Havertys 1Q Sales up 8.2%

April 8, 2010  by in UnCategorized   

By Home Furnishings Business in Financial Reports on April 9, 2010

Havertys Furniture Companies (NYSE: HVT and HVT.A), Atlanta, reported Thursday that first quarter 2010 sales rose 8.2 percent to $156 million compared with the same period last year.

Comparable store sales were up 10 percent comparing the same periods.

"We are pleased to record our second consecutive quarter of positive comparable store sales," said Clarence H. Smith, president and chief executive officer. "The double digit percent increase for the first quarter resulted from broad-based improvements across all of our regions relative to the very difficult sales environment last year. Our total written business for the first quarter was up 10.6 percent. Gross profit margins are tracking near our 2009 annual rate as anticipated. We are off to a good start in 2010 and encouraged by these positive trends."

Havertys has 119 showrooms in 17 southern and midwestern states.