Havertys' Q2 Sales up 5.9%

July 5, 2012  by in UnCategorized   

By Home Furnishings Business in Financial Reports on July 6, 2012

Furniture retailer Havertys (NYSE: HVT) reported second-quarter 2012 sales of $151.5 million, up 5.9 percent from the prior-year period.

Comparable store sales for the quarter increased 5.6 percent. Sales for the first six months of 2012 totaled $315.1 million, compared with $297.3 million in 2011, representing an increase of 6 percent. On a comparable store basis, sales increased 5.7 percent for the first six months.

Written sales for the second quarter 2012 increased 3.5 percent over the same quarter last year.
           
"We are pleased with our sales results and encouraged by the stronger pace of business in the last half of the quarter," said Atlanta-based Havertys' president and CEO, Clarence H. Smith. "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."