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    Michael McCormack • Water Tower Research LLC

    Michael McCormack is the Managing Director of Investor Relations at Water Tower Research LLC, leveraging extensive experience in capital markets to enhance investor engagement for the firm's clients. As Managing Director, he plays a key role in shaping research-driven communications and investor strategies, working with companies across diverse sectors. McCormack joined Water Tower Research in December 2024, following a distinguished career in finance; however, specific details about prior firms and covered companies are not publicly disclosed. His professional background is complemented by in-depth market expertise, although no formal securities licenses or performance metrics are available.

    Michael McCormack's questions to Bassett Furniture Industries Inc (BSET) leadership

    Michael McCormack's questions to Bassett Furniture Industries Inc (BSET) leadership • Q4 2024

    Question

    Michael McCormack asked for more detail on the expected moderation in gross margins going forward and inquired about any business impact from recent natural disasters like hurricanes and wildfires.

    Answer

    Executive John Daniel clarified that gross margins are expected to moderate slightly from record highs due to more aggressive retail pricing and efforts to move clearance inventory. CEO Rob Spilman added that this is by design to set expectations and that they do not anticipate a drastic decline. Regarding natural disasters, Spilman confirmed the September hurricane in North Carolina caused a few days of operational shutdowns and negatively impacted their strong dealer base in the region. The California wildfires led to a temporary shutdown of one store but did not cause significant operational upheaval.

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