Havertys 4Q Sales Increase 0.4 Percent

January 7, 2010  by in UnCategorized   

By Home Furnishings Business in on January 8, 2010

Haverty Furniture Cos. (NYSE: HVT and HVT.A) posted sales of $162.4 million for the fourth quarter of 2009 ended Dec. 31, a 0.4 percent increase from sales of $161.8 million in the same quarter last year.

Same-store sales for the quarter climbed 2 percent.

Sales for the 12-month period totaled $588.3 million, a 14.9 percent decreased compared to $691.1 million for the 12 months in 2008. Comparable-store sales for the 12 months dropped 14.2 percent.

"We are pleased to return to positive comparable store sales territory for our fourth quarter," said Clarence H. Smith, president and chief executive office. "Total written sales during the quarter were up 1.4 percent. Gross profit margins have held up well even in this promotional selling environment. We are off to a good start in 2010 after a successful New Year's sale and look forward to top line improvements for this year as we celebrate Havertys' 125th year in the retail furniture business."

Havertys has 121 showrooms in 17 states in the Southern and Midwestern U.S.