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TheStreet Open House

Havertys Reports Sales For Second Quarter

Stocks in this article: HVT

HAVERTY FURNITURE COMPANIES, INC. (NYSE: HVT and HVT.A) today reported sales for the quarter ended June 30, 2012.

Havertys' sales for the second quarter 2012 increased 5.9% to $151.5 million, compared with $143.1 million for the second quarter of 2011. On a comparable store basis, sales for the quarter increased 5.6%. 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 2012 totaled $315.1 million, compared with $297.3 million in 2011, representing an increase of 6.0%. On a comparable store basis, sales increased 5.7% for the first six months.

Written sales for the second quarter 2012 increased 3.5% over the same quarter last year.

        Sales in Millions

(unaudited)

         

Total Sales % Change

         

Comparable Store Sales % Change

   
            2012             2011                    
Second Quarter         $ 151.5           $ 143.1           5.9 %           5.6 %
Six Months         $ 315.1           $ 297.3           6.0 %           5.7 %

Clarence H. Smith, president and chief executive officer, said, "We are pleased with our sales results and encouraged by the stronger pace of business in the last half of the quarter. Upholstery sales continue to lead our product categories and the second quarter results include increased sales of bedroom merchandise. We believe our investments in improving the customer experience and developing a wider assortment of 'better' price point merchandise is gaining momentum with customers.”

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