Havertys' sales climb 7.6% in fourth quarter
Clint Engel -- Furniture Today, January 8, 2014
ATLANTA — Havertys posted a 7.6% jump in fourth quarter sales and a 9.5% increase in same-store sales as the Top 100 company continues to benefit from a better housing market and a mix of goods that it says separates the retailer from its competition.
Sales for the period grew to $196.2 million from $182.3 million for the fourth quarter of 2012. For the year, Havertys' sales were up 11.3% to $746.1 million and same-store sales were up 11%.
"We finished 2013 with sales increases across our full line of home furnishings - helping us post our best sales performance since the beginning of the ‘Great Recession' in 2007," Clarence Smith, president, chairman and CEO, said in a release.
He added that the company saw continued growth in its custom order business and free in-home design service as well as a higher average ticket.
"Our merchandising and marketing are differentiating us from the competition and combined with sustained increases in home sales and home prices, we believe our sales and market share will continue to grow in 2014," he said.
Havertys operates 119 medium to upper-midpriced stores in 16 Southern and Midwestern states.
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