Havertys Reports November Sales Decline

Furniture World Magazine

Havertys' November sales decreased 7.7% to $72.6 million, compared with $78.6 million in November 2006. On a comparable-store basis, November sales decreased 10.7%. Comparable-store sales do not include stores or locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the eleven months of 2007 decreased 9.1% to $713.8 million compared with $785.2 million in 2006. On a comparable-store basis, sales decreased 10.9% for the eleven months. Clarence H. Smith, president and chief executive officer, said, "Our November sales results were not out of line with our expectations given the housing weakness in many of our markets and mortgage financing concerns. These and other factors continue to cause a challenging environment for retail sales of home furnishings." Havertys is a full-service home furnishings retailer with 123 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.