Haverty Reports March Sales Decrease

Furniture World News

Haverty Furniture Companies, Inc., reported sales for the month ended March 31, 2007. Havertys' sales for March decreased 11.6% to $66.1 million compared with $74.7 million for March 2006. On a comparable-store basis, March sales decreased 13.5%. Sales for the first quarter of 2007 decreased 8.6% to $191.1 million compared with $209.1 million in 2006. On a comparable-store basis, sales decreased 10.4% for the first quarter. Comparable-store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Clarence H. Smith, president & chief executive officer said, "Our March sales were indicative of the persistent weakness in the retail furniture sector. Havertys has endured many challenging cycles over its 122-year history, and as we have in past difficult times, we continue to sharpen our focus on those aspects of the business within our control." Havertys is a full-service home furnishings retailer with 121 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.