by Total written business rose 10% and same-store written business rose 8% for the quarter ended Sept. 30
ATLANTA — Havertys Furniture reported a 10.4% increase in sales and a 7.1% increase in same-store sales for its third quarter ended Sept. 30.
The Home News Now 125 Retailer said that consolidated sales totaled $194.5 million, up from $179.5 million the same period last year. Sales for the first nine months also were up, totaling $557.1 million, compared with $538.5 million, a 3.5% increase.
Total written business rose 10% and comp-store written business increased 8% for the quarter, the company noted, adding that design consultants accounted for 34.2% of written business in 2025 and 34.5% in 2024.
Net income for the quarter totaled $4.7 million, or 28 cents per share, compared with $4.9 million, or 29 cents per share, last year. For the full nine months, the company reported net income of $11.2 million, or 68 cents per share, compared with $11.8 million, or 70 cents per share, the same period last year.
For the third quarter, it also reported gross profit of $117.3 million, or 60.3% of sales, compared with $105.9 million, or 60.2% of sales, the same period last year.
The company also reported SG&A expenses of $112.3 million, compared with $100.9 million the same period last year, an increase of $11.4 million. This represented 57.8% of sales compared with 57.4% the same period last year.
Havertys said the primary drivers of the change included:
+ A $2.8 million increase in advertising and marketing costs, “driven by increased spending on television and direct mail production.”
+ A $2.7 million increase in selling expense “primarily due to sales commissions and related benefit costs for higher sales volume.”
+ A $1.4 million increase in occupancy costs “related to new stores and the timing of repairs and maintenance.”
+ And a $3.8 million increase in administrative expenses “primarily from increased salaries and related benefits, performance-based incentive compensation and stock compensation costs.”
Havertys President and CEO Steven G. Burdette said the company’s third-quarter results were bolstered by “a strong Labor Day weekend performance, double-digit growth in written and delivered sales, and our first quarter of positive written and delivered comp-store sales in several years.”
“Our strategic marketing investments continue to drive increased customer traffic, resulting in higher average tickets, solid conversion rates and strong gross margins,” he said.
“Our recent opening of a third Houston location brings our total store count to 129,” he added. “Looking ahead, we expect to resume store count growth in the first quarter of 2026, targeting five net new store openings for the year. Our third-quarter results demonstrate that our customer-first approach continues to resonate. We are encouraged by the positive momentum in our business and remain focused on delivering sustainable growth and long-term value to our customers and shareholders.”
Other highlights of the report are as follows:
+ The company reported cash, cash equivalents and restricted cash equivalents of $137 million as of Sept. 30.
+ It generated $45.3 million in cash from operating activities primarily from earnings and changes in working capital including a $9 million increase in inventories, an $8.3 million increase in accrued liabilities and vendor repayments, an $8.1 million increase in other assets and liabilities, and a $3.1 million reduction in customer deposits.
+ It invested $15.3 million in capital expenditures.
+ It purchased approximately 94,000 shares of common stock for $2 million.
+ It paid $15.5 million in quarterly cash dividends.
+ It reported no debt outstanding as of Sept. 30 and credit availability of $80 million.
