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Havertys (NYSE: HVT, HVT-A) reported a 3.9% increase in third-quarter sales for 2020, reaching $217.5 million, compared to $209.3 million in Q3 2019. Notably, comparable store sales increased by 4.0%. Total written sales surged 22.8% year-over-year. Despite a 13.9% decline in sales for the first nine months of 2020 due to store closures amid the pandemic, demand has remained strong since reopening. The company aims to match delivery capacity with heightened demand, although product availability is currently constrained in certain categories.
HAVERTYS (NYSE: HVT, HVT-A) has appointed Derek G. Schiller, current President and CEO of the Atlanta Braves, to its board of directors. Schiller has over 17 years of experience with the Braves, where he manages critical business operations including corporate partnerships and ticket sales. His leadership was pivotal in developing Truist Park and The Battery Atlanta. Havertys is a home furnishings retailer operating 120 showrooms across 16 states, catering to middle and upper-middle price ranges.
HAVERTYS (NYSE: HVT, HVT-A) reported its Q2 2020 results, revealing a net income of $13.6 million, or $0.72 per share, up from $6.0 million, or $0.29 per share, in Q2 2019. Despite this, sales declined to $110 million from $191.9 million year-over-year. The company increased its Q3 dividend by 25% and resumed its stock repurchase program. However, challenges remain with inventory stress and vendor workforce issues. Future growth opportunities are emphasized with store openings planned in Dallas/Ft. Worth and Myrtle Beach.