Haverty Furniture Companies Inc reported sales for the month ended October 31, 2006.
Havertys' October sales decreased 7.6 percent to $63.5 million, compared with $68.6 million in October 2005. On a comparable-store basis, October sales decreased 10.1 percent.
Comparable-store sales do not include stores or locations opened, closed or otherwise non-comparable during the last 12 months.
Sales for the first ten months of 2006 increased 5.3 percent to $706.5 million compared with $670.7 million in 2005. On a comparable-store basis, sales increased 3.5 percent for the first ten months.
Clarence H. Smith, President and Chief Executive Officer, said, "In our September sales release we noted that there had been weakness in written orders after Labor Day weekend. This trend continued throughout the month of October."
"Total written orders were off approximately 6 percent compared to October last year, after adjusting for the one less Saturday in this year's calendar.”
“We have focused on improving our in-stock position over the last several months and reducing the time needed to schedule and complete home deliveries to customers. With these service performance improvements our backlog is lower, so reported sales now more quickly reflect the recent rate of written orders.”
"For the month of October we had a total of twenty home delivery days, two less than last year. This fact also contributed to the lower reported sales."
Haverty Furniture Companies Inc
marketing@alchempro.com
