Havertys says business remains challenging

Atlanta furniture chain Havertys is continuing to update its showrooms and consider expansion, even as the business faces difficulties.

The company's middle to upper-middle class target customer is likely to continue spending cautiously, Havertys president and CEO Clarence Smith said in a statement. He said he expects that to be the case until the housing market improves and the economy shows signs of stability.

"The retail home furniture business remains challenging," he said.

The company's net sales decreased 1.1 percent in the third quarter of the year, and same-store sales decreased .6 percent. Bedding sales grew, but the company did not say how much.

Havertys made $118,000 for the quarter, compared to $1.2 million for the same quarter last year.

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