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

1.	Description of Business

Bassett Furniture Industries, Incorporated (together with its consolidated subsidiaries, “Bassett”, “we”, “our”, the “Company”) based in Bassett, Virginia, is a leading manufacturer, marketer and retailer of branded home furnishings. Bassett’s full range of furniture products and accessories, designed to provide quality, style and value, are sold through an exclusive nation-wide network of

retail stores known as Bassett Home Furnishings (referred to as “BHF”). Of the

stores, the Company owns and operates

stores (“Company-owned retail stores”) with the other

being independently owned (“licensee operated”). We also distribute our products through other multi-line furniture stores, many of which feature Bassett galleries or design centers, specialty stores and mass merchants.

We sourced approximately

27%

of our wholesale products from various foreign countries, with the remaining volume produced at our

five

domestic manufacturing facilities.

Lane Venture

Acquisition

December 21, 2017,

we purchased certain assets and assumed certain liabilities of Lane Venture from Heritage Home Group, LLC. Lane Venture is being operated as a component of our wholesale segment (see Note

Business Combinations). Results of operations for the Lane Venture business are included in our consolidated statements of income since the date of acquisition.

Note 2 - Significant Accounting Policies

12 Months Ended

Nov. 24, 2018

Significant Accounting Policies [Text Block]

2.	Significant Accounting Policies

Basis of Presentation and Principles of Consolidation

Our fiscal year ends on the last Saturday in

November,

which periodically results in a

-week year. Fiscal

2018,

2017

and

2016

each contained

weeks. The Consolidated Financial Statements include the accounts of Bassett Furniture Industries, Incorporated and our majority-owned subsidiaries in which we have a controlling interest. All significant intercompany balances and transactions are eliminated in consolidation. Accordingly, the results of Lane Venture 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 consolidated statements of net income. The financial statements have been prepared in accordance with generally accepted accounting principles in the United States ("GAAP"). Unless otherwise indicated, references in the Consolidated Financial Statements to fiscal

2018,

2017

and

2016

are to Bassett's fiscal year ended

November 24, 2018,

November 25, 2017

and

November 26, 2016,

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

We analyzed our licensees under the requirements for variable interest entities (“VIEs”). All of these licensees operate as BHF stores and are furniture retailers. We sell furniture to these licensees, and in some cases have extended credit beyond normal terms, made lease guarantees, guaranteed loans, or loaned directly to the licensees. We have recorded reserves for potential exposures related to these licensees. See Note

for disclosure of leases and lease guarantees. Based on financial projections and best available information, all licensees have sufficient equity to carry out their principal operating activities without subordinated financial support. Furthermore, we believe that the power to direct the activities that most significantly impact the licensees’ operating performance continues to lie with the ownership of the licensee dealers. Our rights to assume control over or otherwise influence the licensees’ significant activities only exist pursuant to our license and security agreements and are in the nature of protective rights as contemplated under ASC Topic

810.

We completed our assessment for other potential VIEs, and concluded that there were

none.

We will continue to reassess the status of potential VIEs including when facts and circumstances surrounding each potential VIE change.

Use of Estimates

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

Revenue Recognition

Revenue is recognized when the risks and rewards of ownership and title to the product have transferred to the buyer. This occurs upon the shipment of goods to independent dealers or, in the case of Company-owned retail stores, upon delivery to the customer. We offer terms varying from

days for wholesale customers. For retail sales, we typically collect a significant portion of the purchase price as a customer deposit upon order, with the balance typically collected upon delivery. These deposits are carried on our balance sheet as a current liability until delivery is fulfilled. Estimates for returns and allowances have been recorded as a reduction to revenue. The contracts with our licensee store owners do

not

provide for any royalty or license fee to be paid to us. Revenue is reported net of any taxes collected. For our logistical services segment, line-haul freight revenue and home delivery revenue are recognized upon the completion of delivery to the destination. Warehousing services revenue is based upon warehouse space occupied by a customer’s goods and inventory movements in and out of a warehouse and is recognized as such services are provided.

Staff Accounting Bulletin

No.

104,

Revenue Recognition

(“SAB

104”

) outlines the

four

basic criteria for recognizing revenue as follows: (

) persuasive evidence of an arrangement exists, (

) delivery has occurred or services have been rendered, (

) the seller’s price to the buyer is fixed or determinable, and (

) collectability is reasonably assured. SAB

104

further asserts that if collectability of all or a portion of the revenue is

not

reasonably assured, revenue recognition should be deferred until payment is received. During fiscal

2018,

2017

and

2016,

there were

sales for which these criteria were

not

met.

Cash Equivalents and Short-Term Investments

The Company considers cash on hand, demand deposits in banks and all highly liquid investments with an original maturity of

three

months or less to be cash and cash equivalents. Our short-term investments consist of certificates of deposit that have original maturities of

twelve

months or less but greater than

three

months.

Accounts Receivable

Substantially all of our trade accounts receivable is due from customers located within the United States. We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The allowance for doubtful accounts is based on a review of specifically identified accounts in addition to an overall aging analysis. Judgments are made with respect to the collectibility of accounts receivable based on historical experience and current economic trends. Actual losses could differ from those estimates.

Concentrations of Credit Risk and Major Customers

Financial instruments that subject us to credit risk consist primarily of investments, accounts and notes receivable and financial guarantees. Investments are managed within established guidelines to mitigate risks. Accounts and notes receivable and financial guarantees subject us to credit risk partially due to the concentration of amounts due from and guaranteed on behalf of independent licensee customers. At

November 24, 2018

and

November 25, 2017,

our aggregate exposure from receivables and guarantees related to customers consisted of the following:

	2018		2017
Accounts receivable, net of allowances (Note 5)	$	19,055	$	19,640
Contingent obligations under lease and loan guarantees, less amounts recognized (Note 16)		1,995		2,717
Total credit risk exposure related to customers	$	21,050	$	22,357

November 24, 2018

and

November 25, 2017,

approximately

33%

and

29%,

respectively, of the aggregate risk exposure, net of reserves, shown above was attributable to

five

customers. In fiscal

2018,

2017

and

2016,

customer accounted for more than

10%

of total consolidated net sales. However,

two

customers accounted for approximately

40%,

47%

and

46%

of our consolidated revenue from logistical services during

2018,

2017

and

2016,

respectively.

We have

foreign manufacturing or retail operations. We define export sales as sales to any country or territory other than the United States or its territories or possessions. Our export sales were approximately

$1,587,

$2,288,

and

$3,607

in fiscal

2018,

2017,

and

2016,

respectively. All of our export sales are invoiced and settled in U.S. dollars.

Inventories

Inventories (retail merchandise, finished goods, work in process and raw materials) are stated at the lower of cost or market. Cost is determined for domestic manufactured furniture inventories using the last-in,

first

-out (“LIFO”) method because we believe this methodology provides better matching of revenue and expenses. The cost of imported inventories and Lane Venture product inventories are determined on a

first

-in,

first

-out (“FIFO”) basis. Inventories accounted for under the LIFO method represented

52%

and

54%

of total inventory before reserves at

November 24, 2018

and

November 25, 2017,

respectively. We estimate inventory reserves for excess quantities and obsolete items based on specific identification and historical write-offs, taking into account future demand and market conditions. If actual demand or market conditions in the future are less favorable than those estimated, additional inventory write-downs

may

be required.

Property and Equipment

Property and equipment is comprised of all land, buildings and leasehold improvements and machinery and equipment used in the manufacturing and warehousing of furniture, our Company-owned retail operations, our logistical services operations, and corporate administration. This property and equipment is stated at cost less accumulated depreciation. Depreciation is computed over the estimated useful lives of the respective assets utilizing the straight-line method. Buildings and improvements are generally depreciated over a period of

years. Machinery and equipment are generally depreciated over a period of

years. Leasehold improvements are amortized based on the underlying lease term, or the asset’s estimated useful life, whichever is shorter.

Retail Real Estate

Retail real estate is comprised of owned and leased properties which have in the past been utilized by licensee operated BHF stores and are now leased or subleased to non-licensee tenants. The net book value of our retail real estate at

November 24, 2018

and

November 25, 2017

was

$1,655

and

$1,758,

respectively, and is included in other long-term assets in our consolidated balance sheets. This real estate is stated at cost less accumulated depreciation and is depreciated over the useful lives of the respective assets utilizing the straight line method. Buildings and improvements are generally depreciated over a period of

years. Leasehold improvements are amortized based on the underlying lease term, or the asset’s estimated useful life, whichever is shorter. Depreciation expense was

$103,

$127,

and

$152

in fiscal

2018,

2017,

and

2016,

respectively, and is included in other loss, net, in our consolidated statements of income.

The net book value of our retail real estate at

November 24, 2018

consisted of

one

property located near Charleston, South Carolina which is fully occupied by a tenant under a long term lease. We also own a building in Chesterfield County, Virginia that was formerly leased to a licensee for the operation of a BHF store. The building is subject to a ground lease that expires in

2020,

but has additional renewal options. Since

2012,

we have leased the building to another party who is, as of recently, paying less than the full amount of the lease obligation, resulting in rental income insufficient to cover our ground lease obligation. Efforts to sell our interest in the building have been unsuccessful so far. We have also concluded that absent a significant cash investment in the building the likelihood of locating another tenant for the building at a rent that would provide positive cash flow in excess of the ground lease expense is remote. In addition, we obtained an appraisal during the

second

quarter of fiscal

2017

which indicated that the value of the building had significantly decreased and was now minimal. Given these circumstances, we concluded in the

second

quarter of fiscal

2017

that we are unlikely to renew the ground lease in

2020

and would therefore likely vacate the property at that time. Consequently, we recorded a non-cash impairment charge of

$1,084

during fiscal

2017

to write off the value of the building.

Goodwill

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

In accordance with ASC Topic

350,

Intangibles – Goodwill & Other

the goodwill impairment test consists of a

two

-step process, if necessary. However, we

first

assess qualitative factors to determine whether it is more likely than

not

that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the

two

-step goodwill impairment test described in ASC Topic

350.

The more likely than

not

threshold is defined as having a likelihood of more than

percent. If, after assessing the totality of events or circumstances, we determine that it is

not

more likely than

not

that the fair value of a reporting unit is less than its carrying amount, then performing the

two

-step impairment test is unnecessary and our goodwill is considered to be unimpaired. However, if based on our qualitative assessment we conclude that it is more likely than

not

that the fair value of a reporting unit is less than its carrying amount, we will proceed with performing the

two

-step process. Based on our qualitative assessment as described above, we have concluded that our goodwill is

not

impaired as of

November 24, 2018.

The

first

step compares the carrying value of each reporting unit that has goodwill with the estimated fair value of the respective reporting unit. Should the carrying value of a reporting unit be in excess of the estimated fair value of that reporting unit, the

second

step is performed whereby we must calculate the implied fair value of goodwill by deducting the fair value of all tangible and intangible net assets of the reporting unit from the fair value of the reporting unit. This

second

step represents a hypothetical application of the acquisition method of accounting as if we had acquired the reporting unit on that date. Our impairment methodology uses a discounted cash flow analysis requiring certain assumptions and estimates to be made regarding future profitability of the reporting unit and industry economic factors. While we believe such assumptions and estimates are reasonable, the actual results

may

differ materially from the projected amounts.

Other Intangible Assets

Intangible assets acquired in a business combination and determined to have an indefinite useful life are

not

amortized but are tested for impairment annually or between annual tests when an impairment indicator exists. The recoverability of indefinite-lived intangible assets is assessed by comparison of the carrying value of the asset to its estimated fair value. If we determine that the carrying value of the asset exceeds its estimated fair value, an impairment loss equal to the excess would be recorded.

Definite-lived intangible assets are amortized over their respective estimated useful lives and reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts

may

not

be recoverable. We estimate the useful lives of our intangible assets and ratably amortize the value over the estimated useful lives of those assets. If the estimates of the useful lives should change, we will amortize the remaining book value over the remaining useful lives or, if an asset is deemed to be impaired, a write-down of the value of the asset

may

be required at such time.

Impairment of Long Lived Assets

We periodically evaluate whether events or circumstances have occurred that indicate long-lived assets

may

not

be recoverable or that the remaining useful life

may

warrant revision. When such events or circumstances are present, we assess the recoverability of long-lived assets by determining whether the carrying value will be recovered through the expected undiscounted future cash flows resulting from the use and eventual disposition of the asset. In the event the sum of the expected undiscounted future cash flows is less than the carrying value of the asset, an impairment loss equal to the excess of the asset’s carrying value over its fair value is recorded. Fair value is determined based on discounted cash flows or appraised values depending on the nature of the assets. The long-term nature of these assets requires the estimation of cash inflows and outflows several years into the future.

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

Income Taxes

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

14.

We recognize the tax benefit from an uncertain tax position only if it is more likely than

not

that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. Despite our belief that our liability for unrecognized tax benefits is adequate, it is often difficult to predict the final outcome or the timing of the resolution of any particular tax matters. We

may

adjust these liabilities as relevant circumstances evolve, such as guidance from the relevant tax authority or our tax advisors, or resolution of issues in the courts. These adjustments are recognized as a component of income tax expense in the period in which they are identified.

We evaluate our deferred income tax assets to determine if valuation allowances are required or should be adjusted. A valuation allowance is established against our deferred tax assets based on consideration of all available evidence, both positive and negative, using a “more likely than

not”

standard. This assessment considers, among other matters, the nature, frequency and severity of recent losses, forecasts of future profitability, the duration of statutory carryforward periods, our experience with tax attributes expiring unused and tax planning alternatives. In making such judgments, significant weight is given to evidence that can be objectively verified. See Note

14.

New Store Pre-Opening Costs

Income from operations for fiscal

2018,

2017

and

2016

includes new store pre-opening costs of

$2,081,

$2,413

and

$1,148,

respectively. Such costs consist of expenses incurred at the new store location during the period prior to its opening and include, among other things, facility occupancy costs such as rent and utilities and local store personnel costs related to pre-opening activities including training. New store pre-opening costs do

not

include costs which are capitalized in accordance with our property and equipment capitalization policies, such as leasehold improvements and store fixtures and equipment. Such capitalized costs associated with new stores are depreciated commencing with the opening of the store. There are

pre-opening costs associated with stores acquired from licensees, as such locations were already in operation at the time of their acquisition.

Shipping and Handling Costs

Costs incurred to deliver wholesale merchandise to customers are recorded in selling, general and administrative expense and totaled

$17,511,

$18,514,

and

$18,451

for fiscal

2018,

2017

and

2016,

respectively. Costs incurred to deliver retail merchandise to customers, including the cost of operating regional distribution warehouses, are also recorded in selling, general and administrative expense and totaled

$19,107,

$18,424,

and

$18,094

for fiscal

2018,

2017

and

2016,

respectively.

Advertising

Costs incurred for producing and distributing advertising and advertising materials are expensed when incurred and are included in selling, general and administrative expenses. Advertising costs totaled

$20,922,

$18,834,

and

$16,688

in fiscal

2018,

2017,

and

2016,

respectively.

Insurance Reserves

We have self-funded insurance programs in place to cover workers’ compensation and health insurance. These insurance programs are subject to various stop-loss limitations. We accrue estimated losses using historical loss experience. Although we believe that the insurance reserves are adequate, the reserve estimates are based on historical experience, which

may

not

be indicative of current and future losses. We adjust insurance reserves, as needed, in the event that future loss experience differs from historical loss patterns.

Supplemental Cash Flow Information

There were

material non-cash investing or financing activities during fiscal

2018,

2017

2016.

Recent Accounting Pronouncements

Recently Adopted Pronouncements

July 2015,

the FASB issued Accounting Standards Update

No.

2015

11,

Inventory (Topic

330

Simplifying the Measurement of Inventory

. ASU

2015

requires that inventory within the scope of this Update be measured at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The amendments in this Update do

not

apply to inventory that is measured using last-in,

first

-out (LIFO) or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using

first

-in,

first

-out (FIFO) or average cost. For all entities, the guidance is effective for annual periods, and interim periods within those annual periods, beginning after

December 15, 2016.

Early adoption is permitted. Therefore the amendments in ASU

2015

became effective for us as of the beginning of our

2018

fiscal year. The adoption of this guidance did

not

have a material impact upon our financial condition or results of operations.

February 2018,

the FASB issued Accounting Standards Update

No.

2018

02,

Income Statement—Reporting Comprehensive Income (Topic

220

): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. ASU

2018

was issued to provide narrow-scope guidance for entities that are required to apply the provisions of Topic

220,

Income Statement—Reporting Comprehensive Income, and have items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by GAAP. The amendments in ASU

2018

allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. Consequently, the amendments eliminate the stranded tax effects resulting from the Act and will improve the usefulness of information reported to financial statement users. However, because the amendments only relate to the reclassification of the income tax effects of the Tax Cuts and Jobs Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is

not

affected. The amendments in ASU

2018

are effective for all entities for fiscal years beginning after

December 15, 2018,

and interim periods within those fiscal years. Early adoption of the amendments in this Update is permitted, including adoption in any interim period, (

) for public business entities for reporting periods for which financial statements have

not

yet been issued and (

) for all other entities for reporting periods for which financial statements have

not

yet been made available for issuance. Because the Act has had a significant impact upon the tax effects of pension costs included in our accumulated other comprehensive loss, we have adopted the guidance in ASU

2018

effective as of the beginning of the

first

quarter of fiscal

2018,

resulting in the reclassification of

$545

of tax benefits from accumulated other comprehensive loss to retained earnings (see Note

Recent Pronouncements

Not

Yet Adopted

May 2014,

the FASB issued Accounting Standards Update

No.

2014

(ASU

2014

), 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

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. Companies are allowed to select between

two

transition methods: (

) a full retrospective transition method with the application of the new guidance to each prior reporting period presented, or (

) a retrospective transition method that recognizes the cumulative effect on prior periods at the date of adoption together with additional footnote disclosures. In addition, during

2016

the FASB has issued ASU

2016

08,

ASU

2016

and ASU

2016

12,

all of which clarify certain implementation guidance within ASU

2014

09,

and ASU

2016

11,

which rescinds certain SEC guidance within the ASC effective upon an entity’s adoption of ASU

2014

09.

The amendments in ASU

2014

are effective for annual reporting periods beginning after

December 15, 2017,

including interim periods within that reporting period, and early application is

not

permitted. Therefore the amendments in ASU

2014

will become effective for us as of the beginning of our

2019

fiscal year. In order to evaluate the impact that the adoption of ASU

2014

will have on our consolidated financial statements, we have conducted a comprehensive review of the significant revenue streams across our wholesale, retail and logistical services reportable segments. The focus of this review included, among other things, the identification of the significant contracts and other arrangements we have with our customers to identify significant performance obligations, factors affecting the determination of transaction price, such as variable consideration, and factors affecting the classification of receipts as revenue, such as principal versus agent considerations. Our findings from the review were then analyzed based on the

five

-step model described in the new standard. We are currently finalizing our assessment of the impact that adoption will have on our consolidated financial statements. While we have

not

yet made a final determination as to the impact on our financial position or results of operations, we do anticipate incorporating additional disclosures, primarily related to disaggregation of revenue. We are also in the process of implementing the necessary changes to our accounting policies, procedures and controls with respect to these contracts and arrangements as required by the adoption of ASU

2014

09.

We will adopt this standard as of the beginning of our

2019

fiscal year using the modified retrospective method of adoption. We do

not

expect the adoption of this standard to have a material impact on our financial position or results of operations.

January 2016,

the FASB issued Accounting Standards Update

No.

2016

01,

Financial Instruments - Overall (Subtopic

825

): Recognition and Measurement of Financial Assets and Financial Liabilities

. ASU

2016

requires that equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) are to be measured at fair value with changes in fair value recognized in net income. However, an entity

may

choose to measure equity investments that do

not

have readily determinable fair values at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Furthermore, equity investments without readily determinable fair values are to be assessed for impairment using a quantitative approach. The amendments in ASU

2016

should be applied by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption, with other amendments related specifically to equity securities without readily determinable fair values applied prospectively. The amendments in ASU

2016

will become effective for us as of the beginning of our

2019

fiscal year. The adoption of this guidance is

not

expected to have a material impact upon our financial condition or results of operations.

February 2016,

the FASB issued Accounting Standards Update

No.

2016

02,

Leases (Topic

842

). The guidance in ASU

2016

(as subsequently amended by ASU

2018

01,

ASU

2018

10,

ASU

2018

and ASU

2018

) requires that a lessee recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. For leases with a term of

months or less, a lessee is permitted to make an accounting policy election by class of underlying asset

not

to recognize lease assets and lease liabilities. As with previous guidance, there continues to be a differentiation between finance leases and operating leases, however this distinction now primarily relates to differences in the manner of expense recognition over time and in the classification of lease payments in the statement of cash flows. Lease assets and liabilities arising from both finance and operating leases will be recognized in the statement of financial position. ASU

2016

leaves the accounting for leases by lessors largely unchanged from previous GAAP. The transitional guidance for adopting the requirements of ASU

2016

calls for a modified retrospective approach that includes a number of optional practical expedients that entities

may

elect to apply. In addition, ASU

2018

provides for an additional (and optional) transition method by which entities

may

elect to initially apply the transition requirements in Topic

842

at that Topic’s effective date with the effects of initially applying Topic

842

recognized as a cumulative effect adjustment to the opening balance of retained earnings in the period of adoption and without retrospective application to any comparative prior periods presented. Also, ASU

2018

provides certain narrow-scope improvements to Topic

842

as it relates to lessors. The guidance in ASU

2016

will become effective for us as of the beginning of our

2020

fiscal year. We are currently evaluating the impact that the adoption of ASU

2016

will have on our consolidated financial statements, which we expect will have a material effect on our statement of financial position (refer to Note

for information regarding our leases currently classified as operating leases under ASC Topic

840

). We currently anticipate that we will adopt the guidance of ASU

2016

as of the beginning of our

2020

fiscal year using the optional transition method as provided by ASU

2018

11.

August 2016,

the FASB issued Accounting Standards Update

No.

2016

15,

Statement of Cash Flows (Topic

230

): Classification of Certain Cash Receipts and Cash Payments

. ASU

2016

addresses how certain cash receipts and cash payments are presented and classified in the statement of cash flows with the objective of reducing existing diversity in practice with respect to these items. Among the types of cash flows addressed are payments for costs related to debt prepayments or extinguishments, payments representing accreted interest on discounted debt, payments of contingent consideration after a business combination, proceeds from insurance claims and company-owned life insurance, and distributions from equity method investees, among others. The amendments in ASU

2016

are to be adopted retrospectively and will become effective for as at the beginning of our

2019

fiscal year. Early adoption, including adoption in an interim period, is permitted. The adoption of this guidance is

not

expected to have a material impact upon our presentation of cash flows.

January 2017,

the FASB issued Accounting Standards Update

No.

2017

01,

Business Combinations (Topic

805

): Clarifying the Definition of a Business

. ASU

2017

provides a screen to determine when an integrated set of assets and activities (collectively referred to as a “set”) does

not

constitute a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is

not

a business. This screen reduces the number of transactions that need to be further evaluated. If the screen is

not

met, the amendments in ASU

2017

(

) require that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (

) remove the evaluation of whether a market participant could replace missing elements. The amendments in ASU

2017

shall apply prospectively and will become effective for as at the beginning of our

2019

fiscal year. The adoption of this guidance is

not

expected to have a material impact upon our financial condition or results of operations.

January 2017,

the FASB issued Accounting Standards Update

No.

2017

04,

Intangibles – Goodwill and Other (Topic

350

): Simplifying the Test for Goodwill Impairment

. ASU

2017

eliminates Step

from the goodwill impairment test. Under Step

an entity had to perform procedures to determine the fair value at the impairment testing date of its assets and liabilities (including unrecognized assets and liabilities) following the procedure that would be required in determining the fair value of assets acquired and liabilities assumed in a business combination. Instead, under the amendments in ASU

2017

04,

an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should

not

exceed the total amount of goodwill allocated to that reporting unit. Additionally, an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The amendments in ASU

2017

will become effective for us as of the beginning of our

2021

fiscal year. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after

January 1, 2017.

The adoption of this guidance is

not

expected to have a material impact upon our financial condition or results of operations.

May 2017,

the FASB issued Accounting Standards Update

No.

2017

09,

Compensation – Stock Compensation (Topic

718

): Scope of Modification Accounting

. ASU

2017

was issued to provide clarity and reduce both (

) diversity in practice and (

) cost and complexity when applying the guidance in Topic

718,

Compensation—Stock Compensation, to a change to the terms or conditions of a share-based payment award. The amendments in this Update provide guidance about which changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting in Topic

718.

Essentially, an entity will

not

have to account for the effects of a modification if: (

) The fair value of the modified award is the same immediately before and after the modification; (

) the vesting conditions of the modified award are the same immediately before and after the modification; and (

) the classification of the modified award as either an equity instrument or liability instrument is the same immediately before and after the modification. The amendments in ASU

2017

will become effective for us as of the beginning of our

2019

fiscal year. Early adoption is permitted, including adoption in any interim period. The adoption of this guidance is

not

expected to have a material impact upon our financial condition or results of operations.

August 2018,

the FASB issued Accounting Standards Update

No.

2018

15,

Accounting Standards Update

No.

2018

– Intangibles - Goodwill and Other - Internal-Use Software (Subtopic

350

): Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract, to help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement (hosting arrangement) by providing guidance for determining when the arrangement includes a software license. The amendments in ASU

2018

align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal use software license). The accounting for the service element of a hosting arrangement that is a service contract is

not

affected by the amendments in ASU

2018

15.

The amendments in ASU

2018

will become effective for us as of the beginning of our

2021

fiscal year. Early adoption is permitted, including adoption in any interim period. We are currently evaluating the impact that this guidance will have upon our financial position and results of operations, if any.

Reclassifications

Certain prior year amounts in the consolidated financial statements have been reclassified to conform to current year presentation with

effect on previously reported net income, stockholders' equity or cash flows.

Note 3 - Business Combinations

12 Months Ended

Nov. 24, 2018

Business Combination Disclosure [Text Block]

3.	Business Combination s

Acquisition of Lane Venture

December 21, 2017,

we purchased certain assets and assumed certain liabilities of Lane Venture from Heritage Home Group, LLC for

$15,556

in cash. Lane Venture is a manufacturer and distributor of premium outdoor furniture, and is now being operated as a component of our wholesale segment.

Under the acquisition method of accounting, the fair value of the consideration transferred 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 allocation of the fair value of the acquired business was initially based on a preliminary valuation. Our estimates and assumptions were revised during

2018

as we obtained additional information for our estimates during the measurement period , which we consider to be closed as of

November 24, 2018.

During fiscal

2018,

we recorded measurement period adjustments resulting in a net increase to the opening value of various acquired assets and assumed liabilities with an offsetting reduction of recognized goodwill of

$76.

The final allocation of the

$15,556

all-cash purchase price to the acquired assets and liabilities of the Lane Venture business, including measurement period adjustments, is as follows:

Allocation of the fair value of consideration transferred:
Identifiable assets acquired:
Accounts receivable, net of reserve (Note 5)	$	1,507
Inventory, net of reserve (Note 6)		3,718
Prepaid expenses and other current assets		37
Intangible assets		7,360
Total identifiable assets acquired		12,622
Liabilities assumed:
Accounts payable		(357	)
Other accrued liabilities		(852	)
Total liabilities assumed		(1,209	)
Net identifiable assets acquired		11,413
Goodwill		4,143
Total net assets acquired	$	15,556

Goodwill was determined based on the residual difference between the fair value of the consideration transferred and the value assigned to the tangible and intangible assets and liabilities recognized in connection with the acquisition and is deductible for tax purposes. Among the factors that contributed to a purchase price resulting in the recognition of goodwill are the expected synergies arising from combining the Company’s manufacturing and distribution capabilities with Lane Venture’s position in the outdoor furnishings market, a segment of the market

not

previously served by Bassett.

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

	Useful Life
Description:	In Years		Fair Value

Trade name		Indefinite	$	6,848
Customer relationships		9		512

Total acquired intangible assets			$	7,360

The finite-lived intangible asset is being amortized on a straight-line basis over its estimated useful life. 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

and Level

inputs as specified in the fair value hierarchy in ASC

820,

Fair Value Measurements and Disclosures

. See Note

Acquisition costs related to the Lane Venture acquisition totaled

$256

during the year ended

November 24, 2018,

and are included in selling, general and administrative expenses in the consolidated statements of income. The acquisition costs are primarily related to legal, accounting and valuation services.

The pro forma impact of the acquisition and the results of operations attributable to Lane Venture since the acquisition have

not

been presented because they are

not

material to our consolidated results of operations for the

three

fiscal years ended

November 24, 2018.

Licens

ee Store Acquisition

During the

first

quarter of fiscal

2017,

we acquired the operations of the Bassett Home Furnishings (“BHF”) store located in Columbus, Ohio for a purchase price of

$655.

The store had been owned and operated by a licensee that had determined that continued ownership of a BHF store was

longer consistent with its future business objectives. We believe that Columbus, Ohio represents a viable market for a BHF store.

The purchase price was allocated as follows:

Inventory	$	343
Goodwill		312

Purchase price	$	655

The inputs into our valuation of the acquired assets reflect our market assumptions and are

not

observable. Consequently, the inputs are considered to be Level

inputs as specified in the fair value hierarchy in ASC

820,

Fair Value Measurements and Disclosures. See Note

The pro forma impact of the acquisition and the results of operations for the Columbus store since the acquisition was

not

material to our consolidated results of operations for the year ended

November 25, 2017.

Note 4 - Financial Instruments, Investments and Fair Value Measurements

12 Months Ended

Nov. 24, 2018

Fair Value Disclosures [Text Block]

4.	Financial Instruments, Investments and Fair Value Measurements

Financial Instruments

Our financial instruments include cash and cash equivalents, short-term investments in certificates of deposit, accounts receivable, cost 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.

Investments

Our short-term investments of

$22,643

and

$23,125

November 24, 2018

and

November 25, 2017,

respectively, consisted of certificates of deposit (CDs) with original terms of

six

twelve

months, bearing interest at rates ranging from

0.85%

2.70%.

November 24, 2018,

the weighted average remaining time to maturity of the CDs was approximately

six

months and the weighted average yield of the CDs was approximately

2.3%.

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

November 24, 2018

and

November 25, 2017

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

Inputs

– Quoted prices for identical instruments in active markets.

Level

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

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

) involves Level

inputs. Our primary non-recurring fair value estimates typically involve business acquisitions (Note

) which involve a combination of Level

and Level

inputs, and asset impairments (Note

) which utilize Level

inputs.

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 5 - Accounts Receivable

12 Months Ended

Nov. 24, 2018

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

5.	Accounts Receivable

Accounts receivable consists of the following:

	November 24, 2018			November 25, 2017
Gross accounts receivable	$	19,809		$	20,257
Allowance for doubtful accounts		(754	)		(617	)
Net accounts receivable	$	19,055		$	19,640

Activity in the allowance for doubtful accounts was as follows:

	2018			2017

Balance, beginning of the year	$	617		$	799
Acquired allowance on accounts receivable (Note 3)		50			-
Additions charged to expense (recoveries)		339			(59	)
Reductions to allowance, net		(252	)		(123	)
Balance, end of the year	$	754		$	617

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

as specified in the fair value hierarchy in ASC Topic

820,

Fair Value Measurements and Disclosures

. See Note

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

12 Months Ended

Nov. 24, 2018

Inventory Disclosure [Text Block]

6.	Inventories

Inventories consist of the following:

	November 24, 2018			November 25, 2017
Wholesale finished goods	$	30,750		$	26,145
Work in process		432			388
Raw materials and supplies		15,503			11,808
Retail merchandise		27,599			26,173
Total inventories on first-in, first-out method		74,284			64,514
LIFO adjustment		(8,326	)		(8,143	)
Reserve for excess and obsolete inventory		(1,766	)		(1,895	)
	$	64,192		$	54,476

We source a significant amount of our wholesale product from other countries. During

2018,

2017

and

2016,

purchases from our

two

largest vendors located in Vietnam and China were

$24,073,

$21,977and

$19,128

respectively.

We estimate an inventory reserve for excess quantities and obsolete items based on specific identification and historical write-offs, taking into account future demand, market conditions and the respective valuations at LIFO. The need for these reserves is primarily driven by the normal product life cycle. As products mature and sales volumes decline, we rationalize our prduct offerings to respond to consumer tastes and keep our product lines fresh. If actual demand or market conditions in the future are less favorable than those estimated, additional inventory write-downs

may

be required. In determining reserves, we calculate separate reserves on our wholesale and retail inventories. Our wholesale inventories tend to carry the majority of the reserves for excess quantities and obsolete inventory due to the nature of our distribution model. These wholesale reserves primarily represent design and style obsolescence. Typically, product is

not

shipped to our retail warehouses until a consumer has ordered and paid a deposit for the product. We do

not

typically hold retail inventory for stock purposes. Consequently, floor sample inventory and inventory for delivery to customers account for the majority of our inventory at retail. Retail reserves are based on accessory and clearance floor sample inventory in our stores and any inventory that is

not

associated with a specific customer order in our retail warehouses.

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

	Wholesale Segment			Retail Segment			Total
Balance at November 26, 2016	$	1,061		$	289		$	1,350
Additions charged to expense		1,757			475			2,232
Write-offs		(1,200	)		(487	)		(1,687	)
Balance at November 25, 2017		1,618			277			1,895
Acquired reserve on inventory (Note 3)		110			-			110
Additions charged to expense		1,884			425			2,309
Write-offs		(2,112	)		(436	)		(2,548	)
Balance at November 24, 2018	$	1,500		$	266		$	1,766

Note 7 - Property and Equipment

12 Months Ended

Nov. 24, 2018

Property, Plant and Equipment Disclosure [Text Block]

7.	Property and Equipment

Property and equipment consist of the following:

	November 24, 2018			November 25, 2017
Land	$	9,908		$	10,908
Buildings and leasehold improvements		124,449			117,185
Machinery and equipment		108,379			102,619
Property and equipment at cost		242,736			230,712
Less accumulated depreciation		(137,873	)		(127,468	)
Property and equipment, net	$	104,863		$	103,244

The net book value of our property and equipment by reportable segment is a follows:

	November 24, 2018		November 25, 2017
Wholesale	$	26,511	$	25,277
Retail - Company-owned stores		61,380		58,454
Logistical Services		16,972		19,513
Total property and equipment, net	$	104,863	$	103,244

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

	2018		2017		2016

Cost of goods sold (wholesale segment)	$	1,264	$	989	$	748
Selling, general and adminstrative expenses:
Wholesale segment		1,666		1,531		1,154
Retail segment		7,060		7,080		6,880
Logistical services segment		3,747		3,987		3,614
Total included in selling, general and adminstrative expenses		12,473		12,598		11,648
Total depreciation expense included in income from operations	$	13,737	$	13,587	$	12,396

Note 8 - Goodwill and Other Intangible Assets

12 Months Ended

Nov. 24, 2018

Goodwill and Intangible Assets Disclosure [Text Block]

8.	Goodwill and Other Intangible Assets

Goodwill and other intangible assets consisted of the following:

	November 24, 2018
	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Intangibles subject to amortization:
Customer relationships	$	3,550	$	(829	)	$	2,721
Technology - customized applications		834		(456	)		378

Total intangible assets subject to amortization		4,384		(1,285	)		3,099

Intangibles not subject to amortization:
Trade names		9,338		-			9,338
Goodwill		16,043		-			16,043

Total goodwill and other intangible assets	$	29,765	$	(1,285	)	$	28,480

	November 25, 2017
	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Intangibles subject to amortization:
Customer relationships	$	3,038	$	(574	)	$	2,464
Technology - customized applications		834		(337	)		497

Total intangible assets subject to amortization		3,872		(911	)		2,961

Intangibles not subject to amortization:
Trade names		2,490		-			2,490
Goodwill		11,900		-			11,900

Total goodwill and other intangible assets	$	18,262	$	(911	)	$	17,351

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

	Wholesale		Retail		Logistics		Total

Balance as of November 26, 2016	$	4,839	$	1,820	$	4,929	$	11,588
Goodwill arising from store acquisition (Note 3)		206		106		-		312

Balance as of November 25, 2017		5,045		1,926		4,929		11,900
Goodwill arising from Lane Venture acquisition (Note 3)		4,143		-		-		4,143

Balance as of November 24, 2018	$	9,188	$	1,926	$	4,929	$	16,043

There were

accumulated impairment losses on goodwill as of

November 24, 2018,

November 25, 2017

November 26, 2016.

The weighted average useful lives of our finite-lived intangible assets and remaining amortization periods as of

November 24, 2018

are as follows:

	Useful Life in Years		Remaining Amortization Period in Years

Customer relationships		14		11
Technology - customized applications		7		3

Amortization expense associated with intangible assets during fiscal

2018,

2017

and

2016

was

$374,

$322

and

$322,

respectively and is included in selling, general and administrative expense in our consolidated statement of income. All expense arising from the amortization of intangible assets is associated with our logistical services segment except for

$51

in fiscal

2018

associated with our wholesale segment arising from Lane Venture (Note

). Estimated future amortization expense for intangible assets that exist at

November 24, 2018

is as follows:

Fiscal 2019	$	379
Fiscal 2020		379
Fiscal 2021		379
Fiscal 2022		279
Fiscal 2023		259
Thereafter		1,424

Total	$	3,099

Note 9 - Unconsolidated Affiliated Companies

12 Months Ended

Nov. 24, 2018

Equity Method Investments and Joint Ventures Disclosure [Text Block]

9.	Unconsolidated Affiliated Compan ies

International Market Centers, L.P.

In connection with the sale of our interest in International Home Furnishings Center, Inc. on

May 2, 2011,

we acquired a minority interest in International Market Centers, L.P. (“IMC”) in exchange for

$1,000.

Our investment in IMC was included in other long-term assets in our consolidated balance sheet as of

November 26, 2016

and was accounted for using the cost method as we did

not

have significant influence over IMC. During fiscal

2017

IMC was sold resulting in the redemption of our entire interest for total proceeds of

$1,954

resulting in a gain of

$954

which is included in gain on sale of investments in our consolidated statement of income.

Other

1985,

we acquired a minority interest in a privately-held, start-up provider of property and casualty insurance for

$325.

We have accounted for this investment on the cost method and it was included in other long-term assets in our consolidated balance sheet as of

November 26, 2016.

During fiscal

2017

we sold our entire interest for

$3,592

in cash, resulting in a gain of

$3,267

which is included in gain on sale of investments in our consolidated statement of income.

Note 10 - Notes Payable and Bank Credit Facility

12 Months Ended

Nov. 24, 2018

Debt Disclosure [Text Block]

10.	Notes Payable and Bank Credit Facility

Our notes payable consist of the following:

	November 24, 2018

Real estate notes payable	$	292
Less current portion		(292	)

Total long-term notes payable	$	-

	November 25, 2017
	Principal Balance			Unamortized Discount			Net Carrying Amount

Zenith acquisition note payable	$	3,000		$	(13	)	$	2,987
Real estate notes payable		747			-			747

Total notes payable		3,747			(13	)		3,734
Less current portion		(3,418	)		13			(3,405	)

Total long-term notes payable	$	329		$	-		$	329

All remaining principal outstanding at

November 24, 2018

will mature during fiscal

2019.

Zenith Acquisition Note Payable

The final installment of the Zenith acquisition note was paid in full on

February 2, 2018.

Interest expense resulting from the amortization of the discount was

$13,

$95

and

$204

for fiscal

2018,

2017

and

2016,

respectively.

Real Estate Notes Payable

Two 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

$5,599

and

$5,727

November 24, 2018

and

November 25, 2017,

respectively. The total balance outstanding under these mortgages was

$293

and

$747

November 24, 2018

and

November 25, 2017,

respectively. The current portion of these mortgages due within

one

year was

$293

and

$418

as of

November 24, 2018

and

November 25, 2017,

respectively.

Fair Value

We believe that the carrying amount of our notes payable approximates fair value at both

November 24, 2018

and

November 25, 2017.

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

as specified in the fair value hierarchy in ASC Topic

820,

Fair Value Measurements and Disclosures

. See Note

Bank Credit Facility

Effective

November 15, 2018,

we amended the credit facility with our bank, increasing line of credit of up to

$25,000.

This amended credit facility, which matures in

December

2021,

is unsecured and contains covenants requiring us to maintain certain key financial ratios. We are in compliance with all covenants under the facility and expect to remain in compliance for the foreseeable future.

We have

$2,798

outstanding under standby letters of credit against our line, leaving availability under our credit line of

$22,202.

In addition, we have outstanding standby letters of credit with another bank totaling

$381.

Total interest paid during fiscal

2018,

2017

and

2016

was

$88,

$139

and

$353,

respectively.

Note 11 - Post-employment Benefit Obligations

12 Months Ended

Nov. 24, 2018

Postemployment Benefits Disclosure [Text Block]

11.	Post-Employment Benefit Obligations

Management Savings Plan

May 1, 2017,

our Board of Directors, upon the recommendation of the Organization, Compensation and Nominating Committee (the “Committee”), adopted the Bassett Furniture Industries, Incorporated Management Savings Plan (the “Plan”).The Plan is an unfunded, nonqualified deferred compensation plan maintained for the benefit of certain highly compensated or management level employees.

The Plan is an account-based plan under which (i) participants

may

defer voluntarily the payment of current compensation to future years (“participant deferrals”) and (ii) the Company

may

make annual awards to participants payable in future years (“Company contributions”). The Plan permits each participant to defer up to

75%

of base salary and up to

100%

of any incentive compensation or other bonus, which amounts would be credited to a deferral account established for the participant. Such deferrals will be fully vested at the time of the deferral. Participant deferrals will be indexed to

one

or more deemed investment alternatives chosen by the participant from a range of alternatives made available under the Plan. Each participant’s account will be adjusted to reflect gains and losses based on the performance of the selected investment alternatives. A participant

may

receive distributions from the Plan: (

) upon separation from service, in either a lump sum or annual installment payments over up to a

year period, as elected by the participant, (

) upon death or disability, in a lump sum, or (

) on a date or dates specified by the participant (“scheduled distributions”) with such scheduled payments made in either a lump sum or substantially equal annual installments over a period of up to

five

years, as elected by the participant. Participant contributions commenced during the

third

quarter of fiscal

2017.

Company contributions will vest in full (

) on the

third

anniversary of the date such amounts are credited to the participant’s account, (

) the date that the participant reaches age

or (

) upon death or disability. Company contributions are subject to the same rules described above regarding the crediting of gains or losses from deemed investments and the timing of distributions. Expense associated with the Company contribution was

$102

and

$55

for fiscal

2018

and

2017,

respectively. Our liability for Company contributions and participant deferrals at

November 24, 2018

and

November 25, 2017

was

$749

and

$55,

respectively, and is included in post-employment benefit obligations in our consolidated balance sheets.

May 2, 2017,

we made Long Term Cash Awards (“LTC Awards”) totaling

$2,000

under the Plan to certain management employees in the amount of

$400

each. The LTC Awards vest in full on the

first

anniversary of the date of the award if the participant has reached age

by that time, or, if later, on the date the participant reaches age

63,

provided in either instance that the participant is still employed by the Company at that time. If

not

previously vested, the awards will also vest immediately upon the death or disability of the participant prior to the participant’s separation from service. The awards will be payable in

equal annual installments following the participant’s death, disability or separation from service. We are accounting for the LTC Awards as a defined benefit pension plan.

During fiscal

2018

and

2017,

we invested

$900

and

$431

in life insurance policies covering all participants in the Plan. At

November 24, 2018,

these policies have a net death benefit of

$14,998

for which the Company is the sole beneficiary. These policies are intended to provide a source of funds to meet the obligations arising from the deferred compensation and LTC Awards under the Plan, and serve as an economic hedge of the financial impact of changes in the liabilities. They are held in an irrevocable trust but are subject to claims of creditors in the event of the Company’s insolvency.

Supplemental Retirement Income Plan

We have an unfunded Supplemental Retirement Income Plan (the “Supplemental Plan”) that covers

one

current and certain former executives. Upon retirement, the Supplemental Plan provides for lifetime monthly payments in an amount equal to

65%

of the participant’s final average compensation as defined in the Supplemental Plan, which is reduced by certain social security benefits to be received and other benefits provided by us. The Supplemental Plan also provides a death benefit that is calculated as (a) prior to retirement death, which pays the beneficiary

50%

of final average annual compensation for a period of

120

months, or (b) post-retirement death, which pays the beneficiary

200%

of final average compensation in a single payment. We own life insurance policies on these executives with a current net death benefit of

$2,813

November 24, 2018

and we expect to substantially fund this death benefit through the proceeds received upon the death of the executive. Funding for the remaining cash flows is expected to be provided through operations. There are

benefits payable as a result of a termination of employment for any reason other than death or retirement, other than a change of control provision which provides for the immediate vesting and payment of the retirement benefit under the Supplemental Plan in the event of an employment termination resulting from a change of control.

Aggregated summarized information for the Supplemental Plan and the LTC Awards, measured as of the end of each year presented, is as follows:

	2018			2017
Change in Benefit Obligation:
Projected benefit obligation at beginning of year	$	12,322		$	11,863
Service cost		196			1,117
Interest cost		418			449
Actuarial (gains) losses		(616	)		(447	)
Benefits paid		(668	)		(660	)
Projected benefit obligation at end of year	$	11,652		$	12,322

Accumulated Benefit Obligation	$	11,559		$	11,531

Discount rate used to value the ending benefit obligations:		4.00	%		3.50	%

Amounts recognized in the consolidated balance sheet:
Current liabilities	$	798		$	778
Noncurrent liabilities		10,854			11,544
Total amounts recognized	$	11,652		$	12,322
Amounts recognized in accumulated other comprehensive income:
Transition obligation	$	-		$	42
Prior service cost		806			858
Actuarial loss		2,408			3,286
Net amount recognized	$	3,214		$	4,186

Total recognized in net periodic benefit cost and accumulated other comprehensive income:	$	(2	)	$	1,119

	2018			2017			2016

Components of Net Periodic Pension Cost:
Service cost	$	196		$	146		$	105
Interest cost		418			423			374
Amortization of transition obligation		42			42			42
Amortization of prior service cost		126			-			-
Amortization of other loss		262			323			195

Net periodic pension cost	$	1,044		$	934		$	716


Assumptions used to determine net periodic pension cost:
Discount rate		3.50	%		3.75	%		3.75	%
Increase in future compensation levels		3.00	%		3.00	%		3.00	%

Estimated Future Benefit Payments (with mortality):
Fiscal 2019							798
Fiscal 2020							748
Fiscal 2021							698
Fiscal 2022							1,003
Fiscal 2023							948
Fiscal 2024 through 2028							3,935

Of the

$3,214

recognized in accumulated other comprehensive income at

November 24, 2018,

amounts expected to be recognized as components of net periodic pension cost during fiscal

2019

are as follows:

Prior service cost	$	126
Other loss		184

Total expected to be amortized to net periodic pension cost in 2019	$	310

The components of net periodic pension cost other than the service cost component are included in other loss, net in our consolidated statements of income.

Deferred Compensation Plan

We have an unfunded Deferred Compensation Plan that covers

one

current and certain former executives and provides for voluntary deferral of compensation. This plan has been frozen with

additional participants or benefits permitted. We recognized expense of

$216,

and

$228

in fiscal

2018,

2017,

and

2016,

respectively, associated with the plan. Our liability under this plan was

$1,837

and

$1,916

as of

November 24, 2018

and

November 25, 2017,

respectively. The non-current portion of this obligation is included in post-employment benefit obligations in our consolidated balance sheets, with the current portion included in accrued compensation and benefits.

Defined Contribution Plan

We have a qualified defined contribution plan (Employee Savings/Retirement Plan) that covers substantially all employees who elect to participate and have fulfilled the necessary service requirements. Employee contributions to the Plan are matched at the rate of

25%

of up to

of gross pay, regardless of years of service. Expense for employer matching contributions was

$1,128,

$1,068

and

$865

during fiscal

2018,

2017

and

2016,

respectively. The increase in contribution expense for fiscal

2018

over fiscal

2017

was largely due to a larger contribution base due to general compensation level increases. The increase in contribution expense for fiscal

2017

over fiscal

2016

was largely due to a larger contribution base due to increased incentive compensation.

Note 12 - Accumulated Other Comprehensive Loss

12 Months Ended

Nov. 24, 2018

Comprehensive Income (Loss) Note [Text Block]

12.	Accumulated Other Comprehensive Loss

The activity in accumulated other comprehensive loss for the fiscal years ended

November 24, 2018

and

November 25, 2017,

which is comprised solely of post-retirement benefit costs related to our SERP and LTC Awards, is as follows:

Balance at November 26, 2016	$	(2,553	)
Recognition of prior service cost		(932	)
Actuarial gains		448
Net pension amortization reclassified from accumulated other comprehensive loss		447
Tax effects		20
Balance at November 25, 2017		(2,570	)
Reclassification of certain tax effects to retained earnings (1)		(545	)
Actuarial gains		616
Net pension amortization reclassified from accumulated other comprehensive loss		430
Tax effects		(269	)
Balance at November 24, 2018	$	(2,338	)

(

) See Note

regarding the adoption of ASU

2018

which resulted in the transfer of certain tax effects carried over from prior years to retained earnings as of the beginning of fiscal

2018.

Note 13 - Capital Stock and Stock Compensation

12 Months Ended

Nov. 24, 2018

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

13.	Capital Stock and Stock Compensation

We account for our stock-based employee and director compensation plans in accordance with ASC

718,

Compensation – Stock Compensation

. ASC

718

requires recognition of the cost of employee services received in exchange for an award of equity instruments in the financial statements over the period the employee is required to perform the services in exchange for the award (presumptively the vesting period) which we recognize on a straight-line basis. Compensation expense related to restricted stock and stock options included in selling, general and administrative expenses in our consolidated statements of income for fiscal

2018,

2017

and

2016

was as follows:

	2018		2017		2016

Stock based compensation expense	$	1,133	$	1,028	$	903

Incentive Stock Compensation Plans

April

14,

2010,

our shareholders approved the Bassett Furniture Industries, Incorporated

2010

Stock Incentive Plan which was amended and restated effective

January 13, 2016 (

the

“2010

Plan”). All present and future non-employee directors, key employees and outside consultants for the Company are eligible to receive incentive awards under the

2010

Plan. Our Organization, Compensation and Nominating Committee (the “Compensation Committee”) selects eligible key employees and outside consultants to receive awards under the

2010

Plan in its discretion. Our Board of Directors or any committee designated by the Board of Directors selects eligible non-employee directors to receive awards under the

2010

Plan in its discretion.

1,250,000

shares of common stock are reserved for issuance under the

2010

Plan as amended. Participants

may

receive the following types of incentive awards under the

2010

Plan: stock options, stock appreciation rights, payment shares, restricted stock, restricted stock units and performance shares. Stock options

may

be incentive stock options or non-qualified stock options. Stock appreciation rights

may

be granted in tandem with stock options or as a freestanding award. Non-employee directors and outside consultants are eligible to receive restricted stock and restricted stock units only. We expect to issue new common stock upon the exercise of options.

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

Stock Options

There were

new grants of options made in

2018,

2017

2016.

Changes in the outstanding options under our plans during the year ended

November 24, 2018

were as follows:

	Number of Shares			Weighted Average Exercise Price Per Share

Outstanding at November 25, 2017		11,750		$	8.02
Granted		-			-
Exercised		(3,400	)		8.02
Forfeited/Expired		-			-
Outstanding at November 24, 2018		8,350			8.02
Exercisable at November 24, 2018		8,350		$	8.02

All remaining options outstanding at

November 24, 2018

are exercisable at

$8.02

per share with a remaining contractual life of

2.6

years and an aggregate intrinsic value of

$102.

There were

non-vested options outstanding under our plans during the year ended

November 24, 2018.

Additional information regarding activity in our stock options during fiscal

2018,

2017

and

2016

is as follows:

	2018		2017		2016

Total intrinsic value of options exercised	$	75	$	564	$	124
Total cash received from the exercise of options		27		310		114
Excess tax benefits recognized in income tax expense upon the exercise of options		16		188		41

Restricted Shares

Changes in the outstanding non-vested restricted shares during the year ended

November 24, 2018

were as follows:

	Number of Shares			Weighted Average Grant Date Fair Value Per Share

Non-vested restricted shares outstanding at November 25, 2017		99,138		$	23.87
Granted		45,036			34.41
Vested		(63,138	)		20.92
Forfeited		-			-
Non-vested restricted shares outstanding at November 24, 2018		81,036		$	32.03

Restricted share awards granted in fiscal

2018

included the grant of

36,000

shares on

January 11, 2018

which were subject to a performance condition as well as a service condition. The performance condition was based on a measure of the Company’s operating cash flow for

2018

and has now been satisfied. The awards will remain subject to an additional

two

-year service requirement and will vest on the

third

anniversary of the grant. The remaining grants for

2018

consisted of

6,036

restricted shares granted to our non-employee directors on

March 8, 2018

which will vest on the

first

anniversary of the grant, and

3,000

restricted shares granted to an employee on

October 2, 2018

which will vest on the

third

anniversary of the grant.

During fiscal

2018,

63,138

restricted shares were vested and released, of which

56,600

shares had been granted to employees and

6,538

shares to directors. Of the shares released to employees,

19,810

shares were withheld by the Company to cover withholding taxes of

$674.

During fiscal

2017

and

2016,

21,210

shares and

2,940

shares, respectively, were withheld to cover withholding taxes of

$641

and

$77,

respectively, arising from the vesting of restricted shares. During fiscal

2018,

2017

and

2016,

excess tax benefits of

$207,

$366

and

$46,

respectively, were recognized within income tax expense upon the release of vested shares.

Additional information regarding our outstanding non-vested restricted shares at

November 24, 2018

is as follows:

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


January 10, 2017		36,000	$	29.05	1.1
January 11, 2018		36,000		35.75	2.1
March 8, 2018		6,036		33.07	0.3
October 2, 2018		3,000		20.97	2.9
		81,036

Unrecognized compensation cost related to these non-vested restricted shares at

November 24, 2018

$1,627,

substantially all of which is expected to be recognized over approximately a

two

year period.

Employee Stock Purchase Plan

2000,

we adopted and implemented an Employee Stock Purchase Plan (

“2000

ESPP”) that allows eligible employees to purchase a limited number of shares of our stock at

85%

of market value. Under the

2000

ESPP we sold

8,502

shares to employees in fiscal

2016,

which resulted in an immaterial amount of compensation expense. The

2000

ESPP reached the cumulative number of shares authorized for purchase under the plan during the

third

quarter of fiscal

2016.

March

2017

we adopted and implemented the

2017

Employee Stock Purchase Plan (

“2017

ESPP”) that allows eligible employees to purchase a limited number of shares of our stock at

85%

of market value. Under the

2017

ESPP we sold

14,967

and

6,275

shares to employees during fiscal

2018

and

2017,

respectively, which resulted in an immaterial amount of compensation expense. There are

228,758

shares remaining available for sale under the

2017

ESPP at

November 24, 2018.

Note 14 - Income Taxes

12 Months Ended

Nov. 24, 2018

Income Tax Disclosure [Text Block]

14.	Income Taxes

The components of the income tax provision are as follows:

	2018			2017			2016
Current:
Federal	$	(1,137	)	$	7,887		$	3,728
State		462			2,035			896

Deferred:
Federal		4,747			(200	)		4,559
State		(84	)		(102	)		765
Total	$	3,988		$	9,620		$	9,948

December 22, 2017,

The Tax Cuts and Jobs Act (the “Act”) was signed into law. The Act reduced the federal statutory corporate income tax rate from

35%

21%

effective

January 1, 2018

for all corporate taxpayers, while most other provisions of the Act take effect for fiscal years beginning on or after

January 1, 2018.

Therefore, we computed our income tax expense for fiscal

2018

using a blended federal statutory rate of

22.2%.

The

21%

federal statutory rate, as well as certain other provisions of the Act including the elimination of the domestic manufacturing deduction and new limitations on certain business deductions, will apply to our

2019

fiscal year and thereafter. The federal rate reduction had a significant impact on our provision for income taxes for fiscal

2018

due to a discrete charge of

$1,331

arising from the re-measurement of our deferred tax assets. We believe that our accounting for the income tax effects of the Act is complete as of

November 24, 2018.

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

	2018			2017			2016
Statutory federal income tax rate		22.2	%		35.0	%		35.0	%
Revaluation of deferred tax assets resulting from new enacted rates		10.9			-			-
State income tax, net of federal benefit		4.6			3.9			4.2
Excess tax benefits from stock-based compensation		(1.5	)		(1.8	)		(0.3	)
Other		(3.5	)		(2.6	)		(0.3	)
Effective income tax rate		32.7	%		34.5	%		38.6	%

Excess tax benefits in the amount of

$223,

$554

and

$87

were recognized as a component of income tax expense during fiscal

2018,

2017

and

2016,

respectively, resulting from the exercise of stock options and the release of restricted shares.

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

	November 24, 2018		November 25, 2017
Deferred income tax assets:
Trade accounts receivable	$	192	$	239
Inventories		1,755		2,606
Notes receivable		109		550
Post employment benefit obligations		3,619		5,555
State net operating loss carryforwards		218		583
Unrealized loss from affiliates		15		69
Net deferred rents		3,199		3,906
Other		1,290		1,878
Gross deferred income tax assets		10,397		15,386
Valuation allowance		-		-
Total deferred income tax assets		10,397		15,386

Deferred income tax liabilities:
Property and equipment		5,353		5,426
Intangible assets		1,060		1,185
Prepaid expenses and other		718		382

Total deferred income tax liabilities		7,131		6,993

Net deferred income tax assets	$	3,266	$	8,393

We have state net operating loss carryforwards available to offset future taxable state income of

$4,647,

which expire in varying amounts between

2021

and

2027.

Realization is dependent on generating sufficient taxable income prior to expiration of the loss carryforwards.

Income taxes paid, net of refunds received, during

2018,

2017

and

2016

were

$1,431,

$7,516,

and

$9,949,

respectively.

We regularly evaluate, assess and adjust our accrued liabilities for unrecognized tax benefits in light of changing facts and circumstances, which could cause the effective tax rate to fluctuate from period to period. Our accrued liabilities for uncertain tax benefits at

November 24, 2018

and

November 25, 2017

were

not

material.

Significant judgment is required in evaluating the Company's federal and state tax positions and in the determination of its tax provision. Despite our belief that the liability for unrecognized tax benefits is adequate, it is often difficult to predict the final outcome or the timing of the resolution of any particular tax matter. We

may

adjust these liabilities as relevant circumstances evolve, such as guidance from the relevant tax authority, or resolution of issues in the courts. These adjustments are recognized as a component of income tax expense in the period in which they are identified. The Company also cannot predict when or if any other future tax payments related to these tax positions

may

occur.

We remain subject to examination for tax years

2015

through

2018

for all of our major tax jurisdictions.

Note 15 - Other Gains and Losses

12 Months Ended

Nov. 24, 2018

Other Gains and Losses [Text Block]

15.	Other Gains and Losses

Gain

on Sale

of Retail Store Location

Selling, general and administrative expenses for the year ended

November 24, 2018

includes a gain of

$165

resulting from the sale of our retail store location in Spring, Texas for

$2,463

in cash. The store was closed in

October

2018

and repositioned to a new location serving the Houston market in The Woodlands, Texas, which opened in

November

2018.

Selling, general and administrative expenses for the year ended

November 25, 2017

includes a gain of

$1,220

resulting from the sale of our retail store location in Las Vegas, Nevada for

$4,335

in cash. The store was closed in

August

2017

in preparation for its repositioning to a new location serving the Las Vegas market, in Summerlin, Nevada, which opened in

January

2018.

Income from Antitrust Litigation Settlement

Cost of furniture and accessories sold for the year ended

November 26, 2016

includes the benefit of

$1,428

of income we received from the settlement of class action litigation. This benefit is included in our wholesale segment. We were a member of the certified class of consumers that were plaintiffs in the Polyurethane Foam Antitrust Litigation against various producers of flexible polyurethane foam. The litigation alleged a price-fixing conspiracy in the flexible polyurethane foam industry that caused indirect purchasers to pay higher prices for products that contain flexible polyurethane foam. In

2015

a settlement was reached with several of the producers, though other producers named in the suit filed appeals blocking distribution of the settlement. In

June

2016

the final producer appeal was dismissed and we received

$1,428

in cash representing our share of the settlement, which is included in cash provided by operating activities in our statement of cash flows for the year ended

November 26, 2016.

Asset Impairment Charges and Lease Exit Costs

During fiscal

2018

income from operations included

$469

of non-cash asset impairment charges recognized on the assets of an underperforming retail location in Torrance, California, and a

$301

charge for the accrual of lease exit costs incurred in connection with the closing of a Company-owned retail store location in San Antonio, Texas at the end of fiscal

2018.

There were

asset impairment charges or lease exit costs incurred against income from operations during fiscal

2017

2016.

See Note

regarding non-operating impairment charges incurred in connection with our investments in retail real estate.

Note 16 - Leases and Lease Guarantees

12 Months Ended

Nov. 24, 2018

Leases Lease Guarantees And Loan Guarantees [Text Block]

16.	Leases and Lease Guarantees

Leases

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 retail and logistical services segments. We also lease tractors and trailers used in our logistical services segment and local delivery trucks and service vans used in our retail segment. Our real estate lease terms range from

one

years and generally have renewal options of between

five

and

years. Some store leases contain contingent rental provisions based upon sales volume. Our transportation equipment leases have terms ranging from

two

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

November 24, 2018:

	Retail Stores		Warehousing & Distribution Centers		Transportation Equipment		All Other		Total

Fiscal 2019	$	23,631	$	4,999	$	3,398	$	1,693	$	33,721
Fiscal 2020		23,073		4,127		3,193		1,637		32,030
Fiscal 2021		20,597		3,274		2,176		970		27,017
Fiscal 2022		18,166		3,097		1,444		487		23,194
Fiscal 2023		15,964		1,785		637		-		18,386
Thereafter		50,117		437		558		-		51,112
Total future minimum lease payments	$	151,548	$	17,719	$	11,406	$	4,787	$	185,460

Lease expense was

$38,970,

$34,372

and

$31,867

for

2018,

2017,

and

2016,

respectively. Lease expense for leases with escalating minimum payments over the lease term is recognized on a straight-line basis. Our liability for accrued straight-line rent expense was

$5,844

and

$4,821

November 24, 2018

and

November 25, 2017,

respectively, and is included in other accrued liabilities in our consolidated balance sheets. Improvement allowances received from lessors at the inception of a lease are deferred and amortized over the term of the lease. The unamortized balance of such amounts was

$6,716

and

$5,264

November 24, 2018

and

November 25, 2017,

respectively, with the non-current portion of

$5,715

and

$4,504,

respectively, included in other liabilities in our consolidated balance sheets and the remaining current portion included in other accrued liabilities.

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

Fiscal 2019	$	1,765
Fiscal 2020		1,632
Fiscal 2021		781
Fiscal 2022		422
Fiscal 2023		105
Thereafter		-
Total minimum future rental income	$	4,705

Real estate rental net loss (rental income less lease costs, depreciation, insurance, and taxes), related to licensee stores and other investment real estate, was

$23,

$48

and

$59

2018,

2017

and

2016,

respectively, and is reflected in other loss, net in the accompanying consolidated statements of income.

Guarantees

As part of the strategy for our store program, we have guaranteed certain lease obligations of licensee operators. Lease guarantees range from

one

three

years. We were contingently liable under licensee lease obligation guarantees in the amount of

$2,021

and

$2,743

November 24, 2018

and

November 25, 2017,

respectively.

In the event of default by an independent dealer under the guaranteed lease, we believe that the risk of loss is mitigated through a combination of options that include, but are

not

limited to, arranging for a replacement dealer, liquidating the collateral, and pursuing payment under the personal guarantees of the independent dealer. The proceeds of the above options are estimated to cover the maximum amount of our future payments under the guarantee obligations, net of reserves. The fair value of lease guarantees (an estimate of the cost to the Company to perform on these guarantees) at

November 24, 2018

and

November 25, 2017,

were

not

material.

Note 17 - Contingencies

12 Months Ended

Nov. 24, 2018

Legal Matters and Contingencies [Text Block]

17.	Contingencies

We are involved in various claims and actions which arise in the normal course of business. Although the final outcome of these matters cannot be determined, based on the facts presently known, it is our opinion that the final resolution of these matters will

not

have a material adverse effect on our financial position or future results of operations.

Note 18 - Earnings Per Share

12 Months Ended

Nov. 24, 2018

Earnings Per Share [Text Block]

18.	Earnings Per Share

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

	2018		2017		2016
Numerator:
Net income	$	8,218	$	18,256	$	15,829

Denominator:
Denominator for basic income per share - weighted average shares		10,651,351		10,649,225		10,732,217
Effect of dilutive securities		40,424		82,850		130,204
Denominator for diluted income per share — weighted average shares and assumed conversions		10,691,775		10,732,075		10,862,421

Basic income per share:
Net income per share — basic	$	0.77	$	1.71	$	1.47

Diluted income per share:
Net income per share — diluted	$	0.77	$	1.70	$	1.46

For fiscal

2018,

2017

and

2016,

the following potentially dilutive shares were excluded from the computations as there effect was anti-dilutive:

		2018				2017				2016
Unvested restricted shares			45,036				-				7,814

Note 19 - Segment Information

12 Months Ended

Nov. 24, 2018

Segment Reporting Disclosure [Text Block]

19.	Segment Information

We have strategically aligned our business into

three

reportable segments as defined in ASC

280,

Segment Reporting

, and as described below:

●

Wholesale.

The wholesale home furnishings segment is involved principally in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (Company-owned and licensee-owned stores retail stores) and independent furniture retailers. Our wholesale segment includes our wood and upholstery operations as well as all corporate selling, general and administrative expenses, including those corporate expenses related to both Company- and licensee-owned stores. Our wholesale segment also includes our holdings of short-term investments and retail real estate previously leased as licensee stores. The earnings and costs associated with these assets are included in other loss, net, in our consolidated statements of income.

●

Retail – Company-owned

tores.

Our retail segment consists of Company-owned stores and includes the revenues, expenses, assets and liabilities and capital expenditures directly related to these stores and the Company-owned distribution network utilized to deliver products to our retail customers.

●

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 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 consolidated statement of income. Zenith’s operating costs are included in selling, general and administrative expenses and total

$81,468,

$80,068

and

$79,725

for fiscal

2018,

2017

and

2016,

respectively.

During the

fourth

quarter of fiscal

2018,

we substantially completed transferring operational control of home delivery services for BHF stores from Zenith to our retail segment, including the transfer of the assets and many of the employees used in providing that service. Accordingly, the results for the retail and logistical services segments for all periods presented have been restated to present the depreciation and amortization, capital expenditures and identifiable assets associated with home delivery services formerly provided by Zenith to the Bassett retail segment as though they had been incurred within the retail segment, and intercompany revenues for those services are

longer included in the logistical services segment. The impact of the restatement upon the income (loss) from operations for both the logistical services and retail segments was

not

material. Concurrently with the transfer of home delivery operations to retail, Zenith also ceased providing such services to

third

party customers. Revenues from Zenith’s home delivery services formerly provided to

third

party customers and the associated costs thereof continue to be reported in the logistical services segment. Zenith continues to provide other intercompany shipping and warehousing services to Bassett which are eliminated in consolidation.

Inter-company sales elimination represents the elimination of wholesale sales to our Company-owned stores and the elimination of Zenith logistics revenue from our wholesale segment. 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 operations.

The following table presents segment information for each of the last

three

fiscal years:

	2018			2017			2016
Net Sales
Wholesale	$	255,958		$	249,193		$	240,346
Retail		268,883			268,264			254,667
Logistical services		82,866			83,030			83,236
Inter-company eliminations:
Furniture and accessories		(122,372	)		(119,360	)		(117,817	)
Logistical services		(28,480	)		(28,624	)		(28,394	)
Consolidated	$	456,855		$	452,503		$	432,038

Income (loss) from Operations
Wholesale	$	12,274		$	19,121		$	18,672
Retail		(312	)		3,490			4,333
Logistical services		1,398			2,962			3,511
Inter-company elimination		1,494			1,445			1,677
Lease exit costs		(301	)		-			-
Asset impairment charges		(469	)		-			-
Consolidated income from operations	$	14,084		$	27,018		$	28,193

Depreciation and Amortization
Wholesale	$	3,038		$	2,648		$	2,053
Retail		6,096			6,355			6,260
Logistical services		4,069			4,309			3,936
Consolidated	$	13,203		$	13,312		$	12,249

Capital Expenditures
Wholesale	$	4,194		$	4,875		$	7,232
Retail		12,769			8,108			5,932
Logistical services		1,338			2,517			8,337
Consolidated	$	18,301		$	15,500		$	21,501

Identifiable Assets
Wholesale	$	144,209		$	152,181		$	139,477
Retail		96,241			90,186			90,091
Logistical services		51,191			51,381			48,699
Consolidated	$	291,641		$	293,748		$	278,267

A breakdown of wholesale sales by product category for each of the last

three

fiscal years is provided below:

	2018			2017			2016

Wood		35	%		35	%		37	%
Upholstery		65	%		65	%		63	%
		100	%		100	%		100	%

Note 20 - Quarterly Results of Operations

12 Months Ended

Nov. 24, 2018

Quarterly Financial Information [Text Block]

20.	Quarterly Results of Operations

	2018
	First Quarter (1)			Second Quarter (2)		Third Quarter		Fourth Quarter (3)

Sales revenue:
Furniture and accessories	$	96,123		$	102,675	$	99,807	$	103,864
Logistics		14,149			14,305		13,149		12,783
Total sales revenue		110,272			116,980		112,956		116,647
Cost of furniture and accessories sold		43,269			45,660		44,821		45,831
Income from operations		2,050			5,663		4,324		2,047
Net income (loss)		(913	)		4,289		2,945		1,897
Basic earnings (loss) per share		(0.09	)		0.40		0.28		0.18
Diluted earnings (loss) per share		(0.09	)		0.40		0.28		0.18

	2017
	First Quarter		Second Quarter (4)		Third Quarter (5)		Fourth Quarter (6)

Sales revenue:
Furniture and accessories	$	93,698	$	100,294	$	100,152	$	103,953
Logistics		12,194		13,831		14,109		14,272
Total sales revenue		105,892		114,125		114,261		118,225
Cost of furniture and accessories sold		41,898		44,981		45,320		45,380
Income from operations		4,664		7,600		7,260		7,494
Net income		2,861		5,842		4,579		4,974
Basic earnings per share		0.27		0.55		0.43		0.46
Diluted earnings per share		0.27		0.54		0.43		0.46

All quarters shown above for fiscal

2018

and

2017

consist of

week fiscal periods.

(

)

Net income includes a

$2,157

charge to income tax expense arising from the remeasurement of our deferred tax assets due to the reduction in the Federal statutory income tax rate included in the Tax Cuts and Jobs Act.(see Note

(

)

Income from operations includes a gain of

$165

from the sale of our Spring, Texas retail store Isee Note

). Net income includes a benefit of

$155

in income tax expense arising from additional adjustments to the remeasurement of our deferred tax assets resulting from the Act (see Note

(

)

Income from operations includes a

$469

asset impairment charge related to our Torrance, California retail store and a

$301

charge for lease exit costs related to the closing of a store in San Antonio, Texas (see Note

). Net income includes a

$704

tax benefit arising from the final adjustment to our interim estimates of the impact of reduced federal income tax rates on the valuation of our deferred tax assets (see Note

(

)

Net income includes a gain of

$2,026

from the sale of an investment, net of related income tax effects of approximately

$1,241

(see Note

), and a loss of

$672,

net of related income tax effects of approximately

$412,

resulting from the impairment of retail real estate (see Note

(

)

Income from operations included a gain of

$1,220

from the sale of our Las Vegas, Nevada retail store (see Note

(

)

Net income includes a gain of

$591

from the disposition of our interest in IMC, net of related income tax effects of approximately

$363

(see Note

Schedule II - Analysis of Valuation and Qualifying Accounts

12 Months Ended

Nov. 24, 2018

SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]

Bassett Furniture Industries, Incorporated

Schedule II

Analysis of Valuation and Qualifying Accounts

For the Years Ended

November 24, 2018,

November 25, 2017

and

November 26, 2016

(amounts in thousands)

	Balance Beginning of Period		Additions Charged to Cost and Expenses			Deductions (1)			Other			Balance End of Period
For the Year Ended November 26, 2016:
Reserve deducted from assets to which it applies

Allowance for doubtful accounts	$	1,175	$	(390	)	$	14		$	-		$	799

Notes receivable valuation reserves	$	4,646	$	-		$	(3,192	)	$	-		$	1,454


For the Year Ended November 25, 2017:
Reserve deducted from assets to which it applies

Allowance for doubtful accounts	$	799	$	(59	)	$	(123	)	$	-		$	617

Notes receivable valuation reserves	$	1,454	$	-		$	-		$	-		$	1,454


For the Year Ended November 24, 2018:
Reserve deducted from assets to which it applies

Allowance for doubtful accounts	$	617	$	339		$	(252	)	$	50	(2)	$	754

Notes receivable valuation reserves	$	1,454	$	-		$	(1,077	)	$	-		$	377

(

) Deductions are for the purpose for which the reserve was created.

(

) Represents reserves of acquired business at date of acquisition.

Significant Accounting Policies (Policies)

12 Months Ended

Nov. 24, 2018

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation and Principles of Consolidation

Our fiscal year ends on the last Saturday in

November,

which periodically results in a

-week year. Fiscal

2018,

2017

and

2016

each contained

2018,

2017

and

2016

are to Bassett's fiscal year ended

November 24, 2018,

November 25, 2017

and

November 26, 2016,

810.

We completed our assessment for other potential VIEs, and concluded that there were

none.

We will continue to reassess the status of potential VIEs including when facts and circumstances surrounding each potential VIE change.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Revenue Recognition, Policy [Policy Text Block]

Revenue Recognition

not

Staff Accounting Bulletin

No.

104,

Revenue Recognition

(“SAB

104”

) outlines the

four

basic criteria for recognizing revenue as follows: (

) persuasive evidence of an arrangement exists, (

) delivery has occurred or services have been rendered, (

) the seller’s price to the buyer is fixed or determinable, and (

) collectability is reasonably assured. SAB

104

further asserts that if collectability of all or a portion of the revenue is

not

reasonably assured, revenue recognition should be deferred until payment is received. During fiscal

2018,

2017

and

2016,

there were

sales for which these criteria were

not

met.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash Equivalents and Short-Term Investments

The Company considers cash on hand, demand deposits in banks and all highly liquid investments with an original maturity of

three

months or less to be cash and cash equivalents. Our short-term investments consist of certificates of deposit that have original maturities of

twelve

months or less but greater than

three

months.

Receivables, Policy [Policy Text Block]

Accounts Receivable

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

Concentrations of Credit Risk and Major Customers

November 24, 2018

and

November 25, 2017,

our aggregate exposure from receivables and guarantees related to customers consisted of the following:

	2018		2017
Accounts receivable, net of allowances (Note 5)	$	19,055	$	19,640
Contingent obligations under lease and loan guarantees, less amounts recognized (Note 16)		1,995		2,717
Total credit risk exposure related to customers	$	21,050	$	22,357

November 24, 2018

and

November 25, 2017,

approximately

33%

and

29%,

respectively, of the aggregate risk exposure, net of reserves, shown above was attributable to

five

customers. In fiscal

2018,

2017

and

2016,

customer accounted for more than

10%

of total consolidated net sales. However,

two

customers accounted for approximately

40%,

47%

and

46%

of our consolidated revenue from logistical services during

2018,

2017

and

2016,

respectively.

We have

$1,587,

$2,288,

and

$3,607

in fiscal

2018,

2017,

and

2016,

respectively. All of our export sales are invoiced and settled in U.S. dollars.

Inventory, Policy [Policy Text Block]

Inventories

first

-in,

first

-out (“FIFO”) basis. Inventories accounted for under the LIFO method represented

52%

and

54%

of total inventory before reserves at

November 24, 2018

and

November 25, 2017,

may

be required.

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

Property and Equipment

years. Machinery and equipment are generally depreciated over a period of

years. Leasehold improvements are amortized based on the underlying lease term, or the asset’s estimated useful life, whichever is shorter.

Retail Real Estate [Policy Text Block]

Retail Real Estate

November 24, 2018

and

November 25, 2017

was

$1,655

and

$1,758,

years. Leasehold improvements are amortized based on the underlying lease term, or the asset’s estimated useful life, whichever is shorter. Depreciation expense was

$103,

$127,

and

$152

in fiscal

2018,

2017,

and

2016,

respectively, and is included in other loss, net, in our consolidated statements of income.

The net book value of our retail real estate at

November 24, 2018

consisted of

one

2020,

but has additional renewal options. Since

2012,

second

quarter of fiscal

2017

which indicated that the value of the building had significantly decreased and was now minimal. Given these circumstances, we concluded in the

second

quarter of fiscal

2017

that we are unlikely to renew the ground lease in

2020

and would therefore likely vacate the property at that time. Consequently, we recorded a non-cash impairment charge of

$1,084

during fiscal

2017

to write off the value of the building.

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

Goodwill

In accordance with ASC Topic

350,

Intangibles – Goodwill & Other

the goodwill impairment test consists of a

two

-step process, if necessary. However, we

first

assess qualitative factors to determine whether it is more likely than

not

that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the

two

-step goodwill impairment test described in ASC Topic

350.

The more likely than

not

threshold is defined as having a likelihood of more than

percent. If, after assessing the totality of events or circumstances, we determine that it is

not

more likely than

not

that the fair value of a reporting unit is less than its carrying amount, then performing the

two

-step impairment test is unnecessary and our goodwill is considered to be unimpaired. However, if based on our qualitative assessment we conclude that it is more likely than

not

that the fair value of a reporting unit is less than its carrying amount, we will proceed with performing the

two

-step process. Based on our qualitative assessment as described above, we have concluded that our goodwill is

not

impaired as of

November 24, 2018.

The

first

second

may

differ materially from the projected amounts.

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

Other Intangible Assets

Intangible assets acquired in a business combination and determined to have an indefinite useful life are

not

may

not

may

be required at such time.

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

Impairment of Long Lived Assets

We periodically evaluate whether events or circumstances have occurred that indicate long-lived assets

may

not

be recoverable or that the remaining useful life

may

Income Tax, Policy [Policy Text Block]

Income Taxes

14.

We recognize the tax benefit from an uncertain tax position only if it is more likely than

not

may

not”

14.

New Store Pre Opening Costs [Policy Text Block]

New Store Pre-Opening Costs

Income from operations for fiscal

2018,

2017

and

2016

includes new store pre-opening costs of

$2,081,

$2,413

and

$1,148,

not

pre-opening costs associated with stores acquired from licensees, as such locations were already in operation at the time of their acquisition.

Shipping and Handling Cost, Policy [Policy Text Block]

Shipping and Handling Costs

Costs incurred to deliver wholesale merchandise to customers are recorded in selling, general and administrative expense and totaled

$17,511,

$18,514,

and

$18,451

for fiscal

2018,

2017

and

2016,

$19,107,

$18,424,

and

$18,094

for fiscal

2018,

2017

and

2016,

respectively.

Advertising Costs, Policy [Policy Text Block]

Advertising

$20,922,

$18,834,

and

$16,688

in fiscal

2018,

2017,

and

2016,

respectively.

Liability Reserve Estimate, Policy [Policy Text Block]

Insurance Reserves

may

not

be indicative of current and future losses. We adjust insurance reserves, as needed, in the event that future loss experience differs from historical loss patterns.

Supplemental Cash Flow Information [Policy Text Block]

Supplemental Cash Flow Information

There were

material non-cash investing or financing activities during fiscal

2018,

2017

2016.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

Recently Adopted Pronouncements

July 2015,

the FASB issued Accounting Standards Update

No.

2015

11,

Inventory (Topic

330

Simplifying the Measurement of Inventory

. ASU

2015

not

apply to inventory that is measured using last-in,

first

-out (LIFO) or the retail inventory method. The amendments apply to all other inventory, which includes inventory that is measured using

first

-in,

first

-out (FIFO) or average cost. For all entities, the guidance is effective for annual periods, and interim periods within those annual periods, beginning after

December 15, 2016.

Early adoption is permitted. Therefore the amendments in ASU

2015

became effective for us as of the beginning of our

2018

fiscal year. The adoption of this guidance did

not

have a material impact upon our financial condition or results of operations.

February 2018,

the FASB issued Accounting Standards Update

No.

2018

02,

Income Statement—Reporting Comprehensive Income (Topic

220

): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. ASU

2018

was issued to provide narrow-scope guidance for entities that are required to apply the provisions of Topic

220,

2018

not

affected. The amendments in ASU

2018

are effective for all entities for fiscal years beginning after

December 15, 2018,

and interim periods within those fiscal years. Early adoption of the amendments in this Update is permitted, including adoption in any interim period, (

) for public business entities for reporting periods for which financial statements have

not

yet been issued and (

) for all other entities for reporting periods for which financial statements have

not

2018

effective as of the beginning of the

first

quarter of fiscal

2018,

resulting in the reclassification of

$545

of tax benefits from accumulated other comprehensive loss to retained earnings (see Note

Recent Pronouncements

Not

Yet Adopted

May 2014,

the FASB issued Accounting Standards Update

No.

2014

(ASU

2014

), 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

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

two

transition methods: (

) a full retrospective transition method with the application of the new guidance to each prior reporting period presented, or (

) a retrospective transition method that recognizes the cumulative effect on prior periods at the date of adoption together with additional footnote disclosures. In addition, during

2016

the FASB has issued ASU

2016

08,

ASU

2016

and ASU

2016

12,

all of which clarify certain implementation guidance within ASU

2014

09,

and ASU

2016

11,

which rescinds certain SEC guidance within the ASC effective upon an entity’s adoption of ASU

2014

09.

The amendments in ASU

2014

are effective for annual reporting periods beginning after

December 15, 2017,

including interim periods within that reporting period, and early application is

not

permitted. Therefore the amendments in ASU

2014

will become effective for us as of the beginning of our

2019

fiscal year. In order to evaluate the impact that the adoption of ASU

2014

five

-step model described in the new standard. We are currently finalizing our assessment of the impact that adoption will have on our consolidated financial statements. While we have

not

2014

09.

We will adopt this standard as of the beginning of our

2019

fiscal year using the modified retrospective method of adoption. We do

not

expect the adoption of this standard to have a material impact on our financial position or results of operations.

January 2016,

the FASB issued Accounting Standards Update

No.

2016

01,

Financial Instruments - Overall (Subtopic

825

): Recognition and Measurement of Financial Assets and Financial Liabilities

. ASU

2016

may

choose to measure equity investments that do

not

2016

will become effective for us as of the beginning of our

2019

fiscal year. The adoption of this guidance is

not

expected to have a material impact upon our financial condition or results of operations.

February 2016,

the FASB issued Accounting Standards Update

No.

2016

02,

Leases (Topic

842

). The guidance in ASU

2016

(as subsequently amended by ASU

2018

01,

ASU

2018

10,

ASU

2018

and ASU

2018

months or less, a lessee is permitted to make an accounting policy election by class of underlying asset

not

2016

leaves the accounting for leases by lessors largely unchanged from previous GAAP. The transitional guidance for adopting the requirements of ASU

2016

calls for a modified retrospective approach that includes a number of optional practical expedients that entities

may

elect to apply. In addition, ASU

2018

provides for an additional (and optional) transition method by which entities

may

elect to initially apply the transition requirements in Topic

842

at that Topic’s effective date with the effects of initially applying Topic

842

2018

provides certain narrow-scope improvements to Topic

842

as it relates to lessors. The guidance in ASU

2016

will become effective for us as of the beginning of our

2020

fiscal year. We are currently evaluating the impact that the adoption of ASU

2016

will have on our consolidated financial statements, which we expect will have a material effect on our statement of financial position (refer to Note

for information regarding our leases currently classified as operating leases under ASC Topic

840

). We currently anticipate that we will adopt the guidance of ASU

2016

as of the beginning of our

2020

fiscal year using the optional transition method as provided by ASU

2018

11.

August 2016,

the FASB issued Accounting Standards Update

No.

2016

15,

Statement of Cash Flows (Topic

230

): Classification of Certain Cash Receipts and Cash Payments

. ASU

2016

are to be adopted retrospectively and will become effective for as at the beginning of our

2019

fiscal year. Early adoption, including adoption in an interim period, is permitted. The adoption of this guidance is

not

expected to have a material impact upon our presentation of cash flows.

January 2017,

the FASB issued Accounting Standards Update

No.

2017

01,

Business Combinations (Topic

805

): Clarifying the Definition of a Business

. ASU

2017

provides a screen to determine when an integrated set of assets and activities (collectively referred to as a “set”) does

not

a business. This screen reduces the number of transactions that need to be further evaluated. If the screen is

not

met, the amendments in ASU

2017

(

) require that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (

) remove the evaluation of whether a market participant could replace missing elements. The amendments in ASU

2017

shall apply prospectively and will become effective for as at the beginning of our

2019

fiscal year. The adoption of this guidance is

not

expected to have a material impact upon our financial condition or results of operations.

January 2017,

the FASB issued Accounting Standards Update

No.

2017

04,

Intangibles – Goodwill and Other (Topic

350

): Simplifying the Test for Goodwill Impairment

. ASU

2017

eliminates Step

from the goodwill impairment test. Under Step

2017

04,

not

2017

will become effective for us as of the beginning of our

2021

fiscal year. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after

January 1, 2017.

The adoption of this guidance is

not

expected to have a material impact upon our financial condition or results of operations.

May 2017,

the FASB issued Accounting Standards Update

No.

2017

09,

Compensation – Stock Compensation (Topic

718

): Scope of Modification Accounting

. ASU

2017

was issued to provide clarity and reduce both (

) diversity in practice and (

) cost and complexity when applying the guidance in Topic

718,

718.

Essentially, an entity will

not

have to account for the effects of a modification if: (

) The fair value of the modified award is the same immediately before and after the modification; (

) the vesting conditions of the modified award are the same immediately before and after the modification; and (

) the classification of the modified award as either an equity instrument or liability instrument is the same immediately before and after the modification. The amendments in ASU

2017

will become effective for us as of the beginning of our

2019

fiscal year. Early adoption is permitted, including adoption in any interim period. The adoption of this guidance is

not

expected to have a material impact upon our financial condition or results of operations.

August 2018,

the FASB issued Accounting Standards Update

No.

2018

15,

Accounting Standards Update

No.

2018

– Intangibles - Goodwill and Other - Internal-Use Software (Subtopic

350

2018

not

affected by the amendments in ASU

2018

15.

The amendments in ASU

2018

will become effective for us as of the beginning of our

2021

Reclassification, Policy [Policy Text Block]

Reclassifications

Certain prior year amounts in the consolidated financial statements have been reclassified to conform to current year presentation with

effect on previously reported net income, stockholders' equity or cash flows.

Note 2 - Significant Accounting Policies (Tables)

12 Months Ended

Nov. 24, 2018

Schedule Of Aggregate Exposure From Receivables And Guarantees Related To Customers [Table Text Block]

	2018		2017
Accounts receivable, net of allowances (Note 5)	$	19,055	$	19,640
Contingent obligations under lease and loan guarantees, less amounts recognized (Note 16)		1,995		2,717
Total credit risk exposure related to customers	$	21,050	$	22,357

Note 3 - Business Combinations (Tables)

12 Months Ended

Nov. 24, 2018

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

Allocation of the fair value of consideration transferred:
Identifiable assets acquired:
Accounts receivable, net of reserve (Note 5)	$	1,507
Inventory, net of reserve (Note 6)		3,718
Prepaid expenses and other current assets		37
Intangible assets		7,360
Total identifiable assets acquired		12,622
Liabilities assumed:
Accounts payable		(357	)
Other accrued liabilities		(852	)
Total liabilities assumed		(1,209	)
Net identifiable assets acquired		11,413
Goodwill		4,143
Total net assets acquired	$	15,556

Inventory	$	343
Goodwill		312

Purchase price	$	655

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

	Useful Life
Description:	In Years		Fair Value

Trade name		Indefinite	$	6,848
Customer relationships		9		512

Total acquired intangible assets			$	7,360

Note 5 - Accounts Receivable (Tables)

12 Months Ended

Nov. 24, 2018

Schedule Of Accounts Receivable [Table Text Block]

	November 24, 2018			November 25, 2017
Gross accounts receivable	$	19,809		$	20,257
Allowance for doubtful accounts		(754	)		(617	)
Net accounts receivable	$	19,055		$	19,640

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

	2018			2017

Balance, beginning of the year	$	617		$	799
Acquired allowance on accounts receivable (Note 3)		50			-
Additions charged to expense (recoveries)		339			(59	)
Reductions to allowance, net		(252	)		(123	)
Balance, end of the year	$	754		$	617

Note 6 - Inventories (Tables)

12 Months Ended

Nov. 24, 2018

Schedule of Inventory, Current [Table Text Block]

	November 24, 2018			November 25, 2017
Wholesale finished goods	$	30,750		$	26,145
Work in process		432			388
Raw materials and supplies		15,503			11,808
Retail merchandise		27,599			26,173
Total inventories on first-in, first-out method		74,284			64,514
LIFO adjustment		(8,326	)		(8,143	)
Reserve for excess and obsolete inventory		(1,766	)		(1,895	)
	$	64,192		$	54,476

Activity In Reserves For Excess Quantities And Obsolete Inventory By Segment [Table Text Block]

	Wholesale Segment			Retail Segment			Total
Balance at November 26, 2016	$	1,061		$	289		$	1,350
Additions charged to expense		1,757			475			2,232
Write-offs		(1,200	)		(487	)		(1,687	)
Balance at November 25, 2017		1,618			277			1,895
Acquired reserve on inventory (Note 3)		110			-			110
Additions charged to expense		1,884			425			2,309
Write-offs		(2,112	)		(436	)		(2,548	)
Balance at November 24, 2018	$	1,500		$	266		$	1,766

Note 7 - Property and Equipment (Tables)

12 Months Ended

Nov. 24, 2018

Property, Plant and Equipment [Table Text Block]

	November 24, 2018			November 25, 2017
Land	$	9,908		$	10,908
Buildings and leasehold improvements		124,449			117,185
Machinery and equipment		108,379			102,619
Property and equipment at cost		242,736			230,712
Less accumulated depreciation		(137,873	)		(127,468	)
Property and equipment, net	$	104,863		$	103,244

Schedule of Property Plant and Equipment by Reporting Segment [Table Text Block]

<div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="margin-right: 20%; margin-left: 36pt; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">November 24,</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2018</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">November 25,</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">2017</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 62%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Wholesale</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">26,511</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;">$</td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">25,277</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Retail - Company-owned stores</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">61,380</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">58,454</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Logistical Services</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">16,972</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; border-bottom: 1px solid rgb(0, 0, 0);"> </td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">19,513</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(255, 255, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt; margin-left: 9pt;">Total property and equipment, net</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104,863</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 16%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">103,244</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div>

Schedule of Depreciation [Table Text Block]

	2018		2017		2016

Cost of goods sold (wholesale segment)	$	1,264	$	989	$	748
Selling, general and adminstrative expenses:
Wholesale segment		1,666		1,531		1,154
Retail segment		7,060		7,080		6,880
Logistical services segment		3,747		3,987		3,614
Total included in selling, general and adminstrative expenses		12,473		12,598		11,648
Total depreciation expense included in income from operations	$	13,737	$	13,587	$	12,396

Note 8 - Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Nov. 24, 2018

Schedule of Intangible Assets and Goodwill [Table Text Block]

	November 24, 2018
	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Intangibles subject to amortization:
Customer relationships	$	3,550	$	(829	)	$	2,721
Technology - customized applications		834		(456	)		378

Total intangible assets subject to amortization		4,384		(1,285	)		3,099

Intangibles not subject to amortization:
Trade names		9,338		-			9,338
Goodwill		16,043		-			16,043

Total goodwill and other intangible assets	$	29,765	$	(1,285	)	$	28,480

	November 25, 2017
	Gross Carrying Amount		Accumulated Amortization			Intangible Assets, Net
Intangibles subject to amortization:
Customer relationships	$	3,038	$	(574	)	$	2,464
Technology - customized applications		834		(337	)		497

Total intangible assets subject to amortization		3,872		(911	)		2,961

Intangibles not subject to amortization:
Trade names		2,490		-			2,490
Goodwill		11,900		-			11,900

Total goodwill and other intangible assets	$	18,262	$	(911	)	$	17,351

Schedule of Goodwill [Table Text Block]

	Wholesale		Retail		Logistics		Total

Balance as of November 26, 2016	$	4,839	$	1,820	$	4,929	$	11,588
Goodwill arising from store acquisition (Note 3)		206		106		-		312

Balance as of November 25, 2017		5,045		1,926		4,929		11,900
Goodwill arising from Lane Venture acquisition (Note 3)		4,143		-		-		4,143

Balance as of November 24, 2018	$	9,188	$	1,926	$	4,929	$	16,043

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	Useful Life in Years		Remaining Amortization Period in Years

Customer relationships		14		11
Technology - customized applications		7		3

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

Fiscal 2019	$	379
Fiscal 2020		379
Fiscal 2021		379
Fiscal 2022		279
Fiscal 2023		259
Thereafter		1,424

Total	$	3,099

Note 10 - Notes Payable and Bank Credit Facility (Tables)

12 Months Ended

Nov. 24, 2018

Schedule of Debt [Table Text Block]

	November 24, 2018

Real estate notes payable	$	292
Less current portion		(292	)

Total long-term notes payable	$	-

	November 25, 2017
	Principal Balance			Unamortized Discount			Net Carrying Amount

Zenith acquisition note payable	$	3,000		$	(13	)	$	2,987
Real estate notes payable		747			-			747

Total notes payable		3,747			(13	)		3,734
Less current portion		(3,418	)		13			(3,405	)

Total long-term notes payable	$	329		$	-		$	329

Note 11 - Post-employment Benefit Obligations (Tables)

12 Months Ended

Nov. 24, 2018

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

	2018			2017
Change in Benefit Obligation:
Projected benefit obligation at beginning of year	$	12,322		$	11,863
Service cost		196			1,117
Interest cost		418			449
Actuarial (gains) losses		(616	)		(447	)
Benefits paid		(668	)		(660	)
Projected benefit obligation at end of year	$	11,652		$	12,322

Accumulated Benefit Obligation	$	11,559		$	11,531

Discount rate used to value the ending benefit obligations:		4.00	%		3.50	%

Amounts recognized in the consolidated balance sheet:
Current liabilities	$	798		$	778
Noncurrent liabilities		10,854			11,544
Total amounts recognized	$	11,652		$	12,322
Amounts recognized in accumulated other comprehensive income:
Transition obligation	$	-		$	42
Prior service cost		806			858
Actuarial loss		2,408			3,286
Net amount recognized	$	3,214		$	4,186

Total recognized in net periodic benefit cost and accumulated other comprehensive income:	$	(2	)	$	1,119

Schedule of Net Benefit Costs [Table Text Block]

	2018			2017			2016

Components of Net Periodic Pension Cost:
Service cost	$	196		$	146		$	105
Interest cost		418			423			374
Amortization of transition obligation		42			42			42
Amortization of prior service cost		126			-			-
Amortization of other loss		262			323			195

Net periodic pension cost	$	1,044		$	934		$	716


Assumptions used to determine net periodic pension cost:
Discount rate		3.50	%		3.75	%		3.75	%
Increase in future compensation levels		3.00	%		3.00	%		3.00	%

Schedule of Expected Benefit Payments [Table Text Block]

Estimated Future Benefit Payments (with mortality):
Fiscal 2019							798
Fiscal 2020							748
Fiscal 2021							698
Fiscal 2022							1,003
Fiscal 2023							948
Fiscal 2024 through 2028							3,935

Schedule of Defined Benefit Plan, Expected Amortization, Next Fiscal Year [Table Text Block]

Prior service cost	$	126
Other loss		184

Total expected to be amortized to net periodic pension cost in 2019	$	310

Note 12 - Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Nov. 24, 2018

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

Balance at November 26, 2016	$	(2,553	)
Recognition of prior service cost		(932	)
Actuarial gains		448
Net pension amortization reclassified from accumulated other comprehensive loss		447
Tax effects		20
Balance at November 25, 2017		(2,570	)
Reclassification of certain tax effects to retained earnings (1)		(545	)
Actuarial gains		616
Net pension amortization reclassified from accumulated other comprehensive loss		430
Tax effects		(269	)
Balance at November 24, 2018	$	(2,338	)

Note 13 - Capital Stock and Stock Compensation (Tables)

12 Months Ended

Nov. 24, 2018

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

	2018		2017		2016

Stock based compensation expense	$	1,133	$	1,028	$	903

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

	Number of Shares			Weighted Average Exercise Price Per Share

Outstanding at November 25, 2017		11,750		$	8.02
Granted		-			-
Exercised		(3,400	)		8.02
Forfeited/Expired		-			-
Outstanding at November 24, 2018		8,350			8.02
Exercisable at November 24, 2018		8,350		$	8.02

Schedule of Share-based Compensation, Summary of Additional Stock Option Information [Table Text Block]

	2018		2017		2016

Total intrinsic value of options exercised	$	75	$	564	$	124
Total cash received from the exercise of options		27		310		114
Excess tax benefits recognized in income tax expense upon the exercise of options		16		188		41

Schedule of Nonvested Share Activity [Table Text Block]

	Number of Shares			Weighted Average Grant Date Fair Value Per Share

Non-vested restricted shares outstanding at November 25, 2017		99,138		$	23.87
Granted		45,036			34.41
Vested		(63,138	)		20.92
Forfeited		-			-
Non-vested restricted shares outstanding at November 24, 2018		81,036		$	32.03

Share-based Compensation Arrangements by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest [Table Text Block]

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


January 10, 2017		36,000	$	29.05	1.1
January 11, 2018		36,000		35.75	2.1
March 8, 2018		6,036		33.07	0.3
October 2, 2018		3,000		20.97	2.9
		81,036

Note 14 - Income Taxes (Tables)

12 Months Ended

Nov. 24, 2018

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

	2018			2017			2016
Current:
Federal	$	(1,137	)	$	7,887		$	3,728
State		462			2,035			896

Deferred:
Federal		4,747			(200	)		4,559
State		(84	)		(102	)		765
Total	$	3,988		$	9,620		$	9,948

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

	2018			2017			2016
Statutory federal income tax rate		22.2	%		35.0	%		35.0	%
Revaluation of deferred tax assets resulting from new enacted rates		10.9			-			-
State income tax, net of federal benefit		4.6			3.9			4.2
Excess tax benefits from stock-based compensation		(1.5	)		(1.8	)		(0.3	)
Other		(3.5	)		(2.6	)		(0.3	)
Effective income tax rate		32.7	%		34.5	%		38.6	%

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

	November 24, 2018		November 25, 2017
Deferred income tax assets:
Trade accounts receivable	$	192	$	239
Inventories		1,755		2,606
Notes receivable		109		550
Post employment benefit obligations		3,619		5,555
State net operating loss carryforwards		218		583
Unrealized loss from affiliates		15		69
Net deferred rents		3,199		3,906
Other		1,290		1,878
Gross deferred income tax assets		10,397		15,386
Valuation allowance		-		-
Total deferred income tax assets		10,397		15,386

Deferred income tax liabilities:
Property and equipment		5,353		5,426
Intangible assets		1,060		1,185
Prepaid expenses and other		718		382

Total deferred income tax liabilities		7,131		6,993

Net deferred income tax assets	$	3,266	$	8,393

Note 16 - Leases and Lease Guarantees (Tables)

12 Months Ended

Nov. 24, 2018

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

	Retail Stores		Warehousing & Distribution Centers		Transportation Equipment		All Other		Total

Fiscal 2019	$	23,631	$	4,999	$	3,398	$	1,693	$	33,721
Fiscal 2020		23,073		4,127		3,193		1,637		32,030
Fiscal 2021		20,597		3,274		2,176		970		27,017
Fiscal 2022		18,166		3,097		1,444		487		23,194
Fiscal 2023		15,964		1,785		637		-		18,386
Thereafter		50,117		437		558		-		51,112
Total future minimum lease payments	$	151,548	$	17,719	$	11,406	$	4,787	$	185,460

Schedule Of Future Rental Income [Table Text Block]

Fiscal 2019	$	1,765
Fiscal 2020		1,632
Fiscal 2021		781
Fiscal 2022		422
Fiscal 2023		105
Thereafter		-
Total minimum future rental income	$	4,705

Note 18 - Earnings Per Share (Tables)

12 Months Ended

Nov. 24, 2018

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

	2018		2017		2016
Numerator:
Net income	$	8,218	$	18,256	$	15,829

Denominator:
Denominator for basic income per share - weighted average shares		10,651,351		10,649,225		10,732,217
Effect of dilutive securities		40,424		82,850		130,204
Denominator for diluted income per share — weighted average shares and assumed conversions		10,691,775		10,732,075		10,862,421

Basic income per share:
Net income per share — basic	$	0.77	$	1.71	$	1.47

Diluted income per share:
Net income per share — diluted	$	0.77	$	1.70	$	1.46

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

		2018				2017				2016
Unvested restricted shares			45,036				-				7,814

Note 19 - Segment Information (Tables)

12 Months Ended

Nov. 24, 2018

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

	2018			2017			2016
Net Sales
Wholesale	$	255,958		$	249,193		$	240,346
Retail		268,883			268,264			254,667
Logistical services		82,866			83,030			83,236
Inter-company eliminations:
Furniture and accessories		(122,372	)		(119,360	)		(117,817	)
Logistical services		(28,480	)		(28,624	)		(28,394	)
Consolidated	$	456,855		$	452,503		$	432,038

Income (loss) from Operations
Wholesale	$	12,274		$	19,121		$	18,672
Retail		(312	)		3,490			4,333
Logistical services		1,398			2,962			3,511
Inter-company elimination		1,494			1,445			1,677
Lease exit costs		(301	)		-			-
Asset impairment charges		(469	)		-			-
Consolidated income from operations	$	14,084		$	27,018		$	28,193

Depreciation and Amortization
Wholesale	$	3,038		$	2,648		$	2,053
Retail		6,096			6,355			6,260
Logistical services		4,069			4,309			3,936
Consolidated	$	13,203		$	13,312		$	12,249

Capital Expenditures
Wholesale	$	4,194		$	4,875		$	7,232
Retail		12,769			8,108			5,932
Logistical services		1,338			2,517			8,337
Consolidated	$	18,301		$	15,500		$	21,501

Identifiable Assets
Wholesale	$	144,209		$	152,181		$	139,477
Retail		96,241			90,186			90,091
Logistical services		51,191			51,381			48,699
Consolidated	$	291,641		$	293,748		$	278,267

Schedule Of Breakdown Of Wholesale Sales By Product Category [Table Text Block]

	2018			2017			2016

Wood		35	%		35	%		37	%
Upholstery		65	%		65	%		63	%
		100	%		100	%		100	%

Note 20 - Quarterly Results of Operations (Tables)

12 Months Ended

Nov. 24, 2018

Quarterly Financial Information [Table Text Block]

	2018
	First Quarter (1)			Second Quarter (2)		Third Quarter		Fourth Quarter (3)

Sales revenue:
Furniture and accessories	$	96,123		$	102,675	$	99,807	$	103,864
Logistics		14,149			14,305		13,149		12,783
Total sales revenue		110,272			116,980		112,956		116,647
Cost of furniture and accessories sold		43,269			45,660		44,821		45,831
Income from operations		2,050			5,663		4,324		2,047
Net income (loss)		(913	)		4,289		2,945		1,897
Basic earnings (loss) per share		(0.09	)		0.40		0.28		0.18
Diluted earnings (loss) per share		(0.09	)		0.40		0.28		0.18

	2017
	First Quarter		Second Quarter (4)		Third Quarter (5)		Fourth Quarter (6)

Sales revenue:
Furniture and accessories	$	93,698	$	100,294	$	100,152	$	103,953
Logistics		12,194		13,831		14,109		14,272
Total sales revenue		105,892		114,125		114,261		118,225
Cost of furniture and accessories sold		41,898		44,981		45,320		45,380
Income from operations		4,664		7,600		7,260		7,494
Net income		2,861		5,842		4,579		4,974
Basic earnings per share		0.27		0.55		0.43		0.46
Diluted earnings per share		0.27		0.54		0.43		0.46

Schedule II - Analysis of Valuation and Qualifying Accounts (Tables)

12 Months Ended

Nov. 24, 2018

Summary of Valuation Allowance [Table Text Block]

	Balance Beginning of Period		Additions Charged to Cost and Expenses			Deductions (1)			Other			Balance End of Period
For the Year Ended November 26, 2016:
Reserve deducted from assets to which it applies

Allowance for doubtful accounts	$	1,175	$	(390	)	$	14		$	-		$	799

Notes receivable valuation reserves	$	4,646	$	-		$	(3,192	)	$	-		$	1,454


For the Year Ended November 25, 2017:
Reserve deducted from assets to which it applies

Allowance for doubtful accounts	$	799	$	(59	)	$	(123	)	$	-		$	617

Notes receivable valuation reserves	$	1,454	$	-		$	-		$	-		$	1,454


For the Year Ended November 24, 2018:
Reserve deducted from assets to which it applies

Allowance for doubtful accounts	$	617	$	339		$	(252	)	$	50	(2)	$	754

Notes receivable valuation reserves	$	1,454	$	-		$	(1,077	)	$	-		$	377

Note 1 - Description of Business (Details Textual)	Nov. 24, 2018
Number of Stores	97
Percent Of Wholesale Products Sourced From Other Countries	27.00%
Number Of Domestic Manufacturing Facilities	5
Company-owned Retail Stores [Member]
Number of Stores	65
Licensee Operated Retail Stores [Member]
Number of Stores	32

Note 2 - Significant Accounting Policies (Details Textual)
$ in Thousands

3 Months Ended

12 Months Ended

Nov. 24, 2018

USD ($)

Aug. 25, 2018

USD ($)

May 26, 2018

USD ($)

^[2]

Feb. 24, 2018

USD ($)

^[3]

Nov. 25, 2017

USD ($)

Aug. 26, 2017

USD ($)

^[5]

May 27, 2017

USD ($)

^[6]

Feb. 25, 2017

USD ($)

Nov. 24, 2018

USD ($)

Nov. 25, 2017

USD ($)

Nov. 26, 2016

USD ($)

Percent Of Aggregate Risk Exposure Net Of Reserves Attributable To Major Customers

33.00%

29.00%

33.00%

29.00%

Percentage of LIFO Inventory

$ 116,647

^[1]

$ 112,956

$ 116,980

$ 110,272

$ 118,225

^[4]

$ 114,261

$ 114,125

$ 105,892

$ 456,855

$ 452,503

$ 432,038

52.00%

54.00%

52.00%

54.00%

Depreciation, Total

$ 13,737

$ 13,587

12,396

Impairment of Real Estate

1,084

Goodwill, Impairment Loss

Pre-Opening Costs

2,081

2,413

1,148

Advertising Expense

20,922

18,834

16,688

Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income to Retained Earnings Per ASU 2018-02

ASU 2018-02 [Member]

Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income to Retained Earnings Per ASU 2018-02

545

Deliver Wholesale Merchandise to Customers [Member]

Selling, General and Administrative Expense, Delivery Costs

$ 17,511

$ 18,514

17,511

18,514

18,451

Deliver Retail Merchandise to Customers [Member]

Selling, General and Administrative Expense, Delivery Costs

19,107

18,424

19,107

18,424

18,094

Other Noncurrent Assets [Member]

Real Estate Investment Property, Net, Total

$ 1,655

$ 1,758

1,655

1,758

Retail Real Estate [Member]

Depreciation, Total

103

127

152

Non-US [Member]

Customer Concentration Risk [Member] | Sales Revenue, Net [Member]

$ 1,587

$ 2,288

$ 3,607

Number of Major Customers

Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Logistical Services [Member]

Number of Major Customers

Concentration Risk, Percentage

40.00%

47.00%

46.00%

Minimum [Member]

Payment Terms For Wholesale Customers

30 days

Minimum [Member] | Building and Building Improvements [Member]

Minimum [Member] | Machinery and Equipment [Member]

10 years

Minimum [Member] | Retail Buildings And Improvements [Member]

5 years

Payment Terms For Wholesale Customers

10 years

Maximum [Member]

60 days

Maximum [Member] | Building and Building Improvements [Member]

Maximum [Member] | Machinery and Equipment [Member]

39 years

Maximum [Member] | Retail Buildings And Improvements [Member]

10 years

39 years

[1]	Income from operations includes a $469 asset impairment charge related to our Torrance, California retail store and a $301 charge for lease exit costs related to the closing of a store in San Antonio, Texas (see Note 15). Net income includes a $704 tax benefit arising from the final adjustment to our interim estimates of the impact of reduced federal income tax rates on the valuation of our deferred tax assets (see Note 14).
[2]	Income from operations includes a gain of $165 from the sale of our Spring, Texas retail store Isee Note 15). Net income includes a benefit of $155 in income tax expense arising from additional adjustments to the remeasurement of our deferred tax assets resulting from the Act (see Note 14).
[3]	Net income includes a $2,157 charge to income tax expense arising from the remeasurement of our deferred tax assets due to the reduction in the Federal statutory income tax rate included in the Tax Cuts and Jobs Act.(see Note 14).
[4]	Net income includes a gain of $591 from the disposition of our interest in IMC, net of related income tax effects of approximately $363 (see Note 9).
[5]	Income from operations included a gain of $1,220 from the sale of our Las Vegas, Nevada retail store (see Note 15).
[6]	Net income includes a gain of $2,026 from the sale of an investment, net of related income tax effects of approximately $1,241 (see Note 9), and a loss of $672, net of related income tax effects of approximately $412, resulting from the impairment of retail real estate (see Note 2).

Note 2 - Significant Accounting Policies - Aggregate Exposure from Receivables and Guarantees Related to Customers (Details) - USD ($) $ in Thousands	Nov. 24, 2018	Nov. 25, 2017
Accounts receivable, net of allowances (Note 5)	$ 19,055	$ 19,640
Contingent obligations under lease and loan guarantees, less amounts recognized (Note 16)	1,995	2,717
Total credit risk exposure related to customers	$ 21,050	$ 22,357

Note 3 - Business Combinations (Details Textual) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Dec. 21, 2017	Feb. 25, 2017	Nov. 24, 2018
Acquisition of Lane Venture [Member]
Payments to Acquire Businesses, Gross	$ 15,556
Goodwill, Purchase Accounting Adjustments			$ (76)
Acquisition of Lane Venture [Member] \| Selling, General and Administrative Expenses [Member]
Business Combination, Acquisition Related Costs			$ 256
Bassett Home Furnishings, Columbus, Ohio [Member]
Business Combination, Consideration Transferred, Total		$ 655

Note 3 - Business Combinations - Acquisitions (Details) - USD ($) $ in Thousands	Nov. 24, 2018	Dec. 21, 2017	Nov. 25, 2017	Feb. 25, 2017	Nov. 26, 2016
Goodwill	$ 16,043		$ 11,900		$ 11,588
Bassett Home Furnishings, Columbus, Ohio [Member]
Inventory				$ 343
Goodwill				312
Purchase price				$ 655
Acquisition of Lane Venture [Member]
Accounts receivable, net of reserve (Note 5)		$ 1,507
Inventory		3,718
Prepaid expenses and other current assets		37
Intangible assets		7,360
Total identifiable assets acquired		12,622
Accounts payable		(357)
Other accrued liabilities		(852)
Total liabilities assumed		(1,209)
Net identifiable assets acquired		11,413
Goodwill		4,143
Total net assets acquired		$ 15,556

Note 3 - Business Combinations - Acquired Identifiable Intangible Assets (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 21, 2017	Nov. 24, 2018
Customer Relationships [Member]
Useful Life (Year)		14 years
Acquisition of Lane Venture [Member]
Fair Value	$ 7,360
Acquisition of Lane Venture [Member] \| Customer Relationships [Member]
Fair Value	$ 512
Useful Life (Year)	9 years
Acquisition of Lane Venture [Member] \| Trade Names [Member]
Fair Value	$ 6,848

Note 4 - Financial Instruments, Investments and Fair Value Measurements (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017
Short-term Investments, Total	$ 22,643	$ 23,125
Minimum [Member]
Certificates of Deposit Terms	180 days
Interest Rate of Certificates of Deposit	0.85%
Maximum [Member]
Certificates of Deposit Terms	1 year
Interest Rate of Certificates of Deposit	2.70%
Weighted Average [Member]
Certificates of Deposit Terms	180 days
Interest Rate of Certificates of Deposit	2.30%

Note 5 - Accounts Receivable - Accounts Receivable (Details) - USD ($) $ in Thousands	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Gross accounts receivable	$ 19,809	$ 20,257
Allowance for doubtful accounts	(754)	(617)	$ (799)
Net accounts receivable	$ 19,055	$ 19,640

Note 5 - Accounts Receivable - Activity in Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017
Balance, beginning	$ 617	$ 799
Acquired allowance on accounts receivable (Note 3)	50
Additions charged to expense (recoveries)	339	(59)
Reductions to allowance, net	(252)	(123)
Balance, ending	$ 754	$ 617

Note 6 - Inventories (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Purchases From Major Vendors	$ 24,073	$ 21,977	$ 19,128

Note 6 - Inventories - Inventories (Details) - USD ($) $ in Thousands	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Wholesale finished goods	$ 30,750	$ 26,145
Work in process	432	388
Raw materials and supplies	15,503	11,808
Retail merchandise	27,599	26,173
Total inventories on first-in, first-out method	74,284	64,514
LIFO adjustment	(8,326)	(8,143)
Reserve for excess and obsolete inventory	(1,766)	(1,895)	$ (1,350)
Inventory, net	$ 64,192	$ 54,476

Note 6 - Inventories - Activity in Reserves for Excess Quantities and Obsolete Inventory by Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017
Balance	$ 1,895	$ 1,350
Additions charged to expense	2,309	2,232
Write-offs	(2,548)	(1,687)
Acquired reserve on inventory (Note 3)	110
Balance	1,766	1,895
Operating Segments [Member] \| Wholesale Segment [Member]
Balance	1,618	1,061
Additions charged to expense	1,884	1,757
Write-offs	(2,112)	(1,200)
Acquired reserve on inventory (Note 3)	110
Balance	1,500	1,618
Operating Segments [Member] \| Retail Segment [Member]
Balance	277	289
Additions charged to expense	425	475
Write-offs	(436)	(487)
Acquired reserve on inventory (Note 3)
Balance	$ 266	$ 277

Note 7 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands	Nov. 24, 2018	Nov. 25, 2017
Land	$ 9,908	$ 10,908
Buildings and leasehold improvements	124,449	117,185
Machinery and equipment	108,379	102,619
Property and equipment at cost	242,736	230,712
Less accumulated depreciation	(137,873)	(127,468)
Property and equipment, net	$ 104,863	$ 103,244

Note 7 - Property and Equipment - Summary of Reportable Segment Property and Equipment (Details) - USD ($) $ in Thousands	Nov. 24, 2018	Nov. 25, 2017
Property and equipment, net	$ 104,863	$ 103,244
Wholesale Segment [Member]
Property and equipment, net	26,511	25,277
Retail Segment [Member]
Property and equipment, net	61,380	58,454
Logistical Services [Member]
Property and equipment, net	$ 16,972	$ 19,513

Note 7 - Property and Equipment - Depreciation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Depreciation expense	$ 13,737	$ 13,587	$ 12,396
Cost of Sales [Member]
Depreciation expense	1,264	989	748
Selling, General and Administrative Expenses [Member]
Depreciation expense	12,473	12,598	11,648
Selling, General and Administrative Expenses [Member] \| Wholesale Segment [Member]
Depreciation expense	1,666	1,531	1,154
Selling, General and Administrative Expenses [Member] \| Retail Segment [Member]
Depreciation expense	7,060	7,080	6,880
Selling, General and Administrative Expenses [Member] \| Logistical Services [Member]
Depreciation expense	$ 3,747	$ 3,987	$ 3,614

Note 8 - Goodwill and Other Intangible Assets (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Goodwill, Impaired, Accumulated Impairment Loss	$ 0	$ 0	$ 0
Amortization of Intangible Assets, Total	374	$ 322	$ 322
Wholesale Segment [Member]
Amortization of Intangible Assets, Total	$ 51

Note 8 - Goodwill and Other Intangible Assets - Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	Nov. 24, 2018	Nov. 25, 2017
Intangibles subject to amortization, Gross Carrying Amount	$ 4,384	$ 3,872
Intangibles subject to amortization, Accumulated Amortization	(1,285)	(911)
Intangibles subject to amortization, Intangible Assets, Net	3,099	2,961
Trade names	9,338	2,490
Goodwill	16,043	11,900
Total goodwill and other intangible assets	29,765	18,262
Total goodwill and other intangible assets	28,480	17,351
Customer Relationships [Member]
Intangibles subject to amortization, Gross Carrying Amount	3,550	3,038
Intangibles subject to amortization, Accumulated Amortization	(829)	(574)
Intangibles subject to amortization, Intangible Assets, Net	2,721	2,464
Technology-Based Intangible Assets [Member]
Intangibles subject to amortization, Gross Carrying Amount	834	834
Intangibles subject to amortization, Accumulated Amortization	(456)	(337)
Intangibles subject to amortization, Intangible Assets, Net	$ 378	$ 497

Note 8 - Goodwill and Other Intangible Assets - Changes in Carrying Amount of Goodwill by Reportable Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017
Balance	$ 11,900	$ 11,588
Goodwill arising from store acquisition (Note 3)	4,143	312
Balance	16,043	11,900
Wholesale Segment [Member]
Balance	5,045	4,839
Goodwill arising from store acquisition (Note 3)	4,143	206
Balance	9,188	5,045
Retail Segment [Member]
Balance	1,926	1,820
Goodwill arising from store acquisition (Note 3)		106
Balance	1,926	1,926
Logistical Services [Member]
Balance	4,929	4,929
Goodwill arising from store acquisition (Note 3)
Balance	$ 4,929	$ 4,929

Note 8 - Goodwill and Other Intangible Assets - Useful Lives and Remaining Amortization Period of Goodwill and Other Intangible Assets (Details)	12 Months Ended
	Nov. 24, 2018
Customer Relationships [Member]
Useful life (Year)	14 years
Remaining Amortization Period (Year)	11 years
Technology-Based Intangible Assets [Member]
Useful life (Year)	7 years
Remaining Amortization Period (Year)	3 years

Note 8 - Goodwill and Other Intangible Assets - Estimated Future Amortization Expense for Intangible Assets (Details) - USD ($) $ in Thousands	Nov. 24, 2018	Nov. 25, 2017
Fiscal 2019	$ 379
Fiscal 2020	379
Fiscal 2021	379
Fiscal 2022	279
Fiscal 2023	259
Thereafter	1,424
Total	$ 3,099	$ 2,961

Note 9 - Unconsolidated Affiliated Companies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Nov. 25, 2017	Nov. 26, 2016	May 02, 2011
International Market Centers, L.P. [Member]
Cost Method Investments			$ 1,000
Proceeds from Sale of Long-term Investments	$ 1,954
Cost-method Investments, Realized Gains	954
Minority Interest in Privately-held, Start-up Provider of Property and Casualty Insurance [Member]
Proceeds from Sale of Long-term Investments	3,592
Cost-method Investments, Realized Gains	$ 3,267
Cost Method Investments, Original Cost		$ 325

Note 10 - Notes Payable and Bank Credit Facility (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016	Nov. 15, 2018
Long-term Debt, Total	$ 292	$ 3,734
Long-term Debt, Current Maturities, Total	292	3,405
Interest Paid, Excluding Capitalized Interest, Operating Activities	88	139	$ 353
Bank One [Member]
Line of Credit Facility, Maximum Borrowing Capacity				$ 25,000
Letters of Credit Outstanding, Amount	2,798
Line of Credit Facility, Remaining Borrowing Capacity	$ 22,202
Bank Two [Member]
Letters of Credit Outstanding, Amount				$ 381
Real Estate Notes Payable Operated in Retail Segment [Member]
Debt Instrument, Interest Rate, Stated Percentage	6.73%
Long-term Debt, Total	$ 293	747
Long-term Debt, Current Maturities, Total	293	418
Real Estate Notes Payable Operated in Retail Segment [Member] \| Financed Through Commercial Mortgages [Member]
Debt Instrument, Collateral Amount	5,599	5,727
Zenith Freight Lines [Member] \| Unsecured Debt [Member]
Amortization of Debt Discount (Premium)	$ 13	$ 95	$ 204

Note 10 - Notes Payable and Bank Credit Facility - Real Estate Notes Payable and Bank Debt (Details) - USD ($) $ in Thousands	Nov. 24, 2018	Nov. 25, 2017
Real estate notes payable	$ 292	$ 3,734
Less current portion	(292)	(3,405)
Total long-term notes payable		329
Principal Balance		3,747
Unamortized Discount		(13)
Principal Balance, less current portion		(3,418)
Unamortized discount, current portion		13
Principal Balance, excluding current portion		329
Unamortized discount, noncurrent portion
Zenith Note Payable [Member]
Real estate notes payable		2,987
Principal Balance		3,000
Unamortized Discount		(13)
Real Estate Notes Payable [Member]
Real estate notes payable		747
Principal Balance		747
Unamortized Discount

Note 11 - Post-employment Benefit Obligations (Details Textual) $ in Thousands			12 Months Ended
	May 02, 2017 USD ($)	May 01, 2017	Nov. 24, 2018 USD ($)	Nov. 25, 2017 USD ($)	Nov. 26, 2016 USD ($)
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax, Total			$ 3,214	$ 4,186
Postemployment Benefits Liability, Noncurrent			$ 13,173	13,326
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay			25.00%
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent			8.00%
Defined Contribution Plan, Cost			$ 1,128	1,068	$ 865
Unfunded Deferred Compensation Plan [Member]
Pension Cost (Reversal of Cost)			216	216	$ 228
Postemployment Benefits Liability, Noncurrent			1,837	1,916
Management Savings Plan [member]
Defined Benefit Plan, Fixed Future Benefit Award	$ 2,000
Defined Benefit Plan, Fixed Future Benefit Award, Individual Participants	$ 400
Defined Benefit Plan, Benefit Obligation, Number of Annual Installments	10
Payment to Acquire Life Insurance Policy, Operating Activities			900	431
Current Net Death Benefit			14,998
Supplemental Employee Retirement Plan [Member]
Deferred Compensation Arrangement with Individual, Deferred Compensation, Maximum Percentage of Base Salary		75.00%
Deferred Compensation Arrangement with Individual, Deferred Compensation, Maximum Percentage of Discretionary, Annual Incentive or Other Bonus		100.00%
Deferred Compensation Arrangement with Individual, Deferred Compensation, Annual installment Payments, Maximum Number of Years		15 years
Deferred Compensation Arrangement with Individual, Deferred Compensation, Scheduled Distributions, Maximum Number of Years		5 years
Deferred Compensation Arrangement with Individual, Compensation Expense			102	55
Current Net Death Benefit			$ 2,813
Percent Of Final Average Compensation Provided By Supplemental Retirement Income Plan			65.00%
Death Benefit Percent Of Final Average Annual Compensation For Period of 120 Months			50.00%
Death Benefit Payment Term			10 years
Death Benefit Percent Of Final Average Annual Compensation Single Payment			200.00%
Supplemental Employee Retirement Plan [Member] \| Non-current Portion of Post Employment Benefits Liability [Member]
Deferred Compensation Arrangement with Individual, Recorded Liability			$ 749	$ 55

Note 11 - Post-employment Benefit Obligations - Plan Summary (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017
Change in Benefit Obligation:
Projected benefit obligation	$ 12,322	$ 11,863
Service cost	196	1,117
Interest cost	418	449
Actuarial (gains) losses	(616)	(447)
Benefits paid	(668)	(660)
Projected benefit obligation	11,652	12,322
Accumulated Benefit Obligation	$ 11,559	$ 11,531
Discount rate used to value the ending benefit obligations:	4.00%	3.50%
Amounts recognized in the consolidated balance sheet:
Current liabilities	$ 798	$ 778
Noncurrent liabilities	10,854	11,544
Total amounts recognized	11,652	12,322
Amounts recognized in accumulated other comprehensive income:
Transition obligation		42
Prior service cost	806	858
Actuarial loss	2,408	3,286
Net amount recognized	3,214	4,186
Total recognized in net periodic benefit cost and accumulated other comprehensive income:	$ (2)	$ 1,119

Note 11 - Post-employment Benefit Obligations - Components of Net Periodic Pension Cost (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Components of Net Periodic Pension Cost:
Service cost	$ 196	$ 146	$ 105
Interest cost	418	423	374
Amortization of transition obligation	42	42	42
Amortization of prior service cost	126
Amortization of other loss	262	323	195
Net periodic pension cost	$ 1,044	$ 934	$ 716
Discount rate	3.50%	3.75%	3.75%
Increase in future compensation levels	3.00%	3.00%	3.00%

Note 11 - Post-employment Benefit Obligations - Estimated Future Benefit Payments (Details) $ in Thousands	Nov. 24, 2018 USD ($)
Fiscal 2019	$ 798
Fiscal 2020	748
Fiscal 2021	698
Fiscal 2022	1,003
Fiscal 2023	948
Fiscal 2024 through 2028	$ 3,935

Note 11 - Post-employment Benefit Obligations - Amounts Expected to be Recognized in Next Fiscal Year (Details) $ in Thousands	Nov. 24, 2018 USD ($)
Prior service cost	$ 126
Other loss	184
Total expected to be amortized to net periodic pension cost in 2019	$ 310

Note 12 - Accumulated Other Comprehensive Loss - Activity in Accumulated Other Comprehensive Loss (Details) - USD ($)
$ in Thousands

12 Months Ended

Nov. 24, 2018

Nov. 25, 2017

Reclassification of certain tax effects to retained earnings (1)

$ 191,460

$ 180,705

Reclassification of certain tax effects to retained earnings (1)

190,309

191,460

ASU 2018-02 [Member]

545

Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]

OCI, before Reclassifications, before Tax, Attributable to Parent

(2,570)

(2,553)

616

Net pension amortization reclassified from accumulated other comprehensive loss

430

447

Tax effects

(269)

Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member] | ASU 2018-02 [Member]

(2,338)

(2,570)

Reclassification of certain tax effects to retained earnings (1)

^[1]

$ (545)

Accumulated Defined Benefit Plans Adjustment, Net Prior Service Attributable to Parent [Member]

OCI, before Reclassifications, before Tax, Attributable to Parent

(932)

Accumulated Defined Benefit Plans Adjustment, Net Gain (Loss) Attributable to Parent [Member]

OCI, before Reclassifications, before Tax, Attributable to Parent

$ 448

[1]	See Note 2 regarding the adoption of ASU 2018-02 which resulted in the transfer of certain tax effects carried over from prior years to retained earnings as of the beginning of fiscal 2018.

Note 13 - Capital Stock and Stock Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands					1 Months Ended	12 Months Ended
	Oct. 02, 2018	Mar. 08, 2018	Jan. 11, 2018	Mar. 01, 2017	Dec. 31, 2000	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross						0	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance						$ 8.02	$ 8.02
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term						2 years 219 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value						$ 102
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares, Ending Balance						0
Payments Related to Tax Withholding for Share-based Compensation						$ 674	$ 641	$ 77
Effective Income Tax Rate Reconciliation, Share-based Compensation, Excess Tax Benefit, Amount						223	$ 554	$ 87
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total						$ 1,627
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition						2 years
Stock Issued During Period, Shares, Employee Stock Purchase Plans						14,967	6,275	8,502
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			36,000			45,036
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period						63,138
Effective Income Tax Rate Reconciliation, Share-based Compensation, Excess Tax Benefit, Amount						$ 207	$ 366	$ 46
Restricted Stock [Member] \| Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period		6,036
Restricted Stock [Member] \| One Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	3,000
Restricted Stock [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period						56,600
Shares Paid for Tax Withholding for Share Based Compensation						19,810	21,210	2,940
Payments Related to Tax Withholding for Share-based Compensation						$ 674	$ 641	$ 77
Restricted Stock [Member] \| Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period						6,538
The 2010 Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance						1,250,000
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent				85.00%	85.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant						228,758

Note 13 - Capital Stock and Stock Compensation - Compensation Expense Related to Restricted Stock and Stock Options Included in Selling, General and Administrative Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Selling, General and Administrative Expenses [Member]
Stock based compensation expense	$ 1,133	$ 1,028	$ 903

Note 13 - Capital Stock and Stock Compensation - Changes in Outstanding Options (Details)	12 Months Ended
	Nov. 24, 2018 $ / shares shares
Outstanding, Shares (in shares) \| shares	11,750
Outstanding, weighted average exercise price per share (in dollars per share) \| $ / shares	$ 8.02
Exercised, Shares (in shares) \| shares	(3,400)
Exercised, weighted average exercise price per share (in dollars per share) \| $ / shares	$ 8.02
Forfeited/Expired, Shares (in shares) \| shares
Forfeited/Expired, weighted average exercise price per share (in dollars per share) \| $ / shares
Outstanding, Shares (in shares) \| shares	8,350
Outstanding, weighted average exercise price per share (in dollars per share) \| $ / shares	$ 8.02
Exercisable, Shares (in shares) \| shares	8,350
Exercisable, weighted average exercise price per share (in dollars per share) \| $ / shares	$ 8.02

Note 13 - Capital Stock and Stock Compensation - Additional Information Regarding Activity in Stock Options (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Total intrinsic value of options exercised	$ 75	$ 564	$ 124
Total cash received from the exercise of options	27	310	114
Excess tax benefits recognized in income tax expense upon the exercise of options	223	554	87
Employee Stock Option [Member]
Excess tax benefits recognized in income tax expense upon the exercise of options	$ 16	$ 188	$ 41

Note 13 - Capital Stock and Stock Compensation - Changes in Non-vested Options (Details) - Restricted Stock [Member] - $ / shares		12 Months Ended
	Jan. 11, 2018	Nov. 24, 2018
Non-vested restricted shares outstanding at November 25, 2017 (in shares)		99,138
Non-vested restricted shares outstanding at November 25, 2017 (in dollars per share)		$ 23.87
Granted (in shares)	36,000	45,036
Granted (in dollars per share)		$ 34.41
Vested (in shares)		(63,138)
Vested (in dollars per share)		$ 20.92
Forfeited (in shares)
Forfeited (in dollars per share)
Non-vested restricted shares outstanding at November 24, 2018 (in shares)		81,036
Non-vested restricted shares outstanding at November 24, 2018 (in dollars per share)		$ 32.03

Note 13 - Capital Stock and Stock Compensation - Restricted Stock Awards (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017
Restricted Shares Outstanding (in shares)	81,036	99,138
Granted (in dollars per share)	$ 34.41
January 10, 2017 [Member]
Restricted Shares Outstanding (in shares)	36,000
Granted (in dollars per share)	$ 29.05
Remaining Restriction Period (Year)	1 year 36 days
January 11, 2018 [Member]
Restricted Shares Outstanding (in shares)	36,000
Granted (in dollars per share)	$ 35.75
Remaining Restriction Period (Year)	2 years 36 days
March 8, 2017 [Member]
Restricted Shares Outstanding (in shares)	6,036
Granted (in dollars per share)	$ 33.07
Remaining Restriction Period (Year)	109 days
October 2, 2018 [Member]
Restricted Shares Outstanding (in shares)	3,000
Granted (in dollars per share)	$ 20.97
Remaining Restriction Period (Year)	2 years 328 days

Note 14 - Income Taxes (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Nov. 30, 2019	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		22.20%	35.00%	35.00%
Tax Cuts and Jobs Act of 2017 Provisional Adjustment of Deferred Tax Asset Liability		$ 1,331
Effective Income Tax Rate Reconciliation, Share-based Compensation, Excess Tax Benefit, Amount		223	$ 554	$ 87
Income Taxes Paid, Net, Total		1,431	$ 7,516	$ 9,949
State and Local Jurisdiction [Member]
Operating Loss Carryforwards, Total		$ 4,647
State and Local Jurisdiction [Member] \| Earliest Tax Year [Member]
Operating Loss Carryforwards, Expiration Year		2021
State and Local Jurisdiction [Member] \| Latest Tax Year [Member]
Operating Loss Carryforwards, Expiration Year		2027
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%

Note 14 - Income Taxes - Components of Income Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Current:
Federal	$ (1,137)	$ 7,887	$ 3,728
State	462	2,035	896
Deferred:
Federal	4,747	(200)	4,559
State	(84)	(102)	765
Total	$ 3,988	$ 9,620	$ 9,948

Note 14 - Income Taxes - Reconciliation of Statutory Federal Income Tax Rate and Effective Income Tax Rate (Details)	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Statutory federal income tax rate	22.20%	35.00%	35.00%
Revaluation of deferred tax assets resulting from new enacted rates	10.90%
State income tax, net of federal benefit	4.60%	3.90%	4.20%
Excess tax benefits from stock-based compensation	(1.50%)	(1.80%)	(0.30%)
Other	(3.50%)	(2.60%)	(0.30%)
Effective income tax rate	32.70%	34.50%	38.60%

Note 14 - Income Taxes - Income Tax Effects of Temporary Differences and Carryforwards (Details) - USD ($) $ in Thousands	Nov. 24, 2018	Nov. 25, 2017
Deferred income tax assets:
Trade accounts receivable	$ 192	$ 239
Inventories	1,755	2,606
Notes receivable	109	550
Post employment benefit obligations	3,619	5,555
State net operating loss carryforwards	218	583
Unrealized loss from affiliates	15	69
Net deferred rents	3,199	3,906
Other	1,290	1,878
Gross deferred income tax assets	10,397	15,386
Valuation allowance
Total deferred income tax assets	10,397	15,386
Deferred income tax liabilities:
Property and equipment	5,353	5,426
Intangible assets	1,060	1,185
Prepaid expenses and other	718	382
Total deferred income tax liabilities	7,131	6,993
Net deferred income tax assets	$ 3,266	$ 8,393

Note 15 - Other Gains and Losses (Details Textual) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Nov. 24, 2018	May 26, 2018	Aug. 26, 2017	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Gain (Loss) on Disposition of Property Plant Equipment, Total				$ 234	$ 1,190	$ 128
Proceeds from Sale of Property, Plant, and Equipment, Total				2,689	4,474	667
Litigation Settlement, Amount Awarded from Other Party						1,428
Asset Impairment Charges, Total				469
Gain (Loss) on Contract Termination				(301)
Leasehold Improvements [Member]
Asset Impairment Charges, Total	$ 469			469	0	0
Gain (Loss) on Contract Termination	$ 301			301
Antitrust Litigation Settlement [Member]
Proceeds from Legal Settlements						$ 1,428
Land and Building occupied by Spring, Texas Retail Store [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Total		$ 165		165
Proceeds from Sale of Property, Plant, and Equipment, Total				$ 2,463
Former Retail Store, Las Vegas, Nevada [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Total			$ 1,220
Proceeds from Sale of Property, Plant, and Equipment, Total					4,335
Former Retail Store, Las Vegas, Nevada [Member] \| Selling, General and Administrative Expenses [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Total					$ 1,220

Note 16 - Leases and Lease Guarantees (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Operating Leases, Rent Expense, Total	$ 38,970	$ 34,372	$ 31,867
Accrued Rent	5,844	4,821
Operating Lease, Lease and Rental Expense, Unamortized Balance	6,716	5,264
Operating Lease, Lease and Rental Expense, Unamortized Balance, Noncurrent	5,715	4,504
Real Estate Rental Income (Loss), Net of Expense	(23)	(48)	$ (59)
Loss Contingency, Estimate of Possible Loss	1,995	2,717
Lease Obligations of Licensee Operators [Member]
Loss Contingency, Estimate of Possible Loss	$ 2,021	$ 2,743
Minimum [Member]
Lease Guarantees Term	1 year
Minimum [Member] \| Retail Stores [Member]
Operating Lease, Lease Term	1 year
Renewal Term On Operating Lease	5 years
Minimum [Member] \| Transportation Equipment Leases [Member]
Operating Lease, Lease Term	2 years
Maximum [Member]
Lease Guarantees Term	3 years
Maximum [Member] \| Retail Stores [Member]
Operating Lease, Lease Term	15 years
Renewal Term On Operating Lease	15 years
Maximum [Member] \| Transportation Equipment Leases [Member]
Operating Lease, Lease Term	7 years

Note 16 - Leases and Lease Guarantees - Future Minimum Lease Payments under Non-cancelable Operating Leases (Details) $ in Thousands	Nov. 24, 2018 USD ($)
Fiscal 2019	$ 33,721
Fiscal 2020	32,030
Fiscal 2021	27,017
Fiscal 2022	23,194
Fiscal 2023	18,386
Thereafter	51,112
Total future minimum lease payments	185,460
Retail Stores [Member]
Fiscal 2019	23,631
Fiscal 2020	23,073
Fiscal 2021	20,597
Fiscal 2022	18,166
Fiscal 2023	15,964
Thereafter	50,117
Total future minimum lease payments	151,548
Distribution Centers [Member]
Fiscal 2019	4,999
Fiscal 2020	4,127
Fiscal 2021	3,274
Fiscal 2022	3,097
Fiscal 2023	1,785
Thereafter	437
Total future minimum lease payments	17,719
Transportation Equipment Leases [Member]
Fiscal 2019	3,398
Fiscal 2020	3,193
Fiscal 2021	2,176
Fiscal 2022	1,444
Fiscal 2023	637
Thereafter	558
Total future minimum lease payments	11,406
All Other Lease Payment [Member]
Fiscal 2019	1,693
Fiscal 2020	1,637
Fiscal 2021	970
Fiscal 2022	487
Fiscal 2023
Thereafter
Total future minimum lease payments	$ 4,787

Note 16 - Leases and Lease Guarantees - Minimum Future Rental Income (Details) $ in Thousands	Nov. 24, 2018 USD ($)
Fiscal 2019	$ 1,765
Fiscal 2020	1,632
Fiscal 2021	781
Fiscal 2022	422
Fiscal 2023	105
Thereafter
Total minimum future rental income	$ 4,705

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

3 Months Ended

12 Months Ended

Nov. 24, 2018

^[1]

Aug. 25, 2018

May 26, 2018

^[2]

Feb. 24, 2018

^[3]

Nov. 25, 2017

^[4]

Aug. 26, 2017

^[5]

May 27, 2017

^[6]

Feb. 25, 2017

Nov. 24, 2018

Nov. 25, 2017

Nov. 26, 2016

Numerator:

Net income

$ 1,897

$ 2,945

$ 4,289

$ (913)

$ 4,974

$ 4,579

$ 5,842

$ 2,861

$ 8,218

$ 18,256

$ 15,829

Denominator:

Denominator for basic income per share - weighted average shares (in shares)

10,651,351

10,649,225

10,732,217

Effect of dilutive securities (in shares)

40,424

82,850

130,204

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

10,691,775

10,732,075

10,862,421

Basic income per share:

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

$ 0.18

$ 0.28

$ 0.40

$ (0.09)

$ 0.46

$ 0.43

$ 0.55

$ 0.27

$ 0.77

$ 1.71

$ 1.47

Diluted income per share:

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

$ 0.18

$ 0.28

$ 0.40

$ (0.09)

$ 0.46

$ 0.43

$ 0.54

$ 0.27

$ 0.77

$ 1.70

$ 1.46

[1]	Income from operations includes a $469 asset impairment charge related to our Torrance, California retail store and a $301 charge for lease exit costs related to the closing of a store in San Antonio, Texas (see Note 15). Net income includes a $704 tax benefit arising from the final adjustment to our interim estimates of the impact of reduced federal income tax rates on the valuation of our deferred tax assets (see Note 14).
[2]	Income from operations includes a gain of $165 from the sale of our Spring, Texas retail store Isee Note 15). Net income includes a benefit of $155 in income tax expense arising from additional adjustments to the remeasurement of our deferred tax assets resulting from the Act (see Note 14).
[3]	Net income includes a $2,157 charge to income tax expense arising from the remeasurement of our deferred tax assets due to the reduction in the Federal statutory income tax rate included in the Tax Cuts and Jobs Act.(see Note 14).
[4]	Net income includes a gain of $591 from the disposition of our interest in IMC, net of related income tax effects of approximately $363 (see Note 9).
[5]	Income from operations included a gain of $1,220 from the sale of our Las Vegas, Nevada retail store (see Note 15).
[6]	Net income includes a gain of $2,026 from the sale of an investment, net of related income tax effects of approximately $1,241 (see Note 9), and a loss of $672, net of related income tax effects of approximately $412, resulting from the impairment of retail real estate (see Note 2).

Note 18 - Earnings Per Share - Antidilutive Securities (Details) - shares	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Restricted Stock [Member]
Antidilutive securities (in shares)	45,036		7,814

Note 19 - Segment Information (Details Textual) $ in Thousands	12 Months Ended
	Nov. 24, 2018 USD ($)	Nov. 25, 2017 USD ($)	Nov. 26, 2016 USD ($)
Number of Reportable Segments	3
SGA Expenses Excluding New Store Pre-opening Costs	$ 260,339	$ 245,493	$ 235,178
Zenith Freight Lines [Member]
SGA Expenses Excluding New Store Pre-opening Costs	$ 81,468	$ 80,068	$ 79,725

Note 19 - Segment Information - Segment Information by Segment (Details) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Nov. 24, 2018

Aug. 25, 2018

May 26, 2018

^[2]

Feb. 24, 2018

^[3]

Nov. 25, 2017

Aug. 26, 2017

^[5]

May 27, 2017

^[6]

Feb. 25, 2017

Nov. 24, 2018

Nov. 25, 2017

Nov. 26, 2016

$ 116,647

^[1]

$ 112,956

$ 116,980

$ 110,272

$ 118,225

^[4]

$ 114,261

$ 114,125

$ 105,892

$ 456,855

$ 452,503

$ 432,038

2,047

^[1]

$ 4,324

$ 5,663

$ 2,050

7,494

^[4]

$ 7,260

$ 7,600

$ 4,664

14,084

27,018

28,193

Lease exit costs

(301)

Asset impairment charges

(469)

13,203

13,312

12,249

13,203

13,312

12,249

18,301

15,500

21,501

291,641

293,748

291,641

293,748

278,267

Operating Segments [Member] | Wholesale Segment [Member]

291,641

293,748

291,641

293,748

278,267

255,958

249,193

240,346

12,274

19,121

18,672

3,038

2,648

2,053

3,038

2,648

2,053

144,209

152,181

144,209

152,181

139,477

Operating Segments [Member] | Wholesale Segment [Member] | Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]

144,209

152,181

144,209

152,181

139,477

Operating Segments [Member] | Company-owned Retail Stores [Member]

4,194

4,875

7,232

268,883

268,264

254,667

(312)

3,490

4,333

6,096

6,355

6,260

Operating Segments [Member] | Company-owned Retail Stores [Member] | Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]

6,096

6,355

6,260

Operating Segments [Member] | Logistical Services [Member]

12,769

8,108

5,932

82,866

83,030

83,236

1,398

2,962

3,511

4,069

4,309

3,936

4,069

4,309

3,936

51,191

51,381

51,191

51,381

48,699

Operating Segments [Member] | Logistical Services [Member] | Non-cash Change in Accounts Payable Related to Property, Plant, and Equipment [Member]

51,191

51,381

51,191

51,381

48,699

Operating Segments [Member] | Retail Segment [Member]

1,338

2,517

8,337

96,241

90,186

96,241

90,186

90,091

Intersegment Eliminations [Member]

$ 96,241

$ 90,186

96,241

90,186

90,091

Intersegment Eliminations [Member] | Logistical Services [Member]

1,494

1,445

1,677

Intersegment Eliminations [Member] | Furniture and Accessories [Member]

(28,480)

(28,624)

(28,394)

$ (122,372)

$ (119,360)

$ (117,817)

[1]	Income from operations includes a $469 asset impairment charge related to our Torrance, California retail store and a $301 charge for lease exit costs related to the closing of a store in San Antonio, Texas (see Note 15). Net income includes a $704 tax benefit arising from the final adjustment to our interim estimates of the impact of reduced federal income tax rates on the valuation of our deferred tax assets (see Note 14).
[2]	Income from operations includes a gain of $165 from the sale of our Spring, Texas retail store Isee Note 15). Net income includes a benefit of $155 in income tax expense arising from additional adjustments to the remeasurement of our deferred tax assets resulting from the Act (see Note 14).
[3]	Net income includes a $2,157 charge to income tax expense arising from the remeasurement of our deferred tax assets due to the reduction in the Federal statutory income tax rate included in the Tax Cuts and Jobs Act.(see Note 14).
[4]	Net income includes a gain of $591 from the disposition of our interest in IMC, net of related income tax effects of approximately $363 (see Note 9).
[5]	Income from operations included a gain of $1,220 from the sale of our Las Vegas, Nevada retail store (see Note 15).
[6]	Net income includes a gain of $2,026 from the sale of an investment, net of related income tax effects of approximately $1,241 (see Note 9), and a loss of $672, net of related income tax effects of approximately $412, resulting from the impairment of retail real estate (see Note 2).

Note 19 - Segment Information - Breakdown of Wholesale Sales by Product Category (Details)	12 Months Ended
	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Wood	100.00%	100.00%	100.00%
Wood [Member]
Wood	35.00%	35.00%	37.00%
Upholstery [Member]
Wood	65.00%	65.00%	63.00%

Note 20 - Quarterly Results of Operations (Details Textual) - USD ($) $ in Thousands	3 Months Ended						12 Months Ended
	Nov. 24, 2018	May 26, 2018	Feb. 24, 2018	Nov. 25, 2017	Aug. 26, 2017	May 27, 2017	Nov. 24, 2018	Nov. 25, 2017	Nov. 26, 2016
Gain on Sale of Investments			$ 2,157			$ 2,026
Gain (Loss) on Disposition of Property Plant Equipment, Total							$ 234	$ 1,190	$ 128
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount	$ (704)	$ (155)
Asset Impairment Charges, Total							469
Gain (Loss) on Contract Termination							(301)
Sale of Investments, Tax						1,241
Impairment of Real Estate, Net						672
Impairment of Real Estate, Tax Benefit						$ 412
International Market Centers, L.P. [Member]
Gain on Sale of Investments				$ 591
Sale of Investments, Tax				$ 363
Leasehold Improvements [Member]
Asset Impairment Charges, Total	469						469	$ 0	$ 0
Gain (Loss) on Contract Termination	$ 301						301
Land and Building occupied by Spring, Texas Retail Store [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Total		$ 165					$ 165
Former Retail Store, Las Vegas, Nevada [Member]
Gain (Loss) on Disposition of Property Plant Equipment, Total					$ 1,220

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

3 Months Ended

12 Months Ended

Nov. 24, 2018

^[1]

Aug. 25, 2018

May 26, 2018

^[2]

Feb. 24, 2018

^[3]

Nov. 25, 2017

^[4]

Aug. 26, 2017

^[5]

May 27, 2017

^[6]

Feb. 25, 2017

Nov. 24, 2018

Nov. 25, 2017

Nov. 26, 2016

Sales revenue:

Cost of goods and service sold

$ 116,647

$ 112,956

$ 116,980

$ 110,272

$ 118,225

$ 114,261

$ 114,125

$ 105,892

$ 456,855

$ 452,503

$ 432,038

179,581

177,579

167,519

Income from operations

2,047

4,324

5,663

2,050

7,494

7,260

7,600

4,664

14,084

27,018

28,193

Net income

$ 1,897

$ 2,945

$ 4,289

$ (913)

$ 4,974

$ 4,579

$ 5,842

$ 2,861

$ 8,218

$ 18,256

$ 15,829

Basic income per share (in dollars per share)

$ 0.18

$ 0.28

$ 0.40

$ (0.09)

$ 0.46

$ 0.43

$ 0.55

$ 0.27

$ 0.77

$ 1.71

$ 1.47

Diluted income per share (in dollars per share)

$ 0.18

$ 0.28

$ 0.40

$ (0.09)

$ 0.46

$ 0.43

$ 0.54

$ 0.27

$ 0.77

$ 1.70

$ 1.46

Furniture and Accessories [Member]

Sales revenue:

Cost of goods and service sold

$ 103,864

$ 99,807

$ 102,675

$ 96,123

$ 103,953

$ 100,152

$ 100,294

$ 93,698

$ 402,469

$ 398,097

$ 377,196

45,831

44,821

45,660

43,269

45,380

45,320

44,981

41,898

Logistical Services [Member]

Sales revenue:

$ 12,783

$ 13,149

$ 14,305

$ 14,149

$ 14,272

$ 14,109

$ 13,831

$ 12,194

$ 54,386

$ 54,406

$ 54,842

[1]	Income from operations includes a $469 asset impairment charge related to our Torrance, California retail store and a $301 charge for lease exit costs related to the closing of a store in San Antonio, Texas (see Note 15). Net income includes a $704 tax benefit arising from the final adjustment to our interim estimates of the impact of reduced federal income tax rates on the valuation of our deferred tax assets (see Note 14).
[2]	Income from operations includes a gain of $165 from the sale of our Spring, Texas retail store Isee Note 15). Net income includes a benefit of $155 in income tax expense arising from additional adjustments to the remeasurement of our deferred tax assets resulting from the Act (see Note 14).
[3]	Net income includes a $2,157 charge to income tax expense arising from the remeasurement of our deferred tax assets due to the reduction in the Federal statutory income tax rate included in the Tax Cuts and Jobs Act.(see Note 14).
[4]	Net income includes a gain of $591 from the disposition of our interest in IMC, net of related income tax effects of approximately $363 (see Note 9).
[5]	Income from operations included a gain of $1,220 from the sale of our Las Vegas, Nevada retail store (see Note 15).
[6]	Net income includes a gain of $2,026 from the sale of an investment, net of related income tax effects of approximately $1,241 (see Note 9), and a loss of $672, net of related income tax effects of approximately $412, resulting from the impairment of retail real estate (see Note 2).

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(19))
-URI http://asc.fasb.org/extlink&oid=114873790&loc=SL114874131-224263

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109260490&loc=d3e1337-109256

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 55
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=109256448&loc=d3e4984-109258

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
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