Atlanta, GA, August 3--Haverty Furniture reported July sales that were off 5.5% to $66.6 million, compared with $70.4 million in July 2004. On a comparable-store basis, July sales decreased 8.8%.
Sales for the first seven months of 2005 increased 6.0% to $466.6 million compared with $440.3 million in 2004. On a comparable-store basis, sales increased 1.6% for the first seven months.
"Actual sales figures for July are the same as the preliminary results that were preannounced along with our second quarter earnings release on August 1, 2005," said Clarence H. Smith, president and chief executive officer. "As previously reported, written orders in July were up 3.2% in total versus last year with comparable stores off 1%. The July 4th holiday weekend was disappointing, but written orders on a comp basis were modestly positive for the remainder of July.
"There was one less delivery day in July this year as compared to 2004 which impacted total sales by an estimated 4%. Comparable-store sales for July last year were up 9.9%, so the comparison was difficult. Comp-store sales for August and September last year were down 4.1% and 8.4% respectively, largely due to disruptions from four hurricanes, so the comparison should be much easier," Smith concluded.
