BASSETT, Va., June 26, 2012 -- Bassett Furniture Industries, Inc. (Nasdaq:BSET) announced that it has been added to the U.S. broad-market Russell 3000® and small-cap Russell 2000® Indices. The Company joined the indices at the close of market on Friday, June 22, 2012, when Russell Investments reconstituted its U.S. and global equity indices.
"Being added to the Russell 2000 and Russell 3000 Indices creates an opportunity to increase our overall visibility among key institutional investors," said Robert H. Spilman Jr., president and chief executive officer of Bassett. "The Russell indices are widely known broad-market indices and Bassett's inclusion in them is a result of a more than 25% increase in its market capitalization since the end of our fiscal year."
Russell determines membership for its equity indices primarily by objective, market-capitalization rankings and style attributes. Russell indices are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies.
Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000 Index as well as the appropriate growth and value style indices. The Russell 3000 also serves as the U.S. component to the Russell Global Index.
About Bassett Furniture Industries, Inc.
Bassett Furniture Industries, Inc. (Nasdaq:BSET) is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With 87 company- and licensee-owned stores, Bassett has leveraged its strong brand name in furniture into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for buying furniture and accessories. The most significant growth opportunity for Bassett continues to be the Company's dedicated retail store program. Bassett's retail strategy includes affordable custom-built furniture that is ready for delivery in the home within 30 days. The stores also feature the latest on-trend furniture styles, more than 750 upholstery fabrics, free in-home design visits, and coordinated decorating accessories. For more information, visit the Company's website at bassettfurniture.com. (BSET-E)
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