Haverty Furniture Reports Sales Increase for March

Furniture World Magazine

Havertys' sales for March increased 2.1% to $74.7 million compared with $73.2 million for March 2005. On a comparable-store basis, March sales increased 0.7%. Sales for the first quarter of 2006 increased 0.7% to $209.1 million compared with $207.6 million in 2005. On a comparable-store basis, sales decreased 0.6% 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 trends improved relative to our results in recent months. Comparable- store sales last year were up by 10.8%, setting a high hurdle for this year's comparison. We are seeing signals that our merchandise and marketing initiatives are having a positive impact. Our total written business grew progressively stronger in March and was up by a mid-single-digit percent against last year's very strong month. "We are excited about this month's opening of our new store adjacent to Stonecrest Mall in a growing market southeast of Atlanta. This shopping destination serves rapidly developing areas in DeKalb, Rockdale and Henry counties." 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/.