Havertys Reports Sales for Third Quarter
October 05 2018 - 6:12AM
HAVERTYS (NYSE: HVT and HVT.A) today reported sales for the quarter
ended September 30, 2018.
Havertys sales for the third quarter 2018
increased 1.4% to $210.5 million, compared with $207.6 million for
the third quarter of 2017. On a comparable store basis, sales
for the quarter increased 2.6%. Comparable store sales
include those made on our website and in stores, and excludes
locations opened, closed or otherwise non-comparable during the
last 12 months. Sales for the first nine months of 2018
totaled $608.8 million, compared with $604.9 million in 2017,
representing an increase of 0.6%. On a comparable store
basis, sales increased 0.9% for the first nine months.
Total written sales for the third quarter of
2018 were up 1.8% and written comparable store sales rose 2.6% over
the same period last year.
|
|
Sales in
Millions(unaudited) |
TotalSales%
Change |
ComparableStore
Sales% Change |
|
|
2018 |
2017 |
Third Quarter |
|
$210.5 |
$207.6 |
1.4% |
2.6% |
Nine Months |
|
$608.8 |
$604.9 |
0.6% |
0.9% |
Clarence H. Smith, chairman, president and CEO,
said, “Our record-setting Labor Day sales event helped drive our
third quarter sales results. We differentiate ourselves from our
competition by providing a tailored experience for each customer.
The continued success of our in-home design team in meeting
customer needs contributed to a 5.9% increase in average ticket for
the quarter. Upholstery, our largest product category, led the
percentage increases for the quarter, and custom orders grew 10.6%.
Enhancements to our systems have improved our post-store-visit
interactions, providing better service and enabling customers to
easily complete their purchases online. Accordingly, although our
online orders are up 14.5% for the quarter, we view the store and
digital shopping experience as working and supporting each other
rather than as separate channels.”
The Company issued an update on third quarter
sales on September 26 prior to management’s attendance at an
investor conference. We note that our sales are recognized upon
delivery to the customer and we report on a calendar basis. The
results for the full third quarter in 2018 contained one less
delivery day than in the prior year’s quarter.
The Company will release third quarter 2018
financial results on Tuesday, October 30, 2018, after the market
closes. Havertys will host a conference call with analysts and
investors on Wednesday, October 31, 2018 at 10:00 AM
(ET).
About Havertys
Havertys (NYSE: HVT and HVT.A),
established in 1885, is a full-service home furnishings retailer
with 121 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. Actual
results or events may differ materially from those indicated due to
various important factors. Such factors may include, among
other things, the state of the economy; state of the
residential construction and housing markets; the consumer spending
environment for big ticket items; effects of competition;
management of relationships with our suppliers and vendors and
disruptions in their operations; the imposition of tariffs and
other trade barriers and the effect of retaliatory trade measures;
new regulations or taxation plans, as well as other risks and
uncertainties discussed in the Company's Annual Report on Form 10-K
and from time to time in the Company's filings with the
SEC.
Contact:
Haverty Furniture Companies, Inc.
404-443-2900Richard B. Hare EVP & CFOJenny Hill
Parker SVP, Finance, Secretary and Treasurer
Source: Havertys
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