Haverty Furniture Reports February Sales Decrease

Furniture World Magazine

Havertys' February sales decreased 1.1% to $67.5 million, compared with $68.2 million in February 2005. On a comparable-store basis, February sales decreased 2.6%. Comparable-store sales do not include stores or locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the first two months of 2006 decreased 0.1% to $134.3 million compared with $134.4 million in 2005. On a comparable-store basis, sales decreased 1.4% for the first two months. "Sales were generally soft for February 2006 versus the very good 6.1% increase in comparable-store sales we had a year ago," said Clarence H. Smith, president and chief executive officer. "We are pleased that our gross profit margins have continued improving in the last few months. Our attention is also on sales growth and we are intensifying our efforts to generate a better top line performance." Havertys is a full-service home furnishings retailer with 118 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 http://www.havertys.com/.