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.
Overview and Heritage
Haverty Furniture Cos Inc (HVT) stands as a distinguished name in the residential furniture retail space, operating with a long-standing heritage since its founding in 1885. With its origins in downtown Atlanta, the company has grown to become a reputable specialty retailer in the Southern and Midwestern United States, leveraging over a century of industry experience to tailor quality home furnishings to diverse customer tastes. The business consistently emphasizes excellence in design and quality, incorporating both modern and traditional styles to serve different lifestyles and interior design preferences.
Quality and Product Excellence
At its core, Haverty’s is dedicated to offering a wide range of furniture products that include upholstery items, bedroom furnishings, living room collections, and accent pieces. Every piece of merchandise is constructed exclusively under the Haverty brand standards, ensuring high-quality craftsmanship and a commitment to durability. The company’s focus on quality extends through its attentive in-store and online experiences, making consumer satisfaction a central part of its value proposition.
Customer Experience and Design Expertise
Integrating a personalized approach to home decor, Haverty’s is recognized for its in-home design consultations and expert advice through qualified associates and design professionals. These services empower shoppers to make informed decisions that reflect their unique personalities and style aspirations, enhancing the shopping experience and establishing trust. The company’s consistent search for excellence is reflected in its customer service, offering a seamless journey whether customers opt for in-store visits or online shopping.
Market Position and Business Model
In a competitive retail landscape, Haverty Furniture distinguishes itself through a balanced mix of exclusive product offerings and tailored customer service. Operating primarily through its robust merchandise division, the company derives substantial revenue from the retail of upholstery products and bedroom furniture, supported by a diversified portfolio of furniture categories from living rooms to accent displays. Its multi-channeled distribution approach, including physical showrooms and an evolving online presence, further solidifies its position as an authoritative furniture retailer within the market.
Industry Expertise and Strategic Focus
Haverty’s commitment to quality is rooted in decades of market expertise. The company’s operations are underpinned by strategic insights into customer behavior, retail merchandising, and store expansion, which collectively enable it to adapt to market trends without compromising on quality. With ongoing enhancements to its product offerings and customer engagement practices, Haverty’s continues to demonstrate an in-depth understanding of the home furnishings industry. This meticulous approach in design, operations, and customer service exemplifies the company’s adherence to high standards of expertise, authoritativeness, and trustworthiness.
Competitive Landscape and Value Proposition
The competitive edge of Haverty Furniture lies in its ability to combine style, quality, and personalized service. The company faces competition from other regional and national furniture retailers, yet it remains distinct by focusing on exclusive, in-house manufactured merchandise and a personalized shopping experience. This dual emphasis on quality and customer-centric services makes the brand a valuable reference point within the furniture retail sector for both casual shoppers and design aficionados alike.
Overall, Haverty Furniture Cos Inc exemplifies a blend of rich heritage, industry-specific expertise, and a vigilant commitment to superior product offerings. The company remains a central figure in the home furnishings market, continuously prioritizing customer satisfaction and rigorous quality standards to ensure that every piece of furniture delivered is a testament to its long-standing reputation in the industry.
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.
Havertys (NYSE: HVT, HVT-A) announced a significant 12% increase in its quarterly dividend, raising it from $0.25 to $0.28 per share for common stock, and from $0.23 to $0.26 for Class A common stock. The dividends are set to be paid on June 17, 2022, to shareholders of record by June 2, 2022. With a history of paying dividends since 1935, this decision reflects Havertys' strong financial position and commitment to shareholder returns, as stated by CEO Clarence H. Smith.
HAVERTYS (NYSE: HVT, HVT-A) reported its Q1 2022 results, showing sales of $238.9 million, a 1.0% increase year-over-year. Gross profit margin improved to 59.0% from 57.1%, driven by pricing strategies. Diluted earnings per share rose to $1.11 from $1.04. However, total written sales dropped 8.8%, reflecting challenges from inflation and decreased in-store traffic. Although the company remains confident in long-term goals, ongoing supply chain issues and rising operational costs may pose risks.
Havertys (NYSE: HVT, HVT.A) will announce its Q1 2022 financial results on May 2, 2022, after market close. A conference call for investors and analysts is scheduled for May 3, 2022, at 10:00 a.m. ET to discuss these results. Interested parties can access a live audiocast on the company’s website, with a replay available until May 13, 2022. Established in 1885, Havertys operates 122 showrooms across Southern and Midwestern states, offering a wide range of home furnishings.
Havertys (NYSE: HVT, HVT-A) announced a cash dividend of $0.25 per share on common stock and $0.23 per share on Class A common stock. This dividend will be paid on March 25, 2022, to stockholders of record as of March 11, 2022. The company has a long track record of dividend payments, continuing since 1935, showcasing its commitment to returning value to shareholders. With 121 showrooms in 16 states, Havertys provides quality home furnishings at competitive prices.
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