Haverty Furniture Reports January Sales Decline

Furniture World Magazine

Haverty Furniture Companies reported sales for the month ended January 31, 2007. Havertys' January sales decreased 3.0% to $64.9 million, compared with $66.9 million in January 2006. On a comparable-store basis, January sales decreased 4.4%. Comparable-store sales do not include stores or locations opened, closed or otherwise non-comparable during the last 12 months. "Our January started very slowly with weak business for the New Year's holiday in many of the markets we serve," said Clarence H. Smith, president and chief executive officer. "We experienced a gradual increase in momentum throughout January with total written sales off by about 6% for the full month. "The general trend for retail home furnishings sales remains sluggish. We have continued to maintain our pricing integrity and are focusing on adjusting our operating costs to meet the current business conditions. We are committed to being the best source for stylish, affordable furniture and providing a cohesive customer experience reflecting our brand. Havertys is a full-service home furnishings retailer with 120 showrooms in 17 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.