Q4 2024 Haverty Furniture Companies Inc Earnings Call Transcript

Feb 25, 2025 / 03:00 PM GMT

Release Date Price: €19.7

Transcript 10-K8-K

Key Points

Positve

Haverty Furniture Companies Inc (HVT) maintained strong gross margins of 61.9% for the quarter and 60.7% for the year.
The company ended the year with zero funded debt and over $120 million in cash.
Traffic improved over the quarter, marking the first positive gain year over year in traffic in the low single digits.
The design business continued to improve, accounting for approximately 32% of the business, with the designer average ticket growing over 8%.
Haverty Furniture Companies Inc (HVT) successfully opened new stores in St. Petersburg, Florida, Greenwood, Indiana, and Houston, meeting expectations.

Negative

Fourth quarter sales were down 12.5%, with comparable store sales down 13.7%.
Total sales for the year decreased by 16.1%, with comparable store sales down 16.7%.
Net income for the fourth quarter of 2024 was $8.2 million, a decrease from $15 million in the comparable quarter last year.
The company is facing tariff issues with China, Canada, and Mexico, which could impact pricing and product flow.
Selling, general, and administrative expenses as a percentage of sales increased to 57.4% from 54.4% in the prior year quarter.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

HVT.N - Haverty Furniture Companies Inc
Q4 2024 Haverty Furniture Companies Inc Earnings Call
Feb 25, 2025 / 03:00PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to Hafrty's 4th quarter 2024 earnings call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press 0 on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Richard Hare, Chief Financial Officer.

Thank you, sir. You may begin.

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Unidentified_2 [2]
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Thank you, operator. During this

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