ATLANTA, GEORGIA, July 9, 2013 - HAVERTY FURNITURE COMPANIES, INC. (NYSE: HVT and HVT.A) today reported sales for the quarter ended June 30, 2013.
Havertys sales for the second quarter 2013 increased 12.9% to $171.1 million, compared with $151.5 million for the second quarter of 2012. On a comparable store basis, sales for the quarter increased 11.2%. Comparable store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the first six months of 2013 totaled $357.2, compared with $315.1 million in 2012, representing an increase of 13.4%. On a comparable store basis, sales increased 11.3% for the first six months.
Total written sales for the second quarter of 2013 increased 16.7% over the same quarter last year.
| | | Sales in Millions
(unaudited) | Total
Sales
% Change | Comparable
Store Sales
% Change |
| | | 2013 | 2012 |
| Second Quarter | | $171.1 | $151.5 | 12.9% | 11.2% |
| Six Months | | $357.2 | $315.1 | 13.4% | 11.3% |
Clarence H. Smith, chairman, president and CEO, said, "The execution of our merchandising and marketing strategies continues to deliver solid sales growth and market share gains. During the second quarter we experienced increases in store traffic and average ticket compared to the same period last year. We believe the sustained increases in home sales and home prices are important drivers of the retail home furnishings business in the near and long term."
Havertys, established in 1885, is a full-service home furnishings retailer with 119 showrooms in 16 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Additional information is available on the Company's website at www.havertys.com.
News releases include forward-looking statements, which are subject to risk and uncertainties. Factors that might cause actual results to differ materially from future results expressed or implied by such forward-looking statements include, but are not limited to, general economic conditions, the consumer spending environment for large ticket items, competition in the retail furniture industry and other uncertainties detailed from time to time in the Company's report filed with the SEC.
Contact:
Haverty Furniture Companies, Inc., 404-443-2900
Dennis L. Fink
EVP & CFO
Jenny Hill Parker
SVP, Finance, Secretary and Treasurer
Source: Haverty Furniture Companies, Inc.
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Source: Haverty Furniture Company via Thomson Reuters ONE
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