Havertys Reports Sales for Third Quarter
ATLANTA--(BUSINESS WIRE)-- HAVERTY FURNITURE COMPANIES, INC. (NYSE: HVT and HVT.A) today reported sales for the quarter ended September 30, 2012.
Havertys' sales for the third quarter 2012 increased 11.1% to $172.7 million, compared with $155.4 million for the third quarter of 2011. On a comparable store basis, sales for the quarter increased 10.0%. Comparable store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the first nine months of 2012 totaled $487.8 million, compared with $452.6 million in 2011, representing an increase of 7.8%. On a comparable store basis, sales increased 7.1% for the first nine months.
Total written sales for the third quarter 2012 increased 12.5% over the same quarter last year.
Sales in Millions
Clarence H. Smith, president and chief executive officer, said, "We are very pleased to report our fourth consecutive quarter of increased comparable store sales. The investments in our store presentation, distinctive products, technology to better serve our customers, and effective advertising with our "discover something you" campaign are central to our competitive positioning.
"Our new store in Midland, Texas, opened in September, and we plan to open two new stores in the next six weeks as we relocate a store in McDonough, Georgia, a southern suburb of Atlanta and add a store in Allen, Texas, a part of the Dallas market. The demand for home furnishings is typically good in the fourth quarter as consumers ready their homes for the holidays."
Havertys, established in 1885, is a full-service home furnishings retailer with 121 showrooms in 17 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 risks 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 reports filed with the SEC.
Haverty Furniture Companies, Inc.
Dennis L. Fink, 404-443-2900
EVP & CFO
Jenny Hill Parker, 404-443-2900
SVP, Finance, Secretary and Treasurer
KEYWORDS: United States North America Georgia Texas