Havertys Reports Sales for First Quarter
April 06 2018 - 6:25AM
HAVERTYS (NYSE:HVT) (NYSE:HVT.A) today reported sales for the
quarter ended March 31, 2018.
Havertys sales for the first quarter 2018
decreased 0.5% to $199.4 million, compared with $200.4 million for
the first quarter of 2017. On a comparable store basis, sales
for the quarter were down 1.1%. Comparable store sales do not
include locations opened, closed or otherwise non-comparable during
the last 12 months.
Total written sales for the first quarter of
2018 were down 2.0% and written comparable store sales decreased
2.6% over last year’s first quarter.
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Sales in
Millions(unaudited) |
TotalSales%
Change |
ComparableStore
Sales% Change |
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2018 |
2017 |
First Quarter |
|
$199.4 |
$200.4 |
-0.5% |
-1.1% |
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Clarence H. Smith, chairman, president and CEO,
said, “Our first quarter sales were challenging and mirrored the
shift to stronger traffic and sales around traditional shopping
holidays. We continue to develop strategies designed for our
customers and markets to meet this concentrated competitive and
promotional dynamic. Our custom order upholstery capabilities and
accessories assortment are differentiators and their sales for the
quarter continued to grow, aiding the increase in average
ticket.
“We have a strong long-standing reputation for
stylish merchandise with exceptional quality and value and
providing outstanding customer service. Our omni-channel
capabilities build on that foundation and keep pace with customer
expectations. The Havertys brand is well positioned and we have
confidence in our long-term financial outlook.”
The Company will release first quarter 2018
financial results on Tuesday, May 1, 2018, after the market
closes. Havertys will host a conference call with analysts
and investors on Wednesday, May 2, 2018 at 10:00 a.m. ET.
About Havertys
Havertys (NYSE:HVT) (NYSE:HVT.A), established in
1885, is a full-service home furnishings retailer with 123
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
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., 404-443-2900Richard
B. HareEVP & CFOJenny Hill ParkerSVP, Finance, Secretary and
Treasurer
Source: Havertys
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