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Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Nov. 29, 2014	Jan. 09, 2015	May 31, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	BASSETT FURNITURE INDUSTRIES INC
Document Type	10-K
Current Fiscal Year End Date	--11-29
Entity Common Stock, Shares Outstanding		10,500,695
Entity Public Float			$ 144,819,569
Amendment Flag	false
Entity Central Index Key	0000010329
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Nov. 29, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 29, 2014	Nov. 30, 2013
Current assets
Cash and cash equivalents	$ 26,673	$ 12,733
Short-term investments	23,125	28,125
Accounts receivable, net of allowance for doubtful accounts of $1,249 and $1,607 as of November 29, 2014 and November 29, 2013, respectively	15,228	16,080
Inventories	57,272	53,069
Deferred income taxes, net	5,268	4,418
Other current assets	7,796	11,949
Total current assets	135,362	126,374
Property and equipment, net	74,812	64,271
Other long-term assets
Retail real estate	6,302	10,435
Deferred income taxes, net	9,701	10,734
Other	14,569	14,035
Total other long-term assets	30,572	35,204
Total assets	240,746	225,849
Current liabilities
Accounts payable	22,251	19,892
Accrued compensation and benefits	8,931	6,503
Customer deposits	22,202	16,214
Dividends payable	2,102	2,172
Other accrued liabilities	11,287	6,660
Total current liabilities	66,773	51,441
Long-term liabilities
Post employment benefit obligations	11,498	11,146
Real estate notes payable	1,902	2,467
Other long-term liabilities	3,741	3,386
Total long-term liabilities	17,141	16,999
Commitments and Contingencies
Stockholders’ equity
Common stock, $5 par value; 50,000,000 shares authorized; issued and outstanding 10,493,393 at November 29, 2014 and 10,859,318 at November 30, 2013	52,467	54,297
Retained earnings	106,339	104,526
Accumulated other comprehensive loss	(1,974)	(1,414)
Total stockholders' equity	156,832	157,409
Total liabilities and stockholders’ equity	$ 240,746	$ 225,849

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Nov. 29, 2014	Nov. 30, 2013
Accounts receivable allowance for doubtful accounts (in Dollars)	$ 1,249	$ 1,607
Common stock, par value (in Dollars per share)	$ 5	$ 5
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	10,493,393	10,859,318
Common stock, shares outstanding	10,493,393	10,859,318

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Net sales	$ 340,738	$ 321,286	$ 269,672
Cost of sales	158,317	155,292	128,350
Gross profit	182,421	165,994	141,322
Selling, general and administrative expenses excluding new store pre-opening costs	166,073	155,318	134,801
New store pre-opening costs	1,217	671	371
Restructuring and impairment charges			711
Lease exit costs			359
Income from operations	15,131	10,005	5,080
Income from Continued Dumping & Subsidy Offset Act			9,010
Other than temporary impairment of investments			(806)
Income from unconsolidated affiliated company	661	770	347
Interest expense	(188)	(255)	(295)
Retail real estate impairment charges		(416)
Other loss, net	(997)	(1,917)	(1,322)
Income before income taxes	14,607	8,187	12,014
Income tax expense (benefit)	5,308	3,091	(14,699)
Net income	$ 9,299	$ 5,096	$ 26,713
Net income per share
Basic income per share (in Dollars per share)	$ 0.88	$ 0.48	$ 2.43
Diluted income per share (in Dollars per share)	0.87	0.47	2.41
Dividends per share
Regular dividends (in Dollars per share)	0.28	0.22	0.20
Special dividend (in Dollars per share)	$ 0.20	$ 0.20	$ 1.25

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Net income	$ 9,299	$ 5,096	$ 26,713
Other comprehensive loss:
Actuarial adjustment to supplemental executive retirement defined benefit plan (SERP)	(918)	(310)	(656)
Income taxes related to SERP	358	119	277
Net change in unrealized holding gains			(211)
Income taxes related to unrealized holding gains			(25)
Other comprehensive loss, net of tax	(560)	(191)	(615)
Total comprehensive income	$ 8,739	$ 4,905	$ 26,098

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Operating activities:
Net income	$ 9,299	$ 5,096	$ 26,713
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	7,316	6,198	5,473
Equity in undistributed income of investments and unconsolidated affiliated companies	(661)	(770)	(347)
Provision for restructuring and asset impairment charges			711
Lease exit costs			359
Other than temporary impairment of investments			806
Tenant improvement allowances received from lessors	3,060
Collateral deposited with insurance carrier	(1,150)
Impairment and lease exit charges on retail real estate		416
Deferred income taxes	544	2,282	(15,822)
Other, net	264	677	977
Changes in operating assets and liabilities
Accounts receivable	775	(686)	(2,967)
Inventories	(4,203)	4,847	(11,307)
Other current and long-term assets	1,548	(4,819)	(276)
Customer deposits	5,912	3,961	3,015
Accounts payable and accrued liabilities	7,257	(6,562)	621
Net cash provided by operating activities	29,961	10,640	7,956
Investing activities:
Purchases of property and equipment	(17,980)	(14,302)	(9,000)
Proceeds from sales of property and equipment	5,157	958	19
Acquisition of retail licensee stores			(549)
Proceeds from sale of affiliate	2,348	2,348	1,410
Proceeds from maturities and sales of investments	5,000		4,854
Purchases of investments		(28,125)	(1,781)
Cash received on notes receivable and other	320	89	1,240
Net cash used in investing activities	(5,155)	(39,032)	(3,807)
Financing activities:
Repayments of real estate notes payable	(528)	(549)	(570)
Issuance of common stock	608	706	858
Repurchases of common stock	(5,602)	(1,750)	(7,015)
Taxes paid related to net share settlement of equity awards	(489)	(226)	(16)
Excess tax benefits from stock-based compensation	300	313
Cash dividends	(5,155)	(2,935)	(21,441)
Net cash used in financing activities	(10,866)	(4,441)	(28,184)
Change in cash and cash equivalents	13,940	(32,833)	(24,035)
Cash and cash equivalents - beginning of year	12,733	45,566	69,601
Cash and cash equivalents - end of year	$ 26,673	$ 12,733	$ 45,566

Consolidated Statements of Stockholders’ Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at Nov. 26, 2011	$ 56,712		$ 96,331	$ (608)	$ 152,435
Balance (in Shares) at Nov. 26, 2011	11,342,332
Comprehensive income
Net income			26,713		26,713
Actuarial adjustment to SERP, net of tax				(379)	(379)
Net change in unrealized holding gains, net of tax				(236)	(236)
Regular dividends			(2,214)		(2,214)
Special dividend			(13,706)		(13,706)
Issuance of common stock	$ 694	$ 352			1,046
Issuance of common stock (in Shares)	138,903
Purchase and retirement of common stock	$ (3,222)	(988)	(2,805)		(7,015)
Purchase and retirement of common stock (in Shares)	(644,395)
Stock-based compensation		636			636
Balance at Nov. 24, 2012	$ 54,184		104,319	(1,223)	157,280
Balance (in Shares) at Nov. 24, 2012	10,836,840
Comprehensive income
Net income			5,096		5,096
Actuarial adjustment to SERP, net of tax				(191)	(191)
Regular dividends			(2,393)		(2,393)
Special dividend			(2,172)		(2,172)
Issuance of common stock	$ 801	(104)			697
Issuance of common stock (in Shares)	160,128
Purchase and retirement of common stock	$ (688)	(937)	(324)		(1,949)
Purchase and retirement of common stock (in Shares)	(137,650)
Stock-based compensation		728			728
Excess tax benefits from stock-based compensation		313			313
Balance at Nov. 30, 2013	$ 54,297		104,526	(1,414)	$ 157,409
Balance (in Shares) at Nov. 30, 2013	10,859,318				10,859,318
Comprehensive income
Net income			9,299		$ 9,299
Actuarial adjustment to SERP, net of tax				(560)	(560)
Regular dividends			(2,983)		(2,983)
Special dividend			(2,102)		(2,102)
Issuance of common stock	$ 348	260			608
Issuance of common stock (in Shares)	69,619
Purchase and retirement of common stock	$ (2,178)	(1,511)	(2,401)		(6,090)
Purchase and retirement of common stock (in Shares)	(435,544)
Stock-based compensation		951			951
Excess tax benefits from stock-based compensation		$ 300			300
Balance at Nov. 29, 2014	$ 52,467		$ 106,339	$ (1,974)	$ 156,832
Balance (in Shares) at Nov. 29, 2014	10,493,393				10,493,393

Consolidated Statements of Stockholders’ Equity (Parentheticals) - $ / shares	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Regular dividends per share	$ 0.28	$ 0.22	$ 0.20
Special dividend per share	$ 0.20	$ 0.20	$ 1.25

Note 1 - Description of Business

12 Months Ended

Nov. 29, 2014

Disclosure Text Block [Abstract]

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1.	Description of Business

Bassett Furniture Industries, Incorporated (together with its consolidated subsidiaries, “Bassett”, “we”, “our”, the “Company”) based in Bassett, Va., is a leading manufacturer, marketer and retailer of branded home furnishings. Bassett’s full range of furniture products and accessories, designed to provide quality, style and value, are sold through an exclusive nation-wide network of 94 retail stores known as Bassett Home Furnishings (referred to as “BHF”). Of the 94 stores, the Company owns and operates 60 stores (“Company-owned retail stores”) with the other 34 being independently owned (“licensee operated”). We also distribute our products through other multi-line furniture stores, many of which feature Bassett galleries or design centers, specialty stores and mass merchants.

The Company sourced approximately 42% of its wholesale products from various countries, with the remaining volume produced at its two domestic manufacturing facilities.

Note 2 - Significant Accounting Policies

12 Months Ended

Nov. 29, 2014

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

2.	Significant Accounting Polcies

Basis of Presentation and Principles of Consolidation

The Company’s fiscal year ends on the last Saturday in November, which periodically results in a 53-week year. Fiscal 2013 contained 53 weeks, whereas fiscal 2014 and 2012 each contained 52 weeks. The Consolidated Financial Statements include the accounts of Bassett Furniture Industries, Incorporated and our majority-owned subsidiaries in which we have a controlling interest. All significant intercompany balances and transactions are eliminated in consolidation. The financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). Unless otherwise indicated, references in the Consolidated Financial Statements to fiscal 2014, 2013 and 2012 are to Bassett's fiscal year ended November 29, 2014, November 30, 2013 and November 24, 2012, respectively. References to the “ASC” included hereinafter refer to the Accounting Standards Codification established by the Financial Accounting Standards Board as the source of authoritative GAAP.

For comparative purposes, certain amounts in the 2013 and 2012 financial statements have been reclassified to conform to the 2014 presentation.

The equity method of accounting is used for our investment in an affiliated company in which we exercise significant influence but do not maintain a controlling interest. Consolidated net income includes our proportionate share of the net income or net loss of this company.

We analyzed our licensees under the requirements for variable interest entities (“VIEs”). All of these licensees operate as BHF stores and are furniture retailers. We sell furniture to these licensees, and in some cases have extended credit beyond normal terms, made lease guarantees, guaranteed loans, or loaned directly to the licensees. We have recorded reserves for potential exposures related to these licensees. See Note 17 for disclosure of leases and lease guarantees. Based on financial projections and best available information, all licensees have sufficient equity to carry out their principal operating activities without subordinated financial support. Furthermore, we believe that the power to direct the activities that most significantly impact the licensees’ operating performance continues to lie with the ownership of the licensee dealers. Our rights to assume control over or otherwise influence the licensees’ significant activities only exist pursuant to our license and security agreements and are in the nature of protective rights as contemplated under ASC Topic 810. We completed our assessment for other potential VIEs, and concluded that there were none. We will continue to reassess the status of potential VIEs including when facts and circumstances surrounding each potential VIE change.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Some of the more significant estimates include allowances for doubtful accounts, calculation of inventory reserves, valuation of income tax reserves, lease guarantees, insurance reserves, and assumptions related to our post-employment benefit obligations. Actual results could differ from those estimates.

Revenue Recognition

Revenue is recognized when the risks and rewards of ownership and title to the product have transferred to the buyer. This occurs upon the shipment of goods to independent dealers or, in the case of Company-owned retail stores, upon delivery to the customer. We offer terms varying from 30 to 60 days for wholesale customers. For retail sales, 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. Estimates for returns and allowances have been recorded as a reduction to revenue. The contracts with our licensee store owners do not provide for any royalty or license fee to be paid to us. Revenue is reported net of any taxes collected.

Staff Accounting Bulletin No. 104, Revenue Recognition (“SAB 104”) outlines the four basic criteria for recognizing revenue as follows: (1) persuasive evidence of an arrangement exists, (2) delivery has occurred or services have been rendered, (3) the seller’s price to the buyer is fixed or determinable, and (4) collectability is reasonably assured. SAB 104 further asserts that if collectability of all or a portion of the revenue is not reasonably assured, revenue recognition should be deferred until payment is received. During fiscal 2014 and 2013, there were no dealers for which these criteria were not met. During fiscal 2012 there were two dealers for which these criteria were not met and therefore revenue was being recognized on a cost recovery basis. As of and subsequent to November 24, 2012 there have been no dealers that remained on a cost recovery basis. As of November 24, 2012 there was no deferred gross profit resulting from the cost recovery method carried on our balance sheet as a reduction of accounts receivable. For fiscal 2012, no revenue or cost was deferred during the year under the cost recovery method.

Cash Equivalents

The Company considers cash on hand, demand deposits in banks and all highly liquid investments with an original maturity of three months or less to be cash and cash equivalents. Our short-term investments, which consist of certificates of deposit, are not considered cash equivalents since they have original maturities of greater than three months.

Accounts Receivable

Substantially all of our trade accounts receivable is due from customers located within the United States. We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The allowance for doubtful accounts is based on a review of specifically identified accounts in addition to an overall aging analysis. Judgments are made with respect to the collectibility of accounts receivable based on historical experience and current economic trends. Actual losses could differ from those estimates. The majority of our trade accounts receivable and allowance for doubtful accounts are attributable to amounts owed to us by our licensees, with the remaining receivables due primarily from national account customers and traditional distribution channel customers. The percentages of our trade accounts receivable and related allowance for doubtful accounts owed to us by our licensees were as follows at November 29, 2014 and November 30, 2013:

	2014		2013
Portion of trade accounts receivable owed by licensees		46%		50%
Portion of allowance for doubtful accounts attributable to licensees		58%		64%

Concentrations of Credit Risk and Major Customers

Financial instruments that subject us to credit risk consist primarily of investments, accounts and notes receivable and financial guarantees. Investments are managed within established guidelines to mitigate risks. Accounts and notes receivable and financial guarantees subject us to credit risk partially due to the concentration of amounts due from and guaranteed on behalf of independent licensee customers. At November 29, 2014 and November 30, 2013, our aggregate exposure from receivables and guarantees related to customers consisted of the following:

	2014		2013
Accounts receivable, net of allowances (Note 4)	$	15,228	$	16,080
Notes receivable, net of allowances		592		632
Contingent obligations under lease and loan guarantees, less amounts recognized (Note 17)		3,046		3,523
Total credit risk exposure related to customers	$	18,866	$	20,235

At November 29, 2014 approximately 24% of the aggregate risk exposure, net of reserves, shown above was attributable to two licensees. At November 30, 2013, approximately 27% of the aggregate risk exposure, net of reserves, shown above was attributable to two licensees. In fiscal 2014, 2013 and 2012, no customer accounted for more than 10% of total net sales.

We have no foreign manufacturing or retail operations. We define export sales as sales to any country or territory other than the United States or its territories or possessions. Our export sales were approximately $4,774, $4,603, and $4,596 in fiscal 2014, 2013, and 2012, respectively.

Inventories

Inventories (retail merchandise, finished goods, work in process and raw materials) are stated at the lower of cost or market. Cost is determined for domestic manufactured furniture inventories using the last-in, first-out (“LIFO”) method because we believe this methodology provides better matching of revenue and expenses. The cost of imported inventories is determined on a first-in, first-out (“FIFO”) basis. Inventories accounted for under the LIFO method represented 40% of total inventory before reserves at both November 29, 2014 and November 30, 2013. We estimate inventory reserves for excess quantities and obsolete items based on specific identification and historical write-offs, taking into account future demand and market conditions. If actual demand or market conditions in the future are less favorable than those estimated, additional inventory write-downs may be required.

Property and Equipment

Property and equipment is comprised of all land, buildings and leasehold improvements and machinery and equipment used in the manufacturing and warehousing of furniture, our Company-owned retail operations and the administration of the wholesale and Company-owned retail operations. This property and equipment is stated at cost less accumulated depreciation. Depreciation is computed over the estimated useful lives of the respective assets utilizing the straight-line method. Buildings and improvements are generally depreciated over a period of 10 to 39 years. Machinery and equipment are generally depreciated over a period of 5 to 10 years. Leasehold improvements are amortized based on the underlying lease term, or the asset’s estimated useful life, whichever is shorter.

Retail Real Estate

Retail real estate is comprised of owned and leased properties which have been utilized by licensee operated BHF stores, including properties which are now leased or subleased to non-licensee tenants. These properties are located in high traffic, upscale locations that are normally occupied by large successful national retailers. This real estate is stated at cost less accumulated depreciation and is depreciated over the useful lives of the respective assets utilizing the straight line method. Buildings and improvements are generally depreciated over a period of 10 to 39 years. Leasehold improvements are amortized based on the underlying lease term, or the asset’s estimated useful life, whichever is shorter. As of November 29, 2014 and November 30, 2013, the cost of retail real estate included land totaling $1,990 and $3,502, respectively, and building and leasehold improvements of $8,831 and $11,635, respectively. As of November 29, 2014 and November 30, 2013, accumulated depreciation of retail real estate was $4,631 and $4,834, respectively. Depreciation expense was $400, $484, and $501 in fiscal 2014, 2013, and 2012, respectively, and is included in other loss, net, in our consolidated statements of income.

During the year ended November 29, 2014 we received proceeds from the disposition of retail real estate totaling $5,157. During the first quarter of fiscal 2014 we received $1,407 from the sale of our retail real estate investment property in Henderson, Nevada. This property had been classified as held for sale and included in other current assets in our consolidated balance sheet at November 30, 2013. During the third quarter of fiscal 2014 we received net proceeds in the amount of $3,750 from the sale of our retail real estate investment property located in Denver, Colorado. This asset had been included in retail real estate in our consolidated balance sheet at November 30, 2013. There were no material gains or losses associated with these dispositions during the year ended November 29, 2014. Impairment charges related to retail real estate totaled $416 for 2013 and are included in retail real estate impairment charges in other income, a component of non-operating expense in our Consolidated Statements of Income. There were no retail real estate impairment charges in 2014.

Goodwill

Goodwill represents the excess of the fair value of consideration given over the fair value of the tangible assets and liabilities and identifiable intangible assets of businesses acquired. The acquisition of assets and liabilities and the resulting goodwill is allocated to the respective reporting unit: Wholesale, Retail or Investments and Real Estate. We review goodwill at the reporting unit level annually for impairment or more frequently if events or circumstances indicate that assets might be impaired.

In accordance with ASC Topic 350, Intangibles – Goodwill & Other, the goodwill impairment test consists of a two-step process, if necessary. However, we first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test described in ASC Topic 350. The more likely than not threshold is defined as having a likelihood of more than 50 percent. If, after assessing the totality of events or circumstances, we determine that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step impairment test is unnecessary and our goodwill is considered to be unimpaired. However, if based on our qualitative assessment we conclude that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, we will proceed with performing the two-step process. Based on our qualitative assessment as described above, we have concluded that our goodwill is not impaired as of November 29, 2014.

The first step compares the carrying value of each reporting unit that has goodwill with the estimated fair value of the respective reporting unit. Should the carrying value of a reporting unit be in excess of the estimated fair value of that reporting unit, the second step is performed whereby we must calculate the implied fair value of goodwill by deducting the fair value of all tangible and intangible net assets of the reporting unit from the fair value of the reporting unit. This second step represents a hypothetical application of the acquisition method of accounting as if we had acquired the reporting unit on that date. Our impairment methodology uses a discounted cash flow analysis requiring certain assumptions and estimates to be made regarding future profitability of the reporting unit and industry economic factors. While we believe such assumptions and estimates are reasonable, the actual results may differ materially from the projected amounts.

Impairment of Long Lived Assets

We periodically evaluate whether events or circumstances have occurred that indicate long-lived assets may not be recoverable or that the remaining useful life may warrant revision. When such events or circumstances are present, we assess the recoverability of long-lived assets by determining whether the carrying value will be recovered through the expected undiscounted future cash flows resulting from the use and eventual disposition of the asset. In the event the sum of the expected undiscounted future cash flows is less than the carrying value of the asset, an impairment loss equal to the excess of the asset’s carrying value over its fair value is recorded. Fair value is determined based on discounted cash flows or appraised values depending on the nature of the assets. The long-term nature of these assets requires the estimation of cash inflows and outflows several years into the future.

When analyzing our real estate properties for potential impairment, we consider such qualitative factors as our experience in leasing and selling real estate properties as well as specific site and local market characteristics. Upon the closure of a Bassett Home Furnishings store, we generally write off all tenant improvements which are only suitable for use in such a store.

Income Taxes

We account for income taxes under the liability method which requires that we recognize deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amount of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.

We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Despite our belief that our liability for unrecognized tax benefits is adequate, it is often difficult to predict the final outcome or the timing of the resolution of any particular tax matters. We may adjust these liabilities as relevant circumstances evolve, such as guidance from the relevant tax authority or our tax advisors, or resolution of issues in the courts. These adjustments are recognized as a component of income tax expense in the period in which they are identified.

We evaluate our deferred income tax assets to determine if valuation allowances are required or should be adjusted. A valuation allowance is established against our deferred tax assets based on consideration of all available evidence, both positive and negative, using a “more likely than not” standard. This assessment considers, among other matters, the nature, frequency and severity of recent losses, forecasts of future profitability, the duration of statutory carryforward periods, our experience with tax attributes expiring unused and tax planning alternatives. In making such judgments, significant weight is given to evidence that can be objectively verified. See Note 11.

The Company’s fiscal 2013 and 2012 income tax returns are currently under examination by the IRS.

New Store Pre-Opening Costs

Income (loss) from operations for fiscal 2014, 2013 and 2012 includes new store pre-opening costs of $1,217, $671 and $371, respectively. Such costs consist of expenses incurred at the new store location during the period prior to its opening and include, among other things, facility occupancy costs such as rent and utilities and local store personnel costs related to pre-opening activities including training. New store pre-opening costs do not include costs which are capitalized in accordance with our property and equipment capitalization policies, such as leasehold improvements and store fixtures and equipment. Such capitalized costs associated with new stores are depreciated commencing with the opening of the store. There are no pre-opening costs associated with stores acquired from licensees, as such locations were already in operation at the time of their acquisition.

Shipping and Handling Costs

Costs incurred to deliver wholesale merchandise to customers are recorded in selling, general and administrative expense and totaled $16,162, $15,685, and $13,548 for fiscal 2014, 2013 and 2012, respectively. Costs incurred to deliver retail merchandise to customers are also recorded in selling, general and administrative expense and totaled $12,844, $10,855, and $9,957 for fiscal 2014, 2013 and 2012, respectively.

Advertising

Costs incurred for producing and distributing advertising and advertising materials are expensed when incurred and are included in selling, general and administrative expenses. Advertising costs totaled $15,614, $14,750, and $13,296 in fiscal 2014, 2013, and 2012, respectively.

Insurance Reserves

We have self-funded insurance programs in place to cover workers’ compensation and health insurance. For the period from July 2011 through June 2012, workers’ compensation was covered under a guaranteed cost program. These insurance programs are subject to various stop-loss limitations and are partially re-insured through a captive insurance program. We accrue estimated losses using historical loss experience. Although we believe that the insurance reserves are adequate, the reserve estimates are based on historical experience, which may not be indicative of current and future losses. We adjust insurance reserves, as needed, in the event that future loss experience differs from historical loss patterns.

Supplemental Cash Flow Information

In addition to the amounts paid, net of cash acquired, for the acquisition of licensee stores reported under investing activities in our consolidated statements of cash flows, the majority of such acquisitions were funded primarily through non-cash transactions in which receivables due from the licensees were settled in exchange for certain inventory and property and equipment of the licensees as well as the assumption of certain liabilities. There were no such acquisitions during fiscal 2014 and 2013, and the value of the non-cash portion of such transactions was $1,592 for 2012.

Recent Accounting Pronouncements

In July 2013, the FASB issued Accounting Standards Update No. 2013-11 (ASU 2013-11), which updated the guidance in ASC Topic 740, Income Taxes. The amendments in ASU 2013-11 generally provide guidance for the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists at the reporting date. The guidance requires an unrecognized tax benefit to be presented as a decrease in a deferred tax asset where a net operating loss, a similar tax loss, or a tax credit carryforward exists and certain criteria are met. This guidance will become effective for us as of the beginning of our 2015 fiscal year and is consistent with our present practice.

In April 2014, the FASB issued Accounting Standards Update No. 2014-08 (ASU 2014-08), which updated the guidance in ASC Topic 205, Presentation of Financial Statements, and ASC Topic 360, Property, Plant and Equipment. The amendments in ASU 2014-08 change the criteria for reporting discontinued operations for all public and nonpublic entities. The amendments also require new disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. This guidance will become effective for all disposals (or classifications as held for sale) of components of an entity that occur within annual periods beginning on or after December 15, 2014, and interim periods within those years, and therefore will become effective for us as of the beginning of our 2016 fiscal year. The adoption of this guidance is not expected to have a material impact upon our financial condition or results of operations.

In May 2014, the FASB issued Accounting Standards Update No. 2014-09 (ASU 2014-09), which creates ASC Topic 606, Revenue from Contracts with Customers, and supersedes the revenue recognition requirements in Topic 605, Revenue Recognition, including most industry-specific revenue recognition guidance throughout the Industry Topics of the Codification. In addition, ASU 2014-09 supersedes the cost guidance in Subtopic 605-35, Revenue Recognition—Construction-Type and Production-Type Contracts, and creates new Subtopic 340-40, Other Assets and Deferred Costs—Contracts with Customers. In summary, the core principle of Topic 606 is to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. The amendments in ASU 2014-09 are effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period, and early application is not permitted. Therefore the amendments in ASU 2014-09 will become effective for us as of the beginning of our 2018 fiscal year. The Company is currently assessing the impact of implementing the new guidance.

Note 3 - Accumulated Other Comprehensive Loss

12 Months Ended

Nov. 29, 2014

Disclosure Text Block [Abstract]

Comprehensive Income (Loss) Note [Text Block]

3.	Accumulated Other Comprehensive Loss

The activity in accumulated other comprehensive loss for the fiscal years ended November 29, 2014 and November 30, 2013, which is comprised solely of post-retirement benefit costs related to our SERP, is as follows:

Balance at November 24, 2012	$	(1,223	)
Actuarial losses		(434	)
Net pension amortization reclassified from accumulated other comprehensive loss		124
Tax effects		119
Balance at November 30, 2013		(1,414	)
Actuarial losses		(1,084	)
Net pension amortization reclassified from accumulated other comprehensive loss		166
Tax effects		358
Balance at November 29, 2014	$	(1,974	)

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

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+ Details

Note 4 - Accounts Receivable

12 Months Ended

Nov. 29, 2014

Receivables [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

4.	Accounts Receivable

Accounts receivable consists of the following:

	November 29, 2014			November 30, 2013
Gross accounts receivable	$	16,477		$	17,687
Allowance for doubtful accounts		(1,249	)		(1,607	)
Net accounts receivable	$	15,228		$	16,080

Activity in the allowance for doubtful accounts was as follows:

	2014			2013

Balance, beginning of the year	$	1,607		$	1,789
Additions charged to expense		77			361
Write-offs		(435	)		(543	)
Balance, end of the year	$	1,249		$	1,607

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 observable. Consequently, the inputs are considered to be Level 3 as specified in the fair value hierarchy in ASC Topic 820, Fair Value Measurements and Disclosures. See Note 7.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Note 5 - Inventories

12 Months Ended

Nov. 29, 2014

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

5.	Inventories

Inventories consist of the following:

	November 29, 2014			November 30, 2013
Wholesale finished goods	$	31,399		$	28,450
Work in process		298			277
Raw materials and supplies		8,109			8,029
Retail merchandise		26,428			25,167
Total inventories on first-in, first-out method		66,234			61,923
LIFO adjustment		(7,550	)		(7,561	)
Reserve for excess and obsolete inventory		(1,412	)		(1,293	)
	$	57,272		$	53,069

We source a significant amount of our wholesale product from other countries. During 2014, 2013 and 2012, purchases from our two largest vendors located in China and Vietnam were $26,707, $24,217 and $23,416 respectively.

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 be required. In determining reserves, we calculate separate reserves on our wholesale and retail inventories. Our wholesale inventories tend to carry the majority of the reserves for excess quantities and obsolete inventory due to the nature of our distribution model. These wholesale reserves primarily represent design and style obsolescence. Typically, product is not shipped to our retail warehouses until a consumer has ordered and paid a deposit for the product. We do not typically hold retail inventory for stock purposes. Consequently, floor sample inventory and inventory for delivery to customers account for the majority of our inventory at retail. Retail reserves are based on accessory and clearance floor sample inventory in our stores and any inventory that is not associated with a specific customer order in our retail warehouses.

Activity in the reserves for excess quantities and obsolete inventory by segment are as follows:

	Wholesale Segment			Retail Segment			Total
Balance at November 26, 2012	$	715		$	374		$	1,089
Additions charged to expense		2,309			383			2,692
Write-offs		(2,023	)		(465	)		(2,488	)
Balance at November 24, 2013		1,001			292			1,293
Additions charged to expense		1,666			331			1,997
Write-offs		(1,607	)		(271	)		(1,878	)
Balance at November 30, 2014	$	1,060		$	352		$	1,412

Note 6 - Property and Equipment

12 Months Ended

Nov. 29, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

6.	Property and Equipment

Property and equipment consist of the following:

	November 29, 2014			November 30, 2013
Land	$	11,371		$	11,371
Buildings and leasehold improvements		90,204			75,965
Machinery and equipment		70,184			67,183
		171,759			154,519
Less accumulated depreciation		(96,947	)		(90,248	)
	$	74,812		$	64,271

Depreciation expense associated with the property and equipment shown above was included in income from operations in our consolidated statements of income as follows:

	2014		2013		2012
Cost of goods sold (1)	$	542	$	595	$	619
Selling, general and adminstrative expenses (2)		6,814		5,279		4,508
Total depreciation expense included in income from operations	$	7,356	$	5,874	$	5,127

(1)	All associated with our wholesale segment for fiscal 2014, 2013 and 2012.

(2)	Includes depreciation associated with our retail segment of $5,782, $4,531 and $3,955 for fiscal 2014. 2013 and 2012. respectively.

The net book value of property and equipment utilized by Company-owned stores at November 29, 2014 and November 30, 2013 was $59,879 and $51,748 respectively.

Note 7 - Financial Instruments, Investments and Fair Value Measurements

12 Months Ended

Nov. 29, 2014

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

7.	Financial Instruments, Investments and Fair Value Measurements

Financial Instruments

Our financial instruments include cash and cash equivalents, short-term investments in certificates of deposit, accounts receivable, cost and equity method investments, accounts payable and long-term debt. 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. Our cost and equity method investments generally involve entities for which it is not practical to determine fair values.

Investments

Our short-term investments at November 29, 2014 consist of certificates of deposit (CDs) with terms generally ranging from six to twelve months, bearing interest at rates ranging from 0.10% to 0.91% with a weighted average yield of approximately 0.21%. At November 29, 2014, the weighted average remaining time to maturity of the CDs was approximately five months. Each CD is placed with a Federally insured financial institution and all deposits are within Federal deposit insurance limits. Due to the nature of these investments and their relatively short maturities, the carrying amount of the short-term investments at November 29, 2014 approximates their fair value.

Prior to November 24, 2012, our investments consisted of a portfolio of marketable securities and our investment in the Fortress Value Recovery Fund I, LLC (“Fortress”), During the fourth quarter of fiscal 2012 we liquidated our entire portfolio of marketable securities, resulting in a net gain of $313 which is included in income from investments in our accompanying consolidated statement of income for the year ended November 24, 2012. Our marketable securities had been classified as available-for-sale and were marked to market and recorded at their fair value. We measured the fair value of our marketable securities in accordance with ASC Topic 820, Fair Value Measurements and Disclosures.

Prior to the liquidation of our available for sale securities, unrealized holding gains and losses, net of the related income tax effect, had been excluded from income and were reported as other comprehensive income in stockholders’ equity. The realized earnings from our marketable securities portfolio include realized gains and losses, based upon specific identification, and dividend and interest income. Realized earnings were $453 for fiscal 2012. Realized earnings for the year ended November 24, 2012 include $208 of gains previously recorded in other comprehensive income. These amounts are recorded other loss, net in our consolidated statements of income.

We hold an investment in the Fortress Value Recovery Fund I, LLC (“Fortress”). Due to significant declines in net asset values during the first quarter of fiscal 2012, the highly illiquid nature of the investment, and the high degree of uncertainty regarding our ability to recover our investment in the foreseeable future, we fully impaired the carrying amount of this investment during the year ended November 24, 2012. During the year ended November 29, 2014, we recognized gains of $280 resulting from the partial liquidation of Fortress which is included in other loss, net in our consolidated statement of income. The timing and amount of future receipts, if any, from the liquidation of Fortress, remain uncertain, and will be recognized as gains in other income if and when notification of a distribution is received.

Fair Value Measurement

The Company accounts for items measured at fair value in accordance with ASC Topic 820, Fair Value Measurements and Disclosures. ASC 820’s valuation techniques are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect our market assumptions. ASC 820 classifies these inputs into the following hierarchy:

Level 1 Inputs– Quoted prices for identical instruments in active markets.

Level 2 Inputs– Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable.

Level 3 Inputs– Instruments with primarily unobservable value drivers.

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 mortgages payable for disclosure purposes (see Note 12) involves Level 3 inputs. Our primary non-recurring fair value estimates, typically involving the valuation of business acquisitions (Note 9 to the Consolidated Financial Statements) and asset impairments (see Note 15) have utilized Level 3 inputs.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Note 8 - Income from the Continued Dumping and Subsidy Offset Act

12 Months Ended

Nov. 29, 2014

Income From Continued Dumping And Subsidy Offset Act [Abstract]

Income From Continued Dumping And Subsidy Offset Act [Text Block]

8.	Income from the Continued Dumping and Subsidy Offset Act

During the year ended November 24, 2012, U.S. Customs and Border Protection (“Customs”) made a distribution to us of $9,010 representing our share of the final distribution of duties that have been withheld by Customs under the Continued Dumping and Subsidy Offset Act of 2000 (“CDSOA”). Certain manufacturers who did not support the antidumping petition (“Non-Supporting Producers”) filed actions in the United States Court of International Trade challenging the CDSOA's “support requirement” and seeking to share in the distributions. As a result, Customs held back a portion of those distributions (“the Holdback”) pending resolution of the Non-Supporting Producers' claims. The Court of International Trade dismissed all of the actions of the Non-Supporting Producers, who appealed to the United States Court of Appeals for the Federal Circuit (“the Court of Appeals”). The Court of Appeals denied the Non-Supporting Producers’ request for an injunction to block the final distribution of the Holdback and allowed Customs to distribute the funds in April of 2012, including the Company’s share of $9,010. The Court of Appeals ruled against the Non-Supporting Producers, who then each filed petitions for a writ of certiorari with the U.S. Supreme Court to obtain a hearing of their appeal. These petitions have since been denied, effectively ending the appeals process and the possibility that Customs would seek a return of the final distribution.

Note 9 - Licensee Acquisitions and Goodwill

12 Months Ended

Nov. 29, 2014

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

9.	Licensee Acquisitions and Goodwill

As we continually monitor business relationships with our licensees, we may determine from time to time that it is in our best interest to acquire a licensee’s operations in order to mitigate certain risks associated with the poor performance or potential failure of a licensee. Such risks include loss of receivables or underlying collateral, potential impairment of the value of our investments in real estate used by a licensee or exposure to contingent liabilities under lease guarantees, and potential harm to our market share and brand integrity within a licensee’s market. In addition, we are sometimes approached by our licensees to acquire all or certain stores operated by the licensee. We evaluate such opportunities considering, among other things, the viability of the market and our participation in the store real estate.

There were no acquisitions of licensee operations during fiscal 2014 and 2013. During fiscal 2012, we acquired one store located in Knoxville, Tennessee and two stores in the Orange County, California market. In both cases our licensees desired to exit those markets but continue operating in other markets. The acquisition price for the Knoxville store was $673, funded through the exchange of $485 in cash and $188 in existing accounts receivable for the net assets acquired from the licensee plus recognized goodwill of $375. The acquisition price for the two Orange County stores was $1,468, funded through the exchange of $64 in cash and $1,404 in existing accounts receivable for the net assets acquired plus recognized goodwill of $921.

Our acquisitions were accounted for in accordance with ASC Topic 805, Business Combinations. The following table summarizes the net assets acquired and consideration given in the store acquisitions which occurred in fiscal 2012:

	2012
Net assets acquired:
Inventory	$	1,480
Property and equipment/other		592
Goodwill		1,296
Customer deposits and other accrued expenses		(1,227	)

Total net assets acquired	$	2,141

Consideration given:
Accounts receivable	$	1,592
Cash		549

Total consideration	$	2,141

The assets acquired and liabilities assumed were measured at fair value in accordance with ASC 805. Acquired inventory is valued at expected retail sales price less an allowance for direct selling costs and profit thereon. Acquired property and equipment are valued based upon our estimate of replacement cost less an allowance for age and condition at the time of acquisition. Customer deposits and accrued expenses are expected to be settled at face value within a short period following acquisition; therefore face value is assumed to approximate fair value. The inputs into these fair value calculations reflect our market assumptions and are not observable. Consequently, the inputs are considered to be Level 3 as specified in the fair value hierarchy in ASC 820, Fair Value Measurements and Disclosures. See Note 7.

The pro forma impact of the acquisitions is not presented as we believe it is impractical to do so. We were not able to compile what we believed to be complete, accurate and reliable accounting information to use as a basis for pro forma presentations without an unreasonable effort. Net sales and operating losses generated by these stores subsequent to their acquisition during fiscal 2012 were $1,646 and $62, respectively.

The carrying value of our goodwill, which is included in other long-term assets in the accompanying consolidated balance sheets, was $1,731 at both November 29, 2014 and November 30, 2013. Of this balance, $1,129 is allocated to our wholesale segment and $602 is allocated to our retail segment. There have been no changes in the carrying value of our goodwill subsequent to the 2012 acquisitions. We perform our annual goodwill impairment review as of the beginning of our fiscal fourth quarter. No impairment charges have been required since fiscal 2009.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

Note 10 - Unconsolidated Affiliated Companies

12 Months Ended

Nov. 29, 2014

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

10.	Unconsolidated Affiliated Companies

Zenith Freight Lines, LLC

We own 49% of Zenith Freight Lines, LLC, (“Zenith”) which provides domestic transportation and warehousing services primarily to furniture manufacturers and distributors and also provides home delivery services to furniture retailers. We have contracted with Zenith to provide for substantially all of our domestic freight, transportation and warehousing needs for the wholesale business. In addition, Zenith provides home delivery services for several of our Company-owned retail stores. Our investment in Zenith was $7,915 at November 29, 2014 and $7,254 at November 30, 2013 and is recorded in other long-term assets. We paid Zenith approximately $31,308, $29,313 and $25,317, for freight expense and logistical services in fiscal 2014, 2013, and 2012, respectively. At November 29, 2014 and November 30, 2013, we owed Zenith $2,628 and $2,580, respectively, for services rendered to us. We believe the transactions with Zenith are at current market rates. We recorded the following earnings (losses) in income from unconsolidated affiliated companies, net in our consolidated statements of income:

		2014				2013				2012
Earnings recognized		$	661			$	770			$	347

See Note 21 regarding the announcement of our intention to acquire the remaining 51% of Zenith in 2015.

International Home Furnishings Center

In connection with the sale of our interest in International Home Furnishings Center, Inc. (“IHFC”) on May 2, 2011, to International Market Centers, L.P. (“IMC”), $6,106 of the sales proceeds were placed in escrow at the time of the sale to cover various contingencies. At various times during fiscal 2012, 2013 and 2014, the contingencies were satisfied without loss to the Company and the funds were released to us. The amounts collected in each year were as follows:

	Total Escrow Receivable
Balance at November 26, 2011	$	6,106
Received in fiscal 2012		(1,410	)
Balance at November 24, 2012		4,696
Received in fiscal 2013		(2,348	)
Balance at November 30, 2013		2,348
Received in fiscal 2014		(2,348	)
Balance at November 29, 2014	$	-

The balance of $2,348 receivable at November 30, 2013 was included in other current assets in our consolidated balance sheet.

In addition to the proceeds described above, at the time of the sale we acquired a minority interest in IMC in exchange for $1,000. IMC is majority owned by funds managed by Bain Capital Partners and a subsidiary of certain investment funds managed by Oaktree Capital Management, L.P, Our investment in IMC is included in other long-term assets in the accompanying consolidated balance sheets and is accounted for using the cost method as we do not have significant influence over IMC.

Note 11 - Income Taxes

12 Months Ended

Nov. 29, 2014

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

11.	Income Taxes

The components of the income tax provision (benefit) are as follows:

	2014			2013		2012
Current:
Federal	$	4,168		$	759	$	1,611
State		596			50		(487	)

Deferred:
Increase (decrease) in valuation allowance		(974	)		136		(18,704	)
Federalf		221			1,970		2,458
State		1,297			176		423
Total	$	5,308		$	3,091	$	(14,699	)

Excess tax benefits in the amount of $300 and $313 were recognized as additional paid-in capital during fiscal 2014 and fiscal 2013, respectively, resulting from the exercise of stock options and the release of restricted shares.

A reconciliation of the statutory federal income tax rate and the effective income tax rate, as a percentage of income before income taxes, is as follows:

	2014			2013			2012
Statutory federal income tax rate		35.0	%		34.0	%		35.0	%
Adjustments to state net operating loss carryforwards		3.3			-			-
Change in income tax valuation allowance		(3.7	)		1.7			(155.6	)
Change in income tax reserves		(1.7	)		0.1			(3.3	)
State income tax, net of federal benefit		4.9			3.7			1.5
Other		(1.5	)		(1.7	)		0.1
Effective income tax rate		36.3	%		37.8	%		(122.3	)%

The income tax effects of temporary differences and carryforwards, which give rise to significant portions of the deferred income tax assets and deferred income tax liabilities, are as follows:

	November 29, 2014			November 30, 2013
Deferred income tax assets:
Trade accounts receivable	$	483		$	618
Inventories		2,384			2,277
Property and equipment		-			756
Notes receivable		1,599			1,592
Retirement benefits		6,093			5,626
State net operating loss carryforwards		1,141			2,482
Unrealized loss from affiliates		595			988
Lease termination accruals		167			349
Net deferred rents		2,251			1,256
Other		1,699			1,142
Gross deferred income tax assets		16,412			17,086
Valuation allowance		(70	)		(1,044	)
Total deferred income tax assets		16,342			16,042

Deferred income tax liabilities:
Unrealized gains from affiliates		963			755
Property and equipment		282			-
Prepaid expenses and other		128			135

Total deferred income tax liabilities		1,373			890

Net deferred income tax assets	$	14,969		$	15,152

Due to the losses incurred prior to fiscal 2011, we were in a cumulative loss position for the three years preceding fiscal 2011which is considered significant negative evidence that is difficult to overcome on a “more likely than not” standard through objectively verifiable data. While our long-term financial outlook remained positive, we concluded that our ability to rely on our long-term outlook and forecasts as to future taxable income was limited due to uncertainty created by the weight of the negative evidence. As a result, we previously recorded a valuation allowance on certain of the deferred tax assets. In fiscal 2011, due to the gain recognized on the sale of our interest in IHFC, we were able to utilize net operating loss carryforwards and credits to significantly offset the taxable gain, resulting in a $17,464 reduction of the valuation allowance. However, as the gain on the sale of IHFC did not represent a source of recurring future taxable income, we continued to record a valuation allowance against substantially all of our deferred tax assets as of November 26, 2011. Due to our positive earnings during fiscal 2012, and the absence of any significant negative evidence to the contrary, we concluded that we could rely on our positive long-term outlook and forecasts as to future taxable income in evaluating our ability to realize our deferred tax assets. Accordingly, the reserve against the majority of our deferred tax assets was removed in fiscal 2012, resulting in a credit to income of $18,704, or $1.70 and $1.69 per basic and diluted share, respectively, which is included in our net income tax benefit for that year. The valuation allowance of $1,044 at November 30, 2013 was primarily related to state net operating loss carryforwards for which it was considered to be more likely than not that they would not be utilized prior to their expiration. During fiscal 2014 we reduced our valuation allowance related to adjustments to state net operating loss carryforwards primarily due to state tax law changes resulting in a credit to income of $974, or $0.09 per basic and diluted share. The remaining balance in the valuation allowance at November 29, 2014 was $70.

The following table represents a summary of the valuation allowances against deferred tax assets:

	2014			2013		2012

Balance, beginning of the year	$	1,044		$	908	$	19,612
Additions charged to expense		-			136		-
Deductions reducing expense		(974	)		-		(18,704	)
Balance, end of the year	$	70		$	1,044	$	908

We have state net operating loss carryforwards available to offset future taxable state income of $22,439, which expire in varying amounts between 2015 and 2030. Realization is dependent on generating sufficient taxable income prior to expiration of the loss carryforwards.

Income taxes paid, net of refunds received, during 2014, 2013 and 2012 were $2,367, $2,723, and $2,010, respectively.

As of November 29, 2014, the gross amount of unrecognized tax benefits was approximately $1,236 exclusive of interest and penalties. Of this balance, none would benefit the effective tax rate if we were to prevail on all unrecognized tax benefits recorded. As of November 30, 2013, the gross amount of unrecognized tax benefits was approximately $1,497, exclusive of interest and penalties. Of this balance, if we were to prevail on all unrecognized tax benefits recorded, approximately $239 would benefit the effective tax rate. We regularly evaluate, assess and adjust the related liabilities in light of changing facts and circumstances, which could cause the effective tax rate to fluctuate from period to period.

The following table summarizes the activity related to our gross unrecognized tax benefits:

	2014			2013			2012
Balance, beginning of the year	$	1,497		$	1,228		$	1,502
Gross increases		-			401			10
Gross decreases due to settlements		(221	)		-			-
Gross decreases primarily due to the expiration of statutes		(40	)		(132	)		(284	)

Balance, end of the year	$	1,236		$	1,497		$	1,228

We recognize interest and penalties related to unrecognized tax benefits in income tax expense. During fiscal 2014, 2013, and 2012, we recognized $7, $23, and $63 of interest expense recovery and $10, $31, and $57 of penalty expense recovery, respectively, related to the unrecognized benefits noted above in our consolidated statements of income. At November 29, 2014 and November 30, 2013, the consolidated balance sheets include accrued interest of $134 and $140, and penalties of $0 and $10, respectively, due to unrecognized tax benefits. At November 29, 2014,$1,370 representing the entire amount of our gross unrecognized tax benefits along with the accrued interest and penalties thereon is included in other accrued liabilities in our consolidated balance sheet as we believe it is likely these uncertain positions will be resolved in 2015. The corresponding balance as November 30, 2013 of $1,647 was included in other long-term liabilities.

Significant judgment is required in evaluating the Company's federal and state tax positions and in the determination of its tax provision. Despite our belief that the liability for unrecognized tax benefits is adequate, it is often difficult to predict the final outcome or the timing of the resolution of any particular tax matter. We may adjust these liabilities as relevant circumstances evolve, such as guidance from the relevant tax authority, or resolution of issues in the courts. These adjustments are recognized as a component of income tax expense in the period in which they are identified. The Company also cannot predict when or if any other future tax payments related to these tax positions may occur.

We remain subject to examination for tax years 2011 through 2013 for all of our major tax jurisdictions. The Company’s fiscal 2012 and 2013 income tax returns are currently under examination by the IRS.

The IRS released the final and re-proposed tangible property regulations in September of 2013. While the regulations are now final, they are effective for tax years beginning on or after January 1, 2014, which for the Company will be fiscal 2015. We have begun to evaluate the changes necessary to comply with the regulations and the related administrative procedures and the new regulations are not expected to have a significant impact on our financial statements.

Note 12 - Real Estate Notes Payable and Bank Credit Facility

12 Months Ended

Nov. 29, 2014

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

12.	Real Estate Notes Payable and Bank Credit Facility

The real estate notes payable and bank debt are summarized as follows:

Real Estate Notes Payable

	November 29, 2014			November 30, 2013
Real estate notes payable	$	2,218		$	2,746
Current portion of real estate notes payable		(316	)		(279	)
	$	1,902		$	2,467

Certain of our retail real estate properties have been financed through commercial mortgages with an interest rate of 6.73%. These mortgages are collateralized by the respective properties with net book values totaling approximately $6,127 and $6,262 at November 29, 2014 and November 30, 2013, respectively. The current portion of these mortgages, $316 and $279 as of November 29, 2014 and November 30, 2013, respectively, has been included in other accrued liabilities in the accompanying consolidated balance sheets. The long-term portion, $1,902 and $2,467 as of November 29, 2014 and November 30, 2013, respectively, is presented as real estate notes payable in the consolidated balance sheets.

The fair value of these mortgages was $2,196 and $2,684 at November 29, 2014 and November 30, 2013, respectively. In determining the fair value we utilized current market interest rates for similar instruments. The inputs into these fair value calculations reflect our market assumptions and are not observable. Consequently, the inputs are considered to be Level 3 as specified in the fair value hierarchy in ASC Topic 820, Fair Value Measurements and Disclosures. See Note 7.

Maturities of real estate notes payable are as follows:

Fiscal 2015	$	316
Fiscal 2016		338
Fiscal 2017		361
Fiscal 2018		386
Fiscal 2019		413
Thereafter		404
	$	2,218

Bank Credit Facility

On December 18, 2012, we entered into a new credit facility with our bank extending us a line of credit of up to $15,000. This credit facility, which matures in December 2015, is secured by our accounts receivable and inventory and contains certain covenants requiring us to maintain certain key financial ratios. We were in compliance with all covenants under the facility at November 29, 2014 and expect to remain in compliance for the foreseeable future.

At November 29, 2014 we had $216 outstanding under standby letters of credit, leaving availability under our credit line of $14,784.

Total interest paid, including bank and mortgage debt, during fiscal 2014, 2013 and 2012 was $176, $244 and $294, respectively.

Note 13 - Post-Employment Benefit Obligations

12 Months Ended

Nov. 29, 2014

Postemployment Benefits [Abstract]

Postemployment Benefits Disclosure [Text Block]

13.	Post-Employment Benefit Obligations

Supplemental Retirement Income Plan

We have an unfunded Supplemental Retirement Income Plan (the “Supplemental Plan”) that covers one current and certain former executives. Upon retirement, the Supplemental Plan provides for lifetime monthly payments in an amount equal to 65% of the participant’s final average compensation as defined in the Supplemental Plan, which is reduced by certain social security benefits to be received and other benefits provided by us. The Supplemental Plan also provides a death benefit that is calculated as (a) prior to retirement death, which pays the beneficiary 50% of final average annual compensation for a period of 120 months, or (b) post-retirement death, which pays the beneficiary 200% of final average compensation in a single payment. We own life insurance policies on these executives with a current net death benefit of $3,148 at November 29, 2014 and we expect to substantially fund this death benefit through the proceeds received upon the death of the executive. Funding for the remaining cash flows is expected to be provided through operations. There are no benefits payable as a result of a termination of employment for any reason other than death or retirement, other than a change of control provision which provides for the immediate vesting and payment of the retirement benefit under the Supplemental Plan in the event of an employment termination resulting from a change of control.

Summarized information for the plan measured as of the end of each year presented, is as follows:

	2014			2013
Change in Benefit Obligation:
Projected benefit obligation at beginning of year	$	9,775		$	9,805
Service cost		78			71
Interest cost		373			350
Actuarial losses		1,084			434
Benefits paid		(934	)		(885	)
Projected benefit obligation at end of year	$	10,376		$	9,775

Accumulated Benefit Obligation	$	9,748		$	9,215

Discount rate used to value the ending benefit obligations:		3.75	%		4.00	%

Amounts recognized in the consolidated balance sheet:
Current liabilities	$	724		$	810
Noncurrent liabilities		9,652			8,965
	$	10,376		$	9,775
Amounts recognized in accumulated other comprehensive income:
Transition obligation	$	170		$	212
Actuarial loss		3,046			2,085
Net amount recognized	$	3,216		$	2,297

Total recognized in net periodic benefit cost and accumulated other comprehensive income:	$	1,535		$	855

	2014		2013		2012

Components of Net Periodic Pension Cost:
Service cost	$	78	$	71	$	54
Interest cost		373		350		376
Amortization of transition obligation		42		42		42
Amortization of other loss		123		81		11

Net periodic pension cost	$	616	$	544	$	483

Assumptions used to determine net periodic pension cost:
Discount rate	4.00	%	3.75	%	4.25	%
Increase in future compensation levels	3.00	%	3.00	%	3.00	%

Estimated Future Benefit Payments (with mortality):
Fiscal 2015	$	724
Fiscal 2016		695
Fiscal 2017		667
Fiscal 2018		639
Fiscal 2019		610
Fiscal 2020 through 2024		3,432

Of the $3,216 recognized in accumulated other comprehensive income at November 29, 2014, $42 of net transition obligation and $194 of net loss are expected to be recognized as components of net periodic pension cost during fiscal 2015.

Deferred Compensation Plan

We have an unfunded Deferred Compensation Plan that covers one current and certain former executives and provides for voluntary deferral of compensation. This plan has been frozen with no additional participants or benefits permitted. We recognized expense of $134, $288, and $312 in fiscal 2014, 2013, and 2012, respectively, associated with the plan. The expense for fiscal 2014 is net of a credit to income of $124 due to a change in our estimate of the future obligation of a former employee. Our liability under this plan was $2,174 and $2,555 as of November 29, 2014 and November 30, 2013, respectively. The non-current portion of this obligation is included in post-employment benefit obligations in our consolidated balance sheets, with the current portion included in accrued compensation and benefits.

Defined Contribution Plan

We have a qualified defined contribution plan (Employee Savings/Retirement Plan) that covers substantially all employees who elect to participate and have fulfilled the necessary service requirements. Employee contributions to the Plan are matched at the rate of 15% of up to 8% of gross pay, regardless of years of service. Expense for employer matching contributions was $397, $340 and $175 during fiscal 2014, 2013 and 2012, respectively.

Note 14 - Capital Stock and Stock Compensation

12 Months Ended

Nov. 29, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

14.	Capital Stock and Stock Compensation

We account for our stock-based employee and director compensation plans in accordance with ASC 718, Compensation – Stock Compensation. ASC 718 requires recognition of the cost of employee services received in exchange for an award of equity instruments in the financial statements over the period the employee is required to perform the services in exchange for the award (presumptively the vesting period) which we recognize on a straight-line basis. Compensation expense related to restricted stock and stock options included in selling, general and administrative expenses in our consolidated statements of income for fiscal 2014, 2013 and 2012 was as follows:

2014		2013		2012

$	951	$	728	$	636

Stock Option Plans

In 1997, we adopted an Employee Stock Plan (the “1997 Plan”), and reserved for issuance 950,000 shares of common stock. An additional 500,000 shares of common stock were authorized for issuance in 2000. In addition, the terms of the 1997 Plan allow for the re-issuance of any stock options which have been forfeited before being exercised. Options granted under the 1997 Plan may be for such terms and exercised at such times as determined by the Organization, Compensation, and Nominating Committee of the Board of Directors. Vesting periods typically range from one to three years. There are no shares available for grant under the 1997 Plan at November 29, 2014, however up to 500,000 shares associated with outstanding grants under the 1997 may become available for grant under the 2010 Plan (see below).

On April 14, 2010, our shareholders approved the Bassett Furniture Industries, Incorporated 2010 Stock Incentive Plan (the “2010 Plan”). All present and future non-employee directors, key employees and outside consultants for the Company are eligible to receive incentive awards under the 2010 Plan. Our Organization, Compensation and Nominating Committee (the “Compensation Committee”) selects eligible key employees and outside consultants to receive awards under the 2010 Plan in its discretion. Our Board of Directors or any committee designated by the Board of Directors selects eligible non-employee directors to receive awards under the 2010 Plan in its discretion. Five hundred thousand (500,000) shares of common stock are reserved for issuance under the 2010 Plan. In addition, up to 500,000 shares that are represented by outstanding awards under the 1997 Employee Stock Plan which are forfeited, expire or are canceled after the effective date of the 2010 Plan will be added to the reserve and may be used for new awards under the 2010 Plan. Participants may receive the following types of incentive awards under the 2010 Plan: stock options, stock appreciation rights, payment shares, restricted stock, restricted stock units and performance shares. Stock options may be incentive stock options or non-qualified stock options. Stock appreciation rights may be granted in tandem with stock options or as a freestanding award. Non-employee directors and outside consultants are eligible to receive restricted stock and restricted stock units only. We expect to issue new common stock upon the exercise of options.

The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model. The risk free rate is based on the U.S. Treasury rate for the expected life at the time of grant, volatility is based on the average long-term implied volatilities of peer companies, the expected life is based on the estimated average of the life of options using the simplified method, and forfeitures are estimated on the date of grant based on certain historical data. We utilize the simplified method to determine the expected life of our options due to insufficient exercise activity during recent years as a basis from which to estimate future exercise patterns.

Stock Options

There were no new grants of options made in 2014, 2013 or 2012.

Changes in the outstanding options under our plans during the year ended November 29, 2014 were as follows:

	Number of Shares			Weighted Average Exercise Price Per Share

Outstanding at November 30, 2013		735,100		$	15.08
Granted		-			-
Exercised		(32,850	)		9.65
Forfeited/Expired		(265,000	)		20.92
Outstanding at November 29, 2014		437,250			11.94
Exercisable at November 29, 2014		414,500		$	12.16

Changes in the non-vested options under our plans during the year ended November 29, 2014 were as follows:

	Number of Shares			Weighted Average Grant Date Fair Value Per Share

Non-vested options outstanding at November 30, 2013		86,500		$	6.31
Granted		-			-
Vested		(63,750	)		5.69
Forfeited/Expired		-			-
Non-vested options outstanding at November 29, 2014		22,750		$	8.04

Unrecognized compensation cost related to these non-vested options at November 29, 2014 is $49, all of which is expected to be recognized during fiscal 2015.

Additional information regarding our outstanding stock options at November 29, 2014 is as follows:

			Options Outstanding						Options Exercisable
Range of Exercise Prices			Shares		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
$3.23	-	$6.45		68,000		5.6	$	4.38		68,000	$	4.38
$6.45	-	$9.67		62,750		6.5		8.03		40,000		8.03
$9.68	-	$12.90		104,000		2.9		10.60		104,000		10.60
$12.91	-	$16.13		52,500		2.4		14.73		52,500		14.89
$16.14	-	$19.35		150,000		1.6		16.96		150,000		16.96
				437,250						414,500

Aggregate intrinsic value			$	3,349					$	3,084

Additional information regarding activity in our stock options during fiscal 2014, 2013 and 2012 is as follows:

	2014		2013		2012
Total intrinsic value of options exercised	$	236	$	387	$	530
Total fair value of options vested		200		363		371
Total cash received from the exercise of options		382		413		536
Excess tax benefits recognized as additional paid-in capital upon the exercise of options		72		106		-

Restricted Shares

Changes in the outstanding non-vested restricted shares during the year ended November 29, 2014 were as follows:

	Number of Shares			Weighted Average Grant Date Fair Value Per Share

Non-vested restricted shares outstanding at November 30, 2013		165,893		$	12.23
Granted		66,339			14.21
Vested and released		(108,495	)		9.96
Forfeited		-			-
Non-vested restricted shares outstanding at November 29, 2014		123,737		$	15.28

Restricted share awards granted in fiscal 2014 included the grant of 54,000 shares on January 15, 2014 which were subject to a performance condition as well as a service condition. The performance condition was based on a measure of the Company’s operating cash flow for 2014 and has now been satisfied. Shares will be issued on the first anniversary. They will remain subject to an additional two-year service requirement and will vest on the third anniversary of the grant. The remaining grants for 2014 consisted of 12,399 restricted shares granted to our non-employee directors on April 1, 2014 which will vest on the first anniversary of the grant.

During fiscal 2014, 108,495 restricted shares were vested and released, of which 97,200 shares had been granted to employees and 11,295 shares to directors. Of the shares released to employees, 31,234 shares were withheld by the Company to cover withholding taxes of $489. During fiscal 2013, 11,550 shares were withheld to cover withholding taxes of $202 arising from the vesting of restricted shares. Excess tax benefits of $228 and $207 were recognized during fiscal 2014 and 2013, respectively, as additional paid-in capital upon the release of vested shares. Activity related to the vesting and release of restricted shares prior to fiscal 2013 was not material.

Additional information regarding our outstanding non-vested restricted shares at November 29, 2014 is as follows:

					Remaining
	Restricted		Share Value		Restriction
Grant	Shares		at Grant Date		Period
Date	Granted		Per Share		(Years)

July 13, 2012		1,398	$	11.69		0.6
July 17, 2013		56,000		16.64		3.6
January 15, 2014		54,000		14.12		2.1
April 1, 2014		12,339		14.59		0.3
		123,737

Unrecognized compensation cost related to these non-vested restricted shares at November 29, 2014 is $1,403, expected to be recognized over approximately a three and one-half year period.

Employee Stock Purchase Plan

In 2000, we adopted and implemented an Employee Stock Purchase Plan (“ESPP”) that allows eligible employees to purchase a limited number of shares of our stock at 85% of market value. Under the ESPP we sold 25,677, 38,206 and 42,211 shares to employees in fiscal 2014, 2013 and 2012, respectively, which resulted in an immaterial amount of compensation expense.

Note 15 - Restructuring, Asset Impairment, and Other Charges

12 Months Ended

Nov. 29, 2014

Disclosure Text Block Supplement [Abstract]

Restructuring, Impairment, and Other Activities Disclosure [Text Block]

15. Restructuring, asset impairment, and other charges

During 2012, our income from operations included the following charges:

Restructuring and asset impairment charges:
Asset impairment charges related to Company-owned retail store closures	$	123
Asset impairment charges & demolition costs associated with closed plants		588
Total restructuring and asset impairment charges	$	711

Lease exit costs
Lease exit costs related to Company-owned retail store closures	$	228
Changes in estimates related to previously closed Company-owned retail stores		131
Total lease exit costs	$	359
Total charges related to restructuring, asset impairment, lease exit costs and debt cancellation included in loss from operations	$	1,070

Of the total restructuring, asset impairment charges and lease exit costs incurred in 2012, $719 was incurred in our wholesale segment while $351 was incurred in our retail segment.

The following table summarizes the activity related to our accrued lease exit costs:

	2014			2013

Balance, beginning of the year	$	907		$	2,614
Provisions made to adjust previous estimates		14			(176	)
Payments on unexpired leases		(510	)		(1,610	)
Accretion of interest on obligations		22			79

Balance, end of the year	$	433		$	907

Current portion included in other accrued liabilities	$	117		$	474
Long-term portion included in other long-term liabilities		316			433
	$	433		$	907

Restructuring and Asset Impairment Charges

During fiscal 2012, we incurred costs of $203 associated with the demolition of a previously closed manufacturing facility in Bassett, Virginia; non-cash charges of $385 associated with the write-down of a previously closed manufacturing facility in Mt. Airy, North Carolina; and $123 associated with the write off of abandoned leasehold improvements following the relocation of a retail store near Richmond, Virginia.

Lease Exit Costs

During fiscal 2012, we incurred non-cash charges of $228 for lease exit costs associated with the relocation of a retail store near Richmond, Virginia, as well as $131 of non-cash charges to reflect reduced estimates of recoverable lease costs at several previously closed retail locations.

Note 16 - Contingencies

12 Months Ended

Nov. 29, 2014

Disclosure Text Block Supplement [Abstract]

Legal Matters and Contingencies [Text Block]

16. Contingencies

We are involved in various claims and actions, including 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, it is our opinion that the final resolution of these matters will not have a material adverse effect on our financial position or future results of operations.

Note 17 - Leases and Lease Guarantees

12 Months Ended

Nov. 29, 2014

Leases Lease Guarantees And Loan Guarantees [Abstract]

Leases Lease Guarantees And Loan Guarantees [Text Block]

17. Leases and Lease Guarantees

Leases

We lease land and buildings under operating leases that are used in the operation of our Company-owned retail stores as well as in the operation of independent licensee BHF stores. Our decision to exercise renewal options is primarily dependent on the level of business conducted at the location and the profitability thereof. Some store leases contain contingent rental provisions based upon sales volume. Lease terms range from one to 15 years and generally have renewal options of between five and 15 years. The following schedule shows future minimum lease payments under non-cancelable operating leases having remaining terms in excess of one year as of November 29, 2014:

Fiscal 2015	$	18,243
Fiscal 2016		15,713
Fiscal 2017		13,194
Fiscal 2018		10,778
Fiscal 2019		8,984
Thereafter		25,646
	$	92,558

Lease expense was $19,903, $18,403 and $17,123 for 2014, 2013, and 2012, respectively.

In addition to subleasing certain of these properties, we own retail real estate which we in turn lease to licensee operators of BHF stores. We also own real estate for closed stores which we lease to non-licensees. The following schedule shows minimum future rental income related to pass-through rental expense on subleased property as well as rental income on real estate owned by Bassett.

Fiscal 2015	$	2,688
Fiscal 2016		1,781
Fiscal 2017		1,406
Fiscal 2018		869
Fiscal 2019		252
Thereafter		132
	$	7,128

Real estate rental income (loss), net of expense (including lease costs, depreciation, insurance, and taxes), related to licensee stores and other investment real estate, was $(248), $(594) and $(468) in 2014, 2013 and 2012, respectively, and is reflected in other expense, net in the accompanying consolidated statements of income.

Guarantees

As part of the strategy for our store program, we have guaranteed certain lease obligations of licensee operators. Lease guarantees range from one to ten years. We were contingently liable under licensee lease obligation guarantees in the amount of $3,164 and $3,698 at November 29, 2014 and November 30, 2013, respectively.

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 limited to, arranging for a replacement dealer, liquidating the collateral, and pursuing payment under the personal guarantees of the independent dealer. The proceeds of the above options are estimated to cover the maximum amount of our future payments under the guarantee obligations, net of reserves. The fair value of lease guarantees (an estimate of the cost to the Company to perform on these guarantees) at November 29, 2014 and November 30, 2013, were not material.

Note 18 - Earnings Per Share

12 Months Ended

Nov. 29, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

18. Earnings Per Share

The following table sets forth the computation of basic and diluted earnings per share:

	2014		2013		2012
Numerator:
Net income	$	9,299	$	5,096	$	26,713

Denominator:
Denominator for basic income per share - weighted average shares		10,552,462		10,721,652		10,992,017
Effect of dilutive securities		140,569		150,897		103,394
Denominator for diluted income per share — weighted average shares and assumed conversions		10,693,031		10,872,549		11,095,411

Basic income per share:
Net income per share — basic	$	0.88	$	0.48	$	2.43

Diluted income per share:
Net income per share — diluted	$	0.87	$	0.47	$	2.41

For fiscal 2014, 2013 and 2012, the following potentially dilutive shares were excluded from the computations as there effect was anti-dilutive:

	2014		2013		2012
Stock options		150,000		472,500		622,500
Unvested restricted shares		-		81,295		12,582

Total anti-dilutive securities		150,000		553,795		635,082

Note 19 - Segment Information

12 Months Ended

Nov. 29, 2014

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

19. Segment Information

We have strategically aligned our business into three reportable segments as defined in ASC 280, Segment Reporting, and as described below:

●

Wholesale. The wholesale home furnishings segment is involved principally in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (Company-owned and licensee-owned stores retail stores) and independent furniture retailers. Our wholesale segment includes our wood and upholstery operations as well as all corporate selling, general and administrative expenses, including those corporate expenses related to both Company- and licensee-owned stores.

●

Retail – Company-owned Stores. Our retail segment consists of Company-owned stores and includes the revenues, expenses, assets and liabilities (including real estate) and capital expenditures directly related to these stores.

●

Investments and Real Estate. Our investments and real estate segment consists of our short-term investments, our holdings of real estate leased or previously leased as licensee stores, and our equity investment in Zenith. We also hold an investment in Fortress, which we fully reserved during the first quarter of 2012. Although this segment does not have operating earnings, income or loss from the segment is included in other income (loss), net, in our consolidated statements of income.

Inter-company net sales elimination represents the elimination of wholesale sales to our Company-owned stores. Inter-company income elimination includes the embedded wholesale profit in the Company-owned store inventory that has not been realized. These profits will be recorded when merchandise is delivered to the retail consumer. The inter-company income elimination also includes rent paid by our retail stores occupying Company-owned real estate.

The following table presents segment information for each of the last three fiscal years:

	2014			2013			2012
Net Sales
Wholesale	$	223,993		$	215,451		$	185,187
Retail		216,631			199,380			171,633
Inter-company elimination		(99,886	)		(93,545	)		(87,148	)
Consolidated	$	340,738		$	321,286		$	269,672

Income (loss) from Operations
Wholesale	$	14,120		$	10,883		$	7,500
Retail		(528	)		(1,452	)		(2,067	)
Inter-company elimination		1,539			574			717
Restructuring and asset impairment charges
Wholesale		-			-			(588	)
Retail		-			-			(123	)
Lease exit costs		-			-			(359	)
Consolidated income (loss) from operations	$	15,131		$	10,005		$	5,080

Depreciation and Amortization
Wholesale	$	1,572		$	1,342		$	1,171
Retail		5,344			4,372			3,760
Investments and real estate		400			484			542
Consolidated	$	7,316		$	6,198		$	5,473

Capital Expenditures
Wholesale	$	4,527		$	3,839		$	3,092
Retail		13,836			10,846			5,898
Investments and real estate		-			-			10
Consolidated	$	18,363		$	14,685		$	9,000

Identifiable Assets
Wholesale	$	124,848		$	109,958		$	145,861
Retail		86,471			77,331			68,583
Investments and real estate		29,427			38,560			12,736
Consolidated	$	240,746		$	225,849		$	227,180

A breakdown of wholesale sales by product category for each of the last three fiscal years is provided below:

	2014		2013		2012

Wood		39%		41%		43%
Upholstery		61%		59%		57%
		100%		100%		100%

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Note 20 - Quarterly Results of Operations (Unaudited)

12 Months Ended

Nov. 29, 2014

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

20. Quarterly Results of Operations (unaudited)

	2014
	First Quarter (1)(2)		Second Quarter		Third Quarter		Fourth Quarter

Net sales	$	75,647	$	85,185	$	85,186	$	94,720
Gross profit		40,253		45,313		45,018		51,837
Net income		843		2,551		2,256		3,649
Basic earnings per share		0.08		0.24		0.22		0.35
Diluted earnings per share		0.08		0.24		0.21		0.35

	2013
	First Quarter (1)		Second Quarter		Third Quarter (3)		Fourth Quarter (4)

Net sales	$	79,849	$	81,223	$	77,152	$	83,062
Gross profit		41,360		41,826		38,723		44,085
Net income (loss)		980		1,953		556		1,607
Basic earnings (loss) per share		0.09		0.18		0.05		0.15
Diluted earnings (loss) per share		0.09		0.18		0.05		0.15

The first quarter of fiscal 2013 includes 14 weeks. All other quarters presented above for fiscal 2013 and 2012 consist of 13 week fiscal periods.

(1)

The first quarter of fiscal 2014 included 13 weeks as compared with 14 weeks for the first quarter of 2013. On an average weekly basis, net sales for the first quarter of fiscal 2014 were $5,819 per week as compared with $5,704 per week for the first quarter of fiscal 2013.

(2)

Includes $662 of income from death benefits from life insurance policies covering a former executive and a $140 gain from the partial liquidation of our investment in Fortress (see Note 7)

(3)

Includes $221 of tax benefit from the expiration of the statute of limitations on certain previously unrecognized tax benefits – see Note 11 for further information.

(4)

Includes $416 charge for impairment related to our investment property located in Henderson, Nevada. See Note 15 for further details

Note 21 - Subsequent Event

12 Months Ended

Nov. 29, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

21. Subsequent Event

On January 21, 2015 we announced our intention to acquire the remaining 51% of Zenith Freight Lines, LLC in a transaction that is expected to close during the first quarter of fiscal 2015. The purchase price is valued at $20,000 to be paid in increments of cash and Bassett common stock over a three year period. See Note 10 regarding our current 49% interest in Zenith.

Schedule II - Analysis of Valuation and Qualifying Accounts

12 Months Ended

Nov. 29, 2014

Valuation and Qualifying Accounts [Abstract]

Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

Bassett Furniture Industries, Incorporated

Schedule II

Analysis of Valuation and Qualifying Accounts

For the Years Ended November 29, 2014, November 30, 2013 and November 24, 2012

(amounts in thousands)

	Balance Beginning of Period		Additions Charged to Cost and Expenses			Deductions (1)			Other		Balance End of Period
For the Year Ended November 24, 2012:
Reserve deducted from assets to which it applies

Allowance for doubtful accounts	$	2,092	$	377		$	(680	)	$	-	$	1,789

Notes receivable valuation reserves	$	4,140	$	(1	)	$	-		$	-	$	4,139

Income tax valuation allowance	$	19,612	$	-		$	(18,704	)	$	-	$	908

For the Year Ended November 30, 2013:
Reserve deducted from assets to which it applies

Allowance for doubtful accounts	$	1,789	$	361		$	(543	)	$	-	$	1,607

Notes receivable valuation reserves	$	4,139	$	-		$	-		$	-	$	4,139

Income tax valuation allowance	$	908	$	136		$	-		$	-	$	1,044

For the Year Ended November 29, 2014:
Reserve deducted from assets to which it applies

Allowance for doubtful accounts	$	1,607	$	77		$	(435	)	$	-	$	1,249

Notes receivable valuation reserves	$	4,139	$	-		$	-		$	-	$	4,139

Income tax valuation allowance	$	1,044	$	-		$	(974	)	$	-	$	70

(1)	Deductions are for the purpose for which the reserve was created. Deductions from the income tax valuation allowance for the years ended November 24, 2012 and November 29, 2014 were due to the removal of the majority of our valuation allowance, resulting in a net tax benefit for the year.

Accounting Policies, by Policy (Policies)

12 Months Ended

Nov. 29, 2014

Accounting Policies [Abstract]

Receivables, Policy [Policy Text Block]

Accounts Receivable

	2014		2013
Portion of trade accounts receivable owed by licensees		46%		50%
Portion of allowance for doubtful accounts attributable to licensees		58%		64%

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Concentrations of Credit Risk and Major Customers

	2014		2013
Accounts receivable, net of allowances (Note 4)	$	15,228	$	16,080
Notes receivable, net of allowances		592		632
Contingent obligations under lease and loan guarantees, less amounts recognized (Note 17)		3,046		3,523
Total credit risk exposure related to customers	$	18,866	$	20,235

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation and Principles of Consolidation

For comparative purposes, certain amounts in the 2013 and 2012 financial statements have been reclassified to conform to the 2014 presentation.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash Equivalents

Inventory, Policy [Policy Text Block]

Inventories

Property, Plant and Equipment, Policy [Policy Text Block]

Property and Equipment

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

Goodwill

Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]

Impairment of Long Lived Assets

Income Tax, Policy [Policy Text Block]

Income Taxes

The Company’s fiscal 2013 and 2012 income tax returns are currently under examination by the IRS.

New Store Pre-Opening Costs [Policy Text Block]

New Store Pre-Opening Costs

Shipping and Handling Cost, Policy [Policy Text Block]

Shipping and Handling Costs

Advertising Costs, Policy [Policy Text Block]

Advertising

Liability Reserve Estimate, Policy [Policy Text Block]

Insurance Reserves

Supplemental Cash Flow Information [Policy Text Block]

Supplemental Cash Flow Information

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

Note 2 - Significant Accounting Policies (Tables)

12 Months Ended

Nov. 29, 2014

Accounting Policies [Abstract]

Percentages of Trade Accounts Receivable and Allowance of Doubtful Accounts Attributable to Licensees [Table Text Block]

	2014		2013
Portion of trade accounts receivable owed by licensees		46%		50%
Portion of allowance for doubtful accounts attributable to licensees		58%		64%

Schedule of Aggregate Exposure from Receivables and Guarantees Related to Customers [Table Text Block]

	2014		2013
Accounts receivable, net of allowances (Note 4)	$	15,228	$	16,080
Notes receivable, net of allowances		592		632
Contingent obligations under lease and loan guarantees, less amounts recognized (Note 17)		3,046		3,523
Total credit risk exposure related to customers	$	18,866	$	20,235

Note 3 - Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Nov. 29, 2014

Disclosure Text Block [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Balance at November 24, 2012	$	(1,223	)
Actuarial losses		(434	)
Net pension amortization reclassified from accumulated other comprehensive loss		124
Tax effects		119
Balance at November 30, 2013		(1,414	)
Actuarial losses		(1,084	)
Net pension amortization reclassified from accumulated other comprehensive loss		166
Tax effects		358
Balance at November 29, 2014	$	(1,974	)

Note 4 - Accounts Receivable (Tables)

12 Months Ended

Nov. 29, 2014

Receivables [Abstract]

Schedule of Accounts Receivable [Table Text Block]

	November 29, 2014			November 30, 2013
Gross accounts receivable	$	16,477		$	17,687
Allowance for doubtful accounts		(1,249	)		(1,607	)
Net accounts receivable	$	15,228		$	16,080

Schedule of Credit Losses for Financing Receivables, Current [Table Text Block]

	2014			2013

Balance, beginning of the year	$	1,607		$	1,789
Additions charged to expense		77			361
Write-offs		(435	)		(543	)
Balance, end of the year	$	1,249		$	1,607

Note 5 - Inventories (Tables)

12 Months Ended

Nov. 29, 2014

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

	November 29, 2014			November 30, 2013
Wholesale finished goods	$	31,399		$	28,450
Work in process		298			277
Raw materials and supplies		8,109			8,029
Retail merchandise		26,428			25,167
Total inventories on first-in, first-out method		66,234			61,923
LIFO adjustment		(7,550	)		(7,561	)
Reserve for excess and obsolete inventory		(1,412	)		(1,293	)
	$	57,272		$	53,069

Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment [Table Text Block]

	Wholesale Segment			Retail Segment			Total
Balance at November 26, 2012	$	715		$	374		$	1,089
Additions charged to expense		2,309			383			2,692
Write-offs		(2,023	)		(465	)		(2,488	)
Balance at November 24, 2013		1,001			292			1,293
Additions charged to expense		1,666			331			1,997
Write-offs		(1,607	)		(271	)		(1,878	)
Balance at November 30, 2014	$	1,060		$	352		$	1,412

Note 6 - Property and Equipment (Tables)

12 Months Ended

Nov. 29, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

	November 29, 2014			November 30, 2013
Land	$	11,371		$	11,371
Buildings and leasehold improvements		90,204			75,965
Machinery and equipment		70,184			67,183
		171,759			154,519
Less accumulated depreciation		(96,947	)		(90,248	)
	$	74,812		$	64,271

Summary of Depreciation Expense [Table Text Block]

	2014		2013		2012
Cost of goods sold (1)	$	542	$	595	$	619
Selling, general and adminstrative expenses (2)		6,814		5,279		4,508
Total depreciation expense included in income from operations	$	7,356	$	5,874	$	5,127

Note 9 - Licensee Acquisitions and Goodwill (Tables)

12 Months Ended

Nov. 29, 2014

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

	2012
Net assets acquired:
Inventory	$	1,480
Property and equipment/other		592
Goodwill		1,296
Customer deposits and other accrued expenses		(1,227	)

Total net assets acquired	$	2,141

Consideration given:
Accounts receivable	$	1,592
Cash		549

Total consideration	$	2,141

Note 10 - Unconsolidated Affiliated Companies (Tables)

12 Months Ended

Nov. 29, 2014

Zenith Freight Lines [Member]

Note 10 - Unconsolidated Affiliated Companies (Tables) [Line Items]

Equity Method Investments [Table Text Block]

		2014				2013				2012
Earnings recognized		$	661			$	770			$	347

Schedule of Escrow Receivable [Table Text Block]

	Total Escrow Receivable
Balance at November 26, 2011	$	6,106
Received in fiscal 2012		(1,410	)
Balance at November 24, 2012		4,696
Received in fiscal 2013		(2,348	)
Balance at November 30, 2013		2,348
Received in fiscal 2014		(2,348	)
Balance at November 29, 2014	$	-

Note 11 - Income Taxes (Tables)

12 Months Ended

Nov. 29, 2014

Valuation Allowance of Deferred Tax Assets [Member]

Note 11 - Income Taxes (Tables) [Line Items]

Summary of Valuation Allowance [Table Text Block]

	2014			2013		2012

Balance, beginning of the year	$	1,044		$	908	$	19,612
Additions charged to expense		-			136		-
Deductions reducing expense		(974	)		-		(18,704	)
Balance, end of the year	$	70		$	1,044	$	908

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2014			2013		2012
Current:
Federal	$	4,168		$	759	$	1,611
State		596			50		(487	)

Deferred:
Increase (decrease) in valuation allowance		(974	)		136		(18,704	)
Federalf		221			1,970		2,458
State		1,297			176		423
Total	$	5,308		$	3,091	$	(14,699	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	2014			2013			2012
Statutory federal income tax rate		35.0	%		34.0	%		35.0	%
Adjustments to state net operating loss carryforwards		3.3			-			-
Change in income tax valuation allowance		(3.7	)		1.7			(155.6	)
Change in income tax reserves		(1.7	)		0.1			(3.3	)
State income tax, net of federal benefit		4.9			3.7			1.5
Other		(1.5	)		(1.7	)		0.1
Effective income tax rate		36.3	%		37.8	%		(122.3	)%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	November 29, 2014			November 30, 2013
Deferred income tax assets:
Trade accounts receivable	$	483		$	618
Inventories		2,384			2,277
Property and equipment		-			756
Notes receivable		1,599			1,592
Retirement benefits		6,093			5,626
State net operating loss carryforwards		1,141			2,482
Unrealized loss from affiliates		595			988
Lease termination accruals		167			349
Net deferred rents		2,251			1,256
Other		1,699			1,142
Gross deferred income tax assets		16,412			17,086
Valuation allowance		(70	)		(1,044	)
Total deferred income tax assets		16,342			16,042

Deferred income tax liabilities:
Unrealized gains from affiliates		963			755
Property and equipment		282			-
Prepaid expenses and other		128			135

Total deferred income tax liabilities		1,373			890

Net deferred income tax assets	$	14,969		$	15,152

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

	2014			2013			2012
Balance, beginning of the year	$	1,497		$	1,228		$	1,502
Gross increases		-			401			10
Gross decreases due to settlements		(221	)		-			-
Gross decreases primarily due to the expiration of statutes		(40	)		(132	)		(284	)

Balance, end of the year	$	1,236		$	1,497		$	1,228

Note 12 - Real Estate Notes Payable and Bank Credit Facility (Tables)

12 Months Ended

Nov. 29, 2014

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

	November 29, 2014			November 30, 2013
Real estate notes payable	$	2,218		$	2,746
Current portion of real estate notes payable		(316	)		(279	)
	$	1,902		$	2,467

Schedule of Maturities of Long-term Debt [Table Text Block]

Fiscal 2015	$	316
Fiscal 2016		338
Fiscal 2017		361
Fiscal 2018		386
Fiscal 2019		413
Thereafter		404
	$	2,218

Note 13 - Post-Employment Benefit Obligations (Tables)

12 Months Ended

Nov. 29, 2014

Postemployment Benefits [Abstract]

Schedule of Changes in Projected Benefit Obligations [Table Text Block]

	2014			2013
Change in Benefit Obligation:
Projected benefit obligation at beginning of year	$	9,775		$	9,805
Service cost		78			71
Interest cost		373			350
Actuarial losses		1,084			434
Benefits paid		(934	)		(885	)
Projected benefit obligation at end of year	$	10,376		$	9,775

Accumulated Benefit Obligation	$	9,748		$	9,215

Discount rate used to value the ending benefit obligations:		3.75	%		4.00	%

Amounts recognized in the consolidated balance sheet:
Current liabilities	$	724		$	810
Noncurrent liabilities		9,652			8,965
	$	10,376		$	9,775
Amounts recognized in accumulated other comprehensive income:
Transition obligation	$	170		$	212
Actuarial loss		3,046			2,085
Net amount recognized	$	3,216		$	2,297

Total recognized in net periodic benefit cost and accumulated other comprehensive income:	$	1,535		$	855

Schedule of Net Benefit Costs [Table Text Block]

	2014		2013		2012

Components of Net Periodic Pension Cost:
Service cost	$	78	$	71	$	54
Interest cost		373		350		376
Amortization of transition obligation		42		42		42
Amortization of other loss		123		81		11

Net periodic pension cost	$	616	$	544	$	483

Schedule of Assumptions Used [Table Text Block]

Assumptions used to determine net periodic pension cost:
Discount rate	4.00	%	3.75	%	4.25	%
Increase in future compensation levels	3.00	%	3.00	%	3.00	%

Schedule of Expected Benefit Payments [Table Text Block]

Estimated Future Benefit Payments (with mortality):
Fiscal 2015	$	724
Fiscal 2016		695
Fiscal 2017		667
Fiscal 2018		639
Fiscal 2019		610
Fiscal 2020 through 2024		3,432

Note 14 - Capital Stock and Stock Compensation (Tables)

12 Months Ended

Nov. 29, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]

2014		2013		2012

$	951	$	728	$	636

Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]

	Number of Shares			Weighted Average Exercise Price Per Share

Outstanding at November 30, 2013		735,100		$	15.08
Granted		-			-
Exercised		(32,850	)		9.65
Forfeited/Expired		(265,000	)		20.92
Outstanding at November 29, 2014		437,250			11.94
Exercisable at November 29, 2014		414,500		$	12.16

Schedule of Nonvested Share Activity [Table Text Block]

	Number of Shares			Weighted Average Grant Date Fair Value Per Share

Non-vested options outstanding at November 30, 2013		86,500		$	6.31
Granted		-			-
Vested		(63,750	)		5.69
Forfeited/Expired		-			-
Non-vested options outstanding at November 29, 2014		22,750		$	8.04

	Number of Shares			Weighted Average Grant Date Fair Value Per Share

Non-vested restricted shares outstanding at November 30, 2013		165,893		$	12.23
Granted		66,339			14.21
Vested and released		(108,495	)		9.96
Forfeited		-			-
Non-vested restricted shares outstanding at November 29, 2014		123,737		$	15.28

Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]

			Options Outstanding						Options Exercisable
Range of Exercise Prices			Shares		Weighted Average Remaining Contractual Life (Years)		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
$3.23	-	$6.45		68,000		5.6	$	4.38		68,000	$	4.38
$6.45	-	$9.67		62,750		6.5		8.03		40,000		8.03
$9.68	-	$12.90		104,000		2.9		10.60		104,000		10.60
$12.91	-	$16.13		52,500		2.4		14.73		52,500		14.89
$16.14	-	$19.35		150,000		1.6		16.96		150,000		16.96
				437,250						414,500

Aggregate intrinsic value			$	3,349					$	3,084

Schedule of Share-based Compensation, Activity [Table Text Block]

	2014		2013		2012
Total intrinsic value of options exercised	$	236	$	387	$	530
Total fair value of options vested		200		363		371
Total cash received from the exercise of options		382		413		536
Excess tax benefits recognized as additional paid-in capital upon the exercise of options		72		106		-

Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block]

					Remaining
	Restricted		Share Value		Restriction
Grant	Shares		at Grant Date		Period
Date	Granted		Per Share		(Years)

July 13, 2012		1,398	$	11.69		0.6
July 17, 2013		56,000		16.64		3.6
January 15, 2014		54,000		14.12		2.1
April 1, 2014		12,339		14.59		0.3
		123,737

Note 15 - Restructuring, Asset Impairment, and Other Charges (Tables)

12 Months Ended

Nov. 29, 2014

Disclosure Text Block Supplement [Abstract]

Restructuring and Related Costs [Table Text Block]

Restructuring and asset impairment charges:
Asset impairment charges related to Company-owned retail store closures	$	123
Asset impairment charges & demolition costs associated with closed plants		588
Total restructuring and asset impairment charges	$	711

Lease exit costs
Lease exit costs related to Company-owned retail store closures	$	228
Changes in estimates related to previously closed Company-owned retail stores		131
Total lease exit costs	$	359
Total charges related to restructuring, asset impairment, lease exit costs and debt cancellation included in loss from operations	$	1,070

Schedule of Activity Related to Accrued Lease Exit Costs [Table Text Block]

	2014			2013

Balance, beginning of the year	$	907		$	2,614
Provisions made to adjust previous estimates		14			(176	)
Payments on unexpired leases		(510	)		(1,610	)
Accretion of interest on obligations		22			79

Balance, end of the year	$	433		$	907

Current portion included in other accrued liabilities	$	117		$	474
Long-term portion included in other long-term liabilities		316			433
	$	433		$	907

Note 17 - Leases and Lease Guarantees (Tables)

12 Months Ended

Nov. 29, 2014

Leases Lease Guarantees And Loan Guarantees [Abstract]

Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]

Fiscal 2015	$	18,243
Fiscal 2016		15,713
Fiscal 2017		13,194
Fiscal 2018		10,778
Fiscal 2019		8,984
Thereafter		25,646
	$	92,558

Schedule of Future Rental Income [Table Text Block]

Fiscal 2015	$	2,688
Fiscal 2016		1,781
Fiscal 2017		1,406
Fiscal 2018		869
Fiscal 2019		252
Thereafter		132
	$	7,128

Note 18 - Earnings Per Share (Tables)

12 Months Ended

Nov. 29, 2014

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	2014		2013		2012
Numerator:
Net income	$	9,299	$	5,096	$	26,713

Denominator:
Denominator for basic income per share - weighted average shares		10,552,462		10,721,652		10,992,017
Effect of dilutive securities		140,569		150,897		103,394
Denominator for diluted income per share — weighted average shares and assumed conversions		10,693,031		10,872,549		11,095,411

Basic income per share:
Net income per share — basic	$	0.88	$	0.48	$	2.43

Diluted income per share:
Net income per share — diluted	$	0.87	$	0.47	$	2.41

	2014		2013		2012
Stock options		150,000		472,500		622,500
Unvested restricted shares		-		81,295		12,582

Total anti-dilutive securities		150,000		553,795		635,082

Note 19 - Segment Information (Tables)

12 Months Ended

Nov. 29, 2014

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	2014			2013			2012
Net Sales
Wholesale	$	223,993		$	215,451		$	185,187
Retail		216,631			199,380			171,633
Inter-company elimination		(99,886	)		(93,545	)		(87,148	)
Consolidated	$	340,738		$	321,286		$	269,672

Income (loss) from Operations
Wholesale	$	14,120		$	10,883		$	7,500
Retail		(528	)		(1,452	)		(2,067	)
Inter-company elimination		1,539			574			717
Restructuring and asset impairment charges
Wholesale		-			-			(588	)
Retail		-			-			(123	)
Lease exit costs		-			-			(359	)
Consolidated income (loss) from operations	$	15,131		$	10,005		$	5,080

Depreciation and Amortization
Wholesale	$	1,572		$	1,342		$	1,171
Retail		5,344			4,372			3,760
Investments and real estate		400			484			542
Consolidated	$	7,316		$	6,198		$	5,473

Capital Expenditures
Wholesale	$	4,527		$	3,839		$	3,092
Retail		13,836			10,846			5,898
Investments and real estate		-			-			10
Consolidated	$	18,363		$	14,685		$	9,000

Identifiable Assets
Wholesale	$	124,848		$	109,958		$	145,861
Retail		86,471			77,331			68,583
Investments and real estate		29,427			38,560			12,736
Consolidated	$	240,746		$	225,849		$	227,180

Schedule of Breakdown of Wholesale Sales by Product Category [Table Text Block]

	2014		2013		2012

Wood		39%		41%		43%
Upholstery		61%		59%		57%
		100%		100%		100%

Note 20 - Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

Nov. 29, 2014

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information [Table Text Block]

	2014
	First Quarter (1)(2)		Second Quarter		Third Quarter		Fourth Quarter

Net sales	$	75,647	$	85,185	$	85,186	$	94,720
Gross profit		40,253		45,313		45,018		51,837
Net income		843		2,551		2,256		3,649
Basic earnings per share		0.08		0.24		0.22		0.35
Diluted earnings per share		0.08		0.24		0.21		0.35

	2013
	First Quarter (1)		Second Quarter		Third Quarter (3)		Fourth Quarter (4)

Net sales	$	79,849	$	81,223	$	77,152	$	83,062
Gross profit		41,360		41,826		38,723		44,085
Net income (loss)		980		1,953		556		1,607
Basic earnings (loss) per share		0.09		0.18		0.05		0.15
Diluted earnings (loss) per share		0.09		0.18		0.05		0.15

Note 1 - Description of Business (Details)	Nov. 29, 2014
Company-owned Retail Stores [Member]
Note 1 - Description of Business (Details) [Line Items]
Number of Stores	60
Licensee Operated Retail Stores [Member]
Note 1 - Description of Business (Details) [Line Items]
Number of Stores	34
Number of Stores	94
Percent of Wholesale Products Sourced from Other Countries	42.00%
Number of Domestic Manufacturing Facilities	2

Note 2 - Significant Accounting Policies (Details) - USD ($)	3 Months Ended		12 Months Ended
	Aug. 30, 2014	Mar. 01, 2014	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Export Sales [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Revenues			$ 4,774,000	$ 4,603,000	$ 4,596,000
Building and Building Improvements [Member] \| Minimum [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life			10 years
Building and Building Improvements [Member] \| Maximum [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life			39 years
Machinery and Equipment [Member] \| Minimum [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life			5 years
Machinery and Equipment [Member] \| Maximum [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life			10 years
Retail Buildings and Improvements [Member] \| Minimum [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life			10 years
Retail Buildings and Improvements [Member] \| Maximum [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Property, Plant and Equipment, Useful Life			39 years
Retail Real Estate [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Land			$ 1,990,000	3,502,000
Buildings and Improvements, Gross			8,831,000	11,635,000
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment			4,631,000	4,834,000
Depreciation			$ 400,000	484,000	501,000
Asset Impairment Charges				416,000
Minimum [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Payment Terms for Wholesale Customers			30 days
Maximum [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Payment Terms for Wholesale Customers			60 days
Deliver Wholesale Merchandise to Customers [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Shipping, Handling and Transportation Costs			$ 16,162,000	15,685,000	13,548,000
Deliver Retail Merchandise to Customers [Member]
Note 2 - Significant Accounting Policies (Details) [Line Items]
Shipping, Handling and Transportation Costs			$ 12,844,000	$ 10,855,000	9,957,000
Percent of Aggregate Risk Exposure Net of Reserves Attributable to Major Licensees			24.00%	27.00%
Number of Major Licensees			2	2
Percentage of LIFO Inventory			40.00%	40.00%
Land			$ 11,371,000	$ 11,371,000
Buildings and Improvements, Gross			90,204,000	75,965,000
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment			96,947,000	90,248,000
Proceeds from Sale of Real Estate	$ 3,750,000	$ 1,407,000	5,157,000
Asset Impairment Charges			0
Pre-Opening Costs			1,217,000	671,000	371,000
Advertising Expense			$ 15,614,000	$ 14,750,000	13,296,000
Non-cash Consideration Given for Store Acquisition					$ 1,592,000

Note 2 - Significant Accounting Policies (Details) - Percentages of Trade Accounts Receivable and Related Allowance for Doubtful Accounts Due from Licensees	Nov. 29, 2014	Nov. 30, 2013
Percentages of Trade Accounts Receivable and Related Allowance for Doubtful Accounts Due from Licensees [Abstract]
Portion of trade accounts receivable owed by licensees	46.00%	50.00%
Portion of allowance for doubtful accounts attributable to licensees	58.00%	64.00%

Note 2 - Significant Accounting Policies (Details) - Aggregate Exposure from Receivables and Guarantees Related to Customers - USD ($) $ in Thousands	Nov. 29, 2014	Nov. 30, 2013
Aggregate Exposure from Receivables and Guarantees Related to Customers [Abstract]
Accounts receivable, net of allowances (Note 4)	$ 15,228	$ 16,080
Notes receivable, net of allowances	592	632
Contingent obligations under lease and loan guarantees, less amounts recognized (Note 17)	3,046	3,523
Total credit risk exposure related to customers	$ 18,866	$ 20,235

Note 3 - Accumulated Other Comprehensive Loss (Details) - Activity in Accumulated Other Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance	$ (1,974)	$ (1,414)
Changes before reclassifications	(1,084)	(434)
Amounts reclassified from accumulated other comprehensive loss	166	124
Tax effect	358	119
Balance	$ (1,974)	$ (1,414)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Note 4 - Accounts Receivable (Details) - Accounts Receivable - USD ($) $ in Thousands	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Accounts Receivable [Abstract]
Gross accounts receivable	$ 16,477	$ 17,687
Allowance for doubtful accounts	(1,249)	(1,607)	$ (1,789)
Net accounts receivable	$ 15,228	$ 16,080

Note 4 - Accounts Receivable (Details) - Activity in Allowance for Doubtful Accounts - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013
Activity in Allowance for Doubtful Accounts [Abstract]
Balance, beginning of the year	$ 1,607	$ 1,789
Additions charged to expense	77	361
Write-offs	(435)	(543)
Balance, end of the year	$ 1,249	$ 1,607

Note 5 - Inventories (Details) - USD ($) $ in Thousands	12 Months Ended
Note 5 - Inventories (Details) - USD ($) $ in Thousands	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Inventory Disclosure [Abstract]
Purchases from Major Vendors	$ 26,707	$ 24,217	$ 23,416

Note 5 - Inventories (Details) - Inventories - USD ($) $ in Thousands	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Inventories [Abstract]
Wholesale finished goods	$ 31,399	$ 28,450
Work in process	298	277
Raw materials and supplies	8,109	8,029
Retail merchandise	26,428	25,167
Total inventories on first-in, first-out method	66,234	61,923
LIFO adjustment	(7,550)	(7,561)
Reserve for excess and obsolete inventory	(1,412)	(1,293)	$ (1,089)
	$ 57,272	$ 53,069

Note 5 - Inventories (Details) - Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013
Wholesale Segment [Member] \| Operating Segments [Member]
Note 5 - Inventories (Details) - Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment [Line Items]
Balance	$ 1,060	$ 1,001
Additions charged to expense	1,666	2,309
Write-offs	(1,607)	(2,023)
Retail Segment [Member] \| Operating Segments [Member]
Note 5 - Inventories (Details) - Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment [Line Items]
Balance	352	292
Additions charged to expense	331	383
Write-offs	(271)	(465)
Balance	1,412	1,293
Additions charged to expense	1,997	2,692
Write-offs	$ (1,878)	$ (2,488)

Note 6 - Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Retail Segment [Member]
Note 6 - Property and Equipment (Details) [Line Items]
Depreciation	$ 5,782	$ 4,531	$ 3,955
Company-owned Retail Stores [Member]
Note 6 - Property and Equipment (Details) [Line Items]
Property, Plant and Equipment, Net	59,879	51,748
Property, Plant and Equipment, Net	$ 74,812	$ 64,271

Note 6 - Property and Equipment (Details) - Property and Equipment - USD ($) $ in Thousands	Nov. 29, 2014	Nov. 30, 2013
Property and Equipment [Abstract]
Land	$ 11,371	$ 11,371
Buildings and leasehold improvements	90,204	75,965
Machinery and equipment	70,184	67,183
	171,759	154,519
Less accumulated depreciation	(96,947)	(90,248)
	$ 74,812	$ 64,271

Note 6 - Property and Equipment (Details) - Summary of Depreciation Expense - USD ($)
$ in Thousands

12 Months Ended

Nov. 29, 2014

Nov. 30, 2013

Nov. 24, 2012

Cost of Sales [Member]

Note 6 - Property and Equipment (Details) - Summary of Depreciation Expense [Line Items]

Depreciation expense

^[1]

$ 542

$ 595

$ 619

Selling, General and Administrative Expenses [Member]

Note 6 - Property and Equipment (Details) - Summary of Depreciation Expense [Line Items]

Depreciation expense

^[2]

6,814

5,279

4,508

Depreciation expense

$ 7,356

$ 5,874

$ 5,127

[1]	All associated with our wholesale segment for fiscal 2014, 2013 and 2012.
[2]	Includes depreciation associated with our retail segment of $5,782, $4,531 and $3,955 for fiscal 2014. 2013 and 2012. respectively.

Note 7 - Financial Instruments, Investments and Fair Value Measurements (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 24, 2012
Fortress [Member]
Note 7 - Financial Instruments, Investments and Fair Value Measurements (Details) [Line Items]
Gain (Loss) on Investments	$ 280
Minimum [Member]
Note 7 - Financial Instruments, Investments and Fair Value Measurements (Details) [Line Items]
Maturity of Time Deposits	6 months
Weighted Average Rate Domestic Deposit, Certificates of Deposit	0.10%
Maximum [Member]
Note 7 - Financial Instruments, Investments and Fair Value Measurements (Details) [Line Items]
Maturity of Time Deposits	12 months
Weighted Average Rate Domestic Deposit, Certificates of Deposit	0.91%
Weighted Average [Member]
Note 7 - Financial Instruments, Investments and Fair Value Measurements (Details) [Line Items]
Maturity of Time Deposits	5 months
Weighted Average Rate Domestic Deposit, Certificates of Deposit	0.21%
Marketable Securities, Gain (Loss), Excluding Other than Temporary Impairments		$ 313
Marketable Securities, Realized Gain (Loss), Excluding Other than Temporary Impairments		453
Gain Loss Previously Included in Other Comprehensive Income		$ 208

Note 8 - Income from the Continued Dumping and Subsidy Offset Act (Details) $ in Thousands	12 Months Ended
	Nov. 24, 2012 USD ($)
Income From Continued Dumping And Subsidy Offset Act [Abstract]
Income from Continued Dumping and Subsidy Offset Act	$ 9,010

Note 9 - Licensee Acquisitions and Goodwill (Details) $ in Thousands	12 Months Ended
	Nov. 29, 2014 USD ($)	Nov. 30, 2013 USD ($)	Nov. 24, 2012 USD ($)
Wholesale Segment [Member]
Note 9 - Licensee Acquisitions and Goodwill (Details) [Line Items]
Goodwill	$ 1,129
Retail Segment [Member]
Note 9 - Licensee Acquisitions and Goodwill (Details) [Line Items]
Goodwill	602
Knoxville [Member] \| Cash [Member]
Note 9 - Licensee Acquisitions and Goodwill (Details) [Line Items]
Payments to Acquire Businesses, Gross			$ 485
Knoxville [Member] \| Accounts Receivable [Member]
Note 9 - Licensee Acquisitions and Goodwill (Details) [Line Items]
Payments to Acquire Businesses, Gross			$ 188
Knoxville [Member]
Note 9 - Licensee Acquisitions and Goodwill (Details) [Line Items]
Number of Stores Acquired			1
Payments to Acquire Businesses, Gross			$ 673
Goodwill, Acquired During Period			375
Orange County [Member] \| Cash [Member]
Note 9 - Licensee Acquisitions and Goodwill (Details) [Line Items]
Payments to Acquire Businesses, Gross			64
Orange County [Member] \| Accounts Receivable [Member]
Note 9 - Licensee Acquisitions and Goodwill (Details) [Line Items]
Payments to Acquire Businesses, Gross			$ 1,404
Orange County [Member]
Note 9 - Licensee Acquisitions and Goodwill (Details) [Line Items]
Number of Stores Acquired			2
Payments to Acquire Businesses, Gross			$ 1,468
Goodwill, Acquired During Period			921
Retail Stores Acquired [Member]
Note 9 - Licensee Acquisitions and Goodwill (Details) [Line Items]
Revenue, Net			1,646
Operating Income (Loss)			(62)
Operating Income (Loss)	15,131	$ 10,005	$ 5,080
Goodwill	$ 1,731	$ 1,731

Note 9 - Licensee Acquisitions and Goodwill (Details) - Net Assets Acquired and Consideration Given - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2012	Nov. 29, 2014	Nov. 30, 2013
Licensee Acquisitions [Member] \| Accounts Receivable [Member]
Consideration given:
Consideration given	$ 1,592
Licensee Acquisitions [Member] \| Cash [Member]
Consideration given:
Consideration given	549
Licensee Acquisitions [Member]
Note 9 - Licensee Acquisitions and Goodwill (Details) - Net Assets Acquired and Consideration Given [Line Items]
Inventory	1,480
Property and equipment/other	592
Goodwill	1,296
Customer deposits and other accrued expenses	(1,227)
Total net assets acquired	2,141
Consideration given:
Consideration given	$ 2,141
Goodwill		$ 1,731	$ 1,731

Note 10 - Unconsolidated Affiliated Companies (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012	May 02, 2011
IHFC [Member]
Note 10 - Unconsolidated Affiliated Companies (Details) [Line Items]
Indemnification Escrow Receivable Current Asset				$ 6,106
Zenith Freight Lines [Member]
Note 10 - Unconsolidated Affiliated Companies (Details) [Line Items]
Equity Method Investment, Ownership Percentage	49.00%
Equity Method Investments	$ 7,915	$ 7,254
Shipping, Handling and Transportation Costs	31,308	29,313	$ 25,317
Due to Affiliate	$ 2,628	2,580
Indemnification Escrow Receivable Current Asset		$ 2,348
Cost Method Investments				$ 1,000

- Definition

Amount of payable due to an entity that is affiliated with the reporting entity by means of direct or indirect ownership.

+ References + Details

Note 10 - Unconsolidated Affiliated Companies (Details) - Income - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Earnings Recognized [Member] \| Zenith Freight Lines [Member]
Schedule of Equity Method Investments [Line Items]
Earnings recognized	$ 661	$ 770	$ 347
Earnings recognized	$ 661	$ 770	$ 347

Note 10 - Unconsolidated Affiliated Companies (Details) - Escrow Receivable - IHFC [Member] - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Note 10 - Unconsolidated Affiliated Companies (Details) - Escrow Receivable [Line Items]
Balance	$ 0	$ 2,348	$ 4,696
Received	$ (2,348)	$ (2,348)	$ (1,410)

Note 11 - Income Taxes (Details) - USD ($)	12 Months Ended
Note 11 - Income Taxes (Details) - USD ($)	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012	Nov. 26, 2011
State and Local Jurisdiction [Member]
Note 11 - Income Taxes (Details) [Line Items]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ (974,000)
Deferred Tax Assets, Valuation Allowance		$ 1,044,000
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	22,439,000
Other Current Liabilities [Member]
Note 11 - Income Taxes (Details) [Line Items]
Liability for Uncertain Tax Positions, Current	1,370,000
Other Noncurrent Liabilities [Member]
Note 11 - Income Taxes (Details) [Line Items]
Liability for Uncertain Tax Positions, Noncurrent		1,647,000
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation	300,000	313,000
Years Company Remained in Cumulative Loss Position				3 years
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 974,000	(136,000)	$ 18,704,000	$ 17,464
Effect of Change in Deferred Tax Assets Valuation Allowance on Basic Earnings Per Share (in Dollars per share)	$ 0.09		$ 1.70
Effect of Change in Deferred Tax Assets Valuation Allowance on Diluted Earnings Per Share (in Dollars per share)			$ 1.69
Deferred Tax Assets, Valuation Allowance	$ 70,000	1,044,000
Income Taxes Paid, Net	2,367,000	2,723,000	$ 2,010,000
Unrecognized Tax Benefits, Excluding Interest and Penalties	1,236,000	1,497,000
Unrecognized Tax Benefits that Would Impact Effective Tax Rate		239,000
Unrecognized Tax Benefits Interest Expense Recovery	7,000	23,000	63,000
Unrecognized Tax Benefits Income Tax Penalties Expense Recovery	10,000	31,000	$ 57,000
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	134,000	140,000
Unrecognized Tax Benefits, Income Tax Penalties Accrued	$ 0	$ 10,000

Note 11 - Income Taxes (Details) - Components of Income Tax Provision (Benefit) - USD ($)	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012	Nov. 26, 2011
Current:
Federal	$ 4,168,000	$ 759,000	$ 1,611,000
State	596,000	50,000	(487,000)
Deferred:
Increase (decrease) in valuation allowance	(974,000)	136,000	(18,704,000)	$ (17,464)
Federalf	221,000	1,970,000	2,458,000
State	1,297,000	176,000	423,000
Total	$ 5,308,000	$ 3,091,000	$ (14,699,000)

Note 11 - Income Taxes (Details) - Reconciliation of Statutory Federal Income Tax Rate and Effective Income Tax Rate	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Reconciliation of Statutory Federal Income Tax Rate and Effective Income Tax Rate [Abstract]
Statutory federal income tax rate	35.00%	34.00%	35.00%
Adjustments to state net operating loss carryforwards	3.30%
Change in income tax valuation allowance	(3.70%)	1.70%	(155.60%)
Change in income tax reserves	(1.70%)	0.10%	(3.30%)
State income tax, net of federal benefit	4.90%	3.70%	1.50%
Other	(1.50%)	(1.70%)	0.10%
Effective income tax rate	36.30%	37.80%	(122.30%)

Note 11 - Income Taxes (Details) - Income Tax Effects of Temporary Differences and Carryforwards - USD ($) $ in Thousands	Nov. 29, 2014	Nov. 30, 2013
Deferred income tax assets:
Trade accounts receivable	$ 483	$ 618
Inventories	2,384	2,277
Property and equipment		756
Notes receivable	1,599	1,592
Retirement benefits	6,093	5,626
State net operating loss carryforwards	1,141	2,482
Unrealized loss from affiliates	595	988
Lease termination accruals	167	349
Net deferred rents	2,251	1,256
Other	1,699	1,142
Gross deferred income tax assets	16,412	17,086
Valuation allowance	(70)	(1,044)
Total deferred income tax assets	16,342	16,042
Deferred income tax liabilities:
Unrealized gains from affiliates	963	755
Property and equipment	282
Prepaid expenses and other	128	135
Total deferred income tax liabilities	1,373	890
Net deferred income tax assets	$ 14,969	$ 15,152

Note 11 - Income Taxes (Details) - Summary of Valuation Allowances Against Deferred Tax Assets - Valuation Allowance of Deferred Tax Assets [Member] - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Valuation Allowance [Line Items]
Balance	$ 1,044	$ 908	$ 19,612
Additions charged to expense		136
Deductions reducing expense	(974)		(18,704)
Balance	$ 70	$ 1,044	$ 908

Note 11 - Income Taxes (Details) - Activity Related to Gross Unrecognized Tax Benefits - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Aug. 31, 2013	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Activity Related to Gross Unrecognized Tax Benefits [Abstract]
Balance, beginning of the year		$ 1,497	$ 1,228	$ 1,502
Balance, end of the year		1,236	1,497	1,228
Gross increases			401	10
Gross decreases due to settlements		(221)
Gross decreases primarily due to the expiration of statutes	$ (221)	$ (40)	$ (132)	$ (284)

Note 12 - Real Estate Notes Payable and Bank Credit Facility (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012	Dec. 18, 2012
Financed Through Commercial Mortgages [Member]
Note 12 - Real Estate Notes Payable and Bank Credit Facility (Details) [Line Items]
Real Estate Investment Property, Net	$ 6,127	$ 6,262
Debt Instrument, Interest Rate, Stated Percentage			6.73%
Real Estate Investment Property, Net	6,302	10,435
Secured Debt, Current	316	279
Secured Long-term Debt, Noncurrent	1,902	2,467
Loans Payable, Fair Value Disclosure	2,196	2,684
Line of Credit Facility, Maximum Borrowing Capacity				$ 15,000
Letters of Credit Outstanding, Amount	216
Line of Credit Facility, Remaining Borrowing Capacity	14,784
Interest Paid	$ 176	$ 244	$ 294

Note 12 - Real Estate Notes Payable and Bank Credit Facility (Details) - Real Estate Notes Payable and Bank Debt - USD ($) $ in Thousands	Nov. 29, 2014	Nov. 30, 2013
Real Estate Notes Payable and Bank Debt [Abstract]
Real estate notes payable	$ 2,218	$ 2,746
Current portion of real estate notes payable	(316)	(279)
	$ 1,902	$ 2,467

Note 12 - Real Estate Notes Payable and Bank Credit Facility (Details) - Maturities of Real Estate Notes Payable $ in Thousands	Nov. 29, 2014 USD ($)
Maturities of Real Estate Notes Payable [Abstract]
Fiscal 2015	$ 316
Fiscal 2016	338
Fiscal 2017	361
Fiscal 2018	386
Fiscal 2019	413
Thereafter	404
	$ 2,218

Note 13 - Post-Employment Benefit Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Payment over 120 Months [Member]
Note 13 - Post-Employment Benefit Obligations (Details) [Line Items]
Death Benefit Percent of Final Average Annual Compensation	50.00%
A Single Payment [Member]
Note 13 - Post-Employment Benefit Obligations (Details) [Line Items]
Death Benefit Percent of Final Average Annual Compensation	200.00%
Unfunded Deferred Compensation Plan [Member]
Note 13 - Post-Employment Benefit Obligations (Details) [Line Items]
Postemployment Benefits Liability, Noncurrent	$ 2,174	$ 2,555
Percent of Final Average Compensation Provided by Supplemental Retirement Income Plan	65.00%
Death Benefit Payment Term	120 months
Current Net Death Benefit	$ 3,148
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax	3,216	2,297
Defined Benefit Plan, Future Amortization of Transition Obligation (Asset)	42
Defined Benefit Plan, Future Amortization of Gain (Loss)	(194)
Pension Expense	134	288	$ 312
Increase (Decrease) in Deferred Compensation	124
Postemployment Benefits Liability, Noncurrent	$ 11,498	11,146
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	15.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	8.00%
Defined Contribution Plan, Cost Recognized	$ 397	$ 340	$ 175

Note 13 - Post-Employment Benefit Obligations (Details) - Plan Summary - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Change in Benefit Obligation:
Projected benefit obligation at beginning of year	$ 9,775	$ 9,805
Projected benefit obligation at end of year	10,376	9,775	$ 9,805
Service cost	78	71	54
Interest cost	373	350	$ 376
Actuarial losses	1,084	434
Benefits paid	(934)	(885)
Accumulated Benefit Obligation	$ 9,748	$ 9,215
Discount rate used to value the ending benefit obligations:	3.75%	4.00%
Amounts recognized in the consolidated balance sheet:
Current liabilities	$ 724	$ 810
Noncurrent liabilities	9,652	8,965
	10,376	9,775
Amounts recognized in accumulated other comprehensive income:
Transition obligation	170	212
Actuarial loss	3,046	2,085
Net amount recognized	3,216	2,297
Total recognized in net periodic benefit cost and accumulated other comprehensive income:	$ 1,535	$ 855

Note 13 - Post-Employment Benefit Obligations (Details) - Components of Net Periodic Pension Cost - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Components of Net Periodic Pension Cost:
Service cost	$ 78	$ 71	$ 54
Interest cost	373	350	376
Amortization of transition obligation	42	42	42
Amortization of other loss	123	81	11
Net periodic pension cost	$ 616	$ 544	$ 483

Note 13 - Post-Employment Benefit Obligations (Details) - Assumptions Used to Determine Net Periodic Pension Cost	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Assumptions used to determine net periodic pension cost:
Discount rate	4.00%	3.75%	4.25%
Increase in future compensation levels	3.00%	3.00%	3.00%

Note 13 - Post-Employment Benefit Obligations (Details) - Estimated Future Benefit Payments $ in Thousands	Nov. 29, 2014 USD ($)
Estimated Future Benefit Payments (with mortality):
Fiscal 2015	$ 724
Fiscal 2016	695
Fiscal 2017	667
Fiscal 2018	639
Fiscal 2019	610
Fiscal 2020 through 2024	$ 3,432

Note 14 - Capital Stock and Stock Compensation (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Apr. 14, 2010	Dec. 31, 2000	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012	Dec. 31, 1997
Performance Shares [Member]
Note 14 - Capital Stock and Stock Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			54,000
Restricted Stock [Member] \| Employees [Member]
Note 14 - Capital Stock and Stock Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period			97,200
Shares Paid for Tax Withholding for Share Based Compensation			31,234	11,550
Payments Related to Tax Withholding for Share-based Compensation (in Dollars)			$ 489	$ 202
Restricted Stock [Member] \| Director [Member]
Note 14 - Capital Stock and Stock Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period			11,295
Restricted Stock [Member]
Note 14 - Capital Stock and Stock Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			12,399
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period			108,495
Proceeds and Excess Tax Benefit from Share-based Compensation (in Dollars)			$ 228	207
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition			4 years
Minimum [Member]
Note 14 - Capital Stock and Stock Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Maximum [Member]
Note 14 - Capital Stock and Stock Compensation (Details) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		3 years
Common Stock, Capital Shares Reserved for Future Issuance						950,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	500,000	500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant			500,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars)			$ 49
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			123,737
Payments Related to Tax Withholding for Share-based Compensation (in Dollars)			$ 489	$ 226	$ 16
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized (in Dollars)			$ 1,403
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent		85.00%
Stock Issued During Period, Shares, Employee Stock Purchase Plans			25,677	38,206	42,211

Note 14 - Capital Stock and Stock Compensation (Details) - Compensation Expense Related to Restricted Stock and Stock Options Included in Selling, General and Administrative Expenses - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
	$ 951	$ 728	$ 636

Note 14 - Capital Stock and Stock Compensation (Details) - Changes in Outstanding Options	12 Months Ended
	Nov. 29, 2014 $ / shares shares
Changes in Outstanding Options [Abstract]
Outstanding at November 30, 2013 \| shares	735,100
Outstanding at November 30, 2013 \| $ / shares	$ 15.08
Exercised \| shares	(32,850)
Exercised \| $ / shares	$ 9.65
Forfeited/Expired \| shares	(265,000)
Forfeited/Expired \| $ / shares	$ 20.92
Outstanding at November 29, 2014 \| shares	437,250
Outstanding at November 29, 2014 \| $ / shares	$ 11.94
Exercisable at November 29, 2014 \| shares	414,500
Exercisable at November 29, 2014 \| $ / shares	$ 12.16

Note 14 - Capital Stock and Stock Compensation (Details) - Changes in Non-vested Options - $ / shares	12 Months Ended
	Nov. 29, 2014	Nov. 29, 2014
Employee Stock Option [Member]
Note 14 - Capital Stock and Stock Compensation (Details) - Changes in Non-vested Options [Line Items]
Number of shares outstanding	86,500
Weighted average grant date fair value per share	$ 6.31
Number of shares vested	(63,750)
Weighted average grant date fair value per share, vested	$ 5.69
Number of shares outstanding	86,500	22,750
Weighted average grant date fair value per share	$ 8.04
Restricted Stock [Member]
Note 14 - Capital Stock and Stock Compensation (Details) - Changes in Non-vested Options [Line Items]
Number of shares outstanding	165,893
Weighted average grant date fair value per share	$ 12.23
Number of shares granted	66,339
Weighted average grant date fair value per share, granted	$ 14.21
Number of shares vested	(108,495)
Weighted average grant date fair value per share, vested	$ 9.96
Number of shares outstanding	165,893	123,737
Weighted average grant date fair value per share	$ 15.28

Note 14 - Capital Stock and Stock Compensation (Details) - Additional Information Regarding Outstanding Stock Options $ / shares in Units, $ in Thousands	12 Months Ended
	Nov. 29, 2014 USD ($) $ / shares shares
Range of $3.23 - $6.45 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit	$ 3.23
Exercise price range, upper range limit	$ 6.45
Shares, Options outstanding (in Shares) \| shares	68,000
Weighted average remaining contractual life , Options outstanding	5 years 219 days
Weighted average exercise price, Options outstanding	$ 4.38
Shares, Options exercisable (in Shares) \| shares	68,000
Weighted average exercise price, Options exercisable	$ 4.38
Range of $6.45 - $9.67 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit	6.45
Exercise price range, upper range limit	$ 9.67
Shares, Options outstanding (in Shares) \| shares	62,750
Weighted average remaining contractual life , Options outstanding	6 years 6 months
Weighted average exercise price, Options outstanding	$ 8.03
Shares, Options exercisable (in Shares) \| shares	40,000
Weighted average exercise price, Options exercisable	$ 8.03
Range of $9.68 - $12.90 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit	9.68
Exercise price range, upper range limit	$ 12.90
Shares, Options outstanding (in Shares) \| shares	104,000
Weighted average remaining contractual life , Options outstanding	2 years 328 days
Weighted average exercise price, Options outstanding	$ 10.60
Shares, Options exercisable (in Shares) \| shares	104,000
Weighted average exercise price, Options exercisable	$ 10.60
Range of $12.91 - $16.13 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit	12.91
Exercise price range, upper range limit	$ 16.13
Shares, Options outstanding (in Shares) \| shares	52,500
Weighted average remaining contractual life , Options outstanding	2 years 146 days
Weighted average exercise price, Options outstanding	$ 14.73
Shares, Options exercisable (in Shares) \| shares	52,500
Weighted average exercise price, Options exercisable	$ 14.89
Range of $16.14 - $19.35 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Exercise price range, lower range limit	16.14
Exercise price range, upper range limit	$ 19.35
Shares, Options outstanding (in Shares) \| shares	150,000
Weighted average remaining contractual life , Options outstanding	1 year 219 days
Weighted average exercise price, Options outstanding	$ 16.96
Shares, Options exercisable (in Shares) \| shares	150,000
Weighted average exercise price, Options exercisable	$ 16.96
Shares, Options outstanding (in Shares) \| shares	437,250
Shares, Options exercisable (in Shares) \| shares	414,500
(in Dollars) \| $	$ 3,349
(in Dollars) \| $	3,349
(in Dollars) \| $	$ 3,084

Note 14 - Capital Stock and Stock Compensation (Details) - Additional Information Regarding Activity in Stock Options - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Employee Stock Option [Member]
Note 14 - Capital Stock and Stock Compensation (Details) - Additional Information Regarding Activity in Stock Options [Line Items]
Excess tax benefits recognized as additional paid-in capital upon the exercise of options	$ 72	$ 106
Total intrinsic value of options exercised	236	387	$ 530
Total fair value of options vested	200	363	371
Total cash received from the exercise of options	382	413	$ 536
Excess tax benefits recognized as additional paid-in capital upon the exercise of options	$ 300	$ 313

Note 14 - Capital Stock and Stock Compensation (Details) - Restricted Stock Awards - $ / shares					12 Months Ended
	Apr. 01, 2014	Jan. 15, 2014	Jul. 17, 2013	Jul. 13, 2012	Nov. 29, 2014
July 13, 2012 [Member]
Note 14 - Capital Stock and Stock Compensation (Details) - Restricted Stock Awards [Line Items]
Restricted shares granted				1,398
Share value at grant date per share (in Dollars per share)				$ 11.69
Restricted period (years)				219 days
July 17, 2013 [Member]
Note 14 - Capital Stock and Stock Compensation (Details) - Restricted Stock Awards [Line Items]
Restricted shares granted			56,000
Share value at grant date per share (in Dollars per share)			$ 16.64
Restricted period (years)			3 years 219 days
January 15, 2014 [Member]
Note 14 - Capital Stock and Stock Compensation (Details) - Restricted Stock Awards [Line Items]
Restricted shares granted		54,000
Share value at grant date per share (in Dollars per share)		$ 14.12
Restricted period (years)		2 years 36 days
April 1, 2014 [Member]
Note 14 - Capital Stock and Stock Compensation (Details) - Restricted Stock Awards [Line Items]
Restricted shares granted	12,339
Share value at grant date per share (in Dollars per share)	$ 14.59
Restricted period (years)	109 days
Restricted shares granted					123,737

Note 15 - Restructuring, Asset Impairment, and Other Charges (Details) $ in Thousands	12 Months Ended
	Nov. 24, 2012 USD ($)
Wholesale Segment [Member]
Note 15 - Restructuring, Asset Impairment, and Other Charges (Details) [Line Items]
Restructuring, Settlement and Impairment Provisions	$ 719
Retail Segment [Member]
Note 15 - Restructuring, Asset Impairment, and Other Charges (Details) [Line Items]
Restructuring, Settlement and Impairment Provisions	351
Demolition of Closed Facility [Member] \| Bassett [Member]
Note 15 - Restructuring, Asset Impairment, and Other Charges (Details) [Line Items]
Restructuring, Settlement and Impairment Provisions	203
Demolition of Closed Facility [Member]
Note 15 - Restructuring, Asset Impairment, and Other Charges (Details) [Line Items]
Restructuring, Settlement and Impairment Provisions	588
Write-down Of Closed Facility [Member] \| Mt. Airy [Member]
Note 15 - Restructuring, Asset Impairment, and Other Charges (Details) [Line Items]
Restructuring, Settlement and Impairment Provisions	385
Write-off of Leasehold Improvements [Member] \| Richmond [Member]
Note 15 - Restructuring, Asset Impairment, and Other Charges (Details) [Line Items]
Restructuring, Settlement and Impairment Provisions	123
Lease Exit [Member]
Note 15 - Restructuring, Asset Impairment, and Other Charges (Details) [Line Items]
Gain (Loss) on Contract Termination	(228)
Previously Closed Retail Locations [Member]
Note 15 - Restructuring, Asset Impairment, and Other Charges (Details) [Line Items]
Gain (Loss) on Contract Termination	(131)
Restructuring, Settlement and Impairment Provisions	711
Gain (Loss) on Contract Termination	$ (359)

Note 15 - Restructuring, Asset Impairment, and Other Charges (Details) - Restructuring, Asset Impairment and Other Charges $ in Thousands	12 Months Ended
	Nov. 24, 2012 USD ($)
Company-owned Retail Store Closures [Member]
Restructuring and asset impairment charges:
Restructuring and asset impairment charges	$ 123
Lease exit costs
Lease exit costs	131
Demolition of Closed Facility [Member]
Restructuring and asset impairment charges:
Restructuring and asset impairment charges	588
Lease Exit [Member]
Lease exit costs
Lease exit costs	228
Restructuring and asset impairment charges	711
Lease exit costs	359
Total charges related to restructuring, asset impairment, lease exit costs and debt cancellation included in loss from operations	$ 1,070

Note 15 - Restructuring, Asset Impairment, and Other Charges (Details) - Activity Related to Accrued Lease Exit Costs - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013
Activity Related to Accrued Lease Exit Costs [Abstract]
Balance, beginning of the year	$ 907	$ 2,614
Provisions made to adjust previous estimates	14	(176)
Payments on unexpired leases	(510)	(1,610)
Accretion of interest on obligations	22	79
Balance	433	907
Current portion included in other accrued liabilities	117	474
Long-term portion included in other long-term liabilities	$ 316	$ 433

Note 17 - Leases and Lease Guarantees (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Lease Obligations of Licensee Operators [Member]
Note 17 - Leases and Lease Guarantees (Details) [Line Items]
Loss Contingency, Estimate of Possible Loss	$ 3,164	$ 3,698
Minimum [Member]
Note 17 - Leases and Lease Guarantees (Details) [Line Items]
Operating Lease Lease Term	1 year
Renewal Term on Operating Lease	5 years
Lease Guarantees Term	1 year
Maximum [Member]
Note 17 - Leases and Lease Guarantees (Details) [Line Items]
Operating Lease Lease Term	15 years
Renewal Term on Operating Lease	15 years
Lease Guarantees Term	10 years
Operating Leases, Rent Expense	$ 19,903	18,403	$ 17,123
Real Estate Rental Income (Loss) Net of Expense	(248)	(594)	$ (468)
Loss Contingency, Estimate of Possible Loss	$ 3,046	$ 3,523

Note 17 - Leases and Lease Guarantees (Details) - Future Minimum Lease Payments under Non-cancelable Operating Leases $ in Thousands	Nov. 29, 2014 USD ($)
Future Minimum Lease Payments under Non-cancelable Operating Leases [Abstract]
Fiscal 2015	$ 18,243
Fiscal 2016	15,713
Fiscal 2017	13,194
Fiscal 2018	10,778
Fiscal 2019	8,984
Thereafter	25,646
	$ 92,558

Note 17 - Leases and Lease Guarantees (Details) - Minimum Future Rental Income $ in Thousands	Nov. 29, 2014 USD ($)
Minimum Future Rental Income [Abstract]
Fiscal 2015	$ 2,688
Fiscal 2016	1,781
Fiscal 2017	1,406
Fiscal 2018	869
Fiscal 2019	252
Thereafter	132
	$ 7,128

Note 18 - Earnings Per Share (Details) - Reconciliation of Basic and Diluted Loss Per Share - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Nov. 29, 2014

^[1]

Aug. 30, 2014

^[2]

May 31, 2014

Mar. 01, 2014

^[2],[3]

Nov. 30, 2013

^[4]

Aug. 31, 2013

^[1]

Jun. 01, 2013

Mar. 02, 2013

^[3]

Nov. 29, 2014

Nov. 30, 2013

Nov. 24, 2012

Equity Option [Member]

Diluted income per share:

Anti-dilutive securities

150,000

472,500

622,500

Restricted Stock [Member]

Diluted income per share:

Anti-dilutive securities

81,295

12,582

Net income (in Dollars)

$ 3,649

$ 2,256

$ 2,551

$ 843

$ 1,607

$ 556

$ 1,953

$ 980

$ 9,299

$ 5,096

$ 26,713

Denominator for basic income per share - weighted average shares

10,552,462

10,721,652

10,992,017

Effect of dilutive securities

140,569

150,897

103,394

Denominator for diluted income per share — weighted average shares and assumed conversions

10,693,031

10,872,549

11,095,411

Net income per share — basic (in Dollars per share)

$ 0.35

$ 0.22

$ 0.24

$ 0.08

$ 0.15

$ 0.05

$ 0.18

$ 0.09

$ 0.88

$ 0.48

$ 2.43

Net income per share — diluted (in Dollars per share)

$ 0.35

$ 0.21

$ 0.24

$ 0.08

$ 0.15

$ 0.05

$ 0.18

$ 0.09

$ 0.87

$ 0.47

$ 2.41

Anti-dilutive securities

150,000

553,795

635,082

[1]	Includes $221 of tax benefit from the expiration of the statute of limitations on certain previously unrecognized tax benefits - see Note 11 for further information.
[2]	Includes $662 of income from death benefits from life insurance policies covering a former executive and a $140 gain from the partial liquidation of our investment in Fortress (see Note 7)
[3]	The first quarter of fiscal 2014 included 13 weeks as compared with 14 weeks for the first quarter of 2013. On an average weekly basis, net sales for the first quarter of fiscal 2014 were $5,819 per week as compared with $5,704 per week for the first quarter of fiscal 2013.
[4]	Includes $416 charge for impairment related to our investment property located in Henderson, Nevada. See Note 15 for further details

Note 19 - Segment Information (Details)	12 Months Ended
Note 19 - Segment Information (Details)	Nov. 29, 2014
Segment Reporting [Abstract]
Number of Reportable Segments	3

Note 19 - Segment Information (Details) - Segment Information for Each of Last Three Fiscal Years - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Nov. 29, 2014

Aug. 30, 2014

^[2]

May 31, 2014

Mar. 01, 2014

^[2],[3]

Nov. 30, 2013

Aug. 31, 2013

^[1]

Jun. 01, 2013

Mar. 02, 2013

^[3]

Nov. 29, 2014

Nov. 30, 2013

Nov. 24, 2012

Operating Segments [Member] | Wholesale Segment [Member]

Net Sales

Net sales

$ 223,993

$ 215,451

$ 185,187

Income (loss) from Operations

Income (loss) from operations

14,120

10,883

7,500

Restructuring and asset impairment charges

Restructuring and asset impairment charges

(588)

Depreciation and Amortization

Depreciation and amortization

1,572

1,342

1,171

Capital Expenditures

Capital expenditures

4,527

3,839

3,092

Identifiable Assets

Identifiable assets

$ 124,848

$ 109,958

124,848

109,958

145,861

Operating Segments [Member] | Retail Segment [Member]

Net Sales

Net sales

216,631

199,380

171,633

Income (loss) from Operations

Income (loss) from operations

(528)

(1,452)

(2,067)

Restructuring and asset impairment charges

Restructuring and asset impairment charges

(123)

Depreciation and Amortization

Depreciation and amortization

5,344

4,372

3,760

Capital Expenditures

Capital expenditures

13,836

10,846

5,898

Identifiable Assets

Identifiable assets

86,471

77,331

86,471

77,331

68,583

Operating Segments [Member] | Investments or Real Estate [Member]

Depreciation and Amortization

Depreciation and amortization

400

484

542

Capital Expenditures

Capital expenditures

Identifiable Assets

Identifiable assets

29,427

38,560

29,427

38,560

12,736

Intersegment Eliminations [Member]

Net Sales

Net sales

(99,886)

(93,545)

(87,148)

Income (loss) from Operations

Income (loss) from operations

1,539

574

717

Wholesale Segment [Member]

Restructuring and asset impairment charges

Restructuring and asset impairment charges

(719)

Retail Segment [Member]

Restructuring and asset impairment charges

Restructuring and asset impairment charges

(351)

Net sales

94,720

^[1]

$ 85,186

$ 85,185

$ 75,647

83,062

^[4]

$ 77,152

$ 81,223

$ 79,849

340,738

321,286

269,672

Income (loss) from operations

15,131

10,005

5,080

Restructuring and asset impairment charges

(711)

Lease exit costs

(359)

Depreciation and Amortization

Depreciation and amortization

7,316

6,198

5,473

Capital Expenditures

Capital expenditures

18,363

14,685

9,000

Identifiable Assets

Identifiable assets

$ 240,746

$ 225,849

$ 240,746

$ 225,849

$ 227,180

[1]	Includes $221 of tax benefit from the expiration of the statute of limitations on certain previously unrecognized tax benefits - see Note 11 for further information.
[2]	Includes $662 of income from death benefits from life insurance policies covering a former executive and a $140 gain from the partial liquidation of our investment in Fortress (see Note 7)
[3]	The first quarter of fiscal 2014 included 13 weeks as compared with 14 weeks for the first quarter of 2013. On an average weekly basis, net sales for the first quarter of fiscal 2014 were $5,819 per week as compared with $5,704 per week for the first quarter of fiscal 2013.
[4]	Includes $416 charge for impairment related to our investment property located in Henderson, Nevada. See Note 15 for further details

Note 19 - Segment Information (Details) - Breakdown of Wholesale Sales by Product Category - Sales Revenue, Product Line [Member]	12 Months Ended
	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Wood [Member]
Note 19 - Segment Information (Details) - Breakdown of Wholesale Sales by Product Category [Line Items]
Percent of wholesale sales	39.00%	41.00%	43.00%
Upholstery [Member]
Note 19 - Segment Information (Details) - Breakdown of Wholesale Sales by Product Category [Line Items]
Percent of wholesale sales	61.00%	59.00%	57.00%
Percent of wholesale sales	100.00%	100.00%	100.00%

Note 20 - Quarterly Results of Operations (Unaudited) (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 01, 2014	Nov. 30, 2013	Aug. 31, 2013	Nov. 29, 2014	Nov. 30, 2013	Nov. 24, 2012
Fortress [Member]
Note 20 - Quarterly Results of Operations (Unaudited) (Details) [Line Items]
Gain on Sale of Investments	$ 140
Former Executive [Member]
Note 20 - Quarterly Results of Operations (Unaudited) (Details) [Line Items]
Proceeds from Life Insurance Policies	$ 662
Unrecognized Tax Benefits, Reduction Resulting from Lapse of Applicable Statute of Limitations			$ 221	$ 40	$ 132	$ 284
Other than Temporary Impairment Losses, Investments		$ 416

Note 20 - Quarterly Results of Operations (Unaudited) (Details) - Quarterly Results of Operations (Unaudited) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Nov. 29, 2014

^[1]

Aug. 30, 2014

^[2]

May 31, 2014

Mar. 01, 2014

^[2],[3]

Nov. 30, 2013

^[4]

Aug. 31, 2013

^[1]

Jun. 01, 2013

Mar. 02, 2013

^[3]

Nov. 29, 2014

Nov. 30, 2013

Nov. 24, 2012

Quarterly Results of Operations (Unaudited) [Abstract]

Net sales

$ 94,720

$ 85,186

$ 85,185

$ 75,647

$ 83,062

$ 77,152

$ 81,223

$ 79,849

$ 340,738

$ 321,286

$ 269,672

Gross profit

51,837

45,018

45,313

40,253

44,085

38,723

41,826

41,360

182,421

165,994

141,322

Net income

$ 3,649

$ 2,256

$ 2,551

$ 843

$ 1,607

$ 556

$ 1,953

$ 980

$ 9,299

$ 5,096

$ 26,713

Basic earnings per share (in Dollars per share)

$ 0.35

$ 0.22

$ 0.24

$ 0.08

$ 0.15

$ 0.05

$ 0.18

$ 0.09

$ 0.88

$ 0.48

$ 2.43

Diluted earnings per share (in Dollars per share)

$ 0.35

$ 0.21

$ 0.24

$ 0.08

$ 0.15

$ 0.05

$ 0.18

$ 0.09

$ 0.87

$ 0.47

$ 2.41

[1]	Includes $221 of tax benefit from the expiration of the statute of limitations on certain previously unrecognized tax benefits - see Note 11 for further information.
[2]	Includes $662 of income from death benefits from life insurance policies covering a former executive and a $140 gain from the partial liquidation of our investment in Fortress (see Note 7)
[3]	The first quarter of fiscal 2014 included 13 weeks as compared with 14 weeks for the first quarter of 2013. On an average weekly basis, net sales for the first quarter of fiscal 2014 were $5,819 per week as compared with $5,704 per week for the first quarter of fiscal 2013.
[4]	Includes $416 charge for impairment related to our investment property located in Henderson, Nevada. See Note 15 for further details

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Note 21 - Subsequent Event (Details) - USD ($)	3 Months Ended
Note 21 - Subsequent Event (Details) - USD ($)	Feb. 27, 2015	Nov. 29, 2014
Scenario, Forecast [Member] \| Zenith Freight Lines [Member]
Note 21 - Subsequent Event (Details) [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	51.00%
Payments to Acquire Businesses, Gross (in Dollars)	$ 20,000
Zenith Freight Lines [Member]
Note 21 - Subsequent Event (Details) [Line Items]
Equity Method Investment, Ownership Percentage		49.00%

Schedule II - Analysis of Valuation and Qualifying Accounts (Details) - Analysis of Valuation and Qualifying Accounts - USD ($)
$ in Thousands

12 Months Ended

Nov. 29, 2014

Nov. 30, 2013

Nov. 24, 2012

Allowance for Doubtful Accounts [Member]

Reserve deducted from assets to which it applies

Balance

$ 1,607

$ 1,789

$ 2,092

Additions Charged to Cost and Expenses

361

377

Deductions

^[1]

(435)

(543)

(680)

Balance

1,249

1,607

1,789

Allowance for Notes Receivable [Member]

Reserve deducted from assets to which it applies

Balance

4,139

4,140

Additions Charged to Cost and Expenses

(1)

Deductions

^[1]

Balance

4,139

Income Tax Valuation Allowance [Member]

Reserve deducted from assets to which it applies

Balance

1,044

908

19,612

Additions Charged to Cost and Expenses

136

Deductions

^[1]

(974)

(18,704)

Balance

1,044

$ 908

Lease and Loan Guarantees [Member]

Reserve deducted from assets to which it applies

Balance

4,139

Deductions

^[1]

Balance

$ 4,139

[1]	Deductions are for the purpose for which the reserve was created. Deductions from the income tax valuation allowance for the years ended November 24, 2012 and November 29, 2014 were due to the removal of the majority of our valuation allowance, resulting in a net tax benefit for the year.

Label	Element	Value
IHFC [Member]
IndemnificationEscrowReceivable	bset_IndemnificationEscrowReceivable	$ 6,106,000
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated other comprehensive loss	us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax	(1,223,000)
Operating Segments [Member] \| Wholesale Segment [Member]
Inventory Valuation Reserves	us-gaap_InventoryValuationReserves	715,000
Operating Segments [Member] \| Retail Segment [Member]
Inventory Valuation Reserves	us-gaap_InventoryValuationReserves	$ 374,000

- Definition

+ References + Details