HAVERTY FURNITURE Reports Sales for April
May 03 2007 - 7:30AM
PR Newswire (US)
ATLANTA, May 3 /PRNewswire-FirstCall/ -- HAVERTY FURNITURE
COMPANIES, INC. (NYSE:HVTNYSE:andNYSE:HVT.A) today reported sales
for the month ended April 30, 2007. Havertys' April sales decreased
17.1% to $53.6 million, compared with $64.7 million in April 2006.
On a comparable-store basis, April sales decreased 18.1%.
Comparable-store sales do not include stores or locations opened,
closed or otherwise non-comparable during the last 12 months. Sales
for the first four months of 2007 decreased 10.6% to $244.7 million
compared with $273.8 million in 2006. On a comparable-store basis,
sales decreased 12.2% for the first four months. Sales in Millions
Total Comparable- (unaudited) Sales Store Sales 2007 2006 % Change
% Change April $53.6 $64.7 - 17.1 % - 18.1 % Four Months $244.7
$273.8 - 10.6 % - 12.2 % Clarence H. Smith, president and chief
executive officer, said, "We are experiencing a very difficult
sales environment in residential home furnishings. April is
typically our weakest month of the year and that has been
exacerbated by the continued sluggish housing market to produce a
poor monthly performance. There was one less Saturday in April this
year which had a modestly negative impact on our monthly results
since it is our busiest day of the week. The April decline in our
total written sales was approximately 14%, a smaller decrease from
last year than the delivered sales, but still very disappointing."
Havertys is a full-service home furnishings retailer with 121
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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