A shift in the timing of a major holiday was cause for celebration at home furnishings retailer Havertys Furniture Companies Inc.
Sales in the second quarter of fiscal 2016 at Havertys rose 4% to $194.8 million, from $187.7 million the same period a year earlier. Same-store sales increased 2.8%. Written total and same-store sales for the second quarter both rose 6%.
Havertys' stores are closed for Easter. The positive impact on second quarter written sales from the holiday occurring in March compared to April of the prior year is estimated at 1.5%.
“Our sales results for the second quarter were as expected and in line with our June 15 sales update,” said Clarence H. Smith, chairman, president and CEO. “The upholstery, mattress, occasional, and accessories product categories led the year-over-year sales increases for the second quarter. Havertys’ in-home designers were integral to our second quarter sales as they spurred purchases of custom upholstery and accessories.”
Smith also said that consumer spending continues to coalesce around traditional holiday sales events. Havertys’ written business for the four-day July 4 holiday sales period was up approximately 9.5% in total and 9% for same-store sales. The retailer has new summer-themed advertising in place and promotional activities planned for the coming weeks.
Havertys operates 122 stores in 16 states in the Southern and Midwestern regions of the U.S.