Haverty's December Same Store Sales Decline 7.4%

Furniture World Magazine

Havertys' December sales decreased 4.3% to $70.8 million compared with $73.9 million in December 2006. On a comparable-store basis, December sales decreased 7.4%. Comparable-store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the twelve months of 2007 totaled $784.6 million versus $859.1 million for 2006, representing a decrease of 8.7%. On a comparable-store basis, sales decreased 10.6% for the twelve months. "December's sales continued the declines experienced during the first two months of the quarter," said Clarence H. Smith, president and chief executive officer. "Our total written business for the month of December was slightly off compared to 2006 and the 2008 New Year's holiday period was modestly positive compared to a year ago." 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 .