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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 | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 27.81 | 0 | 13:16:56 |
☒ |
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 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.
|
||
September 30, 2021
(unaudited) and December 31, 2020
|
1
|
|
Three and Nine Months
Ended September 30, 2021 and 2020
(unaudited)
|
2
|
|
Nine Months Ended September 30, 2021 and 2020 (unaudited)
|
3
|
|
4
|
||
12
|
||
17
|
||
17
|
||
PART II.
|
||
18
|
||
18
|
||
18 | ||
Item 6. Exhibits
|
19 |
(In thousands)
|
September 30,
2021
|
December 31,
2020
|
||||||
(Unaudited)
|
||||||||
Assets
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
$
|
225,674
|
$
|
200,058
|
||||
Restricted cash and cash equivalents
|
6,716
|
6,713
|
||||||
Inventories
|
118,961
|
89,908
|
||||||
Prepaid expenses
|
13,729
|
9,580
|
||||||
Other current assets
|
13,441
|
9,985
|
||||||
Total current assets
|
378,521
|
316,244
|
||||||
Property and equipment, net
|
124,795
|
108,366
|
||||||
Right-of-use lease assets
|
229,975
|
228,749
|
||||||
Deferred income taxes
|
18,120
|
15,814
|
||||||
Other assets
|
12,349
|
11,199
|
||||||
Total assets
|
$
|
763,760
|
$
|
680,372
|
||||
Liabilities and Stockholders’ Equity
|
||||||||
Current liabilities
|
||||||||
Accounts payable
|
$
|
34,663
|
$
|
31,429
|
||||
Customer deposits
|
120,149
|
86,183
|
||||||
Accrued liabilities
|
56,880
|
52,963
|
||||||
Current lease liabilities
|
34,108
|
33,466
|
||||||
Total current liabilities
|
245,800
|
204,041
|
||||||
Noncurrent lease liabilities
|
203,935
|
200,200
|
||||||
Other liabilities
|
22,484
|
23,164
|
||||||
Total liabilities
|
472,219
|
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 – 29,906; 2020 – 29,600
|
29,906
|
29,600
|
||||||
Convertible Class A Common Stock, Authorized – 15,000 shares; Issued: 2021 – 1,810; 2020 – 1,996
|
1,810
|
1,996
|
||||||
Additional paid-in capital
|
100,816
|
96,850
|
||||||
Retained earnings
|
358,113
|
304,626
|
||||||
Accumulated other comprehensive loss
|
(2,412
|
)
|
(2,560
|
)
|
||||
Less treasury stock at cost – Common Stock (2021 – 13,374; and 2020 – 12,862 shares) and Convertible Class A Common
Stock (2021 and 2020
– 522 shares)
|
(196,692
|
)
|
(177,545
|
)
|
||||
Total stockholders’ equity
|
291,541
|
252,967
|
||||||
Total liabilities and stockholders’ equity
|
$
|
763,760
|
$
|
680,372
|
|
Three Months Ended
September 30,
|
Nine Months Ended
September 30,
|
||||||||||||||
(In thousands, except per share data - unaudited)
|
2021
|
2020
|
2021
|
2020
|
||||||||||||
Net sales
|
$
|
260,378
|
$
|
217,513
|
$
|
746,858
|
$
|
506,913
|
||||||||
Cost of goods sold
|
112,375
|
95,336
|
322,320
|
225,537
|
||||||||||||
Gross profit
|
148,003
|
122,177
|
424,538
|
281,376
|
||||||||||||
Expenses:
|
||||||||||||||||
Selling, general and administrative
|
116,156
|
100,097
|
338,315
|
270,281
|
||||||||||||
Other expense (income), net
|
2
|
|
(2,401
|
)
|
(40
|
)
|
(34,298
|
)
|
||||||||
Total expenses
|
116,158
|
97,696
|
338,275
|
235,983
|
||||||||||||
Income before interest and income taxes
|
31,845
|
24,481
|
86,263
|
45,393
|
||||||||||||
Interest income, net
|
58
|
|
51
|
173
|
|
64
|
|
|||||||||
Income before income taxes
|
31,903
|
24,532
|
86,436
|
45,457
|
||||||||||||
Income tax expense
|
7,670
|
6,271
|
19,939
|
11,737
|
||||||||||||
Net income
|
$
|
24,233
|
$
|
18,261
|
$
|
66,497
|
$
|
33,720
|
||||||||
Other comprehensive income
|
||||||||||||||||
Adjustments related to retirement plans; net of tax expense of $16 and $48 in 2021 and $10 and $30 in 2020
|
$
|
50
|
$
|
30
|
$
|
148
|
$
|
90
|
||||||||
Comprehensive income
|
$
|
24,283
|
$
|
18,291
|
$
|
66,645
|
$
|
33,810
|
||||||||
Basic earnings per share:
|
||||||||||||||||
Common Stock
|
$
|
1.35
|
$
|
0.98
|
$
|
3.67
|
$
|
1.80
|
||||||||
Class A Common Stock
|
$
|
1.28
|
$
|
0.94
|
$
|
3.45
|
$
|
1.71
|
||||||||
Diluted earnings per share:
|
||||||||||||||||
Common Stock
|
$
|
1.31
|
$
|
0.97
|
$
|
3.55
|
$
|
1.77
|
||||||||
Class A Common Stock
|
$
|
1.25
|
$
|
0.93
|
$
|
3.38
|
$
|
1.70
|
||||||||
Cash dividends per share:
|
||||||||||||||||
Common Stock
|
$
|
0.25
|
$
|
0.20
|
$
|
0.72
|
$
|
0.55
|
||||||||
Class A Common Stock
|
$
|
0.23
|
$
|
0.19
|
$
|
0.65
|
$
|
0.52
|
(In thousands - unaudited)
|
Nine Months Ended
September 30,
|
|||||||
2021
|
2020
|
|||||||
Cash Flows from Operating Activities:
|
||||||||
Net income
|
$
|
66,497
|
$
|
33,720
|
||||
Adjustments to reconcile net income to net cash provided by operating activities:
|
||||||||
Depreciation and amortization
|
12,099
|
13,959
|
||||||
Share-based compensation expense
|
6,456
|
3,362
|
||||||
Gain from sale of land, property and equipment
|
(74
|
)
|
(34,202
|
)
|
||||
Other
|
(1,484
|
)
|
1,259
|
|||||
Changes in operating assets and liabilities:
|
||||||||
Inventories
|
(29,053
|
)
|
13,873
|
|||||
Customer deposits
|
33,966
|
58,287
|
||||||
Operating lease assets and liabilities, net
|
3,151
|
1,156
|
||||||
Other assets and liabilities
|
(9,239
|
)
|
(4,997
|
)
|
||||
Accounts payable and accrued liabilities
|
6,679
|
13,404
|
||||||
Net cash provided by operating activities
|
88,998
|
99,821
|
||||||
Cash Flows from Investing Activities:
|
||||||||
Capital expenditures
|
(28,060
|
)
|
(7,205
|
)
|
||||
Proceeds from sale of land, property and equipment
|
78
|
74,399
|
||||||
Net cash (used in) provided by investing activities
|
(27,982
|
)
|
67,194
|
|||||
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
|
(13,010
|
)
|
(10,271
|
)
|
||||
Common stock repurchased
|
(19,493
|
)
|
(19,708
|
)
|
||||
Other
|
(2,894
|
)
|
(876
|
)
|
||||
Net cash used in financing activities
|
(35,397
|
)
|
(30,855
|
)
|
||||
Increase in cash, cash equivalents and restricted cash equivalents during the period
|
25,619
|
136,160
|
||||||
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
|
$
|
232,390
|
$
|
218,562
|
(in thousands)
|
Common Stock
|
Class A
Common Stock
|
Additional
Paid-In Capital
|
Retained
Earnings
|
Accumulated Other
Comprehensive Loss
|
Treasury
Stock
|
Total
|
|||||||||||||||||||||
Balances at June 30, 2021
|
$
|
29,903
|
$
|
1,813
|
$
|
99,016
|
$
|
338,341
|
$
|
(2,462
|
)
|
$
|
(177,199
|
)
|
$
|
289,412
|
||||||||||||
Net income
|
24,233
|
24,233
|
||||||||||||||||||||||||||
Dividends declared:
|
||||||||||||||||||||||||||||
Common Stock, $0.25 per
share
|
(4,164
|
)
|
(4,164
|
)
|
||||||||||||||||||||||||
Class A Common Stock, $0.23
per share
|
(297
|
)
|
(297
|
)
|
||||||||||||||||||||||||
Class A conversion
|
3
|
(3
|
)
|
—
|
||||||||||||||||||||||||
Acquisition of treasury stock
|
(19,493 | ) | (19,493 | ) | ||||||||||||||||||||||||
Amortization of restricted stock
|
1,800
|
1,800
|
||||||||||||||||||||||||||
Other comprehensive income
|
50
|
50
|
||||||||||||||||||||||||||
Balances at September 30, 2021
|
$
|
29,906
|
$
|
1,810
|
$
|
100,816
|
$
|
358,113
|
$
|
(2,412
|
)
|
$
|
(196,692
|
)
|
$
|
291,541
|
(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
|
66,497
|
66,497
|
||||||||||||||||||||||||||
Dividends declared:
|
||||||||||||||||||||||||||||
Common Stock, $0.72 per
share
|
(12,142
|
)
|
(12,142
|
)
|
||||||||||||||||||||||||
Class A Common Stock, $0.65
per share
|
(868
|
)
|
(868
|
)
|
||||||||||||||||||||||||
Class A conversion
|
186
|
(186
|
)
|
—
|
||||||||||||||||||||||||
Acquisition of treasury stock
|
(19,493 | ) | (19,493 | ) | ||||||||||||||||||||||||
Restricted stock issuances
|
120
|
(3,014
|
)
|
(2,894
|
)
|
|||||||||||||||||||||||
Amortization of restricted stock
|
6,456
|
6,456
|
||||||||||||||||||||||||||
Directors’ Compensation Plan
|
524
|
346
|
870
|
|||||||||||||||||||||||||
Other comprehensive income
|
148
|
148
|
||||||||||||||||||||||||||
Balances at September 30, 2021
|
$
|
29,906
|
$
|
1,810
|
$
|
100,816
|
$
|
358,113
|
$
|
(2,412
|
)
|
$
|
(196,692
|
)
|
$
|
291,541
|
(in thousands)
|
Common Stock
|
Class A
Common Stock
|
Additional
Paid-In Capital
|
Retained
Earnings
|
Accumulated Other
Comprehensive Loss
|
Treasury
Stock
|
Total
|
|||||||||||||||||||||
Balances at June 30, 2020
|
$
|
29,538
|
$
|
2,054
|
$
|
94,581
|
$
|
304,900
|
$
|
(2,027
|
)
|
$
|
(164,668
|
)
|
$
|
264,378
|
||||||||||||
Net income
|
18,261
|
18,261
|
||||||||||||||||||||||||||
Dividends declared:
|
||||||||||||||||||||||||||||
Common Stock, $0.20 per
share
|
(3,423
|
)
|
(3,423
|
)
|
||||||||||||||||||||||||
Class A Common Stock, $0.19
per share
|
(290
|
)
|
(290
|
)
|
||||||||||||||||||||||||
Class A conversion
|
17
|
(17 | ) |
—
|
||||||||||||||||||||||||
Acquisition of treasury stock
|
(12,899 | ) | (12,899 | ) | ||||||||||||||||||||||||
Amortization of restricted stock
|
1,325
|
1,325
|
||||||||||||||||||||||||||
Directors’ Compensation Plan
|
(5
|
)
|
(5
|
)
|
||||||||||||||||||||||||
Other comprehensive income
|
30
|
30
|
||||||||||||||||||||||||||
Balances at September 30, 2020
|
$
|
29,555
|
$
|
2,037
|
$
|
95,901
|
$
|
319,448
|
$
|
(1,997
|
)
|
$
|
(177,567
|
)
|
$
|
267,377
|
(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
|
33,720
|
33,720
|
||||||||||||||||||||||||||
Dividends declared:
|
||||||||||||||||||||||||||||
Common Stock, $0.55 per
share
|
(9,475
|
)
|
(9,475
|
)
|
||||||||||||||||||||||||
Class A Common Stock, $0.52
per share
|
(796
|
)
|
(796
|
)
|
||||||||||||||||||||||||
Class A conversion
|
17
|
(17 | ) |
—
|
||||||||||||||||||||||||
Acquisition of treasury stock
|
(19,708
|
)
|
(19,708
|
)
|
||||||||||||||||||||||||
Restricted stock issuances
|
107 |
(983
|
)
|
(876
|
)
|
|||||||||||||||||||||||
Amortization of restricted stock
|
3,362
|
3,362
|
||||||||||||||||||||||||||
Directors’ Compensation Plan
|
314
|
243
|
557
|
|||||||||||||||||||||||||
Other comprehensive income
|
90
|
90
|
||||||||||||||||||||||||||
Balances at September 30, 2020
|
$
|
29,555
|
$
|
2,037
|
$
|
95,901
|
$
|
319,448
|
$
|
(1,997
|
)
|
$
|
(177,567
|
)
|
$
|
267,377
|
|
Three Months Ended September 30,
|
Nine Months Ended
September 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
|
$
|
41,438
|
15.9
|
%
|
$
|
29,725
|
13.7
|
%
|
$
|
121,848
|
16.3
|
%
|
$
|
76,638
|
15.1
|
%
|
||||||||||||||||
Dining Room Furniture
|
29,047
|
11.2
|
22,994
|
10.6
|
84,965
|
11.4
|
54,067
|
10.7
|
||||||||||||||||||||||||
Occasional
|
21,955
|
8.4
|
19,220
|
8.8
|
66,128
|
8.8
|
46,665
|
9.2
|
||||||||||||||||||||||||
92,440
|
35.5
|
71,939
|
33.1
|
272,941
|
36.5
|
177,371
|
35.0
|
|||||||||||||||||||||||||
Upholstery
|
109,375
|
42.0
|
95,554
|
43.9
|
305,842
|
41.0
|
213,656
|
42.1
|
||||||||||||||||||||||||
Mattresses
|
23,616
|
9.1
|
21,431
|
9.9
|
68,257
|
9.1
|
50,625
|
10.0
|
||||||||||||||||||||||||
Accessories and Other (1)
|
34,948
|
13.4
|
28,590
|
13.1
|
99,818
|
13.4
|
65,261
|
12.9
|
||||||||||||||||||||||||
$
|
260,378
|
100.0
|
%
|
$
|
217,513
|
100.0
|
%
|
$
|
746,858
|
100.0
|
%
|
$
|
506,913
|
100.0
|
%
|
(1) |
Includes
delivery charges and product protection.
|
|
Three Months Ended September 30,
|
Nine Months Ended
September 30,
|
||||||||||||||
2021
|
2020
|
2021
|
2020
|
|||||||||||||
Operating lease cost
|
$
|
11,440
|
$
|
11,596
|
$
|
35,140
|
$
|
33,111
|
||||||||
Variable lease cost
|
1,739
|
1,627
|
4,856
|
3,825
|
||||||||||||
Total lease expense
|
$
|
13,179
|
$
|
13,223
|
$
|
39,996
|
$
|
36,936
|
|
Nine Months Ended
September 30,
|
|||||||
2021
|
2020
|
|||||||
Cash paid for amounts included in the measurement of lease liabilities:
|
||||||||
Operating cash flows from operating leases
|
$
|
35,428
|
$
|
25,099
|
||||
Right-of-use assets obtained in exchange for lease obligations:
|
||||||||
Operating leases
|
$
|
24,213
|
$
|
83,550
|
|
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
|
119,921
|
33.29
|
93,685
|
32.83
|
||||||||||||
Awards vested or rights exercised(1)
|
(130,323
|
)
|
21.28
|
(56,578
|
)
|
22.95
|
||||||||||
Forfeited
|
(5,621
|
)
|
24.74
|
—
|
—
|
|||||||||||
Additional units earned due to performance
|
—
|
—
|
77,265
|
20.42
|
||||||||||||
Outstanding at September 30, 2021
|
223,258
|
27.10
|
328,267
|
23.96
|
||||||||||||
Restricted units expected to vest
|
223,258
|
27.10
|
387,512
|
25.36
|
(1) |
Includes shares repurchased from employees for employee’s tax liability.
|
|
Three Months Ended
September 30,
|
Nine Months Ended
September 30,
|
||||||||||||||
2021
|
2020
|
2021
|
2020
|
|||||||||||||
Numerator:
|
||||||||||||||||
Common:
|
||||||||||||||||
Distributed earnings
|
$
|
4,164
|
$
|
3,423
|
$
|
12,142
|
$
|
9,475
|
||||||||
Undistributed earnings
|
18,424
|
13,408
|
49,713
|
21,624
|
||||||||||||
Basic
|
22,588
|
16,831
|
61,855
|
31,099
|
||||||||||||
Class A Common earnings
|
1,645
|
1,430
|
4,642
|
2,621
|
||||||||||||
Diluted
|
$
|
24,233
|
$
|
18,261
|
$
|
66,497
|
$
|
33,720
|
||||||||
Class A Common:
|
||||||||||||||||
Distributed earnings
|
$
|
297
|
$
|
290
|
$
|
868
|
$
|
796
|
||||||||
Undistributed earnings
|
1,348
|
1,140
|
3,774
|
1,825
|
||||||||||||
$
|
1,645
|
$
|
1,430
|
$
|
4,642
|
$
|
2,621
|
|||||||||
Denominator:
|
||||||||||||||||
Common:
|
||||||||||||||||
Weighted average shares outstanding - basic
|
16,794
|
17,098
|
16,862
|
17,267
|
||||||||||||
Assumed conversion of Class A Common Stock
|
1,290
|
1,526
|
1,344
|
1,530
|
||||||||||||
Dilutive options, awards and common stock equivalents
|
478
|
240
|
506
|
241
|
||||||||||||
Total weighted-average diluted Common Stock
|
18,562
|
18,864
|
18,712
|
19,038
|
||||||||||||
Class A Common:
|
||||||||||||||||
Weighted average shares outstanding
|
1,290
|
1,526
|
1,344
|
1,530
|
||||||||||||
Basic earnings per share:
|
||||||||||||||||
Common Stock
|
$
|
1.35
|
$
|
0.98
|
$
|
3.67
|
$
|
1.80
|
||||||||
Class A Common Stock
|
$
|
1.28
|
$
|
0.94
|
$
|
3.45
|
$
|
1.71
|
||||||||
Diluted earnings per share:
|
||||||||||||||||
Common Stock
|
$
|
1.31
|
$
|
0.97
|
$
|
3.55
|
$
|
1.77
|
||||||||
Class A Common Stock
|
$
|
1.25
|
$
|
0.93
|
$
|
3.38
|
$
|
1.70
|
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
|
)
|
|||||||||||||||||||
Q3
|
$
|
260.4
|
19.7
|
%
|
$
|
42.9
|
17.7
|
%
|
$
|
38.4
|
$
|
217.5
|
3.9
|
%
|
$
|
8.2
|
4.0
|
%
|
$
|
8.4
|
|||||||||||||||||||||
YTD Q3
|
$
|
746.9
|
47.3
|
%
|
$
|
240.0
|
22.5
|
%
|
$
|
102.6
|
$
|
506.9
|
(13.9
|
)%
|
$
|
(81.5
|
)
|
0.8
|
%
|
$
|
3.8
|
Three months ended September 30,
|
Nine Months ended September 30,
|
|||||||||||||||||||||||||||||||
|
2021
|
2020
|
2021
|
2020
|
||||||||||||||||||||||||||||
(In thousands)
|
% of
Net Sales
|
% of
Net Sales
|
% of Net Sales
|
% of Net Sales
|
||||||||||||||||||||||||||||
Variable
|
$
|
43,708
|
16.8
|
%
|
$
|
37,678
|
17.3
|
%
|
$
|
126,374
|
16.9
|
%
|
$
|
93,685
|
18.5
|
%
|
||||||||||||||||
Fixed and discretionary
|
72,448
|
27.8
|
62,419
|
28.7
|
211,941
|
28.4
|
176,596
|
34.8
|
||||||||||||||||||||||||
|
$
|
116,156
|
44.6
|
%
|
$
|
100,097
|
46.0
|
%
|
$
|
338,315
|
45.3
|
%
|
$
|
270,281
|
53.3
|
%
|
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-1-22
|
Open
|
(a)
Total Number of
Shares Purchased
|
(b)
Average Price
Paid Per Share
|
(c)
Total Number of
Shares Purchased
as Part of Publicly
Announced Plans or
Programs
|
(d)
Approximate Dollar
Value of Shares That
May Yet be Purchased
Under the Plans or
Programs
|
|||||||||||||
July 1 – July 31
|
44,579
|
$
|
36.17
|
44,579
|
$
|
15,202,200
|
||||||||||
August 1 – August 31
|
412,617
|
$
|
36.60
|
412,617
|
$
|
25,100,700
|
||||||||||
September 1 – September 30
|
80,000
|
$
|
34.74
|
80,000
|
$
|
22,321,200
|
||||||||||
Total
|
537,196
|
537,196
|
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).
|
|
*10.1
|
2021 Long-Term Incentive Plan, effective as of May 10, 2021.
|
|
*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 September 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:
|
November 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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