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) announced a 13.6% increase in its quarterly cash dividend, raising it from $0.22 to $0.25 per share for common stock and from $0.20 to $0.23 for Class A common stock. The dividend, which reflects strong operating results, will be paid on June 16, 2021, to shareholders on record as of June 1. This marks the continuation of Havertys' commitment to return value to its shareholders, having paid dividends annually since 1935.
HAVERTYS (NYSE: HVT, HVT-A) reported a robust first quarter for 2021, with diluted earnings per share reaching $1.04 compared to $0.09 in 2020. Consolidated sales surged 31.8% to $236.5 million, while comparable store sales rose 11.5%. Gross profit margins improved to 57.1% due to pricing discipline. The company generated $19.6 million in cash from operations, and total cash and equivalents reached $210.1 million. Despite ongoing supply chain challenges, demand remains strong, though future consumer spending may shift.
Havertys (NYSE: HVT, HVT-A) is set to release its Q1 2021 financial results on April 27, 2021, after market close. Following this, a conference call for investors and analysts will be held on April 28, 2021, at 10:00 a.m. ET. The call will be accessible via live audiocast on their website, with a replay available until May 8, 2021. Havertys, a home furnishings retailer established in 1885, operates 121 showrooms across 16 states, offering a diverse range of quality products at middle to upper-middle price points.
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.
FAQ
What is the current stock price of Haverty Furniture Cos (HVT)?
What is the market cap of Haverty Furniture Cos (HVT)?
What is the core business of Haverty Furniture Companies Inc?
How long has Haverty been in business?
What types of products does the company offer?
How does Haverty create a distinctive customer experience?
In which regions does Haverty primarily operate?
What differentiates Haverty from other furniture retailers?
How does Haverty’s expertise reflect in its product offerings?
What are the key elements of Haverty's business model?
