Havertys Reports Sales for Second Quarter

7/9/20

ATLANTA, July 08, 2020 (GLOBE NEWSWIRE) -- HAVERTYS (NYSE: HVT and HVT.A) today reported sales for the quarter ended June 30, 2020.

Havertys stores closed on March 19 and deliveries were halted on March 21. Most stores reopened on May 1 and total written sales for the two months ended June 30, 2020 were up 13.9% and written comparable store sales were up 17.5% compared to the same period in 2019. Deliveries resumed on May 5 with reduced personnel and capacity and total sales from May 5 through June 30 were down 13.4% compared with the same period of 2019.

Total sales for the second quarter 2020 were $110.0 million compared with $191.9 million for the second quarter of 2019. Sales for the first six months of 2020 totaled $289.4 million, compared with $379.1 million in 2019. Comparable store sales information for the quarter and six months is not meaningful due to the cessation of operations during the first and second quarter.

Clarence H. Smith, chairman, president and CEO, said, “We are encouraged by the quarter’s written business but remain cautious amid the continuing uncertain health and economic environment. We are analyzing our staffing needs and accelerating hiring in our delivery operations. I am immensely proud of our team members’ hard work, dedication, and customer focus, which exemplifies Havertys’ values.”

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.

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