Havertys Reports Earnings for Second Quarter 2019
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Haverty (HVT) Reports In-Line Q2 EPS, Revenues Miss
July 30, 2019 4:53 PM EDTHaverty (NYSE: HVT) reported Q2 EPS of $0.27, in-line with the analyst estimate of $0.27. Revenue for the quarter came in at $191.9 million versus the consensus estimate of $194.32 million.
Net sales decreased 3.5% to $191.9 million. Comparable store sales decreased 2.3%.Total written sales for the second quarter of 2019 were down 4.1% and written comparable store sales decreased 3.1%.Average written ticket increased 5.3% and custom upholstery business was up 7.6%.Gross profit margins fell 20 basis points to 54.0% in 2019 versus 54.2% in 2018. Approximately one-half of the decline is due to merchandise pricing and mix as we used slightly more... More