by ATLANTA — Haverty Furniture Cos. Inc. this week reported a 4.1% increase in consolidated sales for the its first quarter ended March 31, which also reflected a 4.3% increase in same-store sales.
The company reported sales of $189.1 million, compared with $181.6 million the same period last year. Net income was $4.3 million, or 26 cents per share, compared with $3.8 million, or 23 cents per share, the same period last year.
The company’s gross profit was $116.2 million, or 61.5% of sales, compared with $111.1 million, or 61.2%, last year.
Steven G. Burdette, president and chief executive officer, said, “We are pleased with our first quarter results, delivering written business, delivered sales and comp-store sales growth for a third consecutive quarter. Performance was led by strong Presidents Day demand, gross profit margin expansion and higher average tickets.”
“Our design program continues to be a key growth driver and differentiator for Havertys,” he added. “Designer average tickets remain more than double our overall average ticket, and the program accounted for 35.3% of written business during the quarter, up over 200 basis points from 2025. We are excited about the program’s trajectory and see significant opportunity ahead as we continue to provide a high-quality experience for our customers.
“We also continued to execute on our store growth strategy, signing new store leases in the Dallas, Texas, Atlanta, Georgia, and Fredericksburg, Virginia, markets. With a strong balance, no funded debt and sustained momentum across key operating metrics, we remain well positioned to continue growing our store base and execute on our long-term objectives.”
Other highlights of the Q1 report were as follows:
+ Total sales were up 4.1%, while comp-store sales were up 4.3% for the quarter. Total written business increased 6.4%, and comp-store written business increased 7% for the quarter.
+ Design consultants accounted for 35.3% of written business in 2026 and 33.2% in 2025.
+ SG&A expenses were 58.9% of sales versus 59% and increased $4.1 million. The company said the primary drivers of this change are:
+ An increase in selling expense of $2.4 million primarily due to higher commissioned-based compensation and third-party credit costs.
+ An increase in administrative expenses of $0.8 million primarily from increased salaries and related benefits.
+ An increase in occupancy costs of $0.6 million related to new stores and the timing of repairs and maintenance.
+ The company also reported cash, cash equivalents and restricted cash equivalents of $114.1 million as of March 31.
+ It invested $7 million in capital expenditures.
+ It purchased approximately 91,000 shares of common stock for $2 million.
+ It paid $5.3 million in quarterly cash dividends.
+ It also reported no debt outstanding at March 31 and credit availability of $80 million.
