Haverty Furniture(HVT)

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Haverty Furniture(HVT) - 2020 Q3 - Quarterly Report
2020-11-04 22:04
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 September 30, 2020 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) Maryland 58-0281900 (S ...
Haverty Furniture(HVT) - 2020 Q3 - Earnings Call Transcript
2020-11-01 15:06
Financial Data and Key Metrics Changes - Delivered comparable store sales increased by 4% with written comparable sales up 22.6%, marking the largest increase in at least 50 years [4] - Record quarterly net profit of $18.3 million, with earnings per share of $0.97 compared to $6.1 million and $0.31 per share last year [5][16] - Gross profit margin improved by 270 basis points from 53.5% to 56.2% due to better merchandising mix and fewer markdowns [13][5] - Selling, general, and administrative expenses decreased by $4.1 million or 3.9% to $100.1 million, falling to 46% of sales from 49.8% [14] Business Line Data and Key Metrics Changes - Internet sales represented 3.9% of total sales, up over 80% [6] - Buy Online Pickup in Store increased to 15%, tripling over the past three years [6] - The company experienced a "triple double" in several periods, indicating double-digit increases in traffic, closing rate, and average ticket [7] Market Data and Key Metrics Changes - Strong performance noted in larger markets, contributing to balanced growth across regions [7] - Customer deposits reached $88.4 million, up $58.3 million from the year-end balance, indicating strong demand [17] Company Strategy and Development Direction - The company aims to maintain high single-digit pretax operating income in upcoming quarters [6] - Investments are being made to improve website efficiency and increase digital marketing efforts [6] - The company is focused on adapting to industry changes and believes it is well-positioned compared to competitors [9] Management's Comments on Operating Environment and Future Outlook - Management noted the importance of convenience for customers during the pandemic and is committed to holding costs in most SG&A categories [5][6] - The backlog of orders is expected to carry into 2021, with significant product on the way [33] - Management is optimistic about maintaining gross margins and is focused on special orders and custom products [38] Other Important Information - Capital expenditures for 2020 have been increased to $11.4 million, focusing on repairs, maintenance, and IT upgrades [22] - The company opened one new location in the Dallas-Fort Worth area during Q3 2020 [23] Q&A Session Summary Question: Insights on trends through the quarter and 4Q outlook - Management indicated that written sales for Q4 are expected to be in a similar range as Q3, with ongoing investments in distribution capacity [29] Question: Customer deposit levels and delivery timelines - Management expects the backlog to extend into 2021, with a significant amount of product on the way, but aims to fulfill important deliveries before the holidays [33] Question: Considerations for 2021 models regarding gross margins and SG&A costs - Management acknowledged the need to assess gross profit margins in a non-promotional environment and indicated that SG&A costs may see slight increases as personnel is added back [35][36]
Haverty Furniture(HVT) - 2020 Q2 - Earnings Call Transcript
2020-08-11 18:48
Haverty Furniture Companies, Inc. (NYSE:HVT) Q2 2020 Earnings Conference Call August 11, 2020 10:00 AM ET Company Participants Richard Hare – Investor Relations Clarence Smith – President, Chief Executive Officer and Chairman Richard Hare – Chief Financial Officer Conference Call Participants Andrew Efimoff – KeyBanc Capital Markets Anthony Lebiedzinski – Sidoti & Company Operator Good day, and welcome to the Haverty's Second Quarter 2020 Financial Results Conference Call. Today's conference is being record ...
Haverty Furniture(HVT) - 2020 Q2 - Quarterly Report
2020-08-10 20:46
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 graphic HAVERTY FURNITURE COMPANIES, INC. (Exact name of registrant as specified in its charter) 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 Maryland 58-0281900 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 June 30, 2020 ...
Haverty Furniture(HVT) - 2020 Q1 - Quarterly Report
2020-05-21 21:03
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, 2020 OR ◻ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period fromto Commission file number: 1-14445 HAVERTY FURNITURE COMPANIES, INC. (Exact name of registrant as specified in its charter) Indicate by check mark whether the ...
Haverty Furniture(HVT) - 2020 Q1 - Earnings Call Transcript
2020-05-21 17:27
Haverty Furniture Companies, Inc. (NYSE:HVT) Q1 2020 Earnings Conference Call May 21, 2020 10:00 AM ET Company Participants Richard Hare - Executive Vice President and Chief Financial Officer Clarence Smith - President, CEO and Chairman Conference Call Participants Anthony Lebiedzinski - Sidoti and Company Operator Good day, and welcome to Haverty's First Quarter 2020 Financial Results Conference Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Richard Ha ...
Haverty Furniture(HVT) - 2019 Q4 - Annual Report
2020-03-05 20:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | Common Stock | HVT | NYSE | | Class A Common Stock | HVTA | NYSE | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR TRANSITION REPORT PURSUANT TO SECT ...
Haverty Furniture(HVT) - 2019 Q4 - Earnings Call Transcript
2020-02-19 16:36
Haverty Furniture Companies, Inc. (NYSE:HVT) Q4 2019 Earnings Conference Call February 19, 2020 10:00 AM ET Company Participants Richard Hare - Executive Vice President, Chief Financial Officer Clarence Smith - Chairman, President, Chief Executive Officer Conference Call Participants Anthony Lebiedzinski - Sidoti Andrew Efimoff - KeyBanc Capital Markets Operator Good day and welcome to Haverty's fourth quarter and full year 2019 financial results conference call. Today's conference is being recorded. At thi ...
Haverty Furniture(HVT) - 2019 Q3 - Earnings Call Transcript
2019-11-04 07:31
Haverty Furniture Companies, Inc. (NYSE:HVT) Q3 2019 Earnings Conference Call October 31, 2019 10:00 AM ET Corporate Participants Rich Hare - Chief Financial Officer Clarence Smith - Chairman, President and Chief Executive Officer Conference Call Participants Alessandra Jimenez - Raymond James Brad Thomas - KeyBanc Capital Markets Anthony Lebiedzinski - Sidoti Operator Good day and welcome to Haverty's Third Quarter 2019 Financial Results Conference Call. Today's conference is being recorded. At this time, ...
Haverty Furniture(HVT) - 2019 Q3 - Quarterly Report
2019-11-01 19:07
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Commission file number: 1-14445 HAVERTY FURNITURE COMPANIES, INC. (Exact name of registrant as specified in its charter) Maryland 58-0281900 (State of incorporation) (I.R.S. Employer Identification No.) 780 Johnson Ferry Road, Suite 800 Atlanta, Georgia 30342 (Address of principal executive office) (Zip Code) (404) 443-2900 (Registrant's telephone number, including area code) Securities registered pursuant to Sectio ...