Home furnishings retailer Bassett Furniture Industries Inc (BSET.O) posted a smaller quarterly income but saw sales rise, and said it is negotiating the sale of its interest in International Home Furnishings Center (IHFC), sending its shares up as much as 24 percent. Shares of the company were up $1.04 at $5.59 on Thursday morning, making them the third highest gainer on Nasdaq. The Bassett, Virginia-based company saw fourth-quarter sales rise to $66 million from $59.5 million a year ago, driven by a rise in wholesale shipments as well as company owned stores. [ID:nASA01G50]
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