Havertys Reports Sales For Second Quarter
HAVERTY FURNITURE COMPANIES, INC. (NYSE: HVT and HVT.A) today reported sales for the quarter ended June 30, 2010.
Havertys' sales for the second quarter 2010 increased 11.9% to $145.1 million, compared with $129.7 million for the second quarter of 2009. On a comparable store basis, sales for the quarter increased 13.2%. 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 2010 totaled $301.1 million, compared with $273.9 million in 2009, representing an increase of 9.9%. On a comparable store basis, sales increased 11.6% for the first six months.
Written sales for the second quarter 2010 increased 9.4% over the same quarter last year. The month of May had the greatest improvement and June was up by a low single digit percent.
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Clarence H. Smith, president and chief executive officer, said, “The second quarter is historically our weakest of the year. Our advertising focus on great merchandise values and our ability to timely deliver customer purchases continued to bolster sales and separates us from the competition. Consumers remain cautious and we expect their spending will mirror the uneven pace of the economic recovery and our sales will reflect that volatility.”
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