ATLANTA, July 9 /PRNewswire-FirstCall/ -- HAVERTY FURNITURE COMPANIES, INC. (NYSE:HVTNYSE:andNYSE:HVT.A) today reported sales for the quarter ended June 30, 2009.
Havertys' sales for the second quarter 2009 decreased 23.0% to $129.7 million, compared with $168.4 million for the second quarter of 2008. On a comparable-store basis, sales for the quarter decreased 22.6%. Comparable-store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the first six months of 2009 totaled $273.9 million, compared with $353.7 million in 2008, representing a decrease of 22.6%. On a comparable-store basis, sales decreased 22.7% for the first six months.
Sales in Millions Total Comparable-
(unaudited) Sales Store Sales
2009 2008 % Change % Change Second Quarter $129.7 $168.4 - 23.0% - 22.6%
Six Months $273.9 $353.7 - 22.6% -22.7%
Clarence H. Smith, president and chief executive officer, said, "Sales declines for the second quarter, which historically is our weakest of the year, were on a similar pace as the previous two quarters. We will be launching attractive new products with a strong value statement in the coming months and highlighting them in television, print and on-line media. Our website, which features product reviews and an easy to use room planner, is an important part of our reaching the customer as consumers research potential big-ticket purchases. Havertys' sales associates continue to provide superior customer service during the in-store shopping experience. The combined talents of all our team members and our strong merchandise presentation will make Havertys a formidable survivor of these difficult economic times." Havertys 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 http://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 for Information:
Dennis L. Fink, EVP & CFO or
Jenny Hill Parker, VP, Secretary & Treasurer
(404) 443-2900
DATASOURCE: Haverty Furniture Companies, Inc.
CONTACT: Dennis L. Fink, EVP & CFO, or Jenny Hill Parker, VP, Secretary & Treasurer, both of Haverty Furniture Companies, Inc., +1-404-443-2900 Web Site: http://www.havertys.com/
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