Havertys Sales Gain for Q4, Fiscal Year
ATLANTA-Havertys posted significant gains in net sales for both its fourth quarter and fiscal year, according to a preliminary report from the specialty retailer.
For the fourth quarter, net sales tallied $196.2 million, up 7.6 percent from the fourth quarter of last year. This brought the fiscal-year sales total to $746.1 million, an increase of 11.3 percent. Same-store sales registered gains of 9.5 percent for the quarter and 11 percent for the year.
Clarence Smith, Havertys chairman, president and CEO, said 2013 proved to be the retailer's best year since 2007. Havertys reported sales gains across its full line of home furnishings. "The quarter was marked by a continued expansion of our custom-order business, free in-home design service and higher average ticket," Smith said.
He also predicted continued increases for the new year. "Our merchandising and marketing are differentiating us from the competition and, combined with sustained increases in home sales and home prices, we believe our sales and market share will continue to grow in 2014," Smith said.