ATLANTA--(BUSINESS WIRE)--Jul. 5, 2012--
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 Sales % Change
Comparable Store Sales % Change
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.
Source: Haverty Furniture Companies, Inc.
Haverty Furniture Companies, Inc. Dennis L. Fink, 404-443-2900 EVP
& CFO or Jenny Hill Parker, 404-443-2900 SVP,
Finance, Secretary and Treasurer
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