Havertys Q2 Sales Rise 1.1% Despite Drop in Store Traffic

July 7, 2017  by Larry Thomas in Financial Reports, Industry   

The company said comparable store sales were down 0.2%.

The second quarter included Easter Sunday, when Havertys stores are closed. In 2016, Easter occurred in March during the first quarter. After adjusting for the shift, the retailer said total written sales for the second quarter were up 0.6% and comparable store written sales were down 0.7%.

“Our sales results for the second quarter were aided by continued increases in average ticket and custom upholstery and accessories sales,” said Clarence Smith, chairman, president and CEO. “Consumer traffic in our stores was down somewhat, but our internet traffic ramped up, contributing to a higher ratio of customers purchasing during their store visits.

He said sales late in the quarter were lower than last year partly due to moving advertising for its July 4^th promotional event from late June to after the holiday this year.

“We are enthusiastic about the new fashionable and unique merchandise we have developed reaching our showrooms over the coming weeks offering fresh looks through the summer selling season,” Smith said.

For the first six months of 2017, sales were up 2.1% to $397.3 million.

Havertys plans to release complete second quarter financial results on July 31.