Haverty Furniture Reports Sales for October
02 November 2006 - 10:39PM
PR Newswire (US)
ATLANTA, Nov. 2 /PRNewswire-FirstCall/ -- HAVERTY FURNITURE
COMPANIES, INC. (NYSE: HVT; HVT.A) today reported sales for the
month ended October 31, 2006. Havertys' October sales decreased
7.6% to $63.5 million, compared with $68.6 million in October 2005.
On a comparable-store basis, October sales decreased 10.1%.
Comparable-store sales do not include stores or locations opened,
closed or otherwise non-comparable during the last 12 months. Sales
for the first ten months of 2006 increased 5.3% to $706.5 million
compared with $670.7 million in 2005. On a comparable-store basis,
sales increased 3.5% for the first ten months. Sales in Millions
Comparable- (Unaudited) Total Store Sales Sales 2006 2005 % Change
% Change October $63.5 $68.6 -7.6 % -10.1 % Ten Months $706.5
$670.7 +5.3 % +3.5 % Clarence H. Smith, president and chief
executive officer, said, "In our September sales release we noted
that there had been weakness in written orders after Labor Day
weekend. This trend continued throughout the month of October.
Total written orders were off approximately 6% compared to October
last year, after adjusting for the one less Saturday in this year's
calendar. We have focused on improving our in-stock position over
the last several months and reducing the time needed to schedule
and complete home deliveries to customers. With these service
performance improvements our backlog is lower, so reported sales
now more quickly reflect the recent rate of written orders. "For
the month of October we had a total of twenty home delivery days,
two less than last year. This fact also contributed to the lower
reported sales." Havertys is a full-service home furnishings
retailer with 120 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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