Improvement in the housing market has had a positive impact on sales at the Atlanta furniture store chain Havertys, the company’s CEO said Thursday, and he expects sales will continue to rebound.
Along with upgrades to Havertys stores, the housing improvement has helped sales rise more than the company expected, president, chairman and CEO Clarence Smith said in a conference call.
The average amount a customer spends has risen by 6 or 7 percent, Smith said. Havertys saw a 31 percent increase in upholstery special orders over last year’s third quarter.
As higher-end furniture stores have closed, Havertys sees opportunities to appeal to more special-order customers.
Same-store sales were up 10 percent, and Havertys made $3.3 million for the quarter, after making $118,000 in the third quarter last year. For the first nine months of the year, Havertys made $8.1 million, as compared to $1.5 million in losses for the same period in 2011.
About the Author
