Apr 27, 2020 1:15 PM
Havertys plans a phased approach as it restarts its business with limited staffing and shorter hours, adjusting as the pace of business dictates. The company will follow the guidance of the
Havertys helped lead the fight to combat the spread of COVID-19 by closing its stores
Given the dramatic shock from the pandemic and uncertainty of the ongoing impact, Havertys is announcing today the following actions:
These steps follow the previously announced salary and hours reductions and other measures of Havertys’ business continuity plan, aligning the company’s operating cost structure to business conditions and preserving liquidity.
About Havertys
Havertys (NYSE: HVT and HVT.A), established in 1885, is a full-service home furnishings retailer with 120 showrooms in 16 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 havertys.com.
Safe Harbor
This press release includes statements that constitute forward-looking statements within the meaning of the federal securities laws.
These forward-looking statements are subject to risks and uncertainties and change based on various important factors, many of which may be beyond the Company's control. The Company's future performance and actual results may differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements should not be relied upon by investors as a prediction of actual results. Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements include, but are not limited to: changes or declines in consumer discretionary spending, including those caused by the impact of COVID-19; setbacks in our plans to reopen our stores currently and in the future due to COVID-19; risks relating to private brands and new retail concepts; the amount devoted to strategic investments and the timing and success of those investments; inventory turn; changes in the competitive market and competition amongst retailers, including an increase in promotional activity; changes in consumer demand or shopping patterns and the ability to identify new trends and have the right trending products in stores and online; changes in existing tax, labor, foreign trade and other laws and regulations, including those imposing new taxes, surcharges, or tariffs; supply chain or manufacturing disruptions, including those caused by extreme weather, natural disasters, COVID-19, and other public health concerns; limitations on the availability of attractive retail store sites; unauthorized disclosure of sensitive or confidential customer information; website downtime, disruptions or other problems with the eCommerce platform, deficiencies in design or implementation, or platform enhancements; disruptions or other problems with information systems; factors affecting vendors, including supply chain and currency risks; and talent needs. For additional information on these and other factors that could affect the Company's actual results, see the risk factors set forth in the Company's filings with the
Contact:
404-443-2900
SVP, finance and
corporate secretary
SOURCE: Havertys
Source: