Heavitree Brewery (LSE:HVTA)
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ATLANTA, May 3 /PRNewswire-FirstCall/ -- HAVERTY FURNITURE COMPANIES, INC. (NYSE:HVTNYSE:andNYSE:HVT.A) today reported sales for the month ended April 30, 2007.
Havertys' April sales decreased 17.1% to $53.6 million, compared with $64.7 million in April 2006. On a comparable-store basis, April sales decreased 18.1%. Comparable-store sales do not include stores or locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the first four months of 2007 decreased 10.6% to $244.7 million compared with $273.8 million in 2006. On a comparable-store basis, sales decreased 12.2% for the first four months.
Sales in Millions Total Comparable-
(unaudited) Sales Store Sales
2007 2006 % Change % Change
April $53.6 $64.7 - 17.1 % - 18.1 %
Four Months $244.7 $273.8 - 10.6 % - 12.2 %
Clarence H. Smith, president and chief executive officer, said, "We are experiencing a very difficult sales environment in residential home furnishings. April is typically our weakest month of the year and that has been exacerbated by the continued sluggish housing market to produce a poor monthly performance. There was one less Saturday in April this year which had a modestly negative impact on our monthly results since it is our busiest day of the week. The April decline in our total written sales was approximately 14%, a smaller decrease from last year than the delivered sales, but still very disappointing."
Havertys is a full-service home furnishings retailer with 121 showrooms in 17 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 http://www.havertys.com/ .
News releases include forward-looking statements, which are subject to risks 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 reports filed with the SEC.
Contact for Information: Dennis L. Fink, EVP & CFO or
Jenny Hill Parker, VP, Secretary & Treasurer
(404) 443-2900
DATASOURCE: HAVERTY FURNITURE COMPANIES, INC.
CONTACT: Dennis L. Fink, EVP & CFO, or Jenny Hill Parker, VP, Secretary
& Treasurer, +1-404-443-2900, both of HAVERTY FURNITURE COMPANIES, INC.
Web site: http://www.havertys.com/