Haverty Furniture Companies Q1 Earnings Call Highlights

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Haverty Furniture Companies (NYSE:HVT) reported higher first-quarter income and net arsenic comparable income remained affirmative for a 3rd consecutive quarter, portion absorption pointed to stronger mean tickets, maturation successful plan services and an expanded store pipeline for 2026.

President and CEO Steve Burdette said first-quarter nett income roseate 4.1% to $189.1 million, with comparable income up 4.3%. Total written income accrued 6.4%, portion comparable written income roseate 7%. The institution reported pretax income of $6 million, representing a 3.2% operating margin, compared with $5.3 cardinal and a 2.9% operating borderline successful the prior-year quarter. Earnings were $0.26 per share, up from $0.23 per stock a twelvemonth earlier.

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“We are excited to study different summation successful some written and delivered comp income for Q1, marking our 3rd consecutive 4th of affirmative comps,” Burdette said.

Average Ticket and Design Business Drive Sales Growth

Burdette said written income benefited successful portion from a beardown two-week play starring into Presidents’ Day weekend, erstwhile income were up 8.3%. Traffic was down successful the debased azygous digits during the quarter, contempt upwind disruptions successful January and the commencement of what Burdette referred to arsenic Operation Epic Fury successful March.

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The company’s mean summons accrued 11.9% to astir $3,700. Haverty’s plan concern accounted for 35.3% of full concern successful the 4th and roseate 6.3%, portion the plan mean summons accrued 11.7% to astir $8,300. The customized peculiar bid concern roseate 10.1% and represented 34.5% of upholstered business, which Burdette attributed to continued occurrence successful design.

Burdette said Haverty’s quality to connection much than 1,000 cloth choices crossed styles, patterns and colors gives its income and plan teams opportunities to assistance customers find desired selections. He besides said the merchandising squad has go much nimble successful assortment planning, allowing newer products to scope store floors faster.

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By category, occasional furnishings was up treble digits, upholstery and eating country roseate successful the mid-single digits, mattresses accrued successful the debased azygous digits, bedrooms were level and accessories were down slightly.

Margins Improve, Inventory Rises arsenic Planned

Executive Vice President and CFO Richard Hare said gross nett borderline improved 30 ground points to 61.5% from 61.2% successful the year-ago period. Excluding a $524,000 LIFO disbursal successful the archetypal 4th of 2026 and a $24,000 LIFO disbursal successful the prior-year quarter, adjusted gross nett borderline accrued 60 ground points to 61.8% from 61.2%.