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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Haverty Furniture Companies Inc | NYSE:HVT | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.02 | -0.07% | 27.79 | 27.94 | 27.57 | 27.85 | 14,452 | 16:03:23 |
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021
|
☐ |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___
|
Maryland
|
58-0281900
|
|
(State or other jurisdiction of incorporation or organization)
|
(I.R.S. Employer Identification No.)
|
|
780 Johnson Ferry Road, Suite 800
Atlanta, Georgia
|
30342
|
|
(Address of principal executive offices)
|
(Zip Code)
|
|
(404) 443-2900
|
||
(Registrant’s telephone number, including area code)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock
|
HVT
|
NYSE
|
Class A Common Stock
|
HVTA
|
NYSE
|
Large accelerated filer
|
☐
|
Accelerated filer
|
☒
|
Non-accelerated filer
|
☐
|
||
Smaller reporting company
|
☐
|
Emerging growth company
|
☐
|
|
Page No.
|
|
PART I.
|
FINANCIAL INFORMATION
|
|
Item 1. Financial Statements
|
||
Condensed Consolidated Balance Sheets –
June 30, 2021 (unaudited) and December 31, 2020
|
1
|
|
Condensed Consolidated Statements of Comprehensive Income –
Three and Six Months Ended June 30, 2021 and 2020 (unaudited)
|
2
|
|
Condensed Consolidated Statements of Cash Flows –
Six Months Ended June 30, 2021 and 2020 (unaudited)
|
3
|
|
Notes to Condensed Consolidated Financial Statements (unaudited)
|
4
|
|
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
|
12
|
|
Item 3. Quantitative and Qualitative Disclosures about Market Risk
|
17
|
|
Item 4. Controls and Procedures
|
17
|
|
PART II.
|
OTHER INFORMATION
|
|
Item 1. Legal Proceedings
|
18
|
|
Item 1A. Risk Factors
|
18
|
|
Item 6. Exhibits
|
18
|
(In thousands)
|
June 30,
2021
|
December 31,
2020
|
||||||
(Unaudited)
|
||||||||
Assets
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
$
|
235,344
|
$
|
200,058
|
||||
Restricted cash and cash equivalents
|
6,716
|
6,713
|
||||||
Inventories
|
115,056
|
89,908
|
||||||
Prepaid expenses
|
11,438
|
9,580
|
||||||
Other current assets
|
12,035
|
9,985
|
||||||
Total current assets
|
380,589
|
316,244
|
||||||
Property and equipment, net
|
112,169
|
108,366
|
||||||
Right-of-use lease assets
|
239,142
|
228,749
|
||||||
Deferred income taxes
|
16,465
|
15,814
|
||||||
Other assets
|
12,776
|
11,199
|
||||||
Total assets
|
$
|
761,141
|
$
|
680,372
|
||||
Liabilities and Stockholders’ Equity
|
||||||||
Current liabilities
|
||||||||
Accounts payable
|
$
|
34,089
|
$
|
31,429
|
||||
Customer deposits
|
116,078
|
86,183
|
||||||
Accrued liabilities
|
50,827
|
52,963
|
||||||
Current lease liabilities
|
33,836
|
33,466
|
||||||
Total current liabilities
|
234,830
|
204,041
|
||||||
Noncurrent lease liabilities
|
213,472
|
200,200
|
||||||
Other liabilities
|
23,427
|
23,164
|
||||||
Total liabilities
|
471,729
|
427,405
|
||||||
Stockholders’ equity
|
||||||||
Capital Stock, par value $1 per share
|
||||||||
Preferred Stock, Authorized – 1,000 shares; Issued: None
|
|
|
||||||
Common Stock, Authorized – 50,000 shares; Issued: 2021 – 29,903; 2020 – 29,600
|
29,903
|
29,600
|
||||||
Convertible Class A Common Stock, Authorized – 15,000 shares; Issued: 2021 – 1,813; 2020 – 1,996
|
1,813
|
1,996
|
||||||
Additional paid-in capital
|
99,016
|
96,850
|
||||||
Retained earnings
|
338,341
|
304,626
|
||||||
Accumulated other comprehensive loss
|
(2,462
|
)
|
(2,560
|
)
|
||||
Less treasury stock at cost – Common Stock (2021 – 12,837; and 2020 – 12,862 shares) and Convertible Class A Common Stock (2021 and 2020 – 522 shares)
|
(177,199
|
)
|
(177,545
|
)
|
||||
Total stockholders’ equity
|
289,412
|
252,967
|
||||||
Total liabilities and stockholders’ equity
|
$
|
761,141
|
$
|
680,372
|
|
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
||||||||||||||
(In thousands, except per share data - unaudited)
|
2021
|
2020
|
2021
|
2020
|
||||||||||||
Net sales
|
$
|
249,989
|
$
|
109,968
|
$
|
486,480
|
$
|
289,400
|
||||||||
Cost of goods sold
|
108,488
|
50,322
|
209,945
|
130,201
|
||||||||||||
Gross profit
|
141,501
|
59,646
|
276,535
|
159,199
|
||||||||||||
Expenses:
|
||||||||||||||||
Selling, general and administrative
|
112,397
|
72,649
|
222,159
|
170,184
|
||||||||||||
Other (income) expense, net
|
(6
|
)
|
(31,828
|
)
|
(43
|
)
|
(31,897
|
)
|
||||||||
Total expenses
|
112,391
|
40,821
|
222,116
|
138,287
|
||||||||||||
Income before interest and income taxes
|
29,110
|
18,825
|
54,419
|
20,912
|
||||||||||||
Interest expense (income), net
|
(59
|
)
|
200
|
(114
|
)
|
(13
|
)
|
|||||||||
Income before income taxes
|
29,169
|
18,625
|
54,533
|
20,925
|
||||||||||||
Income tax expense
|
6,311
|
4,985
|
12,269
|
5,466
|
||||||||||||
Net income
|
$
|
22,858
|
$
|
13,640
|
$
|
42,264
|
$
|
15,459
|
||||||||
Other comprehensive income
|
||||||||||||||||
Adjustments related to retirement plans; net of tax expense of $16 and $32 in 2021 and $10 and $20 in 2020
|
$
|
49
|
$
|
29
|
$
|
98
|
$
|
60
|
||||||||
Comprehensive income
|
$
|
22,907
|
$
|
13,669
|
$
|
42,362
|
$
|
15,519
|
||||||||
Basic earnings per share:
|
||||||||||||||||
Common Stock
|
$
|
1.25
|
$
|
0.73
|
$
|
2.32
|
$
|
0.82
|
||||||||
Class A Common Stock
|
$
|
1.18
|
$
|
0.69
|
$
|
2.18
|
$
|
0.78
|
||||||||
Diluted earnings per share:
|
||||||||||||||||
Common Stock
|
$
|
1.21
|
$
|
0.72
|
$
|
2.25
|
$
|
0.81
|
||||||||
Class A Common Stock
|
$
|
1.16
|
$
|
0.69
|
$
|
2.13
|
$
|
0.78
|
||||||||
Cash dividends per share:
|
||||||||||||||||
Common Stock
|
$
|
0.25
|
$
|
0.15
|
$
|
0.47
|
$
|
0.35
|
||||||||
Class A Common Stock
|
$
|
0.23
|
$
|
0.14
|
$
|
0.43
|
$
|
0.33
|
(In thousands - unaudited)
|
Six Months Ended
June 30,
|
|||||||
2021
|
2020
|
|||||||
Cash Flows from Operating Activities:
|
||||||||
Net income
|
$
|
42,264
|
$
|
15,459
|
||||
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||||||
Depreciation and amortization
|
7,932
|
9,791
|
||||||
Share-based compensation expense
|
4,656
|
2,037
|
||||||
Gain from sale of land, property and equipment
|
(30
|
)
|
(31,607
|
)
|
||||
Other
|
187
|
2,223
|
||||||
Changes in operating assets and liabilities:
|
||||||||
Inventories
|
(25,148
|
)
|
(23
|
)
|
||||
Customer deposits
|
29,896
|
27,417
|
||||||
Operating lease assets and liabilities, net
|
3,248
|
629
|
||||||
Other assets and liabilities
|
(5,089
|
)
|
(3,609
|
)
|
||||
Accounts payable and accrued liabilities
|
(277
|
)
|
2,149
|
|||||
Net cash provided by operating activities
|
57,639
|
24,466
|
||||||
Cash Flows from Investing Activities:
|
||||||||
Capital expenditures
|
(10,939
|
)
|
(4,331
|
)
|
||||
Proceeds from sale of land, property and equipment
|
33
|
69,468
|
||||||
Net cash (used in) provided by investing activities
|
(10,906
|
)
|
65,137
|
|||||
Cash Flows from Financing Activities:
|
||||||||
Proceeds from borrowings under revolving credit facility
|
—
|
43,800
|
||||||
Payments of borrowings under revolving credit facility
|
—
|
(43,800
|
)
|
|||||
Net change in borrowings under revolving credit facility
|
—
|
—
|
||||||
Dividends paid
|
(8,550
|
)
|
(6,558
|
)
|
||||
Common stock repurchased
|
—
|
(6,810
|
)
|
|||||
Other
|
(2,894
|
)
|
(873
|
)
|
||||
Net cash used in financing activities
|
(11,444
|
)
|
(14,241
|
)
|
||||
Increase in cash, cash equivalents and restricted cash equivalents during the period
|
35,289
|
75,362
|
||||||
Cash, cash equivalents and restricted cash equivalents at beginning of period
|
206,771
|
82,402
|
||||||
Cash, cash equivalents and restricted cash equivalents at end of period
|
$
|
242,060
|
$
|
157,764
|
(in thousands)
|
Common Stock
|
Class A
Common Stock
|
Additional
Paid-In Capital
|
Retained
Earnings
|
Accumulated Other
Comprehensive Loss
|
Treasury
Stock
|
Total
|
|||||||||||||||||||||
Balances at March 31, 2021
|
$
|
29,789
|
$
|
1,842
|
$
|
98,694
|
$
|
320,045
|
$
|
(2,511
|
)
|
$
|
(177,545
|
)
|
$
|
270,314
|
||||||||||||
Net income
|
22,858
|
22,858
|
||||||||||||||||||||||||||
Dividends declared:
|
||||||||||||||||||||||||||||
Common Stock, $0.25 per share
|
(4,261
|
)
|
(4,261
|
)
|
||||||||||||||||||||||||
Class A Common Stock, $0.23 per share
|
(301
|
)
|
(301
|
)
|
||||||||||||||||||||||||
Class A conversion
|
29
|
(29
|
)
|
—
|
||||||||||||||||||||||||
Restricted stock issuances
|
85
|
(2,179
|
)
|
(2,094
|
)
|
|||||||||||||||||||||||
Amortization of restricted stock
|
1,977
|
1,977
|
||||||||||||||||||||||||||
Directors’ Compensation Plan
|
524
|
346
|
870
|
|||||||||||||||||||||||||
Other comprehensive income
|
49
|
49
|
||||||||||||||||||||||||||
Balances at June 30, 2021
|
$
|
29,903
|
$
|
1,813
|
$
|
99,016
|
$
|
338,341
|
$
|
(2,462
|
)
|
$
|
(177,199
|
)
|
$
|
289,412
|
(in thousands)
|
Common Stock
|
Class A
Common Stock
|
Additional
Paid-In Capital
|
Retained
Earnings
|
Accumulated Other
Comprehensive Loss
|
Treasury
Stock
|
Total
|
|||||||||||||||||||||
Balances at December 31, 2020
|
$
|
29,600
|
$
|
1,996
|
$
|
96,850
|
$
|
304,626
|
$
|
(2,560
|
)
|
$
|
(177,545
|
)
|
$
|
252,967
|
||||||||||||
Net income
|
42,264
|
42,264
|
||||||||||||||||||||||||||
Dividends declared:
|
||||||||||||||||||||||||||||
Common Stock, $0.47 per share
|
(7,978
|
)
|
(7,978
|
)
|
||||||||||||||||||||||||
Class A Common Stock, $0.43 per share
|
(571
|
)
|
(571
|
)
|
||||||||||||||||||||||||
Class A conversion
|
183
|
(183
|
)
|
—
|
||||||||||||||||||||||||
Restricted stock issuances
|
120
|
(3,014
|
)
|
(2,894
|
)
|
|||||||||||||||||||||||
Amortization of restricted stock
|
4,656
|
4,656
|
||||||||||||||||||||||||||
Directors’ Compensation Plan
|
524
|
346
|
870
|
|||||||||||||||||||||||||
Other comprehensive income
|
98
|
98
|
||||||||||||||||||||||||||
Balances at June 30, 2021
|
$
|
29,903
|
$
|
1,813
|
$
|
99,016
|
$
|
338,341
|
$
|
(2,462
|
)
|
$
|
(177,199
|
)
|
$
|
289,412
|
(in thousands)
|
Common Stock
|
Class A
Common Stock
|
Additional
Paid-In Capital
|
Retained
Earnings
|
Accumulated Other
Comprehensive Loss
|
Treasury
Stock
|
Total
|
|||||||||||||||||||||
Balances at March 31, 2020
|
$
|
29,458
|
$
|
2,054
|
$
|
93,835
|
$
|
294,068
|
$
|
(2,056
|
)
|
$
|
(164,912
|
)
|
$
|
252,447
|
||||||||||||
Net income
|
13,640
|
13,640
|
||||||||||||||||||||||||||
Dividends declared:
|
||||||||||||||||||||||||||||
Common Stock, $0.15 per share
|
(2,593
|
)
|
(2,593
|
)
|
||||||||||||||||||||||||
Class A Common Stock, $0.14 per share
|
(215
|
)
|
(215
|
)
|
||||||||||||||||||||||||
Restricted stock issuances
|
80
|
(634
|
)
|
(554
|
)
|
|||||||||||||||||||||||
Amortization of restricted stock
|
1,064
|
1,064
|
||||||||||||||||||||||||||
Directors’ Compensation Plan
|
316
|
244
|
560
|
|||||||||||||||||||||||||
Other comprehensive income
|
29
|
29
|
||||||||||||||||||||||||||
Balances at June 30, 2020
|
$
|
29,538
|
$
|
2,054
|
$
|
94,581
|
$
|
304,900
|
$
|
(2,027
|
)
|
$
|
(164,668
|
)
|
$
|
264,378
|
(in thousands)
|
Common Stock
|
Class A
Common Stock
|
Additional
Paid-In Capital
|
Retained
Earnings
|
Accumulated Other
Comprehensive Loss
|
Treasury
Stock
|
Total
|
|||||||||||||||||||||
Balances at December 31, 2019
|
$
|
29,431
|
$
|
2,054
|
$
|
93,208
|
$
|
295,999
|
$
|
(2,087
|
)
|
$
|
(158,102
|
)
|
$
|
260,503
|
||||||||||||
Net income
|
15,459
|
15,459
|
||||||||||||||||||||||||||
Dividends declared:
|
||||||||||||||||||||||||||||
Common Stock, $0.35 per share
|
(6,052
|
)
|
(6,052
|
)
|
||||||||||||||||||||||||
Class A Common Stock, $0.33 per share
|
(506
|
)
|
(506
|
)
|
||||||||||||||||||||||||
Acquisition of treasury stock
|
(6,810
|
)
|
(6,810
|
)
|
||||||||||||||||||||||||
Restricted stock issuances
|
107
|
(980
|
)
|
(873
|
)
|
|||||||||||||||||||||||
Amortization of restricted stock
|
2,037
|
2,037
|
||||||||||||||||||||||||||
Directors’ Compensation Plan
|
316
|
244
|
560
|
|||||||||||||||||||||||||
Other comprehensive income
|
60
|
60
|
||||||||||||||||||||||||||
Balances at June 30, 2020
|
$
|
29,538
|
$
|
2,054
|
$
|
94,581
|
$
|
304,900
|
$
|
(2,027
|
)
|
$
|
(164,668
|
)
|
$
|
264,378
|
|
Three Months Ended June 30,
|
Six Months Ended June 30,
|
||||||||||||||||||||||||||||||
2021
|
2020
|
2021
|
2020
|
|||||||||||||||||||||||||||||
(In thousands)
|
Net
Sales
|
% of
Net Sales
|
Net
Sales
|
% of
Net Sales
|
Net
Sales
|
% of
Net Sales
|
Net
Sales
|
% of
Net Sales
|
||||||||||||||||||||||||
Merchandise:
|
||||||||||||||||||||||||||||||||
Case Goods
|
||||||||||||||||||||||||||||||||
Bedroom Furniture
|
$
|
41,232
|
16.5
|
%
|
$
|
19,284
|
17.5
|
%
|
$
|
80,410
|
16.5
|
%
|
$
|
46,928
|
16.2
|
%
|
||||||||||||||||
Dining Room Furniture
|
28,320
|
11.3
|
12,852
|
11.7
|
55,919
|
11.5
|
31,074
|
10.7
|
||||||||||||||||||||||||
Occasional
|
22,110
|
8.8
|
11,199
|
10.2
|
44,174
|
9.1
|
27,450
|
9.5
|
||||||||||||||||||||||||
91,662
|
36.7
|
43,335
|
39.4
|
180,503
|
37.1
|
105,452
|
36.4
|
|||||||||||||||||||||||||
Upholstery
|
100,841
|
40.3
|
44,455
|
40.4
|
196,467
|
40.4
|
118,084
|
40.8
|
||||||||||||||||||||||||
Mattresses
|
24,159
|
9.7
|
10,377
|
9.4
|
44,640
|
9.2
|
29,195
|
10.1
|
||||||||||||||||||||||||
Accessories and Other (1)
|
33,327
|
13.3
|
11,800
|
10.7
|
64,870
|
13.3
|
36,669
|
12.7
|
||||||||||||||||||||||||
$
|
249,989
|
100.0
|
%
|
$
|
109,968
|
100.0
|
%
|
$
|
486,480
|
100.0
|
%
|
$
|
289,400
|
100.0
|
%
|
(1) |
Includes delivery charges and product protection.
|
|
Three Months Ended June 30,
|
Six Months Ended June 30,
|
||||||||||||||
2021
|
2020
|
2021
|
2020
|
|||||||||||||
Operating lease cost
|
$
|
11,873
|
$
|
11,083
|
$
|
23,700
|
$
|
21,515
|
||||||||
Short-term lease cost
|
—
|
—
|
—
|
—
|
||||||||||||
Variable lease cost
|
1,609
|
584
|
3,117
|
2,198
|
||||||||||||
Total lease expense
|
$
|
13,482
|
$
|
11,667
|
$
|
26,817
|
$
|
23,713
|
|
Six Months Ended June 30,
|
|||||||
2021
|
2020
|
|||||||
Cash paid for amounts included in the measurement of lease liabilities:
|
||||||||
Operating cash flows from operating leases
|
$
|
22,876
|
$
|
14,028
|
||||
Right-of-use assets obtained in exchange for lease obligations:
|
||||||||
Operating leases
|
$
|
25,063
|
$
|
77,772
|
|
Service-Based
Restricted Stock Awards
|
Performance-Based
Restricted Stock Awards
|
||||||||||||||
Shares or Units (#)
|
Weighted-Average
Award Price ($)
|
Shares or Units (#)
|
Weighted-Average
Award Price ($)
|
|||||||||||||
Outstanding at December 31, 2020
|
239,281
|
20.77
|
213,895
|
21.08
|
||||||||||||
Granted/Issued
|
118,021
|
33.22
|
93,685
|
32.83
|
||||||||||||
Awards vested or rights exercised (1)
|
(130,323
|
)
|
21.28
|
(56,578
|
)
|
22.95
|
||||||||||
Forfeited
|
(3,435
|
)
|
27.24
|
—
|
—
|
|||||||||||
Additional units earned due to performance
|
—
|
—
|
77,265
|
20.42
|
||||||||||||
Outstanding at June 30, 2021
|
223,544
|
26.94
|
328,267
|
23.96
|
||||||||||||
Restricted units expected to vest
|
223,544
|
26.94
|
387,512
|
25.36
|
(1) |
Includes shares repurchased from employees for employee’s tax liability.
|
|
Three Months Ended
June 30,
|
Six Months Ended
June 30,
|
||||||||||||||
2021
|
2020
|
2021
|
2020
|
|||||||||||||
Numerator:
|
||||||||||||||||
Common:
|
||||||||||||||||
Distributed earnings
|
$
|
4,261
|
$
|
2,593
|
$
|
7,978
|
$
|
6,052
|
||||||||
Undistributed earnings
|
17,042
|
9,987
|
31,295
|
8,211
|
||||||||||||
Basic
|
21,303
|
12,580
|
39,273
|
14,263
|
||||||||||||
Class A Common earnings
|
1,555
|
1,060
|
2,991
|
1,196
|
||||||||||||
Diluted
|
$
|
22,858
|
$
|
13,640
|
$
|
42,264
|
$
|
15,459
|
||||||||
Class A Common:
|
||||||||||||||||
Distributed earnings
|
$
|
301
|
$
|
215
|
$
|
571
|
$
|
506
|
||||||||
Undistributed earnings
|
1,254
|
845
|
2,420
|
690
|
||||||||||||
$
|
1,555
|
$
|
1,060
|
$
|
2,991
|
$
|
1,196
|
|||||||||
Denominator:
|
||||||||||||||||
Common:
|
||||||||||||||||
Weighted average shares outstanding - basic
|
16,997
|
17,245
|
16,895
|
17,353
|
||||||||||||
Assumed conversion of Class A Common Stock
|
1,313
|
1,532
|
1,372
|
1,532
|
||||||||||||
Dilutive options, awards and common stock equivalents
|
532
|
208
|
520
|
241
|
||||||||||||
Total weighted-average diluted Common Stock
|
18,842
|
18,985
|
18,787
|
19,126
|
||||||||||||
Class A Common:
|
||||||||||||||||
Weighted average shares outstanding
|
1,313
|
1,532
|
1,372
|
1,532
|
||||||||||||
Basic earnings per share:
|
||||||||||||||||
Common Stock
|
$
|
1.25
|
$
|
0.73
|
$
|
2.32
|
$
|
0.82
|
||||||||
Class A Common Stock
|
$
|
1.18
|
$
|
0.69
|
$
|
2.18
|
$
|
0.78
|
||||||||
Diluted earnings per share:
|
||||||||||||||||
Common Stock
|
$
|
1.21
|
$
|
0.72
|
$
|
2.25
|
$
|
0.81
|
||||||||
Class A Common Stock
|
$
|
1.16
|
$
|
0.69
|
$
|
2.13
|
$
|
0.78
|
|
2021
|
2020
|
||||||||||||||||||||||||||||||||||||||
Net Sales
|
Comp-Store Sales
|
Net Sales
|
Comp-Store Sales
|
|||||||||||||||||||||||||||||||||||||
Period
|
Total Dollars
|
%
Change
|
$
Change
|
%
Change
|
$
Change
|
Total Dollars
|
%
Change
|
$
Change
|
%
Change
|
$
Change
|
||||||||||||||||||||||||||||||
Q1_
|
$
|
236.5
|
31.8
|
%
|
$
|
57.1
|
11.5
|
%
|
$
|
15.4
|
$
|
179.4
|
(4.2
|
)%
|
$
|
(7.8
|
)
|
11.6
|
%
|
$
|
13.8
|
|||||||||||||||||||
Q2_
|
$
|
250.0
|
127.3
|
%
|
$
|
140.0
|
46.9
|
%
|
$
|
48.8
|
$
|
110.0
|
(42.7
|
)%
|
$
|
(81.9
|
)
|
(15.2
|
)%
|
$
|
(18.4
|
)
|
||||||||||||||||||
YTD Q2_
|
$
|
486.5
|
68.1
|
%
|
$
|
197.1
|
27.0
|
%
|
$
|
64.2
|
$
|
289.4
|
(23.7
|
)%
|
$
|
(89.7
|
)
|
(1.9
|
)%
|
$
|
(4.6
|
)
|
Three months ended June 30,
|
Six Months ended June 30,
|
|||||||||||||||||||||||||||||||
2021
|
2020
|
2021
|
2020
|
|||||||||||||||||||||||||||||
(In thousands)
|
% of Net Sales
|
% of Net Sales
|
% of Net Sales
|
% of Net Sales
|
||||||||||||||||||||||||||||
Variable
|
$
|
41,958
|
16.8
|
%
|
$
|
20,594
|
18.7
|
%
|
$
|
82,665
|
17.0
|
%
|
$
|
56,067
|
19.4
|
%
|
||||||||||||||||
Fixed and discretionary
|
70,439
|
28.0
|
52,055
|
47.3
|
139,494
|
28.7
|
114,117
|
39.4
|
||||||||||||||||||||||||
$
|
112,397
|
45.0
|
%
|
$
|
72,649
|
66.1
|
%
|
$
|
221,159
|
45.7
|
%
|
$
|
170,184
|
58.8
|
%
|
Location
|
Opening Quarter
Actual or Planned
|
Category
|
Myrtle Beach, SC
|
Q-1-21
|
Open – New Market
|
The Villages, FL
|
Q-3-21
|
Open
|
Dallas, TX
|
Q-3-21
|
Closure
|
Austin, TX
|
Q-4-21
|
Open
|
Exhibit Number
|
Description of Exhibit (Commission File No. 1-14445)
|
|
3.1
|
Articles of Amendment and Restatement of the Charter of Haverty Furniture Companies, Inc. effective May 26, 2006 (Exhibit 3.1 to our Second Quarter 2006 Form 10-Q).
|
|
3.2
|
By-laws of Haverty Furniture Companies, Inc. as amended and restated effective May 8, 2018 (Exhibit 3.1 to our Current Report on form 8-K dated May 10, 2018).
|
|
*31.1
|
Certification of Chief Executive Officer pursuant to Rules 13a-14(a) and 15d‑14(a) under the Securities Exchange Act of 1934, as amended.
|
|
*31.2
|
Certification of Chief Financial Officer pursuant to Rules 13a-14(a) and 15d‑14(a) under the Securities Exchange Act of 1934, as amended.
|
|
**32.1
|
Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350.
|
|
101
|
The following financial statements from Haverty Furniture Companies, Inc.’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2021, formatted in inline XBRL, include: (i) Condensed Consolidated Balance Sheets, (ii) Condensed Consolidated Statements of Comprehensive Income, (iii) Condensed Consolidated Statements of Cash Flows and (iv) the Notes to Condensed Consolidated Financial Statements.
|
|
104
|
Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).
|
* |
Filed herewith.
|
** |
Furnished herewith.
|
HAVERTY FURNITURE COMPANIES, INC.
(Registrant)
|
||||
Date:
|
August 2, 2021
|
By:
|
/s/ Clarence H. Smith
|
|
Clarence H. Smith
|
||||
Chairman of the Board and
Chief Executive Officer
|
||||
(principal executive officer)
|
||||
By:
|
/s/ Richard B. Hare
|
|||
Richard B. Hare
|
||||
Executive Vice President and
Chief Financial Officer
(principal financial and accounting officer)
|
1 Year Haverty Furniture Compan... Chart |
1 Month Haverty Furniture Compan... Chart |
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