Havertys Reports 1.1% Q4 Sales Increase to Date

December 7, 2016  by Larry Thomas in Financial Reports, Industry   

In a sales update issued in advance of a presentation today at the KeyBanc Capital Markets Consumer Conference, Havertys officials said written sales for the fourth quarter to date are up about 4.5%, and comparable-store written sales are up about 4.7%.

Written sales include merchandise that has been sold but not delivered to the consumer.

“We have had good results since the election but as noted in our last release, Hurricane Matthew negatively impacted our business early in the quarter,” said Clarence Smith, chairman, president and CEO. “Considering the increase in consumer spending around traditional holiday sales events, we place additional emphasis on reaching our target customer with marketing plans highlighting great products at distinct values.”

He said Havertys written business for the four-day Thanksgiving holiday sales period was up approximately 14.3% in total and 16.0% for comparable stores versus the same period last year.

“We have accelerated receipt of merchandise from vendors and should deliver strong volume to customers for the rest of December,” Smith said.

The company plans to release fourth quarter 2016 sales on Jan. 9, before the market opens, and fourth quarter financial results on Feb. 20 after the market closes.