Haverty Furniture Reports March Same Store Sales Decrease Of 9.8%

Furniture World Magazine

HAVERTY FURNITURE COMPANIES, INC. reported sales for the month ended March 31, 2008. Havertys' sales for March decreased 6.2% to $62.0 million compared with $66.1 million for March 2007. On a comparable-store basis, March sales decreased 9.8%. Sales for the first quarter of 2008 decreased 3.0% to $185.2 million compared with $191.1 million in 2007. On a comparable-store basis, sales decreased 6.3% 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 and chief executive officer, said, "Our total written sales for March were down approximately 3.5% compared to March of 2007, consistent with the level of decrease for the full first quarter of 2008. We successfully launched the transactional phase of our website during March continuing the focus on reaching out to our customers on their terms and enhancing their total Havertys shopping experience." Havertys is a full-service home furnishings retailer with 124 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.