Havertys’ June Sales Decline

July 5, 2007  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on July 2007 Sales at Havertys stores dipped 3.2 percent to $69.4 million in June, compared to the same month last year, and same-store sales decreased 5.1 percent during the month.

For the first six months of the year, sales are down 10 percent to $378.2 million at the Atlanta-based retailer that operates 122 stores in 17 states.

“Our sales trends in June were stronger than those earlier in the quarter,” said President and CEO Clarence H. Smith. “However, as we cautioned last month, we still do not expect that the second-quarter results will be profitable.”

On a more positive note, he said the company has been able to decrease its inventory levels in line with the sales decline.