Havertys sales fall, but margins better
By Furniture Today Staff -- Furniture Today, September 9, 2001
Atlanta — Havertys posted a 7.6% drop in August same-store sales, citing a tough comparison with the same month last year. Total delivered sales for the retailer fell 2.2% to $61.2 million for the month. Through the first eight months of the year, total sales were down 2.5% to $434.6 million and same store sales fell 7.5%.
"August sales were ahead of our expectations," said Jay Slater, president and chief executive officer of the 106-store, midpriced retailer. "Last year's August sales were an all-time monthly record that still stands, so the comparison was a very difficult one."
He said that margins continue to be better than planned. For September, Havertys expects a modest rise in total sales and a low single-digit percentage decrease in same-store sales.
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