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 (NYSE: HVT, HVT-A) reported strong financial results for Q4 and FY 2021. Q4 sales jumped by 10.2% to $265.9 million, with a 9.2% rise in comparable store sales. EPS decreased slightly to $1.35 from $1.37. Annual sales reached a record $1,012.8 million, up 35.4%, and EPS rose to $4.90 from $3.12. Pre-tax income also surged to $118.5 million, compared to $76.7 million in 2020. The company plans to repurchase $25 million in shares in H1 2022 and expects gross profit margins to remain steady between 56.7% and 57.0% for 2022.
Havertys (NYSE: HVT and HVT.A) will announce its fourth quarter and year-end 2021 financial results on February 15, 2022, post-market. A conference call is scheduled for February 16, 2022, at 10:00 a.m. ET to discuss these results. The call can be accessed live on the company's website, with a replay available until February 26, 2022. Havertys, founded in 1885, operates 121 showrooms across 16 states, offering quality home furnishings in mid to upper-middle price ranges.
Havertys (NYSE: HVT, HVT-A) announced a special cash dividend of $2.00 per common share and $1.90 per Class A share, alongside a quarterly dividend of $0.25 and $0.23, respectively. Both dividends will be distributed on December 8, 2021, to shareholders on record by November 22, 2021. The board also sanctioned a new stock repurchase program allowing up to $25 million in buybacks. CEO Clarence H. Smith emphasized that this decision reflects the company's robust balance sheet and aims to balance dividends with capital for future growth.
HAVERTYS (NYSE: HVT and HVT.A) reported robust third-quarter results for 2021, with diluted earnings per share (EPS) of $1.31, up from $0.97 in 2020. Sales surged by 19.7% to $260.4 million, while comparable store sales increased by 17.7%. Gross profit margins improved to 56.8%, attributed to effective pricing strategies. However, challenges remain with supply chain disruptions and fluctuating product costs. The company anticipates merchandise availability issues into early 2022. Total cash reserves reached $232.4 million, and the company has proactively increased its capital expenditures for growth initiatives.
Havertys (NYSE: HVT, HVT-A) is set to announce its third quarter 2021 financial results on October 28, 2021, after market close. A conference call for discussion with investors and analysts will follow on October 29, 2021, at 10:00 a.m. ET. Interested parties can access the live audiocast on the company's website, with a playback option available until November 8, 2021. Established in 1885, Havertys operates 121 showrooms across 16 states, offering a variety of quality home furnishings at middle to upper-middle price points.
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.
Havertys (NYSE: HVT, HVT-A) announced a cash dividend of $0.25 per share for common stock and $0.23 for Class A common stock, payable on September 8, 2021. This dividend reflects a continuous payment history since 1935. Additionally, the board approved a stock repurchase program allowing up to $25 million in buybacks, following approximately $8.2 million remaining from previous authorizations. The company repurchased about 235,000 shares for $8.6 million during Q3 2021. CEO Clarence H. Smith emphasized the board's commitment to balanced capital allocation and future growth.
HAVERTYS (NYSE: HVT, HVT-A) reported a significant increase in second quarter 2021 results, with diluted earnings per share at $1.21 compared to $0.72 in 2020. Consolidated sales soared to $250 million, a 127.3% rise from $110 million in the previous year, fueled by a 46.9% increase in comparable store sales. Gross profit margins also improved to 56.6%. The company emphasizes the strength of its cash position, expected gross profit margins for 2021 between 56.5% and 56.8%, and ongoing strategic investments amid challenges from product shortages and rising costs.
Havertys (NYSE: HVT, HVT-A) is set to release its Q2 2021 financial results on July 27, 2021, following the market close. A conference call for investors will take place on July 28, 2021, at 10:00 a.m. ET, where the company will discuss its operational results. Interested individuals can access a live audiocast via Havertys' website, with a replay available until August 7, 2021. Havertys, established in 1885, operates 121 showrooms across 16 states, focusing on quality home furnishings.
Havertys (NYSE: HVT, HVT.A) will participate in the inaugural Shareholder Equity Conference on July 12, 2021, at 3:10 p.m. ET. The virtual event, hosted by Asbury Investor Relations and Stockperks, allows retail investors to interact with management during a fireside chat format. Interested parties can access a live stream of the presentation on Havertys' website and an archived replay will be available for 90 days post-event. Established in 1885, Havertys serves customers in 16 states with a variety of home furnishings.
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