Haverty Furn Cl A Sc ( ($HVT.A) ) has released its Q4 earnings. Here is a breakdown of the information Haverty Furn Cl A Sc presented to its investors.
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Haverty Furniture Companies, Inc., a long-established home furnishings retailer, operates 130 showrooms across 17 states in the Southern and Midwestern regions, offering a wide range of quality merchandise in the middle to upper-middle price ranges.
In its latest earnings report, Havertys announced a decline in its financial performance for the fourth quarter of 2024 compared to the previous year. The company reported a decrease in diluted earnings per share from $0.90 to $0.49 and a 12.5% drop in consolidated sales to $184.4 million. Comparable store sales also fell by 13.7%.
Key financial metrics for the full year 2024 showed a similar downward trend, with diluted earnings per share dropping from $3.36 to $1.19 and consolidated sales decreasing by 16.1% to $722.9 million. Despite these challenges, Havertys maintained its gross profit margin at 60.7% and returned $25.5 million to shareholders through dividends and share repurchases. The company also expanded its retail footprint by opening five new stores, including a return to the Houston, TX market.
Looking ahead, Havertys remains committed to its growth strategies, focusing on store expansion, merchandising, and marketing. The company’s strong balance sheet and financial stability are expected to support continued investment in growth opportunities, positioning Havertys to capitalize on improvements in the economic cycle.