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Haverty Furniture Companies, Inc. - HVT STOCK NEWS

Welcome to our dedicated page for Haverty Furniture Companies news (Ticker: HVT), a resource for investors and traders seeking the latest updates and insights on Haverty Furniture Companies stock.

Haverty Furniture Companies, Inc. (NYSE: HVT), established in 1885, is a leading specialty retailer in the home furnishings industry. From its humble beginnings as a single store in downtown Atlanta, Havertys has grown to operate more than 120 showrooms in 17 states across the Southern and Midwestern United States. The company offers a wide array of quality merchandise, including sofa tables, sleepers, end tables, cocktail tables, accent pieces, display cabinets, wall decor, and more.

Havertys prides itself on providing a superior customer experience, both online and in-store, supported by knowledgeable associates and in-home designers. Each piece of furniture is exclusively crafted for the Havertys brand, ensuring customers receive high-caliber products that are both fashionable and functional.

Despite economic challenges such as inflation and rising interest rates, Havertys has reported significant achievements. For instance, their 2023 second-quarter sales hit an all-time high, largely due to their free in-home design service, which contributed to 28.6% of total sales. This period also saw a historic peak in gross profit margins as a result of lower freight and product costs.

Havertys is continuously expanding its footprint. In 2023, the company secured four locations from the Bed Bath & Beyond bankruptcy, aiming to open new stores in Memphis, TN, and Florida markets like Destin and St. Petersburg by early 2024. This strategic growth will leverage Havertys' best-in-class distribution network to reach a broader consumer base.

Financially, Havertys maintains a strong balance sheet. The company reported solid results for the third and fourth quarters of 2023, despite a challenging retail environment. Plans for further expansions continue, including new market entries such as Houston, TX, in 2024 and 2025. Their long-standing commitment to returning capital to shareholders is evidenced by consecutive annual dividend increases and share buybacks.

Havertys recently announced its participation in the inaugural Water Tower Research Furniture/Furnishings Virtual Conference and continues to actively engage with investors through various platforms. The company’s resilience and strategic initiatives position it well for future growth and market share expansion.

For more detailed financial updates and upcoming events, investors are encouraged to visit the company's investor relations site at ir.havertys.com.

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Havertys (NYSE: HVT and HVT.A) has announced it will release its second quarter 2024 financial results on Wednesday, July 31, 2024, after market close. The company will host a conference call with investors and analysts on Thursday, August 1, at 10:00 a.m. ET to discuss the operational results. Interested parties are invited to listen to the live webcast of the conference call on the company's website at http://ir.havertys.com. The webcast will be archived and available for replay beginning at approximately 1:00 p.m. ET on August 1.

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Havertys (NYSE:HVT) announced the promotion of Greg Davis to senior vice president, information technology. Davis, who has been with Havertys since 1990, will now oversee the company's technology systems to support strategic goals. Previously, he served as vice president, information technology development, where he led the creation of unified operational systems and implemented a modern data warehouse and an Adobe-based replatforming of the website. Davis holds a computer science degree from the Georgia Institute of Technology. He will report to Clarence Smith, CEO. The announcement follows the planned retirement of Ed Clary, executive vice president and chief information officer, who will serve as a strategic advisor until his retirement in July 2024.

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Havertys (NYSE:HVT and HVT.A) announced a 6.7% increase in quarterly dividend, with diluted EPS dropping to $0.14 from $0.74. Sales decreased by 18.1%, but gross profit margin rose to 60.3%. The company plans to open new stores and invest in business expansion.

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Havertys, a furniture retailer, will announce its first quarter 2024 financial results on May 1, 2024, and host an earnings conference call on May 2, 2024, at 10:00 a.m. ET for investors and analysts. The conference call will be available for replay on the company's website.
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Havertys (NYSE:HVT) nominates Natalie B. Morhous, CEO of RaceTrac, to its board of directors. Morhous brings extensive leadership experience and strategic insights to the company. The announcement also includes the retirement of current director Mylle H. Mangum.
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Havertys (HVT) declares a cash dividend for its common stock and Class A common stock, continuing its long history of dividend payments.
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Havertys (HVT) reported Q4 2023 results with diluted EPS of $0.90, a decrease in sales by 24.9% to $210.7 million, and a pre-tax income drop to $18.5 million. For FY 2023, EPS was $3.36, sales decreased by 17.7% to $862.1 million, and pre-tax income was $72.7 million. The company returned $42.1 million to shareholders in 2023 and has a strong balance sheet to support strategic growth plans.
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Havertys (HVT) to release Q4 and year-end 2023 financial results on February 21, 2024. Conference call scheduled on February 22 at 10:00 a.m. ET. Webcast available for replay on the company's website.
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Havertys (HVT) to participate in Water Tower Research Furniture/Furnishings Virtual Conference on January 17, 2024. Clarence H. Smith, chairman and CEO, to join a fireside chat at 10:30 a.m. Eastern Time. The event will feature presentations by furniture manufacturers, wholesalers, and suppliers, focusing on corporate strategies, competitive strengths, and challenges.
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Havertys (HVT) announces 'FURnishing Happiness' initiative in partnership with Furkids to help shelter dogs find homes.
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FAQ

What types of products does Havertys offer?

Havertys offers a variety of home furnishings including sofa tables, sleepers, end tables, cocktail tables, accent pieces, display cabinets, wall decor, and more.

How many stores does Havertys operate?

Havertys operates over 120 showrooms in 17 states across the Southern and Midwestern United States.

What makes Havertys' furniture unique?

Each piece of Havertys furniture is made exclusively for their brand, ensuring high-quality and fashionable products.

How has Havertys performed financially in recent quarters?

Havertys has reported strong financial performance despite economic challenges, including historic highs in gross profit margins and all-time high average ticket sales in the second quarter of 2023.

What are Havertys' recent expansion plans?

Havertys plans to open new stores in locations such as Memphis, TN, and various Florida markets by early 2024. They also aim to enter the Houston, TX market by late 2024.

What is Havertys' approach to customer service?

Havertys offers a positive buying experience both online and in-store, supported by knowledgeable associates and in-home designers who provide expert tips and tools.

Does Havertys offer any special services?

Yes, Havertys provides a free in-home design service which has significantly contributed to their sales growth.

How does Havertys return value to its shareholders?

Havertys has a history of paying annual cash dividends since 1935 and has increased its quarterly cash dividends each year since 2008. The company also engages in share buybacks.

How can investors get more information about Havertys?

Investors can visit Havertys' investor relations website at ir.havertys.com for detailed financial updates and upcoming events.

What challenges has Havertys faced recently?

Challenges include inflation, rising interest rates, and a weak housing market. Despite these, the company has maintained strong financial performance and continues to expand.

Haverty Furniture Companies, Inc.

NYSE:HVT

HVT Rankings

HVT Stock Data

422.30M
14.96M
10.69%
90.05%
7.96%
Furniture Stores
Retail Trade
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United States of America
ATLANTA