by Company said this is its first year-over-year increase since its 4th quarter of 2022
ATLANTA — Havertys reported its first year-over-year increase in sales since its fourth quarter of 2022 as consolidated second-quarter sales rose 1.3% to $181 million for the period ended June 30.
The company said that while comparable-store sales fell 2.3% during the same timeframe, overall consolidated sales rose to $181 million, from $178.6 million in the second quarter of last year. It also reported second-quarter income of $2.7 million, or 16 cents per share, compared with $4.4 million, or 27 cents a share, the same period last year.
Gross profit totaled $110.1 million, or 60.8% of sales, compared to $108 million, or 60.4% of sales, the same period last year.
“In the second quarter of 2025, we delivered year-over-year sales growth for the first time since the fourth quarter of 2022, while also achieving strong gross margins, positive traffic trends and improved conversion rates,” said Steven G. Burdette, president and chief executive officer. “Although we continue to navigate a challenging environment, including a soft housing market, low consumer confidence and tariff uncertainty, we are encouraged by the positive sales and operational trends we are seeing across our business. Our improved sales results reflect the effectiveness of our new marketing and promotional strategies, the dedication of our teams, and the value of the experience we’ve gained in our 140-year history.”
In addition, design business accounted for 33.4% of written business, compared with 36% in 2024, while SG&A expenses were 59.3% of sales compared with 57.7%, rising $4.2 million.
This $4.2 million increase was driven by a $3.4 million increase in administrative expenses, including increased salaries, performance-based incentive compensation and stock compensation costs.
The company also reported a $1.5 million increase in occupancy costs related to new locations and a $1.1 million increase in advertising costs driven by increased spending on television and interactive marketing. It also said that warehouse and delivery costs decreased $1.1 million because of lower salaries and related benefits costs.
For the full first half, the company reported $362.6 million in sales, unchanged from the prior six-year period in 2024. Net income totaled $6.5 million, or 39 cents per share, compared with $6.8 million, or 41 cents per share, the same period last year.
Gross profit totaled $221.2 million, or 61% of sales, compared with $219 million, or 60.4% of sales, last year. SG&A expenses were 59.2% of sales compared with 58.6% of sales last year.
Other highlights of the first half are as follows:
+ For the full six-month period, the company reported cash, cash equivalents and restricted cash equivalents of $113.8 million.
+ It reported $13.4 million in cash from operating activities, primarily from earnings and changes in working capital, including a $9.9 million increase in inventories and a $1.4 million decrease in customer deposits.
+ It invested $11.7 million in capital expenditures.
+ It purchased 94,000 shares of common stock for $2 million and paid $10.4 million in quarterly cash dividends.
+ It reported no debt outstanding as of June 30 and credit availability of $80 million.
