Havertys Reports Sales for September
04 Oktober 2007 - 1:30PM
PR Newswire (US)
ATLANTA, Oct. 4 /PRNewswire-FirstCall/ -- HAVERTY FURNITURE
COMPANIES, INC. (NYSE:HVTNYSE:andNYSE:HVT.A) today reported sales
for the month ended September 30, 2007. Havertys' September sales
decreased 14.3% to $62.1 million compared with $72.4 million in
September 2006. On a comparable-store basis, September sales
decreased 16.2 %. 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 2007 totaled $578.8
million versus $643.1 million for 2006, representing a decrease of
10.0%. On a comparable-store basis, sales decreased 11.6% for the
first nine months. Sales in Millions Total Comparable- (unaudited)
Sales Store Sales 2007 2006 % Change % Change September $62.1 $72.4
-14.3 % -16.2 % Third Quarter $200.7 $222.9 -10.0 % -11.6 % Nine
Months $578.8 $643.1 -10.0 % -11.6 % Clarence H. Smith, president
and chief executive officer, said, "Our total written business was
down approximately 4% for the month of September and was down 6%
for the quarter. Last year's third quarter had been very strong
with robust deliveries and comparable-store sales up 8%. "Our cash
flow remained strong during the quarter. We made $4.9 million in
share repurchases and after paying down our revolving bank lines by
$12.2 million have no amounts outstanding. "We are enthusiastic
about the opening of an additional store for us in the Metro-DC
market later this month. Our location in the highly desirable
Rockville, MD area will strengthen our presence in this important
market." Havertys is a full-service home furnishings retailer with
122 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, +1-404-443-2900, both of Haverty Furniture Companies,
Inc. Web site: http://www.havertys.com/
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