Welcome to our dedicated page for Haverty Furniture Cos news (Ticker: HVT), a resource for investors and traders seeking the latest updates and insights on Haverty Furniture Cos stock.
Haverty Furniture Companies, Inc. reports developments as a full-service home furnishings retailer serving Southern and Midwestern markets with residential furniture and accessories in middle to upper-middle price ranges. Recurring updates cover operating results, delivered and written sales, comparable-store sales, gross margin, average ticket trends, merchandise categories such as upholstery and bedroom furniture, and the company’s in-home design program.
Havertys news also includes store-growth activity, cash dividend declarations on its common and Class A common stock, participation in consumer and retail investor conferences, and governance changes such as board appointments. The company was established in 1885 and trades on the NYSE under HVT and HVT.A.
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.
Havertys (NYSE: HVT) will report its second quarter 2020 financial results on August 10, 2020, after market close. A conference call with investors is scheduled for August 11, 2020, at 10:00 a.m. ET, to discuss the results. The company operates 119 showrooms across the Southern and Midwestern U.S. and offers quality home furnishings. Forward-looking statements highlight potential risks due to COVID-19, including supply chain disruptions and compliance with debt covenants. Investors can listen to the live call on Havertys' website.
Havertys (NYSE: HVT) reported a total sales drop to $110.0 million for Q2 2020, down from $191.9 million in Q2 2019. Despite store closures due to COVID-19, written sales for the two months ending June 30, 2020, rose 13.9% year-over-year. However, sales from May 5 to June 30 fell by 13.4% compared to the same period in 2019. The company remains cautiously optimistic amid ongoing uncertainties, focusing on delivery operations and staffing adjustments.
HAVERTYS (NYSE: HVT) reported Q1 2020 earnings per share of $0.09, down from $0.17 in Q1 2019. Sales decreased by 4.2% to $179.4 million, while gross profit margins improved to 55.5%. The company declared a cash dividend of $0.15 for common stock and $0.14 for Class A common stock, payable on June 19, 2020. Store closures due to COVID-19 impacted business, leading to a hiring freeze, salary reductions for executives, and a 25% cut in quarterly dividends. Despite challenges, 103 stores reopened by May 1, reflecting resilience in adapting operations during the pandemic.
Havertys (NYSE: HVT) will release its first-quarter 2020 financial results on May 20, 2020, post-market close. A conference call for investors and analysts is set for May 21, 2020, at 10:00 a.m. (ET) to discuss these results. Interested parties can access a live audiocast via the company's website, with replays available until May 31, 2020. Havertys, established in 1885, operates 120 showrooms across 16 states, offering a selection of quality home furnishings.
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