Haverty’s July Sales Slip

August 5, 2007  by in UnCategorized   

By Home Furnishings Business in Furniture Retailing on August 2007 Haverty Furniture Cos. reported sales for the month ended July 31 of $67.8 million, a 7.6 percent decline compared with the $73.4 million posted in July 2006. Same store sales dropped 8.6 percent for the month.

Sales for the first seven months of 2007 decreased 9.6 percent to $446 million compared with $493.5 million in 2006. Same store sales for the seven months dropped 11.1 percent.

“July comparable store sales were off by 8.6 percent versus strong results for the same month last year when comps had increased by 8 percent,” said Clarence H. Smith, president and chief executive officer. These results reflect the general weakness in home furnishings in our markets, but do not accurately demonstrate the improving trend from double digit percentage decreases earlier in the year.”

Havertys operates 122 showrooms in 17 states in the South and Midwest.