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TheStreet Open House

Havertys Reports Sales For First Quarter

Stocks in this article: HVT

HAVERTY FURNITURE COMPANIES, INC. (NYSE: HVT and HVT.A) today reported sales for the period ended March 31, 2012.

Havertys' sales for the first quarter 2012 increased 6.1% to $163.6 million, versus $154.2 million for the first quarter of 2011. On a comparable store basis, sales increased 5.7%. Comparable store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months.

Total written sales for the first quarter of 2012 increased 8.2% over the same quarter last year.

      Sales in Millions

(unaudited)

      Total

Sales

     

Comparable Store Sales

  2012       2011 % Change % Change
First Quarter $163.6 $154.2 6.1% 5.7%
 

Clarence H. Smith, president and chief executive officer, said, “We are pleased to report another quarter of increased comparable store sales. Our customers are favorably responding to Havertys' better quality fashionable merchandise, renovated stores, and tools that inspire ideas - key elements of our strategy for long-term growth. These encouraging results are taking place in a continued difficult economic environment but are reflective of improving consumer sentiment.”

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