Havertys net income stays flat in Q2

Atlanta – A rising cost of sales kept net income at Havertys Inc. essentially flat at about $4.83 million during the second quarter of fiscal 2015. Profit stayed even despite net sales rising 7% to $187.73 million, from $175.13 million the same period a year earlier.



Same-store sales increased 4.8%. Havertys plans to open a net total of three new stores by the end of the fiscal year.



“We are encouraged by the improvements in the macro environment in both housing and wages, key drivers of our business,” said Clarence H. Smith, president, chairman and CEO. “We have strengthened our brand in existing markets and have expanded into new communities. Our team is executing plans to ensure we have the best value and quality product of any furniture retailer.”