Havertys sales down 6.5% in December
Same-store sales tumble 9.2%
By Furniture Today Staff -- Furniture Today, January 4, 2007
ATLANTA — Havertys limped out of 2006 with December sales of $73.9 million, down 6.5% from the same month a year earlier, the Atlanta-based retailer reported.
Same-store sales fell 9.2%, the company said.
“The economic environment for residential furniture sales continues to be difficult,” said Clarence Smith, Havertys president and CEO. “Total written sales for December were approximately 3% lower than in 2005. Our business on both a written and delivered basis was relatively flat during the first half of December and grew weaker in the second half of the month.”
He said sales activity has remained weak into 2007, but the company has maintained its gross profit margins.
Smith noted that the 120-store chain had two fewer delivery days in December 2006 than it did in the same month a year earlier. “We chose to eliminate one delivery day due to improved service capabilities and lower demand, and the second day was lost due to calendar differences,” he said.
For the year, Havertys said its sales of $859.1 million were up 3.8% from 2005 and same-store sales rose 1.8%.
Smith also said the company has assumed the lease of a former Mastercraft store in Rockville, Md., which will be the seventh Havertys in greater Washington.
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