Havertys Reports Comparable Store Sales Decrease of .4%

Furniture World News

Haverty Furniture Company, Inc., reported sales for the month ended February 29, 2008. Havertys' February sales increased 3.0% to $61.9 million, compared with $60.1 million in February 2007. On a comparable-store basis, February sales decreased 0.4%. February results are for 29 days in 2008, a leap year, versus 28 days for 2007. Comparable-store sales do not include stores or locations opened, closed or otherwise non-comparable during the last 12 months. Sales for the first two months of 2008 decreased 1.4% to $123.3 million compared with $125.0 million in 2007. On a comparable-store basis, sales decreased 4.4% for the first two months. "Traditional sales events continue to be significant drivers for consumers' spending," said Clarence H. Smith, president and chief executive officer. "We had good response to our President's Day advertising and promotional mix, and our marketing team is using those results as we plan for future events. Total written sales were slightly positive for February. We opened our new store in Winter Garden, Florida, a suburb of Orlando, in late February. The second phase of our website, havertys.com, became operational this week and allows consumers to develop 'wish lists,' place orders on-line and set delivery dates of their purchases." Havertys is a full-service home furnishings retailer with 124 showrooms in 17 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle- to upper-middle price ranges. Additional information is available on the Company's website at www.havertys.com .