Havertys Reports Sales For First Quarter

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
     

ComparableStore 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.”

Havertys, established in 1885, is a full-service home furnishings retailer with 119 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.

Copyright Business Wire 2010

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