Havertys March sales up 2%
By Furniture Today Staff -- Furniture Today, April 14, 2002
ATLANTA — Full-line retailer Havertys reported a 2% sales increase for March, compared with the year-earlier month. First-quarter sales grew 4.4% to $175 million, compared with $167.6 million a year ago.
Same-store sales were up 0.7% for the month and 3.4% for the quarter, both compared with the year-earlier periods. March sales were softer than expected, down about 3% from company expectations. Havertys said it had a modestly higher backlog of orders to deliver compared to this time last year.
Jay Slater, president and chief executive officer, said, "Even with sales lower than anticipated, earnings appear to be above plan as we have experienced lower-than-expected selling, general and administrative expenses along with continued strong gross margins.
"Expenses during the quarter associated with our changes in distribution and store expansion were in line with our estimates," he said. "We are therefore adjusting our first-quarter guidance upward slightly to a range of 28 to 30 cents per diluted share. We remain optimistic about business trends in the quarter."
Havertys has 104 stores in 14 Southern and Central states.
| Sales | Change | Same-store change | |
|---|---|---|---|
| March | $58.8 | 2.0% | 0.7% |
| First quarter | $175.0 | 4.4% | 3.4% |
| Source: Havertys | |||
-
Havertys sales dip 1.2% in first quarter
Apr 7, 2011 -
Havertys' 1Q sales up 8.2%
Apr 12, 2010 -
Havertys earns $9.2M in 4Q
Mar 8, 2010 -
September sales mixed
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June retail sales soften
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