Customers spending on more expensive furniture
Customers are more willing to spend money on pricier furniture and upholstery, executives at the Atlanta furniture company Havertys said.
Upholstery is growing faster than the company's other businesses, said chief financial officer Dennis Fink in a company conference call Thursday. Special orders are also increasing.
The company has increased its advertising and is rolling out new products and an improved website, in addition to a new point-of-sale system. In a statement, Havertys president and CEO Clarence Smith said he is "cautiously optimistic" that housing turnovers, consumer credit and consumer confidence are showing some positive movement.
Same-store sales at Havertys increased 5.7 percent in the first quarter of 2012, as compared to the same period last year. The company made $2.5 million in the quarter, after losing $671,000 in the first three months of 2011.
The results, Smith said in the statement, were better than he expected.
About the Author
Arielle Kass covers Gwinnett County for The Atlanta Journal-Constitution. She started at the paper in 2010, and has covered business and local government beats around metro Atlanta. Arielle is a graduate of Emory University.
