2013-01-04 01:05:45 -
ATLANTA, GEORGIA, January 3, 2013 -- HAVERTY FURNITURE COMPANIES, INC. (NYSE:
HVT and HVT.A) today reported sales for the period ended December 31, 2012.
Havertys' sales for the fourth quarter 2012 increased 8.4% to $182.3 million,
versus $168.3 million for the fourth quarter of 2011. On a comparable store
basis, sales for the quarter increased 6.0%. Comparable store sales do not
include locations opened, closed or otherwise non-comparable during the last 12
months. Sales for the twelve months of 2012 totaled $670.1 million versus
$620.9 million in 2011, representing an increase of 7.9%. On a comparable store
basis, sales increased 6.8% for the twelve months.
Total written sales
for the fourth quarter 2012 increased 12.7% over the same
quarter last year.
+----------------+-------------------+----------+-------------+
| | Sales in Millions | Total | Comparable |
| | (unaudited) | Sales | Store Sales |
+----------------+---------+---------+ % Change | % Change |
| | 2012 | 2011 | | |
+----------------+---------+---------+----------+-------------+
| Fourth Quarter | $ 182.3 | $ 168.3 | 8.4 % | 6.0 % |
+----------------+---------+---------+----------+-------------+
| Twelve Months | $ 670.1 | $ 620.9 | 7.9 % | 6.8 % |
+----------------+---------+---------+----------+-------------+
Clarence H. Smith, president and chief executive officer, said, "We finished
2012 with another solid quarter and marked the third consecutive year of
positive comparable store sales increases. Total written business for the
quarter was up 12.7% with a higher average ticket compared to the fourth quarter
of 2011. Preliminary indications are that fourth quarter gross margins should
be similar to the third quarter rate, consistent with the forward looking
comments in our most recent earnings release. Total written business for the
most recent five days of the New Year's holiday sale is flat compared to the
same year ago period."
"Our new stores in the Atlanta and Dallas markets held their grand openings as
scheduled in November. The improvement in housing will have a positive impact
on our business and together with our investments in enhancing the customer
experience and developing a wider assortment of "better" price point merchandise
we look forward to the new year."
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.
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
[HUG#1668221]
