Investors interested in stocks from the Retail - Home Furnishings sector have probably already heard of Haverty Furniture (HVT) and Williams-Sonoma (WSM) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The proven Zacks ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use a variety of methods, including tried-and-true valuation metr ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___ to ___ Commission file number: 1-14445 HAVERTY FURNITURE COMPANIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdicti ...

Haverty Furniture Companies (HVT) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Company Participants Richard Hare - EVP & CFOSteven Burdette - President & CEO Conference Call Participants Anthony Lebiedzinski - Senior Equity Research AnalystCristina Fernández - Managing Director & Senior Equity Research Analyst Operator As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Richard Hare, Chief Financial Officer. Thank you, sir. You may begin. Richard Hare Thank you, ...

Haverty Furniture Companies (HVT) Q1 2025 Earnings Call May 01, 2025 10:00 AM ET Company Participants Richard Hare - EVP & CFOSteven Burdette - President & CEO Conference Call Participants Anthony Lebiedzinski - Senior Equity Research AnalystCristina Fernández - Managing Director & Senior Equity Research Analyst Operator As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Richard Hare, Chief Financial Officer. Thank you, sir. You may begin. Richard Hare Thank you, ...

With the Support of Tempur-Pedic, Havertys Furniture is Donating More than 70 Mattresses to NC-Based Non-Profit and Hosting a Military Appreciation Event on May 3 Across All Its 130 ShowroomsATLANTA, May 1, 2025 /PRNewswire/ -- Havertys Furniture is proud to announce its Military Appreciation Event, taking place on Saturday, May 3, across all 130 Havertys showrooms. This event kicks off Military Appreciation Month, and recognizes and celebrates local military families, both active and veterans, for their br ...

Financial Data and Key Metrics Changes - In Q1 2025, the company reported net sales of $181.6 million, a decrease of 1.3% compared to the prior year quarter, with comparable store sales down 4.8% [3][17] - Gross profit margin increased by 90 basis points to 61.2% from 60.3% due to product selection and merchandise mix [4][17] - SG&A expenses decreased by $2.2 million or 1.9% to $107.2 million, representing 59% of sales, down from 59.4% in the prior year quarter [18] - Net income for Q1 2025 was $3.8 million or $0.23 per diluted share, compared to $2.4 million or $0.14 per share in the comparable quarter last year [18] Business Line Data and Key Metrics Changes - The design business improved to approximately 33% of total business, with the designer average ticket growing over 9% to over $7,400 [6] - Average ticket rose by approximately 4% to just over $3,300, while written sales were down 2.6% with comps down 6.3% [3][6] Market Data and Key Metrics Changes - The housing market continues to operate at thirty-year lows, influenced by affordability issues, inflated interest rates, and declining consumer confidence [4][16] - Sales for the Presidents' Day event were disappointing, down roughly 10% over the two-week period [5] Company Strategy and Development Direction - The company plans to roll out a new point of purchase and tagging program to enhance the in-store customer experience by Labor Day [7] - The company aims to open five new stores a year but will be cautious based on current conditions, with plans for a third store in Houston and relocating an existing store [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating challenges such as housing affordability, high interest rates, and tariffs, citing a strong brand and debt-free balance sheet [16] - The company anticipates gross margins for 2025 to be between 60% and 60.5%, with fixed and discretionary SG&A expenses expected to increase due to store growth and inflation [21] Other Important Information - The company has halted most direct shipments from China due to tariffs, which could cause temporary supply disruptions [10] - Inventories increased by approximately $5 million or about 6% since year-end 2024, with expectations for further increases in Q2 [11][12] Q&A Session Summary Question: Impact of winter storms on business - Management noted that multiple winter storms impacted business, but did not quantify the exact impact [24][27] Question: Price increases due to tariffs - Management confirmed that targeted price increases will be implemented, but they expect minimal impact on consumers due to supplier support [30][31] Question: Changes in competition - Management observed aggressive promotions from competitors but did not believe it was affecting their promotional activity [33] Question: Reduction in CapEx guidance - The reduction in CapEx guidance was due to tariff uncertainty, prompting a cautious approach to store expansion [35][36] Question: Performance of new stores - Management reported positive performance from new stores, leveraging existing distribution networks, and expressed optimism for future openings [47][49]

Company Performance - Haverty Furniture (HVT) reported quarterly earnings of $0.23 per share, exceeding the Zacks Consensus Estimate of $0.14 per share, and up from $0.14 per share a year ago, representing an earnings surprise of 64.29% [1] - The company posted revenues of $181.57 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 2.18%, although this is a decrease from year-ago revenues of $184 million [2] - Over the last four quarters, Haverty Furniture has surpassed consensus EPS estimates three times and topped consensus revenue estimates two times [2] Stock Outlook - Haverty Furniture shares have declined approximately 17.4% since the beginning of the year, compared to a decline of 5.5% for the S&P 500 [3] - The current consensus EPS estimate for the coming quarter is $0.22 on revenues of $178.98 million, and for the current fiscal year, it is $1.28 on revenues of $751.92 million [7] Industry Context - The Retail - Home Furnishings industry, to which Haverty Furniture belongs, is currently ranked in the bottom 16% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Haverty's stock performance [5]

EXHIBIT 99.1 Havertys Reports Operating Results for First Quarter 2025 First quarter 2025 versus first quarter 2024: Steven G. Burdette, President and CEO said, "We are pleased to report solid first quarter results with improved gross margins, earnings, and expense control, despite facing several headwinds, including a weak housing market, atypical winter weather in the South, low consumer confidence, and significant shifts in trade policy. Throughout our 140-year history, we have consistently demonstrated ...

Store Operations and Expansion - As of December 31, 2024, Havertys operated 129 stores with approximately 4.5 million retail square feet, an increase from 124 stores and 4.387 million square feet in 2023[29]. - The company plans to open an average of five new stores per year, with the first store in Houston, TX, opened in 2024, targeting former "big box" retail sites[32]. - The company operates 129 retail stores totaling approximately 4.5 million square feet as of December 31, 2024[112]. - The number of stores increased to 129 in 2024, up from 124 in 2023[148]. Sales and Revenue - In 2024, approximately 33.6% of written sales resulted from consultations with in-home designers, with average sales tickets for designer visits being twice that of in-store sales[28]. - Total online sales for 2024 accounted for approximately 3.0% of Havertys' total business[36]. - Net sales for 2024 decreased by $139.2 million or 16.1% compared to 2023, attributed to the housing recession, inflationary pressures, and cautious consumer spending[148]. - Comparable store sales decreased by 16.7% in 2024, compared to a decrease of 18.4% in 2023[148]. - The average ticket value in 2024 was $3,371, reflecting a 3.0% increase over the previous year[148]. Financial Performance - Gross profit as a percentage of net sales remained stable at 60.7% for both 2024 and 2023, with a 100 basis point increase in gross profit margins excluding LIFO impact[150]. - Selling, general and administrative (SG&A) expenses decreased by $36.6 million or 8.0% in 2024, with SG&A as a percentage of net sales rising to 58.0% from 52.9% in 2023[155]. - The effective tax rate increased to 23.7% in 2024 from 22.5% in 2023[157]. - The company had $120.0 million in cash and cash equivalents and $6.3 million in restricted cash equivalents as of December 31, 2024[158]. - Net cash provided by operating activities in 2024 was $58.9 million, driven primarily by net income of $20.0 million and non-cash adjustments of $27.9 million[167]. Supply Chain and Sourcing - In 2024, Havertys' merchandise purchases from the largest ten suppliers accounted for approximately 41.3% of total product purchases[43]. - Approximately 20.8% of case goods sales and 5.9% of upholstery sales in 2024 were generated by direct imports[44]. - Approximately 58% of total furniture purchases in 2024 were for goods not produced domestically, exposing the company to political and economic risks associated with global sourcing[72]. - The company relies on third-party producers for nearly all products, which may lead to operational difficulties and affect timely delivery and quality[73]. - The company’s ability to forecast supply chain needs is critical, as significant deviations from projected demand may negatively impact operations and financial condition[78]. Employee and Training - As of December 31, 2024, Havertys' total workforce was 2,334, with 1,480 in retail operations and 645 in warehouse and delivery[49]. - The company invested approximately 117,000 hours in employee training and development in 2024[54]. - High employee turnover in the retail industry may lead to increased hiring and training costs, impacting operational efficiency[90]. - The company emphasizes the importance of attracting and retaining key management personnel to support strategic growth plans[92]. Risk Factors - The company faces significant competition from various retailers, including internet-only retailers and national department stores, which may impact market share and profitability[64]. - Cyber threats are evolving, and the company invests in security technology to protect against data breaches and cyber-attacks[87]. - The company faces risks from cybersecurity threats, with processes in place to manage these risks as part of its enterprise risk management[103]. - Economic downturns could adversely affect consumer spending on discretionary items, impacting sales and profitability[94]. - Rising oil and gasoline prices may negatively impact profitability due to increased transportation costs[97]. - The company is subject to risks associated with tariffs and import measures, which could lead to increased costs and affect pricing strategies[75]. Financial Reporting and Compliance - The consolidated financial statements of Haverty Furniture Companies, Inc. for the year ended December 31, 2024, present a fair view of the company's financial position compared to 2023[218]. - The audit opinion expressed an unqualified view on the financial statements, indicating no material misstatements were found during the audit[219]. - The company has maintained compliance with the PCAOB standards, ensuring the integrity of its financial reporting[221]. - No critical audit matters were identified during the audit, suggesting a stable financial reporting environment[222]. - The company’s internal control over financial reporting was evaluated, confirming its effectiveness as of December 31, 2024[219]. Capital Expenditures and Investments - Capital expenditures are expected to be approximately $27.1 million in 2025 to support operations and strategic expansion[159]. - Cash used in investing activities in 2024 consisted primarily of $32.1 million of capital expenditures, compared to $53.1 million in 2023[170][171]. - Total capital expenditures for stores in 2024 were $27.3 million, with planned outlays for 2025 projected at $22.7 million[173]. Stock and Dividends - The company has paid a cash dividend every year since 1935 and plans to continue quarterly cash dividends for the foreseeable future[128]. - The stock repurchase program has authorized an additional $25.0 million as of August 5, 2022, with approximately $8,121,000 remaining for repurchase as of December 31, 2024[129][130]. - The company repurchased 214,500 shares of Common Stock for $5.0 million during 2024, with approximately $8.1 million remaining under the existing authorization[163].