Havertys Updates Second Quarter Sales

ATLANTA, June 20, 2017 -- HAVERTYS (NYSE:HVT) (NYSE:HVT.A) today reported members of the company's senior management are scheduled to meet on June 21^st and 22^nd with institutional investors in the Midwest and discuss the company’s operations. In anticipation of these meetings, Havertys also today released updated sales information.

Havertys sales for the second quarter to date of 2017 are up approximately 1.6% over the same period last year and comparable store sales are up 0.4%. Havertys’ stores are closed for Easter and the holiday occurred in April this year versus March last year.  Written comparable store sales for the second quarter to date after adjusting 1.6% for the Easter shift are up 0.3%.  This compares to a written comparable store sales increase of 4.5% for the full second quarter of 2016, also adjusted for the shift in Easter in 2016.

“Our written comparable store sales in the second quarter reflect soft written business except for a very good Memorial Day holiday sales period," said Clarence Smith, chairman, president and chief executive officer. "We look forward to the impact of the new products in our showrooms and appealing advertising for the upcoming July 4^th holiday sales," Smith concluded.

The Company plans to announce second quarter 2017 sales on Monday, July 10, 2017, before the market opens and second quarter financial results on Monday, July 31, 2017, after the market closes.

About Havertys

Havertys (NYSE:HVT) (NYSE:HVT.A), established in 1885, is a full-service home furnishings retailer with 124 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 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

Richard B. Hare 
EVP & CFO 
Jenny Hill Parker 
SVP, Finance, Secretary and Treasurer 
Source: Havertys