HAVERTY FURNITURE COMPANIES, INC. (NYSE: HVT and HVT.A) today reported sales for the quarter ended June 30, 2012.
Havertys' sales for the second quarter 2012 increased 5.9% to $151.5 million, compared with $143.1 million for the second quarter of 2011. On a comparable store basis, sales for the quarter increased 5.6%. Comparable store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the first six months of 2012 totaled $315.1 million, compared with $297.3 million in 2011, representing an increase of 6.0%. On a comparable store basis, sales increased 5.7% for the first six months.
Written sales for the second quarter 2012 increased 3.5% over the same quarter last year.
| Sales in Millions (unaudited) | Total | Comparable | ||||||||||||||||||||||||||||
| 2012 | 2011 | |||||||||||||||||||||||||||||
| Second Quarter | $ | 151.5 | $ | 143.1 | 5.9 | % | 5.6 | % | ||||||||||||||||||||||
| Six Months | $ | 315.1 | $ | 297.3 | 6.0 | % | 5.7 | % | ||||||||||||||||||||||
Clarence H. Smith, president and chief executive officer, said, "We are pleased with our sales results and encouraged by the stronger pace of business in the last half of the quarter. Upholstery sales continue to lead our product categories and the second quarter results include increased sales of bedroom merchandise. We believe our investments in improving the customer experience and developing a wider assortment of 'better' price point merchandise is gaining momentum with customers.”
Havertys, established in 1885, is a full-service home furnishings retailer with 120 showrooms in 17 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Additional information is available on the Company's website at www.havertys.com.
News releases include forward-looking statements, which are subject to risks and uncertainties. Factors that might cause actual results to differ materially from future results expressed or implied by such forward-looking statements include, but are not limited to, general economic conditions, the consumer spending environment for large ticket items, competition in the retail furniture industry and other uncertainties detailed from time to time in the Company's reports filed with the SEC.
Contacts:
Dennis L. Fink, 404-443-2900
EVP
& CFO
or
Jenny Hill Parker, 404-443-2900
SVP,
Finance, Secretary and Treasurer
