Havertys Reports Operating Results for First Quarter 2025

About this update from Haverty Furniture Companies, Inc.

[{"type":"text","content":"ATLANTA, GA / ACCESS Newswire / April 30, 2025 / HAVERTYS (NYSE:HVT)(NYSE:HVT.A) today reported operating results for the first quarter ended March 31, 2025.","length":157,"tagName":"p"},{"type":"text","content":"First quarter 2025 versus first quarter 2024:","length":45,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Diluted earnings per common share ("EPS") of $0.23 versus $0.14.","length":74,"tagName":"p"}]},{"val":[{"type":"text","content":"Consolidated sales decreased 1.3% to $181.6 million. Comparable store sales decreased 4.8%.","length":91,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross profit margin was 61.2% compared to 60.3%.","length":48,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":213,"olType":false},{"type":"text","content":"Steven G. Burdette, President and CEO said, "We are pleased to report solid first quarter results with improved gross margins, earnings, and expense control, despite facing several headwinds, including a weak housing market, atypical winter weather in the South, low consumer confidence, and significant shifts in trade policy.","length":332,"tagName":"p"},{"type":"text","content":"Throughout our 140-year history, we have consistently demonstrated resilience in navigating changes in U.S. economic policy. This experience, along with our solid balance sheet, has equipped us to effectively manage the dynamic U.S. trade policy environment while continuing to serve our customers and deliver value to our shareholders."","length":342,"tagName":"p"},{"type":"text","content":"First Quarter ended March 31, 2025 Compared to Same Period of 2024","length":66,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total sales down 1.3%, comp-store sales down 4.8% for the quarter. Total written business was down 2.6% and comp-store written business declined 6.3% for the quarter.","length":166,"tagName":"p"}]},{"val":[{"type":"text","content":"Design consultants accounted for 33.2% of written business in 2025 and 32.4% in 2024.","length":85,"tagName":"p"}]},{"val":[{"type":"text","content":"Gross profit margins increased to 61.2% in 2025 from 60.3% in 2024.","length":67,"tagName":"p"}]},{"val":[{"type":"text","content":"SG&A expenses were 59.0% of sales versus 59.4% and decreased $2.2 million. The primary drivers of this ...

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