Havertys Comparable Store Sales Decline 14.9%

Furniture World News

Havertys' announced that sales for the third quarter 2008 declined 12.5% to $175.6 million, compared with $200.7 million for the third quarter of 2007. On a comparable-store basis, sales for the quarter declined 14.9%. Comparable- store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the first nine months of 2008 declined 8.6% to $529.2 million, compared with $578.8 million in 2007. On a comparable-store basis, sales declined 11.3% for the first nine months. Total written business was down 15.2% for the third quarter versus a decrease of 5.8% for the same quarter last year. Havertys is a full-service home furnishings retailer with 123 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. News releases include forward-looking statements, which are subject to risks and uncertainties. Factors that might cause actual results to differ materially from future results expressed or implied by such forward-looking statements include, but are not limited to, general economic conditions, the consumer spending environment for large ticket items, competition in the retail furniture industry and other uncertainties detailed from time to time in the Company's reports filed with the SEC.