Haverty Furniture Cos Inc Stock Price, News & Analysis

On February 23, 2021, Havertys (NYSE: HVT, HVT-A) announced key promotions in its leadership team, with Steven Burdette becoming president on March 1, 2021. He brings over 37 years of experience with Havertys, previously serving as executive vice president of operations. The board declared a cash dividend of $0.22 per common share and $0.20 per Class A common share, payable on March 25, 2021, to shareholders of record as of March 12, 2021. Havertys has consistently paid dividends since 1935. This strategic leadership change aims to enhance the company's growth.

Havertys reported robust performance for Q4 and FY 2020, showcasing diluted EPS of $1.37 for Q4 2020, significantly up from $0.31 in Q4 2019. Consolidated sales grew by 12.9% to $241.3 million in Q4, while annual sales decreased 6.7% to $748.3 million due to mid-year operational pauses. Adjusted EPS reached $1.37 for Q4 and $1.88 for FY. Despite challenges in merchandise availability, the company maintained a strong balance sheet, returning $70 million to shareholders through dividends and stock repurchases. Future gross profit margins are projected between 55.3% and 55.8% for 2021.

Havertys (NYSE: HVT and HVT.A) will announce its fourth quarter and full-year 2020 financial results on February 17, 2021, after market close. A conference call for investors and analysts is scheduled for February 18, 2021, at 10:00 a.m. (ET) to discuss the results. The live audiocast can be accessed via Havertys' website, with a replay available until February 25, 2021. The company, established in 1885, is a retailer in the home furnishings sector, operating 120 showrooms across 16 states.Forward-looking statements will cover various operational aspects, including the impact of the COVID-19 pandemic.

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.

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.