Havertys' fourth-quarter sales increase 8.4%

Clint Engel -- Furniture Today, January 4, 2013

ATLANTA — Havertys posted an 8.4% increase in fourth quarter sales and same-store sales were up 6%.

Sales for the period ended Dec. 31 increased to $182.3 million from $168.3 million in the fourth quarter a year ago. For the year, the 121-store Atlanta-based Top 100 company grew sales 7.9% to $670.1 million, with a 6.8% gain in same-store sales.

Havertys President and CEO Clarence Smith said in a release that written business for the quarter was up 12.7% with a higher average ticket than a year ago.

"Preliminary indications are that fourth quarter gross margins should be similar to the third quarter rate," he said, consistent with Havertys' most recent guidance. He said total written business for a five-day period around the New Year's holiday was flat.

"The improvement in housing will have a positive impact on our business and together with our investments in enhancing the customer experience and developing a wider assortment of ‘better' price point merchandise, we look forward to the new year," Smith said.

Havertys, with 121 stores in 17 Southern and Midwestern region states, grand opened new stores in November in its Atlanta and Dallas markets.