 1,720	$ 1,767
Deferred Compensation, Management Savings Plan [Member]
Deferred Compensation Arrangement with Individual, Recorded Liability		1,124	894
Management Savings Plan [member]
Defined Benefit Plan, Fixed Future Benefit Award	$ 2,000
Defined Benefit Plan, Fixed Future Benefit Award, Individual Participants	$ 400
Deferred Compensation Arrangement with Individual, Recorded Liability		1,393	1,311
Supplemental Employee Retirement Plan [Member]
Liability, Other Postretirement Defined Benefit Plan		$ 8,706	$ 8,779

Note 8 - Post Employment Bene_4

Note 8 - Post Employment Benefit Obligations - Pension Liability (Details) - Pension Plans Defined Benefit and Supplemental Employee Retirement Plan [Member] - USD ($) $ in Thousands	Aug. 29, 2020	Nov. 30, 2019
Combined pension liability	$ 10,099	$ 10,090
Accrued Compensation and Benefits [Member]
Combined pension liability	655	655
Post Employment Benefit Obligations [Member]
Combined pension liability	$ 9,444	$ 9,435

Note 8 - Post Employment Bene_5

Note 8 - Post Employment Benefit Obligations - Components of Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019	Aug. 29, 2020	Aug. 31, 2019
Service cost	$ 43	$ 47	$ 130	$ 141
Interest cost	67	110	201	331
Amortization of prior service costs	31	31	94	94
Amortization of loss	2	46	6	138
Net periodic pension cost	$ 143	$ 234	$ 431	$ 704

Note 8 - Post Employment Bene_6

Note 8 - Post Employment Benefit Obligations - Deferred Compensation Liability (Details) - Deferred Compensation Plans [Member] - USD ($) $ in Thousands	Aug. 29, 2020	Nov. 30, 2019
Liability for all deferred compensation arrangements	$ 2,844	$ 2,661
Accrued Compensation and Benefits [Member]
Liability for all deferred compensation arrangements	266	266
Post Employment Benefit Obligations [Member]
Liability for all deferred compensation arrangements	$ 2,578	$ 2,395

Note 8 - Post Employment Bene_7

Note 8 - Post Employment Benefit Obligations - Recognized Deferred Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019	Aug. 29, 2020	Aug. 31, 2019
Deferred compensation expense	$ 190	$ 84	$ 483	$ 267

Note 9 - Other Gains and Loss_2

Note 9 - Other Gains and Losses (Details Textual) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019	Mar. 02, 2019	Aug. 29, 2020	Aug. 31, 2019	Nov. 30, 2019
Legal Fees	$ 0	$ 0		$ 1,050	$ 0
Estimated Litigation Liability	1,750			1,750
Gain (Loss) from Company Owned Life Insurance	914			914	629
Early Retirement Program, Benefits Payment Period (Year)			1 year
Early Retirement Program Expense	0	$ 0		0	$ 835
Liability, Other Retirement Benefits	$ 9			9
Other Current Liabilities [Member]
Liability, Other Retirement Benefits						$ 374
Underperforming Retail Stores [Member]
Operating Lease, Impairment Loss				6,239
Underperforming Retail Stores [Member]
Asset Impairment Charges, Total				11,114
Closed Custom Upholstery Manufacturing Facility in Grand Prairie, Texas [Member]
Asset Impairment Charges, Total				$ 1,070

Note 11 - Leases (Details Textu

Note 11 - Leases (Details Textual) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Aug. 29, 2020	Aug. 29, 2020	Dec. 01, 2019	Nov. 30, 2019
Retained Earnings (Accumulated Deficit), Ending Balance	$ 104,743	$ 104,743		$ 129,130
Past Due Rents Subject to Negotiation with Lessors	2,769	2,769
Rent Abatement	657	657
Lease Obligations of Licensee Operators [Member]
Loss Contingency, Estimate of Possible Loss	$ 1,802	$ 1,802		$ 1,776
Accounting Standards Update 2016-02 [Member]
Lease, Right-of-Use Asset, Net			$ 146,585
Lease, Liability, Net			151,672
Deferred Income Tax Liabilities, Net, Total			1,302
Retained Earnings (Accumulated Deficit), Ending Balance			$ 3,785
Minimum [Member]
Lease Guarantees Term (Year)		1 year
Minimum [Member] | Real Estate Lease [Member]
Lessee, Operating Lease, Term of Contract (Year)	1 year	1 year
Lessee, Operating Lease, Renewal Term (Year)	5 years	5 years
Maximum [Member]
Lease Guarantees Term (Year)		10 years
Maximum [Member] | Real Estate Lease [Member]
Lessee, Operating Lease, Term of Contract (Year)	15 years	15 years
Lessee, Operating Lease, Renewal Term (Year)	15 years	15 years

Note 11 - Leases - Supplemental

Note 11 - Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands		Aug. 29, 2020	Nov. 30, 2019
Right of use assets		$ 120,889	$ 0
Lease liabilties, short-term		28,211	0
Lease liabilties, long-term		117,009	$ 0
Right of use assets (1)	[1]	1,322
Lease liabilties, short-term (2)	[2]	249
Lease liabilties, long-term (3)	[3]	1,072
Wholesale Segment [Member]
Right of use assets		8,028
Retail Segment [Member]
Right of use assets		95,815
Logistical Services [Member]
Right of use assets		$ 17,046
[1]	Included in property & equipment, net in our condensed consolidated balance sheet.
[2]	Included in other current liabilites and accrued expenses in our condensed consolidated balance sheet.
[3]	Included in other long-term liabilites and accrued expenses in our condensed consolidated balance sheet.

Note 11 - Leases - Lease Cost (

Note 11 - Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Aug. 29, 2020	Aug. 29, 2020
Operating lease cost	$ 8,441	$ 26,005
Amortization of right-of-use assets	46	103
Interest on lease liabilities	13	29
Short-term lease cost	423	1,221
Variable lease cost (net of abatements received)	(624)	(560)
Sublease income	(395)	(1,183)
Total lease cost	$ 7,904	$ 25,615

Note 11 - Leases - Supplement_2

Note 11 - Leases - Supplemental Lease Disclosures (Details) $ in Thousands	9 Months Ended
	Aug. 29, 2020USD ($)
Cash paid for amounts included in the measurements of lease liabilities, operating	$ 25,113
Cash paid for amounts included in the measurements of lease liabilities, financing	124
Lease liabilities arising from new right-of-use assets, operating	5,426
Lease liabilities arising from new right-of-use assets, financing	$ 1,426
Weighted average remaining lease terms (years), operating (Year)	6 years 3 months 18 days
Weighted average remaining lease terms (years), financing (Year)	5 years
Weighted average discount rates, operating	5.01%
Weighted average discount rates, financing	4.56%

Note 11 - Leases - Lease Maturi

Note 11 - Leases - Lease Maturities (Details) $ in Thousands	Aug. 29, 2020USD ($)
Remainder of fiscal 2020, operating lease	$ 9,354
Remainder of fiscal 2020, finance lease	95
Fiscal 2021, operating lease	33,740
Fiscal 2021, finance lease	382
Fiscal 2022, operating lease	30,431
Fiscal 2022, finance lease	382
Fiscal 2023, operating lease	25,350
Fiscal 2023, finance lease	382
Fiscal 2024, operating lease	18,462
Fiscal 2024, finance lease	311
Fiscal 2025, operating lease	15,125
Fiscal 2025, finance lease	197
Thereafter, operating lease	38,127
Thereafter, finance lease	33
Total lease payments, operating lease	170,589
Total lease payments, finance lease	1,782
Less: interest, operating lease	25,369
Less: interest, finance lease	461
Total operating lease obligations	145,220
Total finance lease obligations	$ 1,321

Note 11 - Leases - Minimum Futu

Note 11 - Leases - Minimum Future Rental Income (Details) $ in Thousands	Aug. 29, 2020USD ($)
Remainder of fiscal 2020	$ 379
Fiscal 2021	1,260
Fiscal 2022	1,070
Fiscal 2023	754
Fiscal 2024	648
Fiscal 2025	588
Thereafter	157
Total minimum future rental income	$ 4,856

Note 12 - Earnings (Loss) Per_3

Note 12 - Earnings (Loss) Per Share - Reconciliation of Basic and Diluted Loss Per Share (Details) - USD ($)	3 Months Ended			9 Months Ended
	Aug. 29, 2020		Aug. 31, 2019	Aug. 29, 2020		Aug. 31, 2019
Basic earnings per share, net income	$ 2,178,000		$ 2,157,000	$ (16,964,000)		$ 3,210
Basic earnings per share, weighted average shares (in shares)	9,955,382		10,212,259	9,979,861		10,368,891
Basic earnings (loss) per share (in dollars per share)	$ 0.22		$ 0.21	$ (1.70)		$ 0.31
Options and restricted shares, net income	$ 0	[1]	$ 0	$ 0	[1]	$ 0
Options and restricted shares, weighted average shares (in shares)	16,263	[1]	28,276	0	[1]	26,914
Diluted earnings per share, net income	$ 2,178,000		$ 2,157,000	$ (16,964,000)		$ 3,210
Diluted earnings per share, weighted average shares (in shares)	9,971,645		10,240,535	9,979,861		10,395,805
Diluted earnings (loss) per share (in dollars per share)	$ 0.22		$ 0.21	$ (1.70)		$ 0.31
[1]	Due to the net loss, the potentially dilutive securities would have been anti-dilutive and are therefore excluded.

Note 12 - Earnings (Loss) Per_4

Note 12 - Earnings (Loss) Per Share - Antidilutive Securities (Details) - shares	3 Months Ended		9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019	Aug. 29, 2020	Aug. 31, 2019
Antidilutive securities (in shares)	3,500	45,653	93,403	45,653
Share-based Payment Arrangement, Option [Member]
Antidilutive securities (in shares)	0	0	5,250	0
Unvested Shares [Member]
Antidilutive securities (in shares)	3,500	45,653	88,153	45,653

Note 13 - Segment Information_2

Note 13 - Segment Information (Details Textual) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2020USD ($)	Aug. 31, 2019USD ($)	Aug. 29, 2020USD ($)	Aug. 31, 2019USD ($)
Number of Reportable Segments			3
SGA Expenses Excluding New Store Pre-opening Costs	$ 50,394	$ 63,519	$ 165,407	$ 197,495
Zenith Freight Lines [Member]
SGA Expenses Excluding New Store Pre-opening Costs	$ 16,826	$ 18,289	$ 54,407	$ 59,169

Note 13 - Segment Information -

Note 13 - Segment Information - Segment Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019	Aug. 29, 2020	Aug. 31, 2019	Nov. 30, 2019
Sales revenues	$ 91,559	$ 109,419	$ 267,480	$ 338,450
Income (loss) from Operations	2,747	3,400	(26,272)	5,050
Early retirement program	0	0	0	(835)
Asset impairment charges	0	0	(12,184)	0
Goodwill impairment	0	0	(1,971)	0
Litigation expense	0	0	(1,050)	0
Depreciation and amortization	3,010	3,357	10,249	10,092
Capital expenditures	423	2,338	2,214	10,651
Identifiable Assets	394,316		394,316		$ 275,766
Wholesale Segment [Member]
Sales revenues	55,443	62,690	153,588	198,602
Goodwill impairment			(1,971)
Retail Segment [Member]
Goodwill impairment			0
Logistical Services [Member]
Goodwill impairment			0
Operating Segments [Member] | Wholesale Segment [Member]
Sales revenues	55,443	62,690	153,588	198,602
Income (loss) from Operations	3,324	3,044	(1,344)	10,399
Depreciation and amortization	747	752	2,338	2,397
Capital expenditures	286	670	979	2,810
Identifiable Assets	156,464		156,464		144,392
Operating Segments [Member] | Retail Segment [Member]
Sales revenues	48,144	66,539	147,161	198,736
Income (loss) from Operations	(1,585)	(431)	(12,004)	(6,430)
Depreciation and amortization	1,516	1,612	4,958	4,661
Capital expenditures	92	1,482	695	6,872
Identifiable Assets	180,252		180,252		91,997
Operating Segments [Member] | Logistical Services [Member]
Sales revenues	17,848	18,899	54,422	60,743
Income (loss) from Operations	1,022	610	15	1,574
Depreciation and amortization	747	993	2,953	3,034
Capital expenditures	45	186	540	969
Identifiable Assets	57,600		57,600		$ 39,377
Intersegment Eliminations [Member]
Income (loss) from Operations	(14)	177	2,266	342
Intersegment Eliminations [Member] | Logistical Services [Member]
Sales revenues	(6,630)	(7,849)	(19,225)	(23,842)
Intersegment Eliminations [Member] | Furniture and Accessories [Member]
Sales revenues	$ (23,246)	$ (30,860)	$ (68,466)	$ (95,789)

Note 13 - Segment Information_3

Note 13 - Segment Information - Wholesale Shipments by Type (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Aug. 29, 2020	Aug. 31, 2019	Aug. 29, 2020	Aug. 31, 2019
Sales revenue		$ 91,559	$ 109,419	$ 267,480	$ 338,450
Wholesale Segment [Member]
Sales revenue		$ 55,443	$ 62,690	$ 153,588	$ 198,602
Sales, revenue, percent		100.00%	100.00%	100.00%	100.00%
Wholesale Segment [Member] | Upholstery [Member]
Sales revenue		$ 31,016	$ 36,809	$ 90,283	$ 115,200
Sales, revenue, percent		55.90%	58.70%	58.80%	58.00%
Wholesale Segment [Member] | Bassett Leather [Member]
Sales revenue		$ 5,804	$ 4,480	$ 13,559	$ 14,714
Sales, revenue, percent		10.50%	7.10%	8.80%	7.40%
Wholesale Segment [Member] | Bassett Custom Wood [Member]
Sales revenue		$ 9,582	$ 11,757	$ 26,504	$ 33,958
Sales, revenue, percent		17.30%	18.80%	17.30%	17.10%
Wholesale Segment [Member] | Bassett Casegoods [Member]
Sales revenue		$ 9,041	$ 9,644	$ 23,242	$ 32,263
Sales, revenue, percent		16.30%	15.40%	15.10%	16.20%
Wholesale Segment [Member] | Accessories [Member]
Sales revenue	[1]	$ 0	$ 0	$ 0	$ 2,467
Sales, revenue, percent	[1]	0.00%	0.00%	0.00%	1.20%
[1]	Beginning with the third quarter of fiscal 2019, our wholesale segment no longer purchases accessory items for resale to our retail segment or to third party customers such as licensees or independent furniture retailers. Our retail segment and third-party customers now source their accessory items directly from the accessory vendors.

Note 14 - Revenue Recognition (

Note 14 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Aug. 29, 2020	Nov. 30, 2019
Contract with Customer, Liability, Total	$ 35,721	$ 25,341
Maximum [Member]
Contract with Customer, Timing of Payment (Year)	1 year

Note 15 - Changes to Stockhol_3

Note 15 - Changes to Stockholders' Equity - Changes Occurred in Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Aug. 29, 2020	Aug. 31, 2019	Aug. 29, 2020	Aug. 31, 2019
Balance			$ 178,670
Balance	$ 153,464		153,464
Net income (loss) for the period	2,178	$ 2,157	(16,964)	$ 3,210
Common Stock [Member]
Balance	49,977	52,262	50,581	52,638
Issuance of common stock	80	58	198	339
Forfeited shares	0	0	(35)
Purchase and retirement of common stock	(174)	(1,742)	(861)	(2,399)
Balance	$ 49,883	$ 50,578	$ 49,883	$ 50,578
Balance, shares (in shares)	9,995,356	10,452,345	10,116,291	10,527,636
Issuance of common stock, shares (in shares)	16,064	11,734	39,572	67,935
Forfeited shares (in shares)	0	0	(7,000)	0
Purchase and retirement of common stock, shares (in shares)	(34,907)	(348,383)	(172,350)	(479,875)
Balance, shares (in shares)	9,976,513	10,115,696	9,976,513	10,115,696
Paid in Capital [Member]
Balance	$ 0	$ 0	$ 195	$ 0
Issuance of common stock	(21)	28	19	(69)
Forfeited shares	0	0	35	0
Purchase and retirement of common stock	(99)	(270)	(563)	(649)
Balance	0	0	0	0
Stock based compensation	120	242	314	718
Retained Earnings [Member]
Balance	103,391	137,127	129,130	140,009
Purchase and retirement of common stock	(27)	(2,487)	(332)	(3,798)
Balance	104,743	135,533	104,743	135,533
Cumulative effect of a change in accounting principal	0	0	(3,785)	(21)
Net income (loss) for the period	2,178	2,157	(16,964)	3,210
Cash dividends declared	(799)	(1,264)	(3,306)	(3,867)
AOCI Attributable to Parent [Member]
Balance	(1,187)	(2,223)	(1,236)	(2,338)
Balance	(1,162)	(2,165)	(1,162)	(2,165)
Amortization of pension costs, net of tax	$ 25	$ 58	$ 74	$ 173