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. (NYSE: HVT and HVT.A) is a full-service home furnishings retailer in the furniture stores industry, focused on residential furniture and accessories. The company operates showrooms in 17 states across the Southern and Midwestern United States and emphasizes a wide selection of quality merchandise in middle to upper-middle price ranges. Its news flow offers insight into both its retail operations and its role as a long-standing public company.
On this page, readers can find news items such as quarterly operating results, where Havertys reports metrics like net sales, gross profit margins, comparable-store sales, SG&A trends, and EBITDA reconciliations. These releases often discuss factors influencing performance, including written business, sales per square foot, and the mix of variable versus fixed and discretionary expenses.
Havertys also issues dividend announcements, reflecting its history of paying a cash dividend in each year since 1935 and periodic changes in quarterly dividend rates on its common and Class A common stock. In addition, the company regularly publishes updates on investor conferences and fireside chats, including participation in events hosted by firms such as Evercore, Telsey Advisory Group, Sidoti, and ICR, where its leadership team meets with investors and analysts.
Investors and followers of HVT can use this news feed to review the company’s earnings releases, capital allocation updates, and corporate presentations over time. Returning to this page allows users to track how Havertys communicates about its financial performance, store base, and strategic priorities in the context of the home furnishings retail sector.
Havertys (NYSE: HVT) reported its Q2 2024 operating results, showing a 13.4% decrease in consolidated sales to $178.6 million and a 13.6% decline in comparable-store sales compared to Q2 2023. The company's diluted EPS dropped to $0.27 from $0.70 in the same period last year, while the gross profit margin slightly decreased to 60.4% from 60.5%.
Despite the challenging demand cycle, Havertys is focusing on top-line growth, operating efficiencies, and cost reductions. The company announced plans to open a second store in the Indianapolis market, located in Greenwood, Indiana, expected to launch in Q4 2024. Havertys aims to open a net of five new stores in 2024 and 2025, leveraging its strong financial position to invest during market downturns.
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.
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.
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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