Havertys 2Q Sales Climb 11.9%

July 7, 2010  by in UnCategorized   

By Home Furnishings Business in Financial Reports on July 8, 2010 Atlanta-based Haverty Furniture Cos. (NYSE: HVT and HVT.A) reported sales for the second quarter ended June 30 increased 11.9 percent to $145.1 million, compared to $129.7 million for the second quarter of 2009.

Same-store sales for the retailer increased 13.2 percent.

Sales for the first six months of 2010 totaled $301.1 million, compared with $273.9 million in 2009, representing an increase of 9.9 percent. Same-store sales for the six-month period increased 11.6 percent.

The company also said written sales for the second quarter increased 9.4 percent, and the month of May posted the greatest improvement. The retailer noted that June business was up by a "low single digit percent."

"The second quarter is historically our weakest of the year," said Clarence H. Smith, president and chief executive office. "Our advertising focus on great merchandise values and our ability to timely deliver customer purchases continued to bolster sales and separates us from the competition. Consumers remain cautious and we expect their spending will mirror the uneven pace of the economic recovery and our sales will reflect that volatility."

The retailer has posted the full release on its Web site.