Havertys Q3 Sales up 11.1%

October 4, 2012  by in UnCategorized   

By Home Furnishings Business in Financial Reports on October 5, 2012

Home furnishings retailer Havertys reported third-quarter 2012 sales of $172.7 million, an 11.1 percent increase over the prior-year period.

Comparable-store sales for the quarter increased 10 percent.

Sales for the first nine months of 2012 totaled $487.8 million, compared with $452.6 million in 2011, a 7.8 percent increase. On a comparable store basis, sales increased 7.1 percent for the first nine months.

Total written sales for the third quarter 2012 increased 12.5 percent over the same quarter last year.

"We are very pleased to report our fourth consecutive quarter of increased comparable store sales," said Clarence H. Smith, president and chief executive officer of Atlanta-based Havertys (NYSE: HVT). "The investments in our store presentation, distinctive products, technology to better serve our customers, and effective advertising with our 'discover something you' campaign are central to our competitive positioning.

"Our new store in Midland, Texas, opened in September, and we plan to open two new stores in the next six weeks as we relocate a store in McDonough, Ga., a southern suburb of Atlanta; and add a store in Allen, Texas, a part of the Dallas market. The demand for home furnishings is typically good in the fourth quarter as consumers ready their homes for the holidays."