Haverty Furniture Companies (NYSE:HVT) reported strong growth in higher-ticket furniture purchases and its in-store design business, despite monitoring freight costs and tariffs. For the second quarter, the Atlanta-based retailer experienced an 8% increase in comparable sales, with year-to-date written comparable sales rising 12.3%.
President and CEO Steve Burdette noted that average ticket values rose approximately 15% to about $8,800, with design sales accounting for nearly 36.5% of revenue. Haverty plans to open its 130th store in Fredericksburg, Virginia, and expects a net increase of four locations by year-end, reaching a total of 133 stores in 17 states.
Haverty’s inventory stands at over $100 million, projected to fall between $90 million and $100 million by year-end, with markdowns at an all-time low. The company aims for sustained low-single-digit comparable-store growth to enhance profitability and is targeting $1 billion in revenue over the long term.
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