Havertys 2Q Comparable Store Sales Advance 3.8%

Haverty Furniture Companies, Inc.

and

disclosed that its comparable store sales for the second quarter witnessed a growth of 3.8 percent. The company indicated that it did not include locations closed or opened in the non-comparable 12-month period. Havertys sales increased 3.8 percent to $194.8 million from $187.7 million in the previous year quarter. For the first six-month period, comparable store sales witnessed 2.3 percent growth while sales totaled $389.3 million, up from $379.1 million in the same period last year. That represented an increase of 2.7% on a YOY basis. Written total and comparable store sales for the second quarter of 2016 both rose 6.0% over the same quarter last year. Havertys' stores are closed for Easter and the positive impact on second quarter written sales from the holiday occurring in March this year versus April last year is estimated at 1.5%. Commenting on the sales, Haverty's chairman, president and CEO, Clarence Smith, said, "Our sales results for the second quarter were as expected and in line with our June 15th sales update. The upholstery, mattress, occasional, and accessories product categories led the year over year sales increases for the second quarter. Havertys' in-home designers were integral to our second quarter sales as they spurred purchases of custom upholstery and accessories." He further said, "Consumer spending continues to coalesce around traditional holiday sales events reinforcing the importance of a strong brand, excellent online and instore experiences, and demonstrable value propositions. Our written business for the four-day July 4th holiday sales period was up approximately 9.5% in total and 9.0% for comparable stores versus the same period last year. We have new advertising in place and promotional activities planned for the coming weeks to inspire new and existing customers to consider a summer refresh of their home furnishings." Shares of the company shed 0.94 percent on Thursday.