by Business bolstered by increase in designer business, comp-store sales
ATLANTA — Havertys reported an increase in sales for the second quarter and first half, highlighting its success across multiple fronts, ranging from new stores to increased designer business.
For the second quarter ended June 30, the company reported $194.9 million in sales, up 7.7% from $181 million the same period a year earlier.
The company said comp-store sales were up 8% for the quarter. It also noted that total written business increased 12.6% and comp-store written business increased 12.3% for the quarter. Design consultants accounted for 36.5% of written business in 2026 and 33.4% in 2025.
Net income was $5.3 million, or 32 cents per share, compared with $2.7 million, or 16 cents per share, last year.
Gross profit was $119.7 million, or 61.4% of sales, compared with $110.1 million, or 60.8% of sales, last year, while SG&A expenses were $113.2 million, or 58% of sales, compared with $107.3 million, or 59.3% of sales, last year.
For the full first half, sales totaled $384 million, up 5.9% from $362.6 million the same period last year. Net income was $9.6 million, or 58 cents per share, compared with $6.5 million, or 39 cents per share, last year.
Gross profit for the first half was $235.9 million, or 61,4% of sales, compared with $221.2 million, or 61% of sales, the same period last year. SG&A expenses during the same period were $224.4 million, or 58.4% of sales, compared with $214.5 million, or 59.2% of sales, a year earlier.
Havertys President and CEO Steven G. Burdette said that the second-quarter results reflected the sustained momentum of the business, as well as its fourth consecutive quarter of written, delivered and comp-store sales growth.
“We posted a strong Memorial Day weekend performance, with average tickets up double-digits,” he added. “Gross margins expanded to 61.4%, which included the benefit of approximately $1.5 million in IEEPA tariff refunds.”
He also noted that the company opened two stores during the period, including Fenton, Missouri, and Mount Juliet, Tennessee. In addition, it plans to open five more stores and complete one relocation, increasing the total store count to 133 at year end.
“Our upcoming entry into Pittsburgh, Pennsylvania, will extend our footprint to 18 states, consistent with our long-term growth strategy,” he added, while also noting, “This quarter’s results underscore our commitment to an exceptional customer experience and disciplined execution across the business. Our strong balance sheet and gross margins, strengthening design business, average-ticket growth, and investments in new markets give us confidence entering the second half of the year.”
Other highlights of the report were as follows:
+ The company reported cash, cash equivalents and restricted cash equivalents of $111 million as of June 30.
+ It invested $13.1 million in capital expenditures.
+ It purchased approximately 723,000 shares of common stock for $16.6 million.
+ In June, the company repurchased 600,000 shares of its common stock for approximately $13.9 million in a privately negotiated transaction.
+ It paid $10.6 million in quarterly cash dividends
+ It also reported no debt outstanding as of June 30 and credit availability of $100 million.
+ Effective June 29, the company’s revolving credit facility was amended to increase the borrowing capacity from $80 million to $100 million.
