Haverty Furniture Reports 1% November Sales Increase

Furniture World News

Haverty Furniture Companies, Inc. reported sales for the period ended November 30, 2006. Havertys' November sales increased 1.0% to $78.6 million, compared with $77.9 million in November 2005. On a comparable-store basis, November sales decreased 1.2%. Comparable-store sales do not include stores or locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the eleven months of 2006 increased 4.9% to $785.2 million compared with $748.6 million in 2005. On a comparable-store basis, sales increased 3.0% for the eleven months. "Our November sales bounced back after an unusually weak October," said Clarence H. Smith, president and chief executive officer. "Total written sales for November were flat with the same month last year. As expected, our fourth quarter gross profit margins are running ahead of last year. The outlook for home furnishings sales remains somewhat tenuous given the current economic environment and specifically the slowdown in the housing industry." Havertys is a full-service home furnishings retailer with 120 showrooms in 17 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle- to upper-middle price ranges. Additional information is available on the Company's website at www.havertys.com.