Havertys Q3 Sales Edge Up

Occasional, dining, accessories and upholstery products lead the top line
Posted on October 7, 2016 by David Gill

Havertysstorefront3x2ATLANTA—A gain in written orders during the holiday selling periods helped Havertys’ third-quarter net sales to a modest 0.8 percent increase, according to a preliminary statement on the quarter from the home furnishings retailer.

Net sales in the quarter, which ended on Sept. 30, totaled $211.7 million and included a pickup of 1.2 percent in same-store sales. For the first three quarters of the fiscal year, net sales reached $601 million, up 2 percent from the first three quarters of last year and including a 1.9 percent increase in same-store sales.

“Our increase in written business during the third quarter was driven by robust results around the major holidays and an ebbing during the remaining periods,” said Clarence Smith, Havertys’ chairman, president and CEO. “The occasional, dining, accessories and upholstery product categories led the year-over-year sales increases for the third quarter. Our in-home designers have helped increase sales of custom upholstery, rugs and other accessories, building larger sales tickets and significantly improving opportunities for repeat and referral business.”

Havertys will release its full third-quarter financial results on Oct. 31.