Haverty Furniture Q4 Comps. Down 1.6% - Quick Facts

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(RTTNews.com) - Haverty Furniture Companies, Inc. ( HVT ) reported that its fourth-quarter sales declined 2.8% to $209.0 million, compared with $215.0 million, prior year. On a comparable store basis, sales for the quarter were down 1.6%. Total written sales were down 5.2% and written comparable store sales declined 3.9% over the same period last year.

Clarence Smith, CEO, said, "Our fourth quarter sales were disappointing. The pace of business was soft early in the quarter going into the Thanksgiving holiday. Our promotional cadence for this important shopping period was similar to last year but sales were beneath the 2017 record-setting level. The reduced transactional activity was partially mitigated by the continued growth in our average ticket. Our written sales post-Christmas to date are up mid-single digits as are our written comparable store sales."

Havertys sales for the twelve months ended December 31, 2018 totaled $817.7 million, compared with $819.9 million in 2017, representing a decrease of 0.3%. On a comparable store basis, sales were up 0.3% for the twelve months.

The company will release fourth quarter 2018 financial results on February 19, 2019, after the market closes.

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This article appears in: World Markets , Stocks , US Markets
Referenced Symbols: HVT

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