For over 2 years I have been urging Haverty's management to update it's offerings particularly in accessories which offer a higher margin and are a method of drawing customers into stores more frequently. There has been very little evidence on showroom floors that a full effort has been made to make Haverty's stores attractive to a younger and more affluent customer.
Three retailers that I have lauded for a long time: Crate & Barrel ( privately held) , Williams Sonoma with it's Pottery Barn, Pottery Barn Kids and West Elm and TJ Max with it's very successfull Home Goods are jammed every weekend with high income aspirational customers. How often do you members of the HVT merchandising team visit these stores? Do you take these competitors seriously?
Look at the charts, do a yahoo overlay of the stocks of TJX, WSM and HVT. Need I say more?