Haverty Furniture Companies, Inc. operates as a specialty retailer of residential furniture and accessories. The company provides its products under the Havertys brand name. It also offers mattress products under the Sealy, Serta, and Tempur-Pedic names. In addition, the company provides financing through an internal revolving charge credit plan, as well as a third-party finance company. Its customers include college educated women in middle to upper-middle income households. Haverty Furniture Companies, Inc. sells home furnishings through its retail stores, as well as through its Website. As of March 31, 2013, the company operated was 121 retail stores. Haverty Furniture Companies, Inc. was...
780 Johnson Ferry Road
Atlanta, GA 30342
Founded in 1885
Haverty Furniture Companies Inc. Declares Second Quarter Dividend Payable on June 11, 2013
May 14 13
Haverty Furniture Companies Inc. announced that on May 14, 2013, its board of directors declared a quarterly cash dividend to be paid on the two classes of $1 par value common stock of the company at a rate of $0.04 per share on the outstanding shares of Common Stock and $0.0375 per share on the outstanding shares of Class A Common Stock. The dividend is payable on June 11, 2013 to stockholders of record at the close of business on May 28, 2013.
Haverty Furniture Companies Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013; Reports Sales Results for the Second Quarter to Date Ended May 1, 2013; Provides Earnings Guidance for the Full Year 2013; Expects to Expand 3 Stores; and Plans to Close Virginia Location in Early May 2013
May 2 13
Haverty Furniture Companies Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company’s net sales were $186,090,000 against $163,569,000 a year ago. Income before income taxes was $13,450,000 against $4,021,000 a year ago. Net income was $8,260,000 against $2,457,000 a year ago. Earnings on common stock and Class A common stock was $0.36 diluted per share against $0.11 diluted per share a year ago. Net cash provided by operating activities was $5,389,000 against $11,192,000 a year ago. Capital expenditures were $3,972,000 against $3,707,000 a year ago.
The company total delivered sales for the second quarter to date ended May 1, 2013 are up approximately 14% over the same period last year. Written business, which was relatively flat in 2012 for this period, is currently trending up approximately 19% after adjusting for favorable calendar differences.
The company expects that annual gross profit margins for 2013 will be somewhat ahead of the annual 2012 level of 52.5% and below the adjusted 53.5% first quarter result. The effective tax rate for 2013 is expected to be in the 38.5% to 38.6% range. Planned capital expenditures for 2013 are $20.0 million.
The company expects to expand three of the stores undergoing major remodeling and complete another 18 of Bright Inspirations store refreshes.
The company closed store in Mississippi in mid-April and will close a Virginia location in early May 2013. These and other changes should result in a 1.0% to 2.0% decrease in total retail square footage from 2012.
Haverty Furniture Companies Inc. to Report Q1, 2013 Results on May 01, 2013
Apr 28 13
Haverty Furniture Companies Inc. announced that they will report Q1, 2013 results After-Market on May 01, 2013