ATLANTA, GEORGIA, October 4, 2013 - HAVERTYS (NYSE:HVT and HVT.A) today reported sales for the quarter ended September 30, 2013.
Havertys sales for the third quarter 2013 increased 11.6% to $192.7 million, compared with $172.7 million for the third quarter of 2012. On a comparable store basis, sales for the quarter increased 11.8%. Comparable store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the first nine months of 2013 totaled $549.9 million, compared with $487.8 million in 2012, representing an increase of 12.7%. On a comparable store basis, sales increased 11.5% for the first nine months.
Total written sales for the third quarter of 2013 increased 7.3% over the same quarter last year`s 12.5% increase.
| || Sales in Millions|
| || ||2013||2012|
|Third Quarter|| ||$192.7||$172.7||11.6%||11.8%|
|Nine Months|| ||$549.9||$487.8||12.7%||11.5%|
Clarence H. Smith, chairman, president and CEO, said, "We are pleased with our third quarter sales as we generated double digit growth against last year`s sales increase of 11.1%. Our average ticket was up, the 11th consecutive quarterly increase, due to our merchandising and sales initiatives. Traffic was down modestly but was offset by better closing rates as most of our target customers pre-shop online and that engagement is reinforced by their positive in-store experience. We believe our marketing and operating strategies will continue to deliver sales growth and market share gains."
Havertys, established in 1885, is a full-service home furnishings retailer with 119 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 at www.havertys.com.
News releases include forward-looking statements, which are subject to risk 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 report filed with the SEC.
Haverty Furniture Companies, Inc., 404-443-2900
Dennis L. Fink
EVP & CFO
Jenny Hill Parker
SVP, Finance, Secretary and Treasurer
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Source: Haverty Furniture Company via Thomson Reuters ONE
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