Havertys sales increase 11.6% in third quarter
October 4, 2013-- Furniture Today,
ATLANTA — Havertys posted double-digit gains in third-quarter sales and same-store sales, helped in part by increases in the average ticket, which has grown for 11 straight quarters.
The sales gains came despite a decline in traffic for the quarter, as the retailer's online presence is helping to convert more consumers who start their shopping process on the Web.
Sales for the Atlanta-based Top 100 company jumped 11.6% to $192.7 million for the period ended Sept. 30, up from $172.7 million for the same period a year ago. Same-store sales increased 11.8%.
Total written sales for the third quarter of 2013 increased 7.3% over the same quarter, on top of last year's 12.5% increase, the retailer said.
Through the first nine months the company reported a 12.7% sales increase to $549.9 million, compared with $487.8 million in 2012, and a same-store sales increase of 11.5%.
In a release, Havertys President, Chairman and CEO Clarence Smith said the company was pleased with sales growth for the quarter and noted the 11th consecutive quarterly increase in average ticket size, "due to our merchandising and sales initiatives."
"Traffic was down modestly but was offset by better closing rates as most of our target customers pre-shop online and that engagement is reinforced by their positive in-store experience," Smith said.
"We believe our marketing and operating strategies will continue to deliver sales growth and market share gains," he added.
Havertys operates 119 stores in 16 Southern and Midwestern states.
Related Content By Author
FT/tv: Furniture/Today sets finance workshop for March