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Havertys net income dips in Q3, plans 5 new stores
Atlanta -– Net income at Havertys dropped 17% to $7.82 million in the third quarter of fiscal 2014 from $9.49 million in the same period the previous fiscal year, with higher selling, general and administrative (SG&A) expenses dampening profits. Havertys plans to open one new store in the fourth quarter of fiscal 2014 and four in new stores in the first half of 2015, three in new markets. Net sales climbed 3% to $198.5 million from $192.72 million. Same-store sales rose 1.9%. -
Study: Online grocery sales to near $100 billion by 2019
Rockville, Md. -- Online grocery shopping sales will grow roughly fourfold from about $23 billion in 2014 (accounting for 3.5% of total online and offline grocery spending) to approach $100 billion by 2019 (capturing 12% of total grocery spending). Market research publisher Packaged Facts forecasts that online grocery service providers will develop models that solve logistics problems while being profitable for the operators.