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Havertys Reports Sales For First Quarter

HAVERTY FURNITURE COMPANIES, INC. (NYSE: HVT and HVT.A) today reported sales for the quarter ended March 31, 2011.

Havertys' sales for the first quarter 2011 decreased 1.2% to $154.2 million, versus $156.0 million for the first quarter of 2010. On a comparable store basis, sales for the quarter decreased 0.6%. Comparable store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Total written business for the first quarter of 2011 was down approximately 3.5% compared to the same quarter last year.

    Sales in Millions

(unaudited)

    Total

Sales

   

Comparable Store Sales

  2011     2010 % Change % Change
First Quarter $ 154.2 $ 156.0 - 1.2 % - 0.6 %
 

Clarence H. Smith, president and chief executive officer, said, “Our first quarter total sales were 1.2% below last year with comparable store sales down slightly. This was in line with the sales trend we previously reported for the first two months of the quarter. Last year's first quarter comparable store sales were up 10.1%.

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