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 $156.0 million for the first quarter of 2010. On a comparable store basis, sales for the quarter decreased 0.6%. Comparable store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Total written business for the first quarter of 2011 was down approximately 3.5% compared to the same quarter last year.
|Sales in Millions (unaudited)||Total Sales||ComparableStore Sales|
|2011||2010||% Change||% Change|
|First Quarter||$||154.2||$||156.0||- 1.2||%||- 0.6||%|
“Consumer sentiment is being hampered by rising fuel and food prices and continued declines in housing values so we expect business to remain challenging. While some furniture retailers are closing stores and exiting the business, we are focused on a plan of refashioning and renovating our stores and preparing for Havertys' growth over the longer term.”Havertys, established in 1885, is a full-service home furnishings retailer with 118 showrooms in 17 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle- to upper-middle price ranges. Additional information is available on the Company's website at www.havertys.com. News releases include forward-looking statements, which are subject to risks and uncertainties. Factors that might cause actual results to differ materially from future results expressed or implied by such forward-looking statements include, but are not limited to, general economic conditions, the consumer spending environment for large ticket items, competition in the retail furniture industry and other uncertainties detailed from time to time in the Company's reports filed with the SEC.