AP NEWS

Havertys Reports Sales for Second Quarter

July 6, 2018

ATLANTA, July 06, 2018 (GLOBE NEWSWIRE) -- HAVERTYS (NYSE:HVT) (NYSE:HVT.A) today reported sales for the quarter ended June 30, 2018.

Havertys sales for the second quarter 2018 increased 1.0% to $198.8 million, compared with $196.8 million for the second quarter of 2017. On a comparable store basis, sales for the quarter increased 1.3%. Comparable store sales do not include locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the first six months of 2018 totaled $398.2 million, compared with $397.3 million in 2017, representing an increase of 0.2%. On a comparable store basis, sales increased 0.1% for the first six months.

Total written sales for the second quarter of 2018 were up 1.1% and written comparable store sales were up 1.5%.

Sales in Millions (unaudited) Compar ----------------- Total able Sales Store % Sales 2018 2017 Change% Change -------------- ------ ---------- ----- ----- Second Quarter $198.8 $196.8 1.0 % 1.3 % -------------- ------ ---------- --- - --- - Six Months $398.2 $397.3 0.2 % 0.1 % -------------- ------ ---------- --- - --- -

Clarence H. Smith, chairman, president and CEO, said, “We had modest sales gains with our bedroom furniture and accessories product categories leading the year over year increases in the second quarter. We were pleased that our overall average sales ticket continued to increase this quarter, bolstered by our HDesigner sales.

We closed two stores during the quarter, as previously announced, and our store count is 121 versus 124 a year ago. As we rationalize our physical footprint, we remain focused on providing an outstanding customer experience across all touchpoints. Sales completed online during the second quarter were up 18%, driven by Havertys team members using new tools that engage our customers and strengthen our competitive position.”

The Company will release second quarter 2018 financial results on Tuesday, July 31, 2018, after the market closes. Havertys will host a conference call with analysts and investors on Wednesday, August 1, 2018 at 10:00 AM (ET).

About Havertys

Havertys (NYSE: HVT and HVT.A), established in 1885, is a full-service home furnishings retailer with 121 showrooms in 16 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 havertys.com.

News releases include forward-looking statements, which are subject to risk and uncertainties. Factors that might cause actual results to differ materially from future results expressed or implied by such forward-looking statements include, but are not limited to, general economic conditions, the consumer spending environment for large ticket items, competition in the retail furniture industry and other uncertainties detailed from time to time in the Company’s report filed with the SEC.

Contact: Haverty Furniture Companies, Inc., 404-443-2900

Richard B. Hare EVP & CFO Jenny Hill Parker SVP, Finance, Secretary and Treasurer

Source: Havertys

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