Havertys Updates Third Quarter Sales Performance

Rhea-AI Summary

Havertys (NYSE: HVT and HVT.A) announced a meeting with institutional investors on September 22-23, 2021, to discuss its operations. Sales for Q3 2021 are up 21.2% year-over-year, with comparable store sales rising 19.5%. Additionally, written business has increased by 2.7% overall and 1.0% on a comparable basis. Despite strong performance, the company faces supply chain concerns due to ongoing lockdowns in Vietnam. The financial results for Q3 2021 will be announced on October 28, 2021.

Positive

• Q3 2021 sales up 21.2% year-over-year.
• Comparable store sales increased by 19.5%.
• Written business grew 2.7%, with comparable written business up 1.0%.

Negative

• Supply chain disruptions remain a concern due to lockdowns in Vietnam.

ATLANTA, Sept. 20, 2021 (GLOBE NEWSWIRE) -- HAVERTYS (NYSE: HVT and HVT.A) today reported members of the company's senior management are scheduled to meet on September 22^nd and 23^rd with institutional investors and discuss the company’s operations. In anticipation of these meetings, Havertys also today released updated sales information.

Havertys sales for the third quarter to date of 2021 are up approximately 21.2% over the same period last year and comparable store sales are up 19.5%. Written business for the third quarter to date over the same period last year is up 2.7% and comparable written business is up 1.0%. This pace of business compares to the full third quarter of 2020 over 2019 and that period's increases in sales of 3.9% and written business of 22.8%.

“Our business continues to be strong as we work to deliver customers’ purchases and help them create their vision of home,” said Clarence Smith, chairman and chief executive officer. “Merchandise availability impacts our business and supply chain disruptions remain a concern, particularly as lockdowns continue in Vietnam," Smith concluded.

The Company plans to announce third quarter 2021 financial results on October 28, 2021, after the market closes.

About Havertys

Havertys (NYSE: HVT and HVT.A), established in 1885, is a full-service home furnishings retailer with 121 showrooms in 16 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Additional information is available on the Company’s website at www.havertys.com.

Contact:
Havertys 404-443-2900
Jenny Hill Parker
SVP, finance and corporate secretary

SOURCE: Havertys

 

FAQ

What are Havertys' sales figures for Q3 2021?

Havertys reported sales up 21.2% in Q3 2021 compared to the same period last year.

When will Havertys announce its Q3 2021 financial results?

Havertys plans to announce its Q3 2021 financial results on October 28, 2021, after the market closes.

What challenges is Havertys facing in its supply chain?

Havertys is experiencing supply chain disruptions, particularly due to ongoing lockdowns in Vietnam.

How did Havertys' comparable store sales perform in Q3 2021?

Comparable store sales for Havertys increased by 19.5% in Q3 2021.

What is the ticker symbol for Havertys?

Havertys is listed under the ticker symbols HVT, HVT-A, and HVT.A.