Daily News
From Home Furnishing Business
Havertys 1Q Sales Climb 1.7%
April 7,
2016 by in Financial Reports, Industry 
Furniture retailer Havertys (NYSE: HVT) reported first quarter sales of $194.5 million for the period ended March 31, a 1.7 percent increase compared to first quarter sales of $191.3 million in the same quarter last year.
Same-store sales climbed 0.9 percent for the quarter.
“The slowing in consumer spending that continued from late 2015 has generated a highly promotional competitive environment in retail,” said Clarence Smith, chairman, president and CEO. “We increased our advertising spending over the prior year, particularly in the digital arena, but did not alter our pricing stance. Although internet sales are less than 2% of our total sales, our website is critical in the customer buying journey. We have substantially improved the online experience, enhancing the display for mobile devices, accelerating response times, and highlighting furnishings inspirations. Our custom order capabilities and free in-home design service helps grow our overall average ticket and sets us apart from the competition.”
The company will release its complete first quarter results May 2, following the close of the market.