NEWS DETAILS

Havertys Reports Sales for First Quarter

Apr 08, 2014 7:35 AM




ATLANTA, GEORGIA, April 8, 2014 - HAVERTYS (NYSE: HVT and HVT.A) today reported
sales for the quarter ended March 31, 2014.

Sales for the first quarter 2014 decreased 2.5% to $181.4 million, versus $186.1
million  for  the  first  quarter  of  2013.  On a comparable store basis, sales
decreased  0.9%.  Comparable store sales do not include locations opened, closed
or otherwise non-comparable during the last 12 months.

Total  written sales  for the  first quarter  of 2014 increased 0.9% and written
comparable store sales were up 2.6% over the same quarter last year.  Our stores
are  closed on Easter, so  both of these amounts  were adjusted downward 1.3% to
compensate for that holiday falling in March last year and April this year.

+--------------------+-------------------+----------+-------------+
|                    | Sales in Millions |  Total   | Comparable  |
|                    |    (unaudited)    |  Sales   | Store Sales |
|                    +--------+----------+ % Change |  % Change   |
|                    |  2014  |   2013   |          |             |
+--------------------+--------+----------+----------+-------------+
| First Quarter      | $181.4 |  $186.1  | - 2.5 %  |  - 0.9%     |
+--------------------+--------+----------+----------+-------------+

Clarence  H. Smith, chairman, president and  CEO, said, "Our first quarter total
sales were 2.5% below last year with comparable store sales down slightly.  Last
year's  first quarter comparable  store sales were  up 11.5%.  The severe winter
weather  did not impact 30 of our more southern locations which posted increased
comparable  store  sales  of  7.3% for  the  quarter.   We  have not altered our
promotional  stance and gross profit product margins  should be in line with our
previous  guidance.  Our written business for  the first quarter was better than
our  delivered sales  due in  part to  the continued  growth of our custom order
upholstery and in-home design sales.  We have recently obtained commitments from
our  custom order suppliers  to shorten lead  times from six  to four weeks from
sale  to  customer  delivery.   This  contrasts  with  some of our overseas wood
furniture  manufacturers that have  fallen behind fulfilling  our orders and are
requiring longer lead times.

Our focus remains on our customers and their experience with Havertys at every
point of contact, to connect, inspire and serve them with the seamless
integration of online, in store and in-home engagement."

Havertys,  established in 1885, is a full-service home furnishings retailer with
119 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 at
www.havertys.com.

News  releases include forward-looking statements, which are subject to risk and
uncertainties.   Factors that  might cause  actual results  to differ materially
from  future  results  expressed  or  implied by such forward-looking statements
include,  but  are  not  limited  to,  general economic conditions, the consumer
spending environment for large ticket items, competition in the retail furniture
industry  and other  uncertainties detailed  from time  to time in the Company's
report filed with the SEC.

Contact:
Haverty Furniture Companies, Inc., 404-443-2900
Dennis L. Fink
  EVP & CFO
Jenny Hill Parker
  SVP, finance, secretary and treasurer
Source:  Havertys



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Source: Haverty Furniture Company via GlobeNewswire
[HUG#1775444]