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.
Havertys (HVT, HVT.A) announced its participation in the Sidoti December Virtual Investor Conference on December 7, 2022. CEO Clarence H. Smith and CFO Richard B. Hare will present and engage in one-on-one meetings with investors. The presentation starts at 9:15 AM ET and will be accessible live. Registration for the event is free, enabling investors to directly interact with Havertys management. Established in 1885, Havertys is a home furnishings retailer with 122 showrooms across the Southern and Midwestern U.S.
Havertys (NYSE:HVT, HVT.A) has authorized a special cash dividend of $1.00 per share on its common stock and $0.95 per share on Class A shares. Additionally, a quarterly dividend of $0.28 for common stock and $0.26 for Class A shares has been approved. Both dividends will be paid on December 13, 2022, to stockholders of record by November 28, 2022. Havertys has consistently distributed cash dividends since 1935.
Havertys (NYSE:HVT and HVT.A) announced the election of Michael R. Cote to its board of directors, effective November 11, 2022. Cote, who retired as CEO of Secureworks in 2021, brings extensive leadership experience and a customer-focused approach to the board. He will serve on the audit committee. Chairman Clarence H. Smith praised Cote's entrepreneurial spirit and expertise as beneficial for the company's growth. Havertys operates 121 showrooms across the Southern and Midwestern U.S., offering quality home furnishings.
Havertys (NYSE:HVT and HVT.A) will present at the SHARE Series event on November 14, 2022, at 10:30 ET. This virtual fireside chat aims to connect management with retail investors, allowing them to submit questions during the session. The presentation will be streamed live and archived for 90 days on the SHARE Series website. Established in 1885, Havertys operates 122 showrooms across 16 states, offering a variety of home furnishings in the middle to upper-middle price ranges.
Havertys reported strong third-quarter results for 2022, with diluted EPS rising to $1.46 from $1.31 in 2021. Consolidated sales increased 5.4% to $274.5 million, driven by a 6.3% increase in comparable store sales and a gross profit margin improvement to 57.1%. However, written business fell 7.2% compared to last year's record pace. CEO Clarence H. Smith noted challenges ahead due to inflation and market volatility but expressed confidence in the company's position for growth in 2023.
Havertys (NYSE:HVT) will announce its Q3 2022 financial results on November 1, following the market close. A conference call for investors and analysts is scheduled for November 2 at 10:00 a.m. ET to review operational results. Interested parties can access the live webcast on Havertys' investor relations website, with an archived version available post-call. Established in 1885, Havertys operates 121 showrooms across 16 states, offering a range of quality home furnishings at competitive prices.
Havertys (NYSE:HVT and HVT.A) announced participation in the Piper Sandler Growth Frontiers Conference in Nashville, TN, scheduled for September 13, 2022. Company's CEO Clarence H. Smith and CFO Richard B. Hare will engage in 1x1 investor meetings. Attendees can access presentation materials through the company's website.
Established in 1885, Havertys operates 121 showrooms across 16 states in the Southern and Midwestern regions, offering a range of quality home furnishings in middle to upper-middle price ranges.
Havertys, a renowned furniture retailer, celebrates over 125 years of operations in Texas. To mark this milestone, the company has partnered with Four Hands Art Studio to launch an exclusive art collection available in its 22 Texas showrooms. This collection features six pieces that reflect Texas culture, utilizing cutting-edge printing technology for vibrant, fade-resistant artwork. Havertys aims to highlight its commitment to quality craftsmanship while honoring both Texas and its loyal customers.
Havertys (NYSE:HVT, HVT.A) reported its Q2 2022 results, revealing a 1.3% increase in consolidated sales to $253.2 million and a 1.1% rise in comparable store sales. Earnings per share improved to $1.27 from $1.21. Gross profit margin increased to 57.9%, driven by pricing discipline. However, total written sales dropped 13.3%. CEO Clarence H. Smith noted challenges ahead due to rising inflation and market volatility, though historical spending patterns suggest continued consumer investment in homes. Cash flow from operations stood at $26.3 million.
Havertys (NYSE:HVT, HVT.A) will announce its Q2 2022 financial results on August 2, after market close. A conference call will be held on August 3 at 10:00 a.m. ET for discussion with investors and analysts. Interested parties can listen to the live webcast on the company’s website, which will be available for replay afterward. Established in 1885, Havertys operates 121 showrooms across 16 states, offering a range of quality home furnishings.
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