Haverty Furniture Reports All-Time Record Sales for December

Furniture World Magazine

Haverty Furniture Companies reported all-time record sales for any month for the period ended December 31, 2004. Havertys' December sales increased 8.4% to $78.3 million compared with $72.2 million in December 2003. On a comparable-store basis, December sales increased 5.6%. Comparable-store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the twelve months of 2004 totaled $784.2 million versus $744.6 million for 2003, representing an increase of 5.3%. On a comparable-store basis, sales increased 2.1% for the twelve months. "December was another record setting month for Havertys," said Clarence H. Smith, president and chief executive officer. "We were able to fulfill customer orders at a greater pace due in part to improvements in our distribution methods. There was sales growth in all product categories with greater consumer focus on bedding and recliners. Our customers' total orders increased at a slightly better rate than deliveries in December. "We finished the year with approximately 4.1 million square feet of retail space, including a new store in Baton Rouge, Louisiana and an expanded location in Savannah, Georgia, which were both completed in December. We have targeted several new markets for future expansion as we look to bring quality, fashionable home furnishings to more consumers." Havertys is a full-service home furnishings retailer with 117 showrooms in 16 southern and central states 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 http://www.havertys.com/.