View Filing Data

Print Document View Excel Document

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	May 30, 2015	Jun. 19, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	BASSETT FURNITURE INDUSTRIES INC
Document Type	10-Q
Current Fiscal Year End Date	--11-28
Entity Common Stock, Shares Outstanding		10,868,348
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	No
Document Period End Date	May 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2

Condensed Consolidated Statements of Income and Retained Earnings (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 30, 2015	May 31, 2014	May 30, 2015	May 31, 2014
Sales revenue:
Furniture and accessories	$ 99,467	$ 85,185	$ 189,015	$ 160,832
Logistics	12,086		15,345
Total sales revenue	111,553	85,185	204,360	160,832
Cost of furniture and accessories sold	46,921	39,872	88,851	75,266
Selling, general and administrative expenses excluding new store pre-opening costs	57,425	40,901	104,900	79,481
New store pre-opening costs	44	521	44	1,108
Lease exit costs			419
Asset impairment charges			106
Management restructuring costs	449		449
Income from operations	6,714	3,891	9,591	4,977
Remeasurement gain on acquisition of affiliate			7,212
Income from Continued Dumping & Subsidy Offset Act	1,066		1,066
Other income (loss), net	(597)	(272)	(1,220)	13
Income before income taxes	7,183	3,619	16,649	4,990
Income tax expense	2,654	1,068	6,164	1,596
Net income	4,529	2,551	10,485	3,394
Retained earnings-beginning of period	111,474	104,713	106,339	104,526
Purchase and retirement of common stock		(1,315)		(1,315)
Cash dividends	(854)	(652)	(1,675)	(1,308)
Retained earnings-end of period	$ 115,149	$ 105,297	$ 115,149	$ 105,297
Basic earnings per share (in Dollars per share)	$ 0.42	$ 0.24	$ 0.99	$ 0.32
Diluted earnings per share (in Dollars per share)	0.42	0.24	0.98	0.31
Dividends per share (in Dollars per share)	$ 0.08	$ 0.06	$ 0.16	$ 0.12

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 30, 2015	May 31, 2014	May 30, 2015	May 31, 2014
Net income	$ 4,529	$ 2,551	$ 10,485	$ 3,394
Other comprehensive income:
Amortization associated with supplemental executive retirement defined benefit plan (SERP)	58	41	117	83
Income taxes related to SERP	(22)	(16)	(44)	(32)
Other comprehensive income, net of tax	36	25	73	51
Total comprehensive income	$ 4,565	$ 2,576	$ 10,558	$ 3,445

- Definition

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

+ References + Details

Condensed Consolidated Balance Sheets (current period unaudited) - USD ($) $ in Thousands	May 30, 2015	Nov. 29, 2014
Current assets
Cash and cash equivalents	$ 22,467	$ 26,673
Short-term investments	23,125	23,125
Accounts receivable, net	20,346	15,228
Inventories	62,978	57,272
Deferred income taxes	5,339	5,268
Other current assets	10,414	7,796
Total current assets	144,669	135,362
Property and equipment, net	95,864	74,812
Deferred income taxes	5,418	9,701
Goodwill and other intangible assets	17,842	1,730
Other	8,190	19,141
Total long-term assets	31,450	30,572
Total assets	271,983	240,746
Current liabilities
Accounts payable	24,776	22,251
Accrued compensation and benefits	10,571	8,931
Customer deposits	22,965	22,202
Dividends payable		2,102
Current portion of long-term debt	4,428	316
Other accrued liabilities	11,579	10,971
Total current liabilities	74,319	66,773
Long-term liabilities
Post employment benefit obligations	11,398	11,498
Notes payable	10,748	1,902
Other long-term liabilities	3,756	3,741
Total long-term liabilities	25,902	17,141
Stockholders’ equity
Common stock	54,355	52,467
Retained earnings	115,149	106,339
Additional paid-in capital	4,158
Accumulated other comprehensive loss	(1,900)	(1,974)
Total stockholders' equity	171,762	156,832
Total liabilities and stockholders’ equity	$ 271,983	$ 240,746

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	May 30, 2015	May 31, 2014
Operating activities:
Net income	$ 10,485	$ 3,394
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	4,729	3,438
Equity in undistributed income of investments and unconsolidated affiliated companies	(220)	(343)
Non-cash asset impairment charges	106
Non-cash portion of lease exit costs	419
Remeasurement gain on acquisition of affiliate	(7,212)
Tenant improvement allowance received from lessors	330	1,270
Deferred income taxes	4,212	(160)
Other, net	1,018	421
Changes in operating assets and liabilities:
Accounts receivable	(1,490)	1,015
Inventories	(5,706)	367
Other current assets	(2,121)	1,451
Customer deposits	763	3,122
Accounts payable and accrued liabilities	3,882	(156)
Net cash provided by operating activities	9,195	13,819
Investing activities:
Purchases of property and equipment	(7,942)	(12,209)
Proceeds from sales of property and equipment	2,952	1,407
Cash paid for business acquisition, net of cash acquired	(7,323)
Capital contribution to affiliate	(1,345)
Proceeds from maturity of short-term investments		5,000
Proceeds from sale of interest in affiliate		2,348
Other		188
Net cash used in investing activities	(13,658)	(3,266)
Financing activities:
Cash dividends	(3,777)	(3,480)
Proceeds from the exercise of stock options	2,993
Other issuance of common stock	171	147
Repurchases of common stock	(255)	(2,930)
Excess tax benefits from stock-based compensation	1,032
Repayments of notes payable	(1,214)	(141)
Proceeds from equipment loans	1,307
Net cash provided by (used in) financing activities	257	(6,404)
Change in cash and cash equivalents	(4,206)	4,149
Cash and cash equivalents - beginning of period	26,673	12,733
Cash and cash equivalents - end of period	$ 22,467	$ 16,882

Note 1 - Basis of Presentation

6 Months Ended

May 30, 2015

Disclosure Text Block [Abstract]

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

1. Basis of Presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and do not include all of the information and footnotes required by accounting principles generally accepted in the United States (“GAAP”) for complete financial statements. In our opinion, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included.

References to “ASC” included hereinafter refer to the Accounting Standards Codification established by the Financial Accounting Standards Board as the source of authoritative GAAP.

The condensed consolidated financial statements include the accounts of Bassett Furniture Industries, Incorporated (“Bassett”, “we”, “our”, or the “Company”) and our wholly-owned subsidiaries of which we have a controlling interest. The equity method of accounting was used for our investment in an affiliated company in which we exercised significant influence but did not maintain a controlling interest prior to the Zenith acquisition mentioned following. In accordance with ASC Topic 810, we have evaluated our licensees and certain other entities to determine whether they are variable interest entities (“VIEs”) of which we are the primary beneficiary and thus would require consolidation in our financial statements. To date we have concluded that none of our licensees nor any other of our counterparties represent VIEs.

Revenue from the sale of furniture and accessories is reported in the accompanying condensed consolidated statements of income net of estimates for returns and allowances.

For comparative purposes, certain amounts from 2014 have been reclassified to conform to the 2015 presentation.

Zenith Acquisition

Prior to February 2, 2015 we held a 49% interest in Zenith Freight Lines, LLC (“Zenith”) for which we used the equity method of accounting. On February 2, 2015 we acquired the remaining 51% ownership interest (see Note 3, Business Combinations). Accordingly, the results of Zenith have been consolidated with our results since the date of the acquisition. Sales of logistical services from Zenith to our wholesale and retail segments have been eliminated, and Zenith’s operating costs and expenses since the date of acquisition are included in selling, general and administrative expenses in our condensed consolidated statements of net income. Our equity in the earnings of Zenith prior to the date of the acquisition is included in other income (loss), net, in the accompanying condensed consolidated statements of income.

Note 2 - Interim Financial Presentation

6 Months Ended

May 30, 2015

Disclosure Text Block Supplement [Abstract]

Condensed Financial Statements [Text Block]

2. Interim Financial Presentation

All intercompany accounts and transactions have been eliminated in the condensed consolidated financial statements. The results of operations for the three and six months ended May 30, 2015 are not necessarily indicative of results for the full fiscal year. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes included in our Annual Report on Form 10-K for the year ended November 29, 2014.

We calculate an anticipated effective tax rate for the year based on our annual estimates of pretax income and use that effective tax rate to record our year-to-date income tax provision. Any change in annual projections of pretax income could have a significant impact on our effective tax rate for the respective quarter. Our effective tax rates for the three and six months ended May 30, 2015 and May 31, 2014 differ from the federal statutory rate primarily due to the effects of state income taxes and various permanent differences.

Note 3 - Business Combination - Acquisition of Zenith

6 Months Ended

May 30, 2015

Business Combinations [Abstract]

Business Combination Disclosure [Text Block]

3. Business Combination – Acquisition of Zenith

Prior to February 2, 2015 we held a 49% interest in Zenith for which we used the equity method of accounting. Zenith provides domestic transportation and warehousing services primarily to furniture manufacturers and distributors and also provides home delivery services to furniture retailers. We historically have contracted with Zenith to provide substantially all of our domestic freight, transportation and warehousing needs for the wholesale business. In addition, Zenith provides home delivery services for many of our Company-owned retail stores. On February 2, 2015, we acquired the remaining 51% of Zenith in exchange for cash, Bassett common stock and a note payable with a total fair value of $19,111. The value of the Bassett common stock was based on the closing market price of our shares on the acquisition date, discounted for lack of marketability due to restrictions on the seller’s ability to transfer the shares. The restrictions on one half of the shares expire on the first anniversary of the acquisition, with the remainder expiring on the second anniversary. The note is payable in three annual installments of $3,000 each beginning February 2, 2016, and has been discounted to its fair value as of the date of the acquisition based on our estimated borrowing rate.

The carrying value of our 49% interest in Zenith prior to the acquisition was $9,480 (see Note 7, unconsolidated affiliated company). In connection with the acquisition, this investment was remeasured to a fair value of $16,692 resulting in the recognition of a gain of $7,212 during the six months ended May 30, 2015. The impact of this gain upon our basic and diluted earnings per share for the six months ended May 30, 2015 is approximately $0.42 and $0.41, respectively, net of the related tax expense. The remeasured fair value of our prior interest in Zenith was estimated based on the fair value of the consideration transferred to acquire the remaining 51% of Zenith less an estimated control premium.

Under the acquisition method of accounting, the fair value of the consideration transferred along with the fair value of our previous 49% interest in Zenith was allocated to the tangible and intangible assets acquired and the liabilities assumed based on their estimated fair values as of the acquisition date with the remaining unallocated amount recorded as goodwill.

The total fair value of the acquired business was determined as follows:

Fair value of consideration transferred in exchange for 51% of Zenith:
Cash	$	9,000
Bassett common stock, 89,485 shares, par value $5.00 per share, fair value at closing $18.72 per share		1,675
Note payable		8,436
Total fair value of consideration transferred to seller		19,111
Less effective settlement of previous amounts payable to Zenith at acquisition		(3,622	)
Total fair value of consideration net of effective settlement		15,489
Fair value of Bassett's previous 49% interest in Zenith		16,692

Total fair value of acquired business	$	32,181

The preliminary allocation of the fair value of the acquired business was based upon a preliminary valuation. Our estimates and assumptions are subject to change as we obtain additional information for our estimates during the measurement period (up to one year from the acquisition date). The primary areas of the preliminary allocation of the fair value of consideration transferred that are not yet finalized relate to the fair values of certain tangible and intangible assets acquired and the residual goodwill. The preliminary allocation of the fair value of the acquired business is as follows:

Identifiable assets acquired:
Acquired cash and cash equivalents	$	1,677
Accounts receivable, net		3,399
Prepaid expenses and other current assets		496
Property and equipment		18,110
Other long-term assets		646
Intangible assets		6,362
Total identifiable assets acquired		30,690
Liabilities assumed:
Accounts payable and accrued liabilities		(4,038	)
Notes payable		(4,329	)
Total liabilities assumed		(8,367	)
Net identifiable assets acquired		22,323
Goodwill		9,858
Total net assets acquired	$	32,181

Goodwill was determined based on the residual difference between the fair value of the consideration transferred and the value assigned to tangible and intangible assets and liabilities and is deductible for tax purposes. Among the factors that contributed to a purchase price resulting in the recognition of goodwill were Zenith’s reputation for best-in-class, fully integrated logistical services which are uniquely tailored to the needs of the furniture industry, as well as their ability to provide expedited delivery service which is increasingly in demand in the furniture industry.

A portion of the fair value of consideration transferred has been provisionally assigned to identifiable intangible assets as follows:

	Useful Life
Description:	In Years		Fair Value
Customer relationships		15	$	3,038
Trade names	Indefinite			2,490
Technology - customized applications		7		834

Total acquired intangible assets			$	6,362

The finite-lived intangible assets are being amortized on a straight-line basis over their useful lives. The indefinite-lived intangible asset and goodwill are not amortized but will be tested for impairment annually or between annual tests if an indicator of impairment exists.

The fair values of consideration transferred and net assets acquired were determined using a combination of Level 2 and Level 3 inputs as specified in the fair value hierarchy in ASC 820, Fair Value Measurements and Disclosures. See Note 12.

Acquisition costs related to the Zenith acquisition totaled $88 and $209 during the three and six months ended May 30, 2015, respectively, and are included in selling, general and administrative expenses in the condensed consolidated statements of income. The acquisition costs are primarily related to legal, accounting and valuation services.

Zenith’s revenue since February 2, 2015 is included in our condensed consolidated statement of income for the three and six months ended May 30, 2015 is $12,086 and $15,345, respectively, after the elimination of intercompany transactions. Net income of Zenith since the date of acquisition for the three and six months ended May 30, 2015 is $603 and $591, respectively. The pro forma results of operations for the acquisition of Zenith have not been presented because they are not material to our consolidated results of operations.

- 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).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1497-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1490-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7008-128479

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6927-128479

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1500-128463

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1524-128463

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e7000-128479

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4922-128472

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4934-128472

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4926-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1383-128463

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=35744584&loc=d3e6996-128479

+ Details

Note 4 - Goodwill and Other Intangible Assets

6 Months Ended

May 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

4. Goodwill and Other Intangible Assets

At May 30, 2015 goodwill and other intangible assets consisted of the following:

	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Intangibles subject to amortization:
Customer relationships	$	3,038	$	(68	)	$	2,970
Technology - customized applications		834		(40	)		794

Total intangible assets subject to amortization		3,872		(108	)		3,764

Intangibles not subject to amortization:
Trade names		2,490		-			2,490
Goodwill		11,588		-			11,588

Total goodwill and other intangible assets	$	17,950	$	(108	)	$	17,842

At November 29, 2014 our only intangible asset was goodwill with a carrying value of $1,730.

Changes in the carrying amounts of goodwill by reportable segment were as follows:

	Wholesale		Retail		Logistics		Total
Balance as of November 29, 2014	$	1,129	$	602	$	-	$	1,731
Goodwill arising from acquisition of Zenith		3,711		1,218		4,929		9,858

Balance as of May 30, 2015	$	4,840	$	1,820	$	4,929	$	11,589

The goodwill recognized in connection with our acquisition of Zenith remains subject to future adjustments before the close of the measurement period in the first quarter of fiscal 2016. Refer to Note 3, Business Combinations, for additional information regarding the Zenith acquisition. There were no accumulated impairment losses on goodwill as of May 30, 2015 or November 29, 2014.

Amortization expense associated with intangible assets during the three and six months ended May 30, 2015 was $66 and $108, respectively. There was no amortization expense recognized during fiscal 2014. Estimated future amortization expense for intangible assets that exist at May 30, 2015 is as follows:

Remainder of fiscal 2015	$	159
Fiscal 2016		322
Fiscal 2017		322
Fiscal 2018		322
Fiscal 2019		322
Fiscal 2020		322
Thereafter		1,995

Total	$	3,764

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Note 5 - Accounts Receivable

6 Months Ended

May 30, 2015

Receivables [Abstract]

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

5. Accounts Receivable

Accounts receivable consists of the following:

	May 30, 2015			November 29, 2014
Gross accounts receivable	$	21,622		$	16,477
Allowance for doubtful accounts		(1,276	)		(1,249	)
Accounts receivable, net	$	20,346		$	15,228

At May 30, 2015 and November 29, 2014 approximately 39% and 46%, respectively, of gross accounts receivable, and approximately 56% and 58%, respectively, of the allowance for doubtful accounts were attributable to amounts owed to us by our licensees. Our remaining receivables are primarily due from national account customers, traditional distribution channel customers, and logistical services customers.

Activity in the allowance for doubtful accounts for the six months ended May 30, 2015 was as follows:

Balance at November 29, 2014	$	1,249
Acquired allowance on accounts receivable (Note 3)		209
Reductions to allowance		(182	)
Balance at May 30, 2015	$	1,276

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 12.

- 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 6 - Inventories

6 Months Ended

May 30, 2015

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

6. Inventories

Inventories are valued at the lower of cost or market. Cost is determined for domestic furniture inventories using the last-in, first-out (LIFO) method. The costs for imported inventories are determined using the first-in, first-out (FIFO) method.

Inventories were comprised of the following:

	May 30, 2015			November 29, 2014
Wholesale finished goods	$	33,355		$	31,399
Work in process		324			298
Raw materials and supplies		9,948			8,109
Retail merchandise		28,958			26,428
Total inventories on first-in, first-out method		72,585			66,234
LIFO adjustment		(8,018	)		(7,550	)
Reserve for excess and obsolete inventory		(1,589	)		(1,412	)
	$	62,978		$	57,272

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/or 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 29, 2014	$	1,060		$	352		$	1,412
Additions charged to expense		1,116			211			1,327
Write-offs		(896	)		(254	)		(1,150	)
Balance at May 30, 2015	$	1,280		$	309		$	1,589

Our estimates and assumptions have been reasonably accurate in the past. We have not made any significant changes to our methodology for determining inventory reserves in 2015 and do not anticipate that our methodology is likely to change in the future.

Note 7 - Unconsolidated Affiliated Company

6 Months Ended

May 30, 2015

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

7. Unconsolidated Affiliated Company

Prior to February 2, 2015 we owned 49% of Zenith and accounted for our investment under the equity method. Our investment in Zenith at November 29, 2014 was $7,915 and is included in other assets in our condensed consolidated balance sheet. The balance of our investment in Zenith was adjusted for our equity in the earnings of Zenith through February 2, 2015 of $220, and increased by $1,345 representing our 49% share of a $2,745 capital contribution made to Zenith, a portion of which was used for retirement of certain of Zenith’s debt prior to the acquisition. This activity resulted in carrying value for our investment in Zenith of $9,480 on the date of acquisition. See Note 3 regarding the remeasurement of this carrying value to fair value in connection with the acquisition and the resulting gain.

At November 29, 2014, we owed Zenith $2,628 for services rendered to us. We believe the transactions with Zenith were recorded at current market rates. Prior to the acquisition on February 2, 2015, we recorded the following income from Zenith in other income (loss), net, in our condensed consolidated statements of income:

Quarter Ended

Six Months Ended

May 30,

2015

May 31,

2014

May 30,

2015

May 31,

2014

Earnings recognized

278

220

343

Note 8 - Notes Payable and Bank Credit Facility

6 Months Ended

May 30, 2015

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

8. Notes Payable and Bank Credit Facility

Our notes payable consist of the following:

	May 30, 2015
	Principal Balance			Unamortized Discount			Net Carrying Amount
Zenith acquisition note payable	$	9,000		$	(463	)	$	8,537
Transportation equipment notes payable		3,224			-			3,224
Real estate notes payable		3,415			-			3,415

Total debt		15,639			(463	)		15,176
Less current portion		(4,691	)		263			(4,428	)

Total long-term debt	$	10,948		$	(200	)	$	10,748

	November 29, 2014
	Principal Balance			Unamortized Discount		Net Carrying Amount
Real estate notes payable	$	2,218		$	-	$	2,218
Less current portion		(316	)		-		(316	)

Total long-term debt	$	1,902		$	-	$	1,902

The future maturities of our notes payable are as follows:

Remainder of fiscal 2015	$	836
Fiscal 2016		5,688
Fiscal 2017		4,329
Fiscal 2018		3,856
Fiscal 2019		526
Fiscal 2020		404
Thereafter		-
	$	15,639

Zenith Acquisition Note Payable

As part of the consideration given for our acquisition of Zenith on February 2, 2015, we issued an unsecured note payable to the former owner in the amount of $9,000. The note is payable in three annual installments $3,000 beginning February 2, 2016. Interest is payable annually at the one year LIBOR rate, which was established at 0.62% on February 2, 2015 and resets on each anniversary of the note. The note was recorded at its fair value in connection with the acquisition resulting in a debt discount that is amortized to the principal amount through the recognition of non-cash interest expense over the term of the note. Interest expense resulting from the amortization of the discount for the three and six months ended May 30, 2015 was $78 and $101, respectively. The current portion of the note due within one year, net of the current portion of the unamortized discount, is $2,737 at May 30, 2015.

Transportation Equipment Notes Payable

Certain of the transportation equipment operated in our logistical services segment is financed by notes payable in the amount of $3,224. These notes are payable in fixed monthly payments of principal and interest at fixed and variable rates ranging from 3.75% to 4.50% at May 30, 2015, with remaining terms of seventeen to forty-six months. The current portion of these notes due within one year at May 30, 2015 is $1,105. The notes are secured by tractors, trailers and local delivery trucks with a total net book value of $4,779 at May 30, 2015.

Real Estate Notes Payable

Certain of our retail real estate properties have been financed through commercial mortgages with interest rates of 6.73%. These mortgages are collateralized by the respective properties with net book values totaling approximately $6,060 and $6,127 at May 30, 2015 and November 29, 2014, respectively. The total balance outstanding under these mortgages was $2,062 and $2,218 at May 30, 2015 and November 29, 2014, respectively. The current portion of these mortgages due within one year was $327 and $316 as of May 30, 2015 and November 29, 2014, respectively.

Certain of the real estate located in Conover, NC and operated in our logistical services segment is subject to a note payable in the amount of $1,353. The note is payable in monthly installments of principal and interest at the fixed rate of 3.75% through October 2016, at which time the remaining balance on the note of approximately $1,004 will be due. The current portion of this note due within one year at May 30, 2015 is $260. The note is secured by land and buildings with a total net book value of $6,260 at May 30, 2015.

Fair Value

We believe that the carrying amount of our notes payable approximates fair value at both May 30, 2015 and November 29, 2014. In estimating the fair value, we utilize 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 12.

Bank Credit Facility

Our credit facility with our bank provides for a line of credit of up to $15,000. This credit facility, which matures in December of 2015, is secured by our accounts receivable and inventory. The facility contains covenants requiring us to maintain certain key financial ratios. We are in compliance with all covenants under the agreement and expect to remain in compliance for the foreseeable future.

At May 30, 2015, we had $216 outstanding under standby letters of credit, leaving availability under our credit line of $14,784.

Note 9 - Commitments and Contingencies

6 Months Ended

May 30, 2015

Disclosure Text Block Supplement [Abstract]

Legal Matters and Contingencies [Text Block]

9. Commitments and Contingencies

We are involved in various legal and environmental matters, which arise in the normal course of business. Although the final outcome of these matters cannot be determined, based on the facts presently known, we believe that the final resolution of these matters will not have a material adverse effect on our financial position or future results of operations.

We lease land and buildings that are used in the operation of our Company-owned retail stores as well as in the operation of certain of our licensee-owned stores, and we lease land and buildings at various locations throughout the continental United States for warehousing and distribution hubs used in our logistical services segment. We also lease tractors, trailers and local delivery trucks used in our logistical services segment. Our real estate lease terms range from one to 15 years and generally have renewal options of between five and 15 years. Some store leases contain contingent rental provisions based upon sales volume. Our transportation equipment leases have terms ranging from two to seven years with fixed monthly rental payments plus variable charges based upon mileage. The following schedule shows future minimum lease payments under non-cancellable operating leases with terms in excess of one year as of May 30, 2015:

	Retail Stores		Distribution Centers		Transportation Equipment		Total
Remainder of fiscal 2015	$	9,158	$	1,807	$	1,380	$	12,345
Fiscal 2016		17,126		3,386		2,429		22,941
Fiscal 2017		14,731		2,940		1,709		19,380
Fiscal 2018		12,253		1,200		806		14,259
Fiscal 2019		10,359		320		755		11,434
Fiscal 2020		9,078		-		671		9,749
Thereafter		24,599		-		30		24,629
	$	97,304	$	9,653	$	7,780	$	114,737

We also 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 $2,856 and $3,164 at May 30, 2015 and November 29, 2014, 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 (primarily inventory), and pursuing payment under the personal guarantees of the independent dealer. The proceeds of the above options are expected to cover the estimated amount of our future payments under the guarantee obligations, net of recorded reserves. The fair value of lease guarantees (an estimate of the cost to the Company to perform on these guarantees) at May 30, 2015 and November 29, 2014 was not material.

Note 10 - Post Employment Benefit Obligations

6 Months Ended

May 30, 2015

Postemployment Benefits [Abstract]

Postemployment Benefits Disclosure [Text Block]

10. Post Employment Benefit Obligations

We have an unfunded Supplemental Retirement Income Plan (the “Supplemental Plan”) that covers one current and certain former executives. The liability for this plan was $10,341 and $10,376 as of May 30, 2015 and November 29, 2014, respectively, and is recorded as follows in the condensed consolidated balance sheets:

	May 30, 2015		November 29, 2014
Accrued compensation and benefits	$	724	$	724
Post employment benefit obligations		9,617		9,652

Total pension liability	$	10,341	$	10,376

Components of net periodic pension costs are as follows:

	Quarter Ended				Six Months Ended
	May 30, 2015		May 31, 2014		May 30, 2015		May 31, 2014
Service cost	$	26	$	19	$	52	$	39
Interest cost		94		93		187		186
Amortization of transition obligation		11		11		21		22
Amortization of loss		49		31		97		61

Net periodic pension cost	$	180	$	154	$	357	$	308

We have an unfunded Deferred Compensation Plan that covers one current executive and certain former executives and provides for voluntary deferral of compensation. This plan has been frozen with no additional participants or deferrals permitted. Our liability under this plan was $2,109 and $2,174 as of May 30, 2015 and November 29, 2014, respectively, and is recorded as follows in the condensed consolidated balance sheets:

	May 30, 2015		November 29, 2014
Accrued compensation and benefits	$	328	$	328
Post employment benefit obligations		1,781		1,846

Total deferred compensation liability	$	2,109	$	2,174

We recognized expense under this plan during the three and six months ended May 30, 2015 and May 31, 2014 as follows:

	Quarter Ended				Six Months Ended
	May 30, 2015		May 31, 2014		May 30, 2015		May 31, 2014
Deferred compensation expense	$	54	$	72	$	108	$	144

Note 11 - Earnings Per Share

6 Months Ended

May 30, 2015

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

11. Earnings Per Share

The following reconciles basic and diluted earnings per share:

	Net Income		Weighted Average Shares		Net Income Per Share
For the quarter ended May 30, 2015:
Basic earnings per share	$	4,529		10,678,298	$	0.42
Add effect of dilutive securities:
Options and restricted shares		-		165,918		-
Diluted earnings per share	$	4,529		10,844,216	$	0.42

For the quarter ended May 31, 2014:

Basic earnings per share	$	2,551		10,621,707	$	0.24
Add effect of dilutive securities:
Options and restricted shares		-		157,573		-
Diluted earnings per share	$	2,551		10,779,280	$	0.24

For the six months ended May 30, 2015:

Basic earnings per share	$	10,485		10,579,477	$	0.99
Add effect of dilutive securities:
Options and restricted shares		-		171,720		(0.01	)
Diluted earnings per share	$	10,485		10,751,197	$	0.98

For the six months ended May 31, 2014:

Basic earnings per share	$	3,394		10,656,677	$	0.32
Add effect of dilutive securities:
Options and restricted shares		-		151,157		(0.01	)
Diluted earnings per share	$	3,394		10,807,834	$	0.31

For the three and six months ended May 30, 2015 and May 31, 2014, the following potentially dilutive shares were excluded from the computations as their effect was anti-dilutive:

	Quarter Ended				Six Months Ended
	May 30, 2015		May 31, 2014		May 30, 2015		May 31, 2014
Stock options		-		207,500		-		207,500
Unvested shares		6,354		12,339		46,354		66,339

Total anti-dilutive securities		6,354		219,839		46,354		273,839

Note 12 - Financial Instruments and Fair Value Measurements

6 Months Ended

May 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Disclosures [Text Block]

12. Financial Instruments and Fair Value Measurements

Financial Instruments

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

Investments

Our short-term investments of $23,125 at both May 30, 2015 and November 29, 2014 consisted of certificates of deposit (CDs) with original terms generally ranging from six to twelve months, bearing interest at rates ranging from 0.16% to 1.00%. At May 30, 2015, the weighted average remaining time to maturity of the CDs was approximately two months and the weighted average yield of the CDs was approximately 0.21%. Each CD is placed with a Federally insured financial institution and all deposits are within Federal deposit insurance limits. As the CDs mature, we expect to reinvest them in CDs of similar maturities of up to one year. Due to the nature of these investments and their relatively short maturities, the carrying amount of the short-term investments at May 30, 2015 and November 29, 2014 approximates their fair value.

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 notes payable for disclosure purposes (see Note 8) involves Level 3 inputs. Our primary non-recurring fair value estimates typically involve business acquisitions (Note 3) which involve a combination of Level 2 and Level 3 inputs, and asset impairments (Note 13) which utilize 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 13 - Asset Disposition, Impairment Charges and Accured Lease Exit Costs

6 Months Ended

May 30, 2015

Asset Disposition And Accrued Lease Exit Costs [Abstract]

Asset Disposition And Accrued Lease Exit Costs [Text Block]

13. Asset Disposition, Impairment Charges and Accrued Lease Exit Costs, and Income from CDSOA

Asset Disposition

On March 12, 2015, we closed on the sale of our retail real estate investment property located in Sugarland, Texas and received cash in the amount of $2,835 which is included in proceeds from sales of property and equipment in the accompanying statement of condensed consolidated cash flows. This asset was included in other assets at November 29, 2014 along with our other investments in retail real estate. During the six months ended May 30, 2015, we recognized a non-cash charge of $182 to write down the carrying value of the Sugarland real estate to the selling price. This charge is included in other income (loss), net in our condensed consolidated income statement.

Asset Impairment Charges and Lease Exit Costs

During the first quarter of fiscal 2015 we announced the closing of our Company-owned retail store location in Memphis, Tennessee. In connection with this closing, we recognized non-cash charges for the six months ended May 30, 2015 of $419 for the accrual of lease exit costs and $106 for the write off of abandoned leasehold improvements and other store assets.

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

Balance at November 29, 2014	$	433

Provisions associated with Company-owned retail store closures		419
Payments and other		(82	)

Balance at May 30, 2015	$	770

Current portion included in other accrued liabilities	$	404
Long-term portion included in other long-term liabilities		366
	$	770

Management Restructuring Costs

During the three and six months ended May 30, 2015, we recognized $449 of expense related to severance payable to a former executive, who left the Company in April, 2015. Of the total severance amount, $170 had been paid during the second quarter with the remaining $278 included in other accrued liabilities in the condensed consolidated balance sheet at May 30, 2015.

Income from Continued Dumping & Subsidy Offset Act

During the three and six months ended May 30, 2015, we recognized income of $1,066 arising from distributions received from U.S. Customs and Border Protection (“Customs”) under the Continued Dumping and Subsidy Offset Act of 2000 (“CDSOA”). These distributions primarily represent amounts previously withheld by Customs pending the resolution of claims filed by certain manufacturers who did not support the antidumping petition (“Non-Supporting Producers”) challenging certain provisions of the CDSOA and seeking to share in the distributions. The Non-Supporting Producers’ claims were dismissed by the courts and all appeals were exhausted in 2014. While it is possible that we may receive additional distributions from Customs, we cannot estimate the likelihood or amount of any future distributions.

Note 14 - Recent Accounting Pronouncements

6 Months Ended

May 30, 2015

Disclosure Text Block [Abstract]

Description of New Accounting Pronouncements Not yet Adopted [Text Block]

14. Recent Accounting Pronouncements

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.

In January 2015, the FASB issued Accounting Standards Update No. 2015-01, Income Statement — Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. ASU 2015-01 eliminates the concept of reporting extraordinary items, but retains current presentation and disclosure requirements for an event or transaction that is of an unusual nature or of a type that indicates infrequency of occurrence. Transactions that meet both criteria would now also follow such presentation and disclosure requirements. For all entities, the guidance is effective for annual periods, and interim periods within those annual periods, beginning after 15 December 2015. Early adoption is permitted; however, adoption must occur at the beginning of an annual period. Therefore the amendments in ASU 2015-01 will become effective for us as of the beginning of our 2017 fiscal year. The adoption of this guidance is not expected to have a material impact upon our financial condition or results of operations.

Note 15 - Segment Information

6 Months Ended

May 30, 2015

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

15. 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 and capital expenditures directly related to these stores.

●

Logistical services. With our acquisition of Zenith on February 2, 2015, we created the logistical services operating segment which reflects the operations of Zenith. In addition to providing shipping, delivery and warehousing services for the Company, Zenith also provides similar services to other customers, primarily in the furniture industry. Revenue from the performance of these services to other customers is included in logistics revenue in our condensed consolidated statement of income. Zenith’s operating costs are included in selling, general and administrative expenses and total $6,007 from the date of acquisition through May 30, 2015. Amounts charged by Zenith to the Company for logistical services prior to the date of acquisition are included in selling, general and administrative expenses, and our equity in the earnings of Zenith prior to the date of acquisition is included in other income (loss), net, in the accompanying statements of income.

Inter-company net sales elimination represents the elimination of wholesale sales to our Company-owned stores and the elimination of Zenith logistics revenue from our wholesale and retail segments. Inter-company income elimination includes the embedded wholesale profit in the Company-owned store inventory that has not 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, and the elimination of shipping and handling charges from Zenith for services provided to our wholesale and retail operations.

Prior to the beginning of fiscal 2015, our former investments and real estate segment included our short-term investments, our holdings of retail real estate previously leased as licensee stores, and our former equity investment in Zenith prior to acquisition. This segment has been eliminated and the assets formerly reported therein are now considered to be part of our wholesale segment. The earnings and costs associated with these assets, including our equity in the income of Zenith prior to the date of acquisition, will continue to be included in other income (loss), net, in our condensed consolidated statements of income.

The following table presents our segment information:

	Quarter Ended						Six Month's Ended
	May 30, 2015			May 31, 2014			May 30, 2015			May 31, 2014
Sales Revenue
Wholesale	$	66,705		$	56,184		$	125,510		$	107,270
Retail - Company-owned stores		63,921			53,290			121,104			100,414
Logistical services		21,958			-			27,957			-
Inter-company eliminations:
Furniture and accessories		(31,159	)		(24,289	)		(57,600	)		(46,852	)
Logistical services		(9,872	)		-			(12,611	)		-
Consolidated	$	111,553		$	85,185		$	204,360		$	160,832

Income (loss) from Operations
Wholesale	$	4,796		$	4,257		$	7,723		$	6,605
Retail - Company-owned stores		1,971			(666	)		1,929			(2,438	)
Logistical services		1,027			-			1,019			-
Inter-company elimination		(631	)		300			(106	)		810
Management restructuring costs		(449	)		-			(449	)
Lease exit costs		-			-			(419	)		-
Asset impairment charges		-			-			(106	)		-
Consolidated	$	6,714		$	3,891		$	9,591		$	4,977

Depreciation and Amortization
Wholesale	$	504		$	446		$	1,038		$	881
Retail - Company-owned stores		1,343			1,300			2,698			2,557
Logistical services		736			-			993			-
Consolidated	$	2,583		$	1,746		$	4,729		$	3,438

Capital Expenditures
Wholesale	$	1,384		$	1,788		$	2,345		$	3,225
Retail - Company-owned stores		1,767			3,522			3,878			8,984
Logistical services		873			-			1,719			-
Consolidated	$	4,024		$	5,310		$	7,942		$	12,209

	As of		As of
Identifiable Assets	May 30, 2015		November 29, 2014
Wholesale	$	136,553	$	154,275
Retail - Company-owned stores		90,550		86,471
Logistical services		44,880		-
Consolidated	$	271,983	$	240,746

- 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
-Paragraph 34
-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
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Note 3 - Business Combination - Acquisition of Zenith (Tables)

6 Months Ended

May 30, 2015

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Fair value of consideration transferred in exchange for 51% of Zenith:
Cash	$	9,000
Bassett common stock, 89,485 shares, par value $5.00 per share, fair value at closing $18.72 per share		1,675
Note payable		8,436
Total fair value of consideration transferred to seller		19,111
Less effective settlement of previous amounts payable to Zenith at acquisition		(3,622	)
Total fair value of consideration net of effective settlement		15,489
Fair value of Bassett's previous 49% interest in Zenith		16,692

Total fair value of acquired business	$	32,181

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

Identifiable assets acquired:
Acquired cash and cash equivalents	$	1,677
Accounts receivable, net		3,399
Prepaid expenses and other current assets		496
Property and equipment		18,110
Other long-term assets		646
Intangible assets		6,362
Total identifiable assets acquired		30,690
Liabilities assumed:
Accounts payable and accrued liabilities		(4,038	)
Notes payable		(4,329	)
Total liabilities assumed		(8,367	)
Net identifiable assets acquired		22,323
Goodwill		9,858
Total net assets acquired	$	32,181

Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

	Useful Life
Description:	In Years		Fair Value
Customer relationships		15	$	3,038
Trade names	Indefinite			2,490
Technology - customized applications		7		834

Total acquired intangible assets			$	6,362

Note 4 - Goodwill and Other Intangible Assets (Tables)

6 Months Ended

May 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets and Goodwill [Table Text Block]

	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Intangibles subject to amortization:
Customer relationships	$	3,038	$	(68	)	$	2,970
Technology - customized applications		834		(40	)		794

Total intangible assets subject to amortization		3,872		(108	)		3,764

Intangibles not subject to amortization:
Trade names		2,490		-			2,490
Goodwill		11,588		-			11,588

Total goodwill and other intangible assets	$	17,950	$	(108	)	$	17,842

Schedule of Goodwill [Table Text Block]

	Wholesale		Retail		Logistics		Total
Balance as of November 29, 2014	$	1,129	$	602	$	-	$	1,731
Goodwill arising from acquisition of Zenith		3,711		1,218		4,929		9,858

Balance as of May 30, 2015	$	4,840	$	1,820	$	4,929	$	11,589

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Remainder of fiscal 2015	$	159
Fiscal 2016		322
Fiscal 2017		322
Fiscal 2018		322
Fiscal 2019		322
Fiscal 2020		322
Thereafter		1,995

Total	$	3,764

Note 5 - Accounts Receivable (Tables)

6 Months Ended

May 30, 2015

Receivables [Abstract]

Schedule of Accounts Receivable [Table Text Block]

	May 30, 2015			November 29, 2014
Gross accounts receivable	$	21,622		$	16,477
Allowance for doubtful accounts		(1,276	)		(1,249	)
Accounts receivable, net	$	20,346		$	15,228

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

Balance at November 29, 2014	$	1,249
Acquired allowance on accounts receivable (Note 3)		209
Reductions to allowance		(182	)
Balance at May 30, 2015	$	1,276

Note 6 - Inventories (Tables)

6 Months Ended

May 30, 2015

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

	May 30, 2015			November 29, 2014
Wholesale finished goods	$	33,355		$	31,399
Work in process		324			298
Raw materials and supplies		9,948			8,109
Retail merchandise		28,958			26,428
Total inventories on first-in, first-out method		72,585			66,234
LIFO adjustment		(8,018	)		(7,550	)
Reserve for excess and obsolete inventory		(1,589	)		(1,412	)
	$	62,978		$	57,272

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

	Wholesale Segment			Retail Segment			Total
Balance at November 29, 2014	$	1,060		$	352		$	1,412
Additions charged to expense		1,116			211			1,327
Write-offs		(896	)		(254	)		(1,150	)
Balance at May 30, 2015	$	1,280		$	309		$	1,589

Note 7 - Unconsolidated Affiliated Company (Tables)

6 Months Ended

May 30, 2015

Zenith Freight Lines [Member]

Note 7 - Unconsolidated Affiliated Company (Tables) [Line Items]

Equity Method Investments [Table Text Block]

Quarter Ended

Six Months Ended

May 30,

2015

May 31,

2014

May 30,

2015

May 31,

2014

Earnings recognized

278

220

343

Note 8 - Notes Payable and Bank Credit Facility (Tables)

6 Months Ended

May 30, 2015

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

	May 30, 2015
	Principal Balance			Unamortized Discount			Net Carrying Amount
Zenith acquisition note payable	$	9,000		$	(463	)	$	8,537
Transportation equipment notes payable		3,224			-			3,224
Real estate notes payable		3,415			-			3,415

Total debt		15,639			(463	)		15,176
Less current portion		(4,691	)		263			(4,428	)

Total long-term debt	$	10,948		$	(200	)	$	10,748

	November 29, 2014
	Principal Balance			Unamortized Discount		Net Carrying Amount
Real estate notes payable	$	2,218		$	-	$	2,218
Less current portion		(316	)		-		(316	)

Total long-term debt	$	1,902		$	-	$	1,902

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

Remainder of fiscal 2015	$	836
Fiscal 2016		5,688
Fiscal 2017		4,329
Fiscal 2018		3,856
Fiscal 2019		526
Fiscal 2020		404
Thereafter		-
	$	15,639

Note 9 - Commitments and Contingencies (Tables)

6 Months Ended

May 30, 2015

Disclosure Text Block Supplement [Abstract]

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

	Retail Stores		Distribution Centers		Transportation Equipment		Total
Remainder of fiscal 2015	$	9,158	$	1,807	$	1,380	$	12,345
Fiscal 2016		17,126		3,386		2,429		22,941
Fiscal 2017		14,731		2,940		1,709		19,380
Fiscal 2018		12,253		1,200		806		14,259
Fiscal 2019		10,359		320		755		11,434
Fiscal 2020		9,078		-		671		9,749
Thereafter		24,599		-		30		24,629
	$	97,304	$	9,653	$	7,780	$	114,737

Note 10 - Post Employment Benefit Obligations (Tables)

6 Months Ended

May 30, 2015

Postemployment Benefits [Abstract]

Schedule of Pension Liability [Table Text Block]

	May 30, 2015		November 29, 2014
Accrued compensation and benefits	$	724	$	724
Post employment benefit obligations		9,617		9,652

Total pension liability	$	10,341	$	10,376

	May 30, 2015		November 29, 2014
Accrued compensation and benefits	$	328	$	328
Post employment benefit obligations		1,781		1,846

Total deferred compensation liability	$	2,109	$	2,174

Schedule of Net Benefit Costs [Table Text Block]

	Quarter Ended				Six Months Ended
	May 30, 2015		May 31, 2014		May 30, 2015		May 31, 2014
Service cost	$	26	$	19	$	52	$	39
Interest cost		94		93		187		186
Amortization of transition obligation		11		11		21		22
Amortization of loss		49		31		97		61

Net periodic pension cost	$	180	$	154	$	357	$	308

Deferred Compensation Arrangement with Individual Disclosure, Postretirement Benefits [Table Text Block]

	Quarter Ended				Six Months Ended
	May 30, 2015		May 31, 2014		May 30, 2015		May 31, 2014
Deferred compensation expense	$	54	$	72	$	108	$	144

Note 11 - Earnings Per Share (Tables)

6 Months Ended

May 30, 2015

Earnings Per Share [Abstract]

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

	Net Income		Weighted Average Shares		Net Income Per Share
For the quarter ended May 30, 2015:
Basic earnings per share	$	4,529		10,678,298	$	0.42
Add effect of dilutive securities:
Options and restricted shares		-		165,918		-
Diluted earnings per share	$	4,529		10,844,216	$	0.42

For the quarter ended May 31, 2014:

Basic earnings per share	$	2,551		10,621,707	$	0.24
Add effect of dilutive securities:
Options and restricted shares		-		157,573		-
Diluted earnings per share	$	2,551		10,779,280	$	0.24

For the six months ended May 30, 2015:

Basic earnings per share	$	10,485		10,579,477	$	0.99
Add effect of dilutive securities:
Options and restricted shares		-		171,720		(0.01	)
Diluted earnings per share	$	10,485		10,751,197	$	0.98

For the six months ended May 31, 2014:

Basic earnings per share	$	3,394		10,656,677	$	0.32
Add effect of dilutive securities:
Options and restricted shares		-		151,157		(0.01	)
Diluted earnings per share	$	3,394		10,807,834	$	0.31

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	Quarter Ended				Six Months Ended
	May 30, 2015		May 31, 2014		May 30, 2015		May 31, 2014
Stock options		-		207,500		-		207,500
Unvested shares		6,354		12,339		46,354		66,339

Total anti-dilutive securities		6,354		219,839		46,354		273,839

Note 13 - Asset Disposition, Impairment Charges and Accured Lease Exit Costs (Tables)

6 Months Ended

May 30, 2015

Asset Disposition And Accrued Lease Exit Costs [Abstract]

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

Balance at November 29, 2014	$	433

Provisions associated with Company-owned retail store closures		419
Payments and other		(82	)

Balance at May 30, 2015	$	770

Current portion included in other accrued liabilities	$	404
Long-term portion included in other long-term liabilities		366
	$	770

Note 15 - Segment Information (Tables)

6 Months Ended

May 30, 2015

Segment Reporting [Abstract]

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

	Quarter Ended						Six Month's Ended
	May 30, 2015			May 31, 2014			May 30, 2015			May 31, 2014
Sales Revenue
Wholesale	$	66,705		$	56,184		$	125,510		$	107,270
Retail - Company-owned stores		63,921			53,290			121,104			100,414
Logistical services		21,958			-			27,957			-
Inter-company eliminations:
Furniture and accessories		(31,159	)		(24,289	)		(57,600	)		(46,852	)
Logistical services		(9,872	)		-			(12,611	)		-
Consolidated	$	111,553		$	85,185		$	204,360		$	160,832

Income (loss) from Operations
Wholesale	$	4,796		$	4,257		$	7,723		$	6,605
Retail - Company-owned stores		1,971			(666	)		1,929			(2,438	)
Logistical services		1,027			-			1,019			-
Inter-company elimination		(631	)		300			(106	)		810
Management restructuring costs		(449	)		-			(449	)
Lease exit costs		-			-			(419	)		-
Asset impairment charges		-			-			(106	)		-
Consolidated	$	6,714		$	3,891		$	9,591		$	4,977

Depreciation and Amortization
Wholesale	$	504		$	446		$	1,038		$	881
Retail - Company-owned stores		1,343			1,300			2,698			2,557
Logistical services		736			-			993			-
Consolidated	$	2,583		$	1,746		$	4,729		$	3,438

Capital Expenditures
Wholesale	$	1,384		$	1,788		$	2,345		$	3,225
Retail - Company-owned stores		1,767			3,522			3,878			8,984
Logistical services		873			-			1,719			-
Consolidated	$	4,024		$	5,310		$	7,942		$	12,209

Reconciliation of Assets from Segment to Consolidated [Table Text Block]

	As of		As of
Identifiable Assets	May 30, 2015		November 29, 2014
Wholesale	$	136,553	$	154,275
Retail - Company-owned stores		90,550		86,471
Logistical services		44,880		-
Consolidated	$	271,983	$	240,746

Note 1 - Basis of Presentation (Details)	May 30, 2015	Feb. 02, 2015	Feb. 01, 2015
Zenith Freight Lines [Member]
Note 1 - Basis of Presentation (Details) [Line Items]
Equity Method Investment, Ownership Percentage			49.00%
Zenith Freight Lines [Member]
Note 1 - Basis of Presentation (Details) [Line Items]
Equity Method Investment, Ownership Percentage	49.00%
Business Acquisition, Percentage of Voting Interests Acquired	51.00%	51.00%

Note 3 - Business Combination - Acquisition of Zenith (Details) $ / shares in Units, $ in Thousands			3 Months Ended	6 Months Ended
	Feb. 02, 2015 USD ($)	Feb. 01, 2015 USD ($)	May 30, 2015 USD ($)	May 30, 2015 USD ($) $ / shares
Note 3 - Business Combination - Acquisition of Zenith (Details) [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain				$ 7,212
Zenith Freight Lines [Member]
Note 3 - Business Combination - Acquisition of Zenith (Details) [Line Items]
Equity Method Investment, Ownership Percentage		49.00%
Equity Method Investments, Carrying Value Prior to Step Acquisition Remeasurement		$ 9,480
Zenith Freight Lines [Member]
Note 3 - Business Combination - Acquisition of Zenith (Details) [Line Items]
Equity Method Investment, Ownership Percentage			49.00%	49.00%
Business Acquisition, Percentage of Voting Interests Acquired	51.00%		51.00%	51.00%
Business Combination, Consideration Transferred	$ 19,111			$ 19,111
Debt Instrument, Periodic Payment, Number of Instalments	3
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value				16,692
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain				$ 7,212
Basic Earnings Per Share, Adjustment (in Dollars per share) \| $ / shares				$ 0.42
Diluted Earnings Per Share, Adjustment (in Dollars per share) \| $ / shares				$ 0.41
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual			$ 12,086	$ 15,345
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual			603	591
Zenith Freight Lines [Member] \| Selling, General and Administrative Expenses [Member]
Note 3 - Business Combination - Acquisition of Zenith (Details) [Line Items]
Business Combination, Acquisition Related Costs			$ 88	$ 209
Long-term Debt [Member] \| Zenith Freight Lines [Member]
Note 3 - Business Combination - Acquisition of Zenith (Details) [Line Items]
Debt Instrument, Periodic Payment	$ 3,000

Note 3 - Business Combination - Acquisition of Zenith (Details) - Fair Value of Acquired Business - Zenith Freight Lines [Member] - USD ($) $ in Thousands		6 Months Ended
	Feb. 02, 2015	May 30, 2015
Fair value of consideration transferred in exchange for 51% of Zenith:
Cash		$ 9,000
Bassett common stock, 89,485 shares, par value $5.00 per share, fair value at closing $18.72 per share		1,675
Note payable		8,436
Total fair value of consideration transferred to seller	$ 19,111	19,111
Less effective settlement of previous amounts payable to Zenith at acquisition		(3,622)
Total fair value of consideration net of effective settlement		15,489
Fair value of Bassett's previous 49% interest in Zenith		16,692
Total fair value of acquired business		$ 32,181

Note 3 - Business Combination - Acquisition of Zenith (Details) - Fair Value of Acquired Business (Parentheticals) - Zenith Freight Lines [Member] - $ / shares	6 Months Ended
	May 30, 2015	Feb. 02, 2015
Business Acquisition [Line Items]
Acquired business, percentage of voting rights acquired	51.00%	51.00%
Bassett common stock, shares	89,485
Bassett common stock, par value per share	$ 5.00
Bassett common stock, fair value at closing per share	$ 18.72
Equity method investment, ownership percentage	49.00%

Note 3 - Business Combination - Acquisition of Zenith (Details) - Allocation of Fair Value of the Acquired Business - USD ($) $ in Thousands	May 30, 2015	Feb. 02, 2015	Nov. 29, 2014
Liabilities assumed:
Goodwill	$ 11,589		$ 1,730
Zenith Freight Lines [Member]
Identifiable assets acquired:
Acquired cash and cash equivalents		$ 1,677
Accounts receivable, net		3,399
Prepaid expenses and other current assets		496
Property and equipment		18,110
Other long-term assets		646
Intangible assets		6,362
Total identifiable assets acquired		30,690
Liabilities assumed:
Accounts payable and accrued liabilities		(4,038)
Notes payable		(4,329)
Total liabilities assumed		(8,367)
Net identifiable assets acquired		22,323
Goodwill		9,858
Total net assets acquired		$ 32,181

Note 3 - Business Combination - Acquisition of Zenith (Details) - Acquired Identifiable Intangible Assets - Zenith Freight Lines [Member] $ in Thousands	6 Months Ended
	May 30, 2015 USD ($)
Note 3 - Business Combination - Acquisition of Zenith (Details) - Acquired Identifiable Intangible Assets [Line Items]
Fair Value	$ 6,362
Trade Names [Member]
Note 3 - Business Combination - Acquisition of Zenith (Details) - Acquired Identifiable Intangible Assets [Line Items]
Trade names	Indefinite
Trade names	$ 2,490
Customer Relationships [Member]
Note 3 - Business Combination - Acquisition of Zenith (Details) - Acquired Identifiable Intangible Assets [Line Items]
Useful Life	15 years
Fair Value	$ 3,038
Technology-Based Intangible Assets [Member]
Note 3 - Business Combination - Acquisition of Zenith (Details) - Acquired Identifiable Intangible Assets [Line Items]
Useful Life	7 years
Fair Value	$ 834

Note 4 - Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	May 30, 2015	May 30, 2015	Nov. 29, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 11,589	$ 11,589	$ 1,730
Goodwill, Impaired, Accumulated Impairment Loss	0	0	0
Amortization of Intangible Assets	$ 66	$ 108	$ 0

Note 4 - Goodwill and Other Intangible Assets (Details) - Goodwill and Other Intangible Assets - USD ($) $ in Thousands	6 Months Ended
	May 30, 2015	Nov. 29, 2014
Intangibles subject to amortization:
Intangibles subject to amortization, Gross Carrying Amount	$ 3,872
Intangibles subject to amortization, Accumulated Amortization	(108)
Intangibles subject to amortization, Intangible Assets, Net	3,764
Intangibles not subject to amortization:
Trade names	2,490
Goodwill	11,588
Total goodwill and other intangible assets	17,950
Total goodwill and other intangible assets	(108)
Total goodwill and other intangible assets	17,842	$ 1,730
Customer Relationships [Member]
Intangibles subject to amortization:
Intangibles subject to amortization, Gross Carrying Amount	3,038
Intangibles subject to amortization, Accumulated Amortization	(68)
Intangibles subject to amortization, Intangible Assets, Net	2,970
Technology-Based Intangible Assets [Member]
Intangibles subject to amortization:
Intangibles subject to amortization, Gross Carrying Amount	834
Intangibles subject to amortization, Accumulated Amortization	(40)
Intangibles subject to amortization, Intangible Assets, Net	$ 794

Note 4 - Goodwill and Other Intangible Assets (Details) - Changes in Carrying Amount of Goodwill $ in Thousands	6 Months Ended
	May 30, 2015 USD ($)
Goodwill [Line Items]
Goodwill, balance	$ 1,730
Goodwill, balance	11,589
Zenith Freight Lines [Member]
Goodwill [Line Items]
Goodwill arising from acquisition of Zenith	9,858
Wholesale Segment [Member]
Goodwill [Line Items]
Goodwill, balance	1,129
Goodwill, balance	4,840
Wholesale Segment [Member] \| Zenith Freight Lines [Member]
Goodwill [Line Items]
Goodwill arising from acquisition of Zenith	3,711
Retail Segment [Member]
Goodwill [Line Items]
Goodwill, balance	602
Goodwill, balance	1,820
Retail Segment [Member] \| Zenith Freight Lines [Member]
Goodwill [Line Items]
Goodwill arising from acquisition of Zenith	1,218
Logistical Services [Member]
Goodwill [Line Items]
Goodwill, balance	4,929
Logistical Services [Member] \| Zenith Freight Lines [Member]
Goodwill [Line Items]
Goodwill arising from acquisition of Zenith	$ 4,929

Note 4 - Goodwill and Other Intangible Assets (Details) - Estimated Future Amortization Expense for Intangible Assets $ in Thousands	May 30, 2015 USD ($)
Estimated Future Amortization Expense for Intangible Assets [Abstract]
Remainder of fiscal 2015	$ 159
Fiscal 2016	322
Fiscal 2017	322
Fiscal 2018	322
Fiscal 2019	322
Fiscal 2020	322
Thereafter	1,995
Total	$ 3,764

Note 5 - Accounts Receivable (Details) - Licensees [Member]	May 30, 2015	Nov. 29, 2014
Accounts Receivable [Member]
Note 5 - Accounts Receivable (Details) [Line Items]
Concentration Risk, Percentage	39.00%	46.00%
Allowance for Doubtful Accounts Receivable [Member]
Note 5 - Accounts Receivable (Details) [Line Items]
Concentration Risk, Percentage	56.00%	58.00%

Note 5 - Accounts Receivable (Details) - Accounts Receivable - USD ($) $ in Thousands	May 30, 2015	Nov. 29, 2014
Accounts Receivable [Abstract]
Gross accounts receivable	$ 21,622	$ 16,477
Allowance for doubtful accounts	(1,276)	(1,249)
Accounts receivable, net	$ 20,346	$ 15,228

Note 5 - Accounts Receivable (Details) - Activity in Allowance for Doubtful Accounts $ in Thousands	6 Months Ended
	May 30, 2015 USD ($)
Note 5 - Accounts Receivable (Details) - Activity in Allowance for Doubtful Accounts [Line Items]
Balance	$ 1,249
Reductions to allowance	(182)
Balance	1,276
Zenith Freight Lines [Member]
Note 5 - Accounts Receivable (Details) - Activity in Allowance for Doubtful Accounts [Line Items]
Acquired allowance on accounts receivable (Note 3)	$ 209

Note 6 - Inventories (Details) - Inventories - USD ($) $ in Thousands	May 30, 2015	Nov. 29, 2014
Inventories [Abstract]
Wholesale finished goods	$ 33,355	$ 31,399
Work in process	324	298
Raw materials and supplies	9,948	8,109
Retail merchandise	28,958	26,428
Total inventories on first-in, first-out method	72,585	66,234
LIFO adjustment	(8,018)	(7,550)
Reserve for excess and obsolete inventory	(1,589)	(1,412)
	$ 62,978	$ 57,272

Note 6 - Inventories (Details) - Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment $ in Thousands	6 Months Ended
	May 30, 2015 USD ($)
Note 6 - Inventories (Details) - Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment [Line Items]
Balance	$ 1,589
Additions charged to expense	1,327
Write-offs	(1,150)
Operating Segments [Member] \| Wholesale Segment [Member]
Note 6 - Inventories (Details) - Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment [Line Items]
Balance	1,280
Additions charged to expense	1,116
Write-offs	(896)
Operating Segments [Member] \| Retail Segment [Member]
Note 6 - Inventories (Details) - Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment [Line Items]
Balance	309
Additions charged to expense	211
Write-offs	$ (254)

Note 7 - Unconsolidated Affiliated Company (Details) - Zenith Freight Lines [Member] - USD ($) $ in Thousands	2 Months Ended
	Feb. 02, 2015	Feb. 01, 2015	Nov. 29, 2014
Note 7 - Unconsolidated Affiliated Company (Details) [Line Items]
Equity Method Investment, Ownership Percentage		49.00%
Equity Method Investments	$ 9,480		$ 7,915
Income (Loss) from Equity Method Investments	220
Investments in and Advances to Affiliates, at Fair Value, Gross Additions	1,345
Capital Contributions Made to Unconsolidated Affiliated Companies	$ 2,745
Due to Affiliate			$ 2,628

- 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 7 - Unconsolidated Affiliated Company (Details) - Income - Zenith Freight Lines [Member] - USD ($) $ in Thousands	2 Months Ended	3 Months Ended	6 Months Ended
	Feb. 02, 2015	May 31, 2014	May 30, 2015	May 31, 2014
Schedule of Equity Method Investments [Line Items]
Earnings recognized	$ 220
Earnings Recognized [Member]
Schedule of Equity Method Investments [Line Items]
Earnings recognized		$ 278	$ 220	$ 343

Note 8 - Notes Payable and Bank Credit Facility (Details) $ in Thousands		3 Months Ended	6 Months Ended
	Feb. 02, 2015 USD ($)	May 30, 2015 USD ($)	May 30, 2015 USD ($)	Nov. 29, 2014 USD ($)	Dec. 18, 2012 USD ($)
Note 8 - Notes Payable and Bank Credit Facility (Details) [Line Items]
Debt Instrument, Carrying Amount, Current		$ 4,691	$ 4,691	$ 316
Long-term Debt		15,176	15,176
Line of Credit Facility, Maximum Borrowing Capacity					$ 15,000
Letters of Credit Outstanding, Amount		216	216
Line of Credit Facility, Remaining Borrowing Capacity		14,784	14,784
Unsecured Debt [Member] \| Zenith Freight Lines [Member]
Note 8 - Notes Payable and Bank Credit Facility (Details) [Line Items]
Debt Instrument, Face Amount	$ 9,000
Debt Instrument, Number of Annual Payments	3
Debt Instrument, Periodic Payment	$ 3,000
Debt Instrument, Interest Rate, Stated Percentage	0.62%
Amortization of Debt Discount (Premium)		78	101
Debt Instrument, Carrying Amount, Current		2,737	2,737
Transportation Equipment Notes Payable [Member]
Note 8 - Notes Payable and Bank Credit Facility (Details) [Line Items]
Secured Debt		3,224	3,224
Secured Debt, Current		1,105	1,105
Long-term Debt		$ 3,224	$ 3,224
Transportation Equipment Notes Payable [Member] \| Minimum [Member]
Note 8 - Notes Payable and Bank Credit Facility (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		3.75%	3.75%
Debt Instrument, Term		17 months
Transportation Equipment Notes Payable [Member] \| Maximum [Member]
Note 8 - Notes Payable and Bank Credit Facility (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		4.50%	4.50%
Debt Instrument, Term		46 months
Transportation Equipment Notes Payable [Member] \| Tractors, Trailers and Local Delivery Trucks [Member]
Note 8 - Notes Payable and Bank Credit Facility (Details) [Line Items]
Debt Instrument, Collateral Amount		$ 4,779	$ 4,779
Real Estate Notes Payable [Member]
Note 8 - Notes Payable and Bank Credit Facility (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		6.73%	6.73%
Long-term Debt		$ 3,415	$ 3,415	2,218
Real Estate Notes Payable, Operated in Retail Segment [Member
Note 8 - Notes Payable and Bank Credit Facility (Details) [Line Items]
Secured Debt, Current		327	327	316
Long-term Debt		2,062	2,062	2,218
Real Estate Notes Payable, Operated in Retail Segment [Member \| Financed Through Commercial Mortgages [Member]
Note 8 - Notes Payable and Bank Credit Facility (Details) [Line Items]
Debt Instrument, Collateral Amount		$ 6,060	$ 6,060	$ 6,127
Real Estate Notes Payable, Operated in Logistical Services Segment [Member]
Note 8 - Notes Payable and Bank Credit Facility (Details) [Line Items]
Debt Instrument, Interest Rate, Stated Percentage		3.75%	3.75%
Secured Debt		$ 1,353	$ 1,353
Secured Debt, Current		260	260
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid		1,004	1,004
Real Estate Notes Payable, Operated in Logistical Services Segment [Member] \| Land and Building [Member]
Note 8 - Notes Payable and Bank Credit Facility (Details) [Line Items]
Debt Instrument, Collateral Amount		$ 6,260	$ 6,260

Note 8 - Notes Payable and Bank Credit Facility (Details) - Real Estate Notes Payable and Bank Debt - USD ($) $ in Thousands	May 30, 2015	Nov. 29, 2014
Note 8 - Notes Payable and Bank Credit Facility (Details) - Real Estate Notes Payable and Bank Debt [Line Items]
Principal Balance	$ 15,639
Unamortized Discount	(463)
Net Carrying Amount	15,176
Less current portion, Principal Balance	(4,691)	$ (316)
Less current portion, Unamortized Discount	263
Less current portion, Net Carrying Amount	(4,428)	(316)
Total long-term debt, Principal Balance	10,948	1,902
Total long-term debt, Unamortized Discount	(200)
Total long-term debt, Net Carrying Amount	10,748	1,902
Zenith Note Payable [Member]
Note 8 - Notes Payable and Bank Credit Facility (Details) - Real Estate Notes Payable and Bank Debt [Line Items]
Principal Balance	9,000
Unamortized Discount	(463)
Net Carrying Amount	8,537
Transportation Equipment Notes Payable [Member]
Note 8 - Notes Payable and Bank Credit Facility (Details) - Real Estate Notes Payable and Bank Debt [Line Items]
Principal Balance	3,224
Net Carrying Amount	3,224
Real Estate Notes Payable [Member]
Note 8 - Notes Payable and Bank Credit Facility (Details) - Real Estate Notes Payable and Bank Debt [Line Items]
Principal Balance	3,415	2,218
Net Carrying Amount	$ 3,415	$ 2,218

Note 8 - Notes Payable and Bank Credit Facility (Details) - Maturities of Notes Payable $ in Thousands	May 30, 2015 USD ($)
Maturities of Notes Payable [Abstract]
Remainder of fiscal 2015	$ 836
Fiscal 2016	5,688
Fiscal 2017	4,329
Fiscal 2018	3,856
Fiscal 2019	526
Fiscal 2020	404
	$ 15,639

Note 9 - Commitments and Contingencies (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Feb. 28, 2015	May 30, 2015	Nov. 29, 2014
Lease Obligations of Licensee Operators [Member]
Note 9 - Commitments and Contingencies (Details) [Line Items]
Loss Contingency, Estimate of Possible Loss (in Dollars)	$ 2,856		$ 3,164
Minimum [Member]
Note 9 - Commitments and Contingencies (Details) [Line Items]
Operating Lease Lease Term		1 year
Renewal Term on Operating Lease		5 years
Lease Guarantees Term	1 year
Maximum [Member]
Note 9 - Commitments and Contingencies (Details) [Line Items]
Operating Lease Lease Term		15 years
Renewal Term on Operating Lease		15 years
Lease Guarantees Term	10 years
Transportation Equipment [Member] \| Minimum [Member]
Note 9 - Commitments and Contingencies (Details) [Line Items]
Lessee Leasing Arrangements, Operating Leases, Term of Contract		2 years
Transportation Equipment [Member] \| Maximum [Member]
Note 9 - Commitments and Contingencies (Details) [Line Items]
Lessee Leasing Arrangements, Operating Leases, Term of Contract		7 years

Note 9 - Commitments and Contingencies (Details) - Future Minimum Lease Payments under the Non-Cancelable Operating Leases $ in Thousands	May 30, 2015 USD ($)
Note 9 - Commitments and Contingencies (Details) - Future Minimum Lease Payments under the Non-Cancelable Operating Leases [Line Items]
Remainder of fiscal 2015	$ 12,345
Fiscal 2016	22,941
Fiscal 2017	19,380
Fiscal 2018	14,259
Fiscal 2019	11,434
Fiscal 2020	9,749
Thereafter	24,629
	114,737
Retail Stores [Member]
Note 9 - Commitments and Contingencies (Details) - Future Minimum Lease Payments under the Non-Cancelable Operating Leases [Line Items]
Remainder of fiscal 2015	9,158
Fiscal 2016	17,126
Fiscal 2017	14,731
Fiscal 2018	12,253
Fiscal 2019	10,359
Fiscal 2020	9,078
Thereafter	24,599
	97,304
Distribution Centers [Member]
Note 9 - Commitments and Contingencies (Details) - Future Minimum Lease Payments under the Non-Cancelable Operating Leases [Line Items]
Remainder of fiscal 2015	1,807
Fiscal 2016	3,386
Fiscal 2017	2,940
Fiscal 2018	1,200
Fiscal 2019	320
	9,653
Transportation Equipment Leases [Member]
Note 9 - Commitments and Contingencies (Details) - Future Minimum Lease Payments under the Non-Cancelable Operating Leases [Line Items]
Remainder of fiscal 2015	1,380
Fiscal 2016	2,429
Fiscal 2017	1,709
Fiscal 2018	806
Fiscal 2019	755
Fiscal 2020	671
Thereafter	30
	$ 7,780

Note 10 - Post Employment Benefit Obligations (Details) - USD ($) $ in Thousands	May 30, 2015	Nov. 29, 2014
Note 10 - Post Employment Benefit Obligations (Details) [Line Items]
Postemployment Benefits Liability, Noncurrent	$ 11,398	$ 11,498
Unfunded Deferred Compensation Plan [Member]
Note 10 - Post Employment Benefit Obligations (Details) [Line Items]
Postemployment Benefits Liability, Noncurrent	2,109	2,174
Supplemental Employee Retirement Plan [Member]
Note 10 - Post Employment Benefit Obligations (Details) [Line Items]
Postemployment Benefits Liability	10,341	10,376
Postemployment Benefits Liability, Noncurrent	$ 9,617	$ 9,652

Note 10 - Post Employment Benefit Obligations (Details) - Pension Liability - USD ($) $ in Thousands	May 30, 2015	Nov. 29, 2014
Note 10 - Post Employment Benefit Obligations (Details) - Pension Liability [Line Items]
Post employment benefit obligations	$ 11,398	$ 11,498
Supplemental Employee Retirement Plan [Member]
Note 10 - Post Employment Benefit Obligations (Details) - Pension Liability [Line Items]
Accrued compensation and benefits	724	724
Post employment benefit obligations	9,617	9,652
Total pension liability	10,341	10,376
Unfunded Deferred Compensation Plan [Member]
Note 10 - Post Employment Benefit Obligations (Details) - Pension Liability [Line Items]
Accrued compensation and benefits	328	328
Post employment benefit obligations	1,781	1,846
Total pension liability	$ 2,109	$ 2,174

Note 10 - Post Employment Benefit Obligations (Details) - Components of Net Periodic Pension Cost - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 30, 2015	May 31, 2014	May 30, 2015	May 31, 2014
Components of Net Periodic Pension Cost [Abstract]
Service cost	$ 26	$ 19	$ 52	$ 39
Interest cost	94	93	187	186
Amortization of transition obligation	11	11	21	22
Amortization of loss	49	31	97	61
Net periodic pension cost	$ 180	$ 154	$ 357	$ 308

Note 10 - Post Employment Benefit Obligations (Details) - Deferred Compensation Arrangement Expenses - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 30, 2015	May 31, 2014	May 30, 2015	May 31, 2014
Deferred Compensation Arrangement Expenses [Abstract]
Deferred compensation expense	$ 54	$ 72	$ 108	$ 144

Note 11 - Earnings Per Share (Details) - Reconciliation of Basic and Diluted Loss Per Share - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	May 30, 2015	May 31, 2014	May 30, 2015	May 31, 2014
Reconciliation of Basic and Diluted Loss Per Share [Abstract]
Basic earnings per share (in Dollars)	$ 4,529	$ 2,551	$ 10,485	$ 3,394
Basic earnings per share	10,678,298	10,621,707	10,579,477	10,656,677
Basic earnings per share (in Dollars per share)	$ 0.42	$ 0.24	$ 0.99	$ 0.32
Add effect of dilutive securities:
Options and restricted shares	165,918	157,573	171,720	151,157
Options and restricted shares (in Dollars per share)			$ (0.01)	$ (0.01)
Diluted earnings per share (in Dollars)	$ 4,529	$ 2,551	$ 10,485	$ 3,394
Diluted earnings per share	10,844,216	10,779,280	10,751,197	10,807,834
Diluted earnings per share (in Dollars per share)	$ 0.42	$ 0.24	$ 0.98	$ 0.31

Note 11 - Earnings Per Share (Details) - Antidilutive Securities - shares	3 Months Ended		6 Months Ended
	May 30, 2015	May 31, 2014	May 30, 2015	May 31, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	6,354	219,839	46,354	273,839
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities		207,500		207,500
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities	6,354	12,339	46,354	66,339

Note 12 - Financial Instruments and Fair Value Measurements (Details) - USD ($) $ in Thousands	6 Months Ended
	May 30, 2015	Nov. 29, 2014
Note 12 - Financial Instruments and Fair Value Measurements (Details) [Line Items]
Short-term Investments	$ 23,125	$ 23,125
Weighted Average Rate Domestic Deposit, Certificates of Deposit	0.21%
Minimum [Member]
Note 12 - Financial Instruments and Fair Value Measurements (Details) [Line Items]
Maturity of Time Deposits	6 months
Weighted Average Rate Domestic Deposit, Certificates of Deposit	0.16%
Maximum [Member]
Note 12 - Financial Instruments and Fair Value Measurements (Details) [Line Items]
Maturity of Time Deposits	12 months
Weighted Average Rate Domestic Deposit, Certificates of Deposit	1.00%
Weighted Average [Member]
Note 12 - Financial Instruments and Fair Value Measurements (Details) [Line Items]
Maturity of Time Deposits	2 months

Note 13 - Asset Disposition, Impairment Charges and Accured Lease Exit Costs (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	May 30, 2015	May 30, 2015	Mar. 12, 2015
Note 13 - Asset Disposition, Impairment Charges and Accured Lease Exit Costs (Details) [Line Items]
Disposal Group, Including Discontinued Operation, Assets			$ 2,835
Gain (Loss) on Contract Termination		$ (419)
Asset Impairment Charges		106
Restructuring Charges	$ 449	449
Income from Continued Dumping and Subsidy Offset Act	1,066	1,066
Sugarland Real Estate [Member]
Note 13 - Asset Disposition, Impairment Charges and Accured Lease Exit Costs (Details) [Line Items]
Impairment of Real Estate	182
Leasehold Improvements [Member]
Note 13 - Asset Disposition, Impairment Charges and Accured Lease Exit Costs (Details) [Line Items]
Asset Impairment Charges		106
Employee Severance [Member]
Note 13 - Asset Disposition, Impairment Charges and Accured Lease Exit Costs (Details) [Line Items]
Restructuring Charges		449
Payments for Restructuring	170
Restructuring Reserve, Current	$ 278	$ 278

Note 13 - Asset Disposition, Impairment Charges and Accured Lease Exit Costs (Details) - Activity Related to Our Accrued Lease Exit Costs - USD ($) $ in Thousands	6 Months Ended
	May 30, 2015	May 30, 2015	Nov. 29, 2014
Activity Related to Our Accrued Lease Exit Costs [Abstract]
Accrued lease exit costs	$ 770
Provisions associated with Company-owned retail store closures	419
Payments and other	(82)
Current portion included in other accrued liabilities		$ 404
Long-term portion included in other long-term liabilities		366
	$ 770	$ 770	$ 433

Note 15 - Segment Information (Details) $ in Thousands	6 Months Ended
Note 15 - Segment Information (Details) $ in Thousands	May 30, 2015 USD ($)
Note 15 - Segment Information (Details) [Line Items]
Number of Reportable Segments	3
Zenith Freight Lines [Member]
Note 15 - Segment Information (Details) [Line Items]
Business Combination, Pro Forma Information, Operating Costs of Acquiree since Acquisition Date, Actual	$ 6,007

Note 15 - Segment Information (Details) - Segment Information for Each of Last Three Fiscal Years - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	May 30, 2015	May 31, 2014	May 30, 2015	May 31, 2014
Sales Revenue
Sales Revenue	$ 111,553	$ 85,185	$ 204,360	$ 160,832
Income (loss) from Operations
Income (loss) from Operations	6,714	3,891	9,591	4,977
Management restructuring costs	(449)		(449)
Lease exit costs			(419)
Asset impairment charges			(106)
Depreciation and Amortization
Depreciation and Amortization	2,583	1,746	4,729	3,438
Capital Expenditures
Capital Expenditures	4,024	5,310	7,942	12,209
Operating Segments [Member] \| Wholesale Segment [Member]
Sales Revenue
Sales Revenue	66,705	56,184	125,510	107,270
Income (loss) from Operations
Income (loss) from Operations	4,796	4,257	7,723	6,605
Depreciation and Amortization
Depreciation and Amortization	504	446	1,038	881
Capital Expenditures
Capital Expenditures	1,384	1,788	2,345	3,225
Operating Segments [Member] \| Retail Segment [Member]
Sales Revenue
Sales Revenue	63,921	53,290	121,104	100,414
Income (loss) from Operations
Income (loss) from Operations	1,971	(666)	1,929	(2,438)
Depreciation and Amortization
Depreciation and Amortization	1,343	1,300	2,698	2,557
Capital Expenditures
Capital Expenditures	1,767	3,522	3,878	8,984
Operating Segments [Member] \| Logistical Services [Member]
Sales Revenue
Sales Revenue	21,958		27,957
Income (loss) from Operations
Income (loss) from Operations	1,027		1,019
Depreciation and Amortization
Depreciation and Amortization	736		993
Capital Expenditures
Capital Expenditures	873		1,719
Intersegment Eliminations [Member]
Income (loss) from Operations
Income (loss) from Operations	(631)	300	(106)	810
Intersegment Eliminations [Member] \| Furniture and Accessories [Member]
Sales Revenue
Sales Revenue	(31,159)	$ (24,289)	(57,600)	$ (46,852)
Intersegment Eliminations [Member] \| Logistical Services [Member]
Sales Revenue
Sales Revenue	$ (9,872)		$ (12,611)

Note 15 - Segment Information (Details) - Segment Information - Indentifiable Assets - USD ($) $ in Thousands	May 30, 2015	Nov. 29, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable Assets	$ 271,983	$ 240,746
Operating Segments [Member] \| Wholesale Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable Assets	136,553	154,275
Operating Segments [Member] \| Retail Segment [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable Assets	90,550	$ 86,471
Operating Segments [Member] \| Logistical Services [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Identifiable Assets	$ 44,880

Label	Element	Value
Operating Segments [Member] \| Retail Segment [Member]
Inventory Valuation Reserves	us-gaap_InventoryValuationReserves	$ 352,000
Operating Segments [Member] \| Wholesale Segment [Member]
Inventory Valuation Reserves	us-gaap_InventoryValuationReserves	$ 1,060,000