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Havertys Reports Sales for Fourth Quarter

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Copyright © Thomson Reuters 2013. All rights reserved.
2013-01-04 01:05:45 -

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 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. This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Haverty Furniture Company via Thomson Reuters ONE [HUG#1668221]

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