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Havertys Reports Sales For Third Quarter

HAVERTY FURNITURE COMPANIES, INC. (NYSE: HVT and HVT.A) today reported sales for the quarter ended September 30, 2010.

Havertys' sales for the third quarter 2010 increased 3.4% to $157.1 million, compared with $151.9 million for the third quarter of 2009. On a comparable store basis, sales for the quarter increased 4.3%. Comparable-store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Total written business for the third quarter of 2010 was down approximately 1.5% compared to the same quarter last year. Sales for the first nine months of 2010 increased 7.6% to $458.2 million, compared with $425.9 million in 2009. On a comparable store basis, sales increased 9.0% for the first nine months.

Sales in Millions (unaudited)

Total Sales

Comparable- Store Sales
  2010     2009 % Change % Change
Third Quarter $157.1 $151.9 3.4% 4.3%
Nine Months $458.2 $425.9 7.6% 9.0%

Clarence H. Smith, president and chief executive officer, said, “Our comparable-store sales increased 4.3% for the third quarter, tempering the 11.6% increase we generated in the first half of 2010. We believe that is reflective of the lack of macro economic momentum with low job creation and few signs of a housing recovery to encourage big ticket purchases for home furnishings. The fourth quarter is historically our strongest of the year and we will have exciting new styles and great values to offer the consumer during this important season.”

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