Haverty swings to profit
Atlanta Haverty Furniture Cos. swung to a profit in the first quarter, helped by rising sales and lower operating costs. The company had net income of $2.4 million, compared with a net loss of $7.3 million in first quarter 2009.
Net sales for the first quarter grew 8.2% to $156 million.
“We continued to grow our market share for the second consecutive quarter through the strength of our brand as comparable store sales were up 10.1%,” said Clarence H. Smith, president and CEO. “We recorded our third consecutive quarter of profits with our disciplined approach to product pricing and operating costs.”
Haverty has 119 showrooms in 17 states in the South and Midwest.