Haverty Furniture ( (HVT) ) has released its Q4 earnings. Here is a breakdown of the information Haverty Furniture presented to its investors.
Havertys, a full-service home furnishings retailer established in 1885, operates 130 showrooms across 17 states in the Southern and Midwestern regions, offering a wide selection of quality merchandise in middle to upper-middle price ranges. The company recently reported its fourth-quarter and full-year 2024 financial results, highlighting a challenging year with decreased sales and earnings compared to 2023. Key financial metrics showed a 12.5% decline in consolidated sales for the fourth quarter and a 16.1% decrease for the full year, with diluted earnings per share dropping significantly from $3.36 in 2023 to $1.19 in 2024. Despite these challenges, Havertys achieved its goal of opening five new stores, including a return to the Houston market after 40 years, and maintained a strong balance sheet with no outstanding debt and significant cash reserves. Looking ahead, Havertys remains focused on its growth strategies in store expansion, merchandising, and marketing, positioning itself to capitalize on future economic improvements while continuing to deliver value to shareholders through prudent capital management.