Havertys reports Q3 EPS 29c, consensus 47c

Reports Q3 revenue $175.9M, consensus $194.65M. Comparable-store sales decreased 20.5%. Gross profit margin was 60.2% compared to 60.8%. Clarence H. Smith, Chairman and CEO said, “Our earnings for the quarter reflect the impact of below plan sales including the Labor Day holiday written results which mirrored the quarterly sales declines. We did begin to see improvement in traffic during the quarter and average ticket rose slightly.”