Established in 1885, Haverty Furniture Companies, Inc. does business as a specialty retailer of residential furniture and accessories in the U.S. The Atlanta, Georgia-based Company is a full-service home furnishings retailer. Haverty Furniture has more than 100 showrooms in 16 states in the Southern and Midwestern regions.
Mr. J. J. Haverty founded the Company in 1885. Haverty Furniture is one of only a few of the presently publicly traded companies that pre-date “Black Thursday”, October 24, 1929. This day was an especially panic-filled day as concerns the stock market crash of 1929. Black Monday and Black Tuesday followed the next week.
Haverty provides a broad spectrum of quality merchandise in the middle to upper-middle price ranges. It offers furnishings for Living Rooms, such as sectionals, sofas, chairs, entertainment centers, display cabinets and more. For Bedrooms it offers beds, nightstands, armoires, media chests, vanities, and more. For Dining Rooms, it offers dining tables, parsons chairs, buffets and servers, china cabinets, kitchen islands, and more.
Regarding Home Office furnishings, Haverty offers office desks and hutches, bookcases, office chairs, and file cabinets. For Media Rooms it offers entertainment centers, media chests, entertainment consoles, as well as home theater seating. The Company also offers rugs, and outdoor dining furnishings, outdoor seating, outdoor tables, outdoor accessories, fire pit chat seats and assorted outdoor furniture such as Ottomans, chaises, cocktail tables, and loveseats.
Accessories offered include wall décor, lamps, linens, decorative accents, accent pillows, mirrors, florals and trees. Additionally, Haverty Furniture Companies offers mattress product lines under the Sealy, Serta, Stearns & Foster, and Tempur-Pedic names.
In 2016, the Company made significant investments in systems and infrastructure to help provide a better experience for its customers. The purpose of the upgrades is to help serve all of its customers in every phase of the shopping cycle. This includes the processing and handling of the product through delivery. It added new advanced scanners for all of its drivers and service technicians to provide a paperless system and to expedite every stage of handling merchandise.
In early Q4, Haverty Furniture will open a store in Charlottesville, Virginia. This is a new city for the Company. This will be a branch store of Haverty’s two store Richmond, Virginia operation. The Company will also open a new Texas market – College Station. This is its sister store to Waco, Texas.
Haverty Furniture recently had the grand opening of its 110,000 square foot expansion of its Lakeland Florida Distribution Center. This means approximately 85% more storage capacity for this Florida facility. This means better shipping efficiencies as Haverty will bring in containers from Asia directly to this upgraded facility from the ports of Jacksonville and Tampa. This is more efficient, and it also contributes to cost savings than shipping containers from Savannah, Georgia, to North Georgia, and then shipping them to the Lakeland facility.
Haverty Furniture Companies will release Q3 2016 financial results on Monday, October 31, 2016, after the market closes. The Company will host a conference call with analysts and investors on Tuesday, November, 1, 2016 at 10:00 AM (ET).