Havertys' same-store sales grow 1.9% in fourth quarter
Total sales for year rise 5.5% to $620.3 million
Clint Engel -- Furniture Today, January 7, 2011
ATLANTA — Havertys posted a 1.9% increase in same-store sale for the fourth quarter, its fifth consecutive quarterly increase, and noted that sales this year are off to a good start.
The Atlanta-based retailer said its total sales for the period ended Dec. 31 decreased 0.2% from the same period a year earlier to $162.1 million. Written business increased 3.2%.
For the year, sales increased 5.5% from 2009 to $620.3 million and same-store sales grew 7%.
"The fourth quarter of 2009 had marked the beginning of renewed interest by consumers in making big-ticket home furnishings purchases," Havertys President and CEO Clarence Smith said in a release.
"Our sales during 2010 reflected the uneven pace of the slow economic recovery marred by low job creation and a weak, often backtracking, housing environment. We are off to a good start in January after a successful New Year's sales."
Same-store comparisons in the first half of this year, measured against the 11.6% gain in the period last year, will make it tough to produce "more than modest top line improvements," Smith said, "but we expect our customer-focused initiatives will help solidify our competitive position."
The midpriced to upscale Havertys operates 118 stores in 17 Southern and Midwestern states.
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Havertys 4Q sales dip 0.2%; same stores up 1.9%
Jan 18, 2011
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