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Havertys Reports Sales For Third Quarter

HAVERTY FURNITURE COMPANIES, INC. (NYSE: HVT) (NYSE: HVT.A) today reported sales for the quarter ended September 30, 2011.

Havertys' sales for the third quarter 2011 decreased 1.1% to $155.4 million, compared with $157.1 million for the third 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. Sales for the first nine months of 2011 totaled $452.6 million, compared with $458.2 million in 2010, representing a decrease of 1.2%. On a comparable store basis, sales decreased 0.9% for the first nine months.

Written sales for the third quarter of 2011 increased 2.6% over the same quarter last year.

    Sales in Millions

(unaudited)

  Total

Sales

 

Comparable Store Sales % Change

  2011   2010 % Change
Third Quarter $155.4 $157.1 -1.1% -0.6%
Nine Months $452.6 $458.2 -1.2% -0.9%

Clarence H. Smith, president and chief executive officer, said, "We recorded strong sales results around the Independence Day and Labor Day weekends and a slower pace during other times of the period. This highlights the growing shift by customers to finalize their purchases during traditional shopping events. The demand for home furnishings is typically good in the fourth quarter as consumers ready their homes for the holidays. Later this month we will be opening a store in Boca Raton, Florida introducing Havertys to that more upscale market with new merchandise selected specifically for those consumers.”

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