HVT

Image source: The Motley Fool. Tuesday, Aug. 4, 2026 at 4:00 p.m. ET Assistant Vice President of Financial Reporting and Investor Relations - Tiffany Hinkle President and Chief Executive Officer - Steven Burdette Executive Vice President and Chief Financial Officer - Richard Hare Operator: Greetings, and welcome to the Havertys Second Quarter 2026 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Tiffany Hinkle, Assistant Vice President of Financial Reporting and Investor Relations. Thank you. You may begin. Tiffany Hinkle: Thank you, operator. Good morning, and thank you for joining us for our second quarter earnings call. I'm here today with our President and CEO, Steve Burdette; and Executive Vice President and CFO, Richard Hare. Before we begin, I'd like to remind everyone that today's conference call may contain forward-looking statements, which are subject to risks and uncertainties. Actual results may differ materially from those made or implied in such statements, which speak only as of the date they are made and which we undertake no obligation to publicly update or revise. Factors that could cause actual results to differ include economic and competitive conditions and other uncertainties detailed in the company's reports filed with the SEC. A replay of this call will be available on our Investor Relations website this afternoon. For commentary about our business, I will now turn the call over to Steve. Steven Burdette: Thank you, Tiffany. Good morning, and thank you for joining our 2026 second quarter conference call. Q2 was a strong quarter, and I want to lead with the headline. We doubled earnings per share and delivered our fourth consecutive quarter of positive written and delivered comp sales. Net sales for Q2 were $194.9 million, up 7.7%, with comps up 8%. Total written sales were up 12.6%, with comps up 12.3%. Gross margin expanded 60 basis points to 61.4% from 60.8% last year. Pretax income was $7.4 million, or 3.8% of sales, compared with $4.3 million, or 2.4% of sales, a year ago, and earnings per share came in at $0.32 versus $0.16 a year ago. Richard will cover the impact of our recent stock buybacks, LIFO, tariff refunds and expectations for future tariff refunds in his discussion. Written sales grew double digits every month of the quarter. Our Memorial Day promotion was up 9.7% for the 4-day period and up 14.1% for the 2-week period. Traffic increased slightly, and closing percentages held steady during the quarter. But the standout was average ticket, which rose 14% to over $3,800, led by design average ticket, which was up 15.7% to over $8,800. Design accounted for 36.5% of our business as it continues to drive our custom special order business, which rose 23.6%. Customers love being able to choose exactly the right fabric or leather in their preferred color from our vast assortment. Every merchandise category was positive for the quarter, with double-digit increases in upholstery, bedroom, dining and occasional, and mid-single-digit growth in mattresses and decor. Our merchandising and supply chain teams continue to execute our merchandise plan, keeping assortments nimble and best sellers in stock to meet customer demand. In May, I traveled with our merchandising team to our Vietnam factories to further strengthen our partnerships with our key suppliers. While in Vietnam, I had the opportunity to meet our newly expanded Havertys Vietnam quality team in person. The team plays an essential role in Havertys' success, and I came away more energized about our capabilities and our opportunities. We reduced inventories from $106.9 million at the end of Q1 to $100.5 million at the end of Q2. That result shows what supply chain, distribution, merchandising and store operations can accomplish working as one team, driving sales while improving inventory turns. We expect to end Q3 in the $95 million range, with a 5% swing either way, depending on product flow and sales. This will position us to meet our customers' delivery expectations and achieve our sales goals. On the tariff front, the new Section 301 tariffs that replaced the Section 122 tariffs on July 24 came in at 10% and 12.5%, giving us more confidence heading into the balance of the year. As expected, the Section 232 tariffs on upholstered wood furniture remained at 25%. We are actively managing 3 cost pressures related to fuel increases that will impact our margins and expenses throughout the remainder of the year. One, beginning in mid-August, we will see roughly a 25% to 30% increase in our container rates due to the increased bunker fuel rates. Two, if diesel fuel remains above $5 a gallon due to continued geopolitical pressures, we will continue to see increases in our transportation and delivery fuel expenses through year-end. And three, the additional impact that the fuel increases will have on our product input costs for the remainder of the year. We expect the tariff refunds already received, along with the potential future refunds from third-party suppliers, to help us offset some of these cost pressures. This will give us flexibility to be more selective with any retail price adjustments as we remain committed to our full year gross margin guidance of 60.5% to 61%, excluding any additional tariff refunds. Our marketing, creative and media plans remain consistent as we continue to use connected TV, broadcast TV, social media and other digital channels. We continue to utilize direct mail to showcase for our customers what our designers can do to bring their homes to life, focusing on winning new customers. A new customer spends 50% more than a repeat customer, so that shift carries real value. Our second annual Thank You loyalty e-mail campaign, which ended in early June, rewarded our repeat customers for their patronage of our brand. Appealing to both sets of customers, new and repeat, is vital to our overall growth. Organic traffic to the site continues to improve as we strengthen our organic visibility in both SEO and GEO, and that helped drive written e-commerce sales up double digits for the quarter. Our marketing dollars were slightly down for the quarter as we continue to leverage these expenses. Our use of 60-months-no-interest financing was consistent with last year, though the cost of these programs continues to tick up. We will stay aggressive with our credit offerings during the promotional periods so that we meet our customers' financing demands and stay competitive in each of our markets. We are encouraged by the momentum of AI across the business. During the quarter, we expanded our use of AI beyond marketing, supply chain and IT development into additional customer-facing and operational areas, including home delivery, customer chat and sales, and designer communications with customers. We believe these capabilities will become another point of differentiation by improving both how we execute and how we serve our customers. We ended the quarter with 129 stores. During the quarter, we opened 2 new locations, one in St. Louis, Missouri, and one in Nashville, Tennessee, and both are running ahead of budgeted traffic and volume expectations. We plan to open 6 new stores in the second half of the year, with one being a relocation. Fredericksburg, Virginia, will open late in Q3. Pittsburgh, Pennsylvania, will open in early Q4 and will mark our entry into our 18th state. Snellville, Georgia, a suburb of Atlanta, will relocate in mid-Q4. McKinney, Texas, a suburb of Dallas, opens in mid-Q4. And then Baytown and Richmond, Texas, both suburbs of Houston, open in late Q4. We finalized the closing of our San Angelo, Texas, store on June 30, and plan to close College Station, Texas, on August 31. We will continue to evaluate our existing leases and locations so that we are reinvesting our capital to create the biggest return for our shareholders. We expect the year to end with 133 stores. We continue the refresh of our mattress departments and design centers, which showcases two of the biggest opportunities for growth in our stores. We will have just over half the stores complete by year-end, with the remainder to be finished in 2027. We are optimistic about the remainder of 2026, and here's why. Our customers remain resilient at the upper end of the market. We are opening six new stores in the second half of 2026. We have had 4 consecutive quarters of positive written and delivered comp sales. Our marketing plans are reaching our customers with a message of design and confidence in our brand. Our design business continues to grow, with meaningful upside still ahead in average ticket and customer engagement. Our merchandising team is committed to introducing new products faster, creating excitement for both our teams and our customers. Our supply chain network, in combination with our fantastic suppliers, allows us to deliver quality products on time. Our investment in training and coaching our teams, paired with AI, is driving productivity. Our inventories are in excellent shape with low markdowns. Our distribution, home delivery and customer service, which are all Haverty team members, provide our customers with consistent professional service. And then finally, we are heading into our biggest holiday of the year, Labor Day, with momentum. I want to thank our roughly 2,400 team members across 17 states for the hard work, dedication and passion they bring to serving our customers' home furnishing needs. Our people remain one of the most important assets and a true differentiator against our competition. That expectation was set decades ago by Clarence Haverty, who created our motto that we live by today. Remember, our reputation is in your hands. At the point of contact with the customer, you are Havertys. I will now turn the call over to Richard. Richard Hare: Thanks, Steve, and good morning. In the second quarter of 2026, net sales were $194.9 million, a 7.7% increase over the prior year quarter. Comparable store sales were up 8% over the prior year period. Our gross profit margin increased 60 basis points to 61.4% from 60.8%. Excluding the impact of approximately $1.5 million in IEEPA tariff refunds recognized in cost of sales in the quarter, our gross profit margin was 60.7% in the second quarter of 2026 compared to 60.8% in the prior year quarter. Further, excluding the impact of LIFO, a $496,000 expense in the second quarter of 2026 and a $100,000 expense in the prior year quarter, our adjusted gross profit margin was 60.9% in both periods. Selling, general and administrative expenses increased $5.8 million, or 5.4%, to $113.2 million. As a percentage of sales, these costs approximated 58%, down from 59.3% in the prior year's quarter. We experienced an increase in selling expense primarily due to higher commission-based compensation and third-party credit costs, an increase in administrative expenses, primarily from higher salaries, performance-based incentive comp and related benefits, and also an increase in delivery and transportation costs. Other income expense in the second quarter was $74,000 and interest income was approximately $923,000 during the second quarter of 2026. Income before income taxes increased $3.1 million to $7.4 million. Our tax expense was $2.1 million for the second quarter of 2026, which resulted in an effective tax rate of 28.5% versus 37.8% in the prior year period. The primary difference in the effective tax rate and the statutory rate is due to state income taxes and the impact of vesting of stock awards. Net income for the second quarter of 2026 was $5.3 million, or $0.32 per diluted share on our common stock, compared to net income of $2.7 million, or $0.16 per share, in the comparable quarter last year. During the second quarter, we received $2.1 million in IEEPA tariff refunds related to our direct import program. Approximately $1.5 million was recorded as a reduction to cost of goods sold, $140,000 was recorded as a reduction in inventory, $67,000 was recorded as interest income, and the remainder was rebated to certain supplier partners. Excluding the impact of the IEEPA tariffs on our income statement, our net income for the quarter was $4.2 million or $0.25 per diluted share. Now turning to our balance sheet. At the end of the second quarter, our inventories were $100.5 million, which was up $4.3 million from year-end and up $7.2 million versus Q2 of 2025. At the end of the second quarter, our customer deposits were $43.3 million, which was up $7.8 million from year-end and up $4 million from the Q2 2025 balance. We ended the quarter with $104.3 million of cash and cash equivalents. We have no funded debt on our balance sheet at the end of the second quarter, and we have credit availability of $100 million following the June amendment of our revolving credit facility, which increased our borrowing capacity from $80 million to $100 million. Looking at some of our cash flow usage, CapEx was $13.1 million during the first 6 months of 2026, and we paid out $10.6 million of regular dividends year-to-date. We purchased approximately 723,000 shares of common stock for $16.6 million year-to-date, including 600,000 shares repurchased in June for approximately $13.9 million in a privately negotiated transaction, and we have approximately $1.8 million of remaining authorization under our buyback program. Our earnings release lists out several additional forward-looking statements indicating our future expectations of certain financial metrics. I'll highlight a few, but please refer to our press release for additional commentary. Our 2026 guidance includes tariffs currently in effect as of August 4, 2026, but excludes future IEEPA tariff refunds that may be received for our indirectly sourced products. We are closely monitoring the tariff developments to manage our exposure and minimize the impact on our business. We expect our gross margins for 2026 to remain between 60.5% and 60.1% (sic) [ 61% ]. We anticipate gross profit margins will be impacted by our current estimates of product, freight and LIFO expenses. Our fixed and discretionary type SG&A expenses for 2026 remain in the $307 million to $309 million range. The variable type costs within SG&A for 2026 are expected to be in the range of 18.7% to 18.9%. Our planned CapEx for 2026 are approximately $34 million; anticipated new or replacement stores, remodels and expansions account for $27.7 million. Investments in our distribution network are expected to be $3.2 million and investments in our information technology are expected to be approximately $3.1 million. Our anticipated effective tax rate for 2026 is expected to be 26%. This projection excludes the impact from vesting of stock awards and any potential new tax legislation. This completes my commentary on the second quarter financial results. Operator, we would like to open the call up for any questions at this time. Operator: [Operator Instructions] Our first question comes from Anthony Lebiedzinski with Sidoti & Co. Anthony Lebiedzinski: It's really nice to see the solid results for top line and bottom line as well. So just curious, I know you touched on the written same-store sales, said that you had double-digit increases in every month of the quarter. Just wondering if you could also talk about the delivered same-store sales, how those progressed during the course of the quarter? Richard Hare: Yes. Anthony, I'll take a stab at it and then Steve can supplement. So just on the written business, April was -- this is for the whole company, 10.6% increase. May was 15.7% and June was 10.2%. So as Steve said earlier, double digits every month was terrific. Delivered business, a lot of momentum picking up during the quarter. We were up approximately 4% in April, approximately 8% in May, and approximately 11% in June. Anthony Lebiedzinski: Got you. Just wondering if you saw any notable regional differences in your operating area? Or was it more or less kind of consistent? Steven Burdette: Anthony, this is Steven. Yes, it's pretty much across the board. I mean, every district was up. It was great to see. We continue to have strength out of the Midwest, which continues to do well. Our Eastern district has done well. Florida and Texas have more difficult comparisons, but they were all positive. Every district was positive. So it was a very encouraging quarter. Anthony Lebiedzinski: Got you. Okay. Based on your average ticket comments, it sounds like, obviously, this is driven more by pricing. And as far as your confidence level as far as the average ticket going forward here, how would you characterize that as far as your ability to continue to improve that average ticket? Steven Burdette: Yes. Anthony, the real exciting thing is, yes, it is driven somewhat by pricing, but we're getting more units per ticket, and that's overall as a company and as in the design tickets. And so we're in that mid-single-digit range of increasing units per ticket. And that, in combination with our pricing, is driving that increase in average ticket. And I feel good about it. I see solid gains that we can continue to have there. And I think we have huge opportunity still with design as we're still only attracting about high teens percentage of our customers that are using design. We think that number, as I've always said, it can be somewhere in that 25-plus percent range. So we still have a potential upside there going forward. Anthony Lebiedzinski: Got you. All right. And then just last question for me. In terms of the increased guidance for variable SG&A, you pointed to higher selling expenses. Can you be a little bit more specific as to what you're seeing in terms of cost pressures? Richard Hare: Yes. As Steve mentioned it earlier, it's primarily third-party credit costs. So we're -- the usage, we're monitoring, but it's just a little bit more expensive this year than it was last year in terms of the rates we're being charged. Operator: Our next question comes from Cristina Fernandez with Telsey Advisory Group. Cristina Fernandez: Congratulations on a good quarter. I had a couple of questions. The first one is, can you talk about the traffic trends you saw during the second quarter? I assume there was some improvement from the first quarter that was hurt by weather. And broadly, what are you -- I mean, are you seeing the consumer sort of go back more to furniture stores in the past couple of months? Steven Burdette: Yes. As I commented in the notes there that, yes, traffic did turn back positive. It was negative in the first quarter. We did say there were other reasons for that. As you pointed out, the weather and then the breakout of the war, Epic Fury at the end of February and early March. But we did see a nice bounce back in traffic, and it was pretty consistent throughout the quarter and came in slightly positive. So we're encouraged by that. Cristina Fernandez: And you talked about the affluent consumer, which is most of your consumer doing well. When you look at the range of price points that you sell, are there any noticeable trends, meaning, are higher price points selling better or the improvement you're seeing broad-based? Steven Burdette: We're not really seeing anybody shy away from it. I mean we carry the price points. The higher-end price, points design is doing extremely well with the special orders and the higher-end products. So the higher end of our line is continuing to do well. We've got a mix of good, better, best, and they all serve a need and meet our customers' demand. So we're seeing it across the board. There's just a constant lift there. Cristina Fernandez: And then I had a question on the tariff refunds. Should we assume that the bulk of the refunds is what you already received, those were the, I guess, first party or the ones based on your direct sourcing? Or it was still to come from the third parties, a similar amount or perhaps bigger? Richard Hare: Cristina, so the tariffs we received so far that we talked about were -- you're correct. Those were the directly sourced tariffs. And I think that concludes all the -- we don't expect any more directly sourced tariffs. On the indirectly sourced, those involve multiple parties. Negotiations are in progress right now to determine what amount we'll get. It could be 2 or 3 more parties involved with this. Some of our vendors incurred legal fees. So that could impact the amount. It is ongoing. Big picture, I don't expect it to result in a materially different amount from the direct, plus or minus $1 million to $1.5 million. So we'll just have to wait and see, and we will record that once we receive it. And we hope to get something in this calendar year for the indirects. Cristina Fernandez: Okay. And then the last question I had was on the fixed SG&A through the first half, those are running up around 2%. Your guidance is for those -- that line item to increase sort of 3.5%. I assume that's mostly tied to the store openings. So is that back half weighted that increase or fourth quarter weighted? Or should we see a step-up in both the third and fourth quarters? Richard Hare: Yes. There is a step-up in the third and fourth quarters. Some of that is rent and occupancy cost. That's primarily the big area there in terms of the non-variable G&A cost. And that guidance remains -- our guidance remained -- didn't change on that. The same guidance we gave out in the first quarter. Yes, it steps up in the back half. Operator: We reached the end of our question-and-answer session. I would now like to turn the floor back over to Tiffany Hinkle for closing comments. Tiffany Hinkle: Thank you for your participation in today's call. We look forward to talking with you in the future when we release our third quarter results. Have a great day, everyone. Operator: This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation. 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This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Haverty Furniture (HVT) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Interested in Haverty Furniture Companies, Inc.? Here are five stocks we like better. Strong second-quarter performance: Net sales rose 7.7% year over year to $194.9 million, comparable-store sales increased 8%, and net income nearly doubled to $5.3 million. Written sales grew 12.6%, marking the fourth consecutive quarter of positive comparable written and delivered sales. Higher-ticket and Design sales drove growth: The average ticket increased 14% to more than $3,800, while the Design ticket rose 15.7% to over $8,800. Design represented 36.5% of sales, and management sees potential to expand customer participation beyond the current high-teens percentage. Healthy balance sheet supports expansion: Haverty ended the quarter with $104.3 million in cash, no funded debt and $100 million in credit availability. It plans six additional store openings in the second half of 2026, targeting 133 stores by year-end, while maintaining full-year gross-margin guidance of 60.5% to 61% excluding further tariff refunds. Bassett Furniture: Buy Now, Sit Back, and Collect Dividends Haverty Furniture Companies (NYSE:HVT) reported higher second-quarter sales and earnings, citing double-digit written sales growth, improving delivered sales trends and continued momentum in its Design business. Net sales increased 7.7% year over year to $194.9 million, while comparable-store sales rose 8%. Written sales climbed 12.6%, including a 12.3% comparable-sales increase. President and CEO Steve Burdette said the company recorded its fourth consecutive quarter of positive written and delivered comparable sales. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control 3 High-Yield Bargains to Watch in 2025’s Second Half Net income totaled $5.3 million, or $0.32 per diluted share, compared with $2.7 million, or $0.16 per share, a year earlier. Income before taxes increased to $7.4 million from $4.3 million. Burdette said written sales increased by double digits in each month of the quarter. During the company’s Memorial Day promotion, sales rose 9.7% during the four-day event and 14.1% during the two-week promotional period. → 3 Drone Stocks That Should Soar After the Summer Slump Analysts' Top 3 Retail Picks Gearing Up for a Strong 2025 Traffic increased slightly and closing rates remained steady, while the average ticket increased 14% to more than $3,800. The Design average ticket rose 15.7% to more than $8,800. Design represented 36.5% of sales during the quarter, and custom special-order business rose 23.6%. Management said all merchandise categories posted gains. Upholstery, bedroom, dining and occasional furniture recorded double-digit increases, while mattresses and décor posted mid-single-digit growth. → Why Rare Earth Processing Could Be the Real 2027 Opportunity During the question-and-answer session, CFO Richard Hare said delivered sales gained momentum during the quarter, rising approximately 4% in April, 8% in May and 11% in June. Burdette said every company district delivered positive results, with continued strength in the Midwest and East. Florida and Texas faced more difficult comparisons but were also positive. Burdette said average-ticket growth reflected both pricing and more units per transaction, with units per ticket increasing in the mid-single-digit range. He also said the company sees further opportunity to expand the Design business, noting that Design currently reaches only a high-teens percentage of customers and that management believes participation could exceed 25%. Gross margin expanded 60 basis points to 61.4% from 60.8% a year earlier. However, the company recognized approximately $1.5 million of IEEPA tariff refunds as a reduction in cost of sales. Excluding that benefit, gross margin was 60.7%. Hare said the company received $2.1 million in IEEPA tariff refunds associated with its direct import program during the quarter. In addition to the cost-of-sales benefit, $140,000 was recorded as a reduction to inventory, $67,000 was recorded as interest income, and the remaining amount was rebated to certain supplier partners. Excluding the income-statement impact of those refunds, net income was $4.2 million, or $0.25 per diluted share. The company expects no further refunds tied to directly sourced products. Hare said discussions remain underway regarding refunds for indirectly sourced products involving third-party suppliers. He said the ultimate amount could be roughly comparable to the direct-source refunds, plus or minus $1 million to $1.5 million, although supplier legal costs and other factors could affect the amount received. Haverty expects it may receive an indirect refund during the current calendar year. Burdette said new Section 301 tariffs that replaced Section 122 tariffs on July 24 were set at 10% and 12.5%, while Section 232 tariffs on upholstered wood furniture remained at 25%. The company is also managing expected increases in container costs, diesel-related transportation and delivery expenses, and product input costs tied to fuel prices. Haverty maintained its full-year gross-margin outlook of 60.5% to 61%, excluding any additional tariff refunds. Hare said fixed and discretionary SG&A expense guidance remains $307 million to $309 million, while variable SG&A costs are expected to range from 18.7% to 18.9% of sales. He attributed higher selling expenses in part to increased third-party credit costs. Inventory declined to $100.5 million at the end of the second quarter from $106.9 million at the end of the first quarter. Management expects third-quarter inventory to end near $95 million, with a potential 5% variance depending on sales and product flow. Haverty ended the quarter with $104.3 million in cash and cash equivalents, no funded debt and $100 million in credit availability after amending its revolving credit facility in June. Customer deposits were $43.3 million, up $7.8 million from year-end. Capital expenditures totaled $13.1 million in the first six months of 2026. The company paid $10.6 million in regular dividends year to date and repurchased approximately 723,000 shares for $16.6 million, including 600,000 shares repurchased in June for about $13.9 million through a privately negotiated transaction. About $1.8 million remained under the repurchase authorization. Haverty opened stores in St. Louis and Nashville during the quarter, and Burdette said both locations were ahead of budgeted traffic and volume expectations. The company plans six store openings in the second half, including one relocation, and expects to end 2026 with 133 stores. Planned openings include Fredericksburg, Virginia; Pittsburgh; McKinney, Texas; Baytown, Texas; and Richmond, Texas, as well as a relocation in Snellville, Georgia. The company closed its San Angelo, Texas, store on June 30 and plans to close its College Station, Texas, location on Aug. 31. Haverty also expects to have just over half of its stores refreshed with updated mattress departments and Design centers by year-end, with remaining work scheduled for 2027. For 2026, Haverty expects approximately $34 million in capital expenditures, including $27.7 million for new or replacement stores, remodels and expansions, $3.2 million for distribution-network investments and about $3.1 million for information technology. Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs. Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Haverty Furniture Companies Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Earnings per share doubled year-over-year, supported by the fourth consecutive quarter of positive written and delivered comparable sales. Average ticket size rose 14% to over $3,800, primarily driven by the design business where tickets averaged over $8,800 and accounted for 36.5% of total sales. Management attributed sales strength to a resilient upper-end consumer and a 23.6% increase in custom special order business as customers prioritize personalization. Inventory levels were reduced to $100.5 million from $106.9 million in Q1, reflecting improved supply chain coordination and faster inventory turns despite rising sales. Marketing strategy shifted toward winning new customers who spend 50% more than repeat customers, utilizing connected TV and direct mail to showcase design capabilities. Operational efficiency is being enhanced through the expansion of AI applications across home delivery, customer chat, and designer-to-customer communications. Management expects to end Q3 with inventory in the $95 million range, though this remains subject to a 5% variance based on product flow and sales volatility. The company plans to open six new stores in the second half of 2026, including entry into Pennsylvania, which will mark its 18th state of operation. Gross margin guidance for 2026 is maintained at 60.5% to 61.0%, with management planning to use tariff refunds to offset rising container rates and fuel costs. Strategic investments in store refreshes for mattress departments and design centers will continue, with approximately half of the fleet completed by year-end and the remainder in 2027. Management anticipates continued cost pressure from a 25% to 30% increase in container rates starting in mid-August due to higher bunker fuel rates. Section 301 tariffs on certain imports were set at 10% and 12.5% in July, while Section 232 tariffs on upholstered wood furniture remain at 25%. Diesel fuel prices remaining above $5 per gallon represent a persistent headwind for transportation, delivery, and product input costs through year-end. The company received $2.1 million in IEEPA tariff refunds during Q2, with $1.5 million recorded as a reduction to cost of goods sold. Variable SG&A guidance was adjusted upward to 18.7%–18.9% due to rising third-party credit costs and higher commission-based compensation. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management noted significant momentum throughout the period, with delivered sales growth accelerating from 4% in April to 11% in June. Written sales also remained strong, posting double-digit increases in every month of the quarter. Growth is driven by a combination of pricing and a mid-single-digit increase in units per ticket. Management sees further upside as only high-teens percentage of customers currently use design services, with a long-term target of 25% or more. Directly sourced tariff refunds are largely complete, but negotiations for indirectly sourced refunds involving third-party vendors are ongoing. Management expects these additional refunds to total approximately $1 million to $1.5 million and hopes to receive them within the current calendar year.

Haverty Furniture (HVT) came out with quarterly earnings of $0.25 per share, beating the Zacks Consensus Estimate of $0.23 per share. This compares to earnings of $0.16 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +8.70%. A quarter ago, it was expected that this residential furniture and accessories retailer would post earnings of $0.26 per share when it actually produced earnings of $0.26, delivering no surprise. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Haverty Furniture, which belongs to the Zacks Retail - Home Furnishings industry, posted revenues of $194.94 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.99%. This compares to year-ago revenues of $181.02 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Haverty Furniture shares have added about 10.5% since the beginning of the year versus the S&P 500's gain of 11%. While Haverty Furniture has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Haverty Furniture was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.45 on $204.04 million in revenues for the coming quarter and $1.62 on $797.18 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Home Furnishings is currently in the bottom 14% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Somnigroup International (SGI), is yet to report results for the quarter ended June 2026. The results are expected to be released on August 6. This mattress maker is expected to post quarterly earnings of $0.58 per share in its upcoming report, which represents a year-over-year change of +9.4%. The consensus EPS estimate for the quarter has been revised 0.5% lower over the last 30 days to the current level. Somnigroup International's revenues are expected to be $1.89 billion, up 0.5% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Haverty Furniture Companies, Inc. (HVT) : Free Stock Analysis Report Somnigroup International Inc. (SGI) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

This article first appeared on GuruFocus. Net Sales: $194.9 million, up 7.7% year-over-year. Comparable Store Sales: Up 8% in Q2, marking the fourth consecutive quarter of positive written and delivered comp sales. Written Sales: Total written sales up 12.6%, with comps up 12.3%. Gross Margin: Expanded 60 basis points to 61.4%, from 60.8% last year. Pre-Tax Income: $7.4 million, or 3.8% of sales, compared with $4.3 million, or 2.4% of sales, a year ago. Net Income: $5.3 million, or $0.32 per diluted share, versus $2.7 million, or $0.16 per share, in the prior year quarter. SG&A Expenses: Increased $5.8 million to $113.2 million, but decreased as a percentage of sales to 58% from 59.3%. Average Ticket: Rose 14% to over $3,800, with design average ticket up 15.7% to over $8,800. Design Business: Accounted for 36.5% of business, with custom special-order business up 23.6%. Merchandise Categories: All positive, with double-digit increases in upholstery, bedroom, dining, and occasional, and mid-single-digit growth in mattresses and decor. Inventory: Reduced to $100.5 million at end of Q2, down from $106.9 million at end of Q1. Cash and Cash Equivalents: $104.3 million at end of Q2, with no funded debt. Customer Deposits: $43.3 million, up $7.8 million from year-end. Store Count: Ended Q2 with 129 stores; opened two new locations and closed one, with plans to end the year at 133 stores. Capital Expenditures: $13.1 million in the first six months of 2026. Share Repurchases: Approximately 723,000 shares for $16.6 million year-to-date. Warning! GuruFocus has detected 9 Warning Signs with HVT. Is HVT fairly valued? Test your thesis with our free DCF calculator. Release Date: August 04, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Earnings per share doubled to $0.32 in Q2 2026, with net sales up 7.7% and comparable store sales up 8%. Gross margin expanded 60 basis points to 61.4%, driven by strong average ticket growth of 14% to over $3,800. Design business continues to thrive, with average ticket up 15.7% to over $8,800 and custom special-order sales rising 23.6%. Inventory reduced to $100.5 million from $106.9 million in Q1, with plans to further reduce to $95 million in Q3. Opened two new stores in Q2 and plans six more in H2 2026, including entry into an 18th state, with new locations performing ahead of expectations. Received $2.1 million in tariff refunds, with potential for additional refunds from indirect suppliers to offset cost pressures. Traffic turned positive in Q2, and all merchandise categories saw sales growth, with double-digit increases in upholstery, bedroom, dining, and occasional. Expanded AI use across operations, including home delivery and customer chat, to improve efficiency and customer service. Maintained a strong balance sheet with $104.3 million in cash, no funded debt, and increased credit availability to $100 million. Gross margin excluding tariff refunds was flat at 60.7% versus 60.8% last year, indicating underlying margin pressure. SG&A expenses increased 5.4% to $113.2 million, driven by higher commissions, third-party credit costs, and administrative expenses. Facing significant cost pressures from fuel increases, including a 25-30% rise in container rates and higher diesel fuel costs. Third-party credit costs continue to rise, impacting variable SG&A expenses and overall profitability. Closed two stores in Texas (San Angelo and College Station) due to underperformance, reflecting ongoing portfolio optimization. Effective tax rate in Q2 was 28.5%, higher than the anticipated 26% for the full year, due to state taxes and stock award vesting. Customer deposits increased, but this may indicate higher order backlog, which could strain delivery timelines. Tariff refunds from indirect suppliers are uncertain and may be lower than expected due to negotiations and legal fees. Q: Can you provide more detail on the progression of written and delivered same-store sales throughout the second quarter?A: CFO Richard Hare reported that written sales increased 10.6% in April, 15.7% in May, and 10.2% in June, resulting in double-digit growth every month. Delivered sales showed strong momentum, rising approximately 4% in April, 8% in May, and 11% in June. Q: What is driving the increase in average ticket, and what is the outlook for this metric going forward?A: CEO Steve Burdette explained that the 14% increase in average ticket to over $3,800 is driven by both pricing and a mid-single-digit increase in units per ticket. He expressed confidence in continued growth, highlighting the significant upside in the design business, which currently attracts only high-teens percentage of customers but has a target potential of 25% or more. Q: What are the expectations for future tariff refunds, and how will they compare to the refunds already received?A: CFO Richard Hare stated that the $2.1 million in refunds received in Q2 concludes all directly sourced tariffs. Negotiations are ongoing for indirectly sourced tariffs, which involve multiple parties and potential legal fees. He expects the indirect refunds to be a similar amount, plus or minus $1 million to $1.5 million, with receipt hoped for within the calendar year. Q: Can you elaborate on the traffic trends during the quarter and the current state of the consumer?A: CEO Steve Burdette noted that traffic turned positive in Q2 after being negative in Q1 due to weather and the outbreak of the war. Traffic was consistently slightly positive throughout the quarter. He also stated that the higher-end consumer remains resilient, with strong performance in higher price points and design special orders, though sales were positive across all price categories. Q: What is driving the increase in variable SG&A costs, and what are the specific cost pressures?A: CFO Richard Hare attributed the increase primarily to higher third-party credit costs. While usage is being monitored, the rates being charged are more expensive this year compared to last year. Q: Were there any notable regional differences in sales performance during the quarter?A: CEO Steve Burdette reported that every district was positive for the quarter. The Midwest continued to show strength, and the Eastern District performed well. Florida and Texas had more difficult comparisons but still delivered positive results. Q: How should we expect fixed SG&A expenses to trend in the second half of the year?A: CFO Richard Hare confirmed that fixed SG&A costs will step up in both the third and fourth quarters, primarily due to increased occupancy costs related to new store openings. The company's guidance for this line item remains unchanged from the first quarter. Q: Are there any noticeable trends in sales across different price points, and is the improvement broad-based?A: CEO Steve Burdette stated that the company is not seeing customers shy away from higher price points. The higher end of the product line, including design and special orders, is performing extremely well. The company maintains a mix of good, better, and best products, all of which are meeting customer demand and contributing to a constant lift across the board. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

ATLANTA, Aug. 4, 2026 /PRNewswire/ -- Haverty Furniture Companies, Inc. (NYSE: HVT and HVT.A), today reported operating results for the second quarter ended June 30, 2026. Second Quarter 2026 versus Second Quarter 2025: Diluted earnings per common share ("EPS") of $0.32 versus $0.16. Consolidated sales increased 7.7% to $194.9 million. Comparable store sales increased 8.0%. Gross profit margin was 61.4% compared to 60.8%. Excluding the impact of approximately $1.5 million in IEEPA tariff refunds, gross margin was 60.7% in 2026 compared to 60.8% in 2025. Steven G. Burdette, President and CEO said, "Our second quarter results reflect the sustained momentum in our business, marked by a 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. Gross margins expanded to 61.4%, which included the benefit of approximately $1.5 million in IEEPA tariff refunds. We also advanced our strategic growth initiatives with the openings of two stores, Fenton, Missouri and Mt. Juliet, Tennessee. We are on track to open five additional stores and complete one relocation, increasing our 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. 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." Second Quarter ended June 30, 2026 Compared to Same Period of 2025 Total sales up 7.7%, comp-store sales up 8.0% for the quarter. 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. Gross profit margins increased to 61.4% in 2026 from 60.8% in 2025. SG&A expenses were 58.0% of sales versus 59.3% and increased $5.8 million. The primary drivers of this change are: Balance Sheet and Cash Flow for the Six Months Ended June 30, 2026 Cash, cash equivalents, and restricted cash equivalents at June 30, 2026 are $111.0 million. Invested $13.1 million in capital expenditures. Purchased approximately 723,000 shares of common stock for $16.6 million. Paid $10.6 million in quarterly cash dividends. No debt outstanding at June 30, 2026, and credit availability of $100 million. Expectations and Other Our 2026 guidance includes tariffs currently in effect as of August 4, 2026 but excludes future IEEPA tariff refunds that may be received for indirectly sourced products. We are closely monitoring the tariff developments to manage our exposure and minimize the effects on our business. Our expectations for gross profit margins for 2026 are between 60.5% to 61.0%, unchanged from our previous guidance. Gross profit margins fluctuate quarter to quarter in relation to our promotional cadence. Fixed and discretionary expenses within SG&A for the full year of 2026 are expected to be in the $307.0 to $309.0 million range, unchanged from our previous guidance. Variable SG&A expenses for the full year of 2026 are anticipated to be in the 18.7% to 18.9% range, an increase from our previous guidance due to higher selling expenses. Our effective tax rate for 2026 is expected to be 26.0%, excluding the impact from discrete items and any new tax legislation. Planned capital expenditures for the full year of 2026 are approximately $34.0 million, an increase from our previous guidance due to store growth. Key Results HAVERTY FURNITURE COMPANIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) HAVERTY FURNITURE COMPANIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) HAVERTY FURNITURE COMPANIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) GAAP to Non-GAAP Reconciliation We report our financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. We believe that EBITDA is a meaningful measure to share with investors as useful information on our operating results and to provide additional information with respect to key metrics used by management in its financial and operational decision making. Additionally, the company presents gross profit margin, excluding the impact of IEEPA tariff refunds and LIFO, consolidated adjusted net income, and adjusted diluted EPS. We believe these non-GAAP measures provide investors with useful supplemental information because they enhance the comparability of the Company's results across periods and more closely align with the metrics management uses to evaluate the performance of its core operations, to conduct internal planning and budgeting, and to make operating decisions. These measures are not intended to be considered in isolation or as a substitute for, or superior to, the most directly comparable GAAP measures, and the Company's presentation may differ from similarly titled measures used by other companies. Reconciliation of GAAP measures to EBITDA Gross profit margin, excluding the impact of IEEPA tariff refunds Gross profit margin, excluding the impact of IEEPA tariff refunds and LIFO Consolidated Adjusted Net Income / Adjusted Diluted EPS Comparable Store Sales Comparable-store or "comp-store" sales is a measure which indicates the performance of our existing stores and website by comparing the sales growth for stores and online for a particular month over the corresponding month in the prior year. Stores are considered non-comparable if they were not open during the corresponding month or if the selling square footage has been changed significantly. Cost of Goods Sold and SG&A Expense We include substantially all our occupancy and home delivery costs in SG&A expense as well as a portion of our warehousing expenses. Accordingly, our gross profit may not be comparable to those entities that include these costs in cost of goods sold. We classify our SG&A expenses as either variable or fixed and discretionary. Our variable expenses are comprised of selling and delivery costs. Selling expenses are primarily compensation and related benefits for our commission-based sales associates, the discount we pay for third party financing of customer sales and transaction fees for credit card usage. We do not outsource delivery, so these costs include personnel, fuel, and other expenses related to this function. Fixed and discretionary expenses are comprised of rent, depreciation and amortization and other occupancy costs for stores, warehouses and offices, and all advertising and administrative costs. Conference Call Information The company invites interested parties to listen to the live webcast of the conference call on August 4, 2026 at 10:00 a.m. ET at its website, ir.havertys.com. If you cannot listen live, a replay will be available on the day of the conference call at the website at approximately 1:00 p.m. ET. About Havertys Furniture Haverty Furniture Companies, Inc. (NYSE: HVT and HVT.A), established in 1885, is a full-service home furnishings retailer with 129 showrooms in 17 states in the Southern and Midwestern regions providing its customers with a wide selection of quality merchandise in middle to upper-middle price ranges. Additional information is available on the Company's website www.havertys.com. Safe Harbor This press release contains, and the conference call may contain forward-looking statements subject to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are subject to risks and uncertainties and change based on various important factors, many of which are beyond our control. All statements in the future tense and all statements accompanied by words such as "expect," "likely," "outlook," "forecast," "preliminary," "would," "could," "should," "position," "will," "project," "intend," "plan," "on track," "anticipate," "to come," "may," "possible," "assume," and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, our expectations for retail and operating margins, selling square footage and capital expenditures for 2026, our liquidity position to continue to fund our growth plans, and our efforts and initiatives to execute our strategic plan. We caution that our forward-looking statements involve risks and uncertainties, and while we believe that our expectations for the future are reasonable in view of currently available information you are cautioned not to place undue reliance on our forward-looking statements, and they should not be relied upon as a prediction of actual results. Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements include but are not limited to: competition from national, regional and local retailers of home furnishings; our ability to anticipate changes in consumer preferences; our ability to maintain and enhance our brand; our ability to successfully implement our growth and other strategies; our ability to locate our stores in suitable locations to attract customers; importing a substantial portion of our merchandise from foreign sources (including the impact of tariffs); our dependence on third-party producers to meet our requirements; significant fluctuations and volatility in the cost of raw materials and components; risks in our supply chain, including price, availability and quality of raw materials and components utilized in the products we sell and our ability to forecast our supply chain needs; a failure by our vendors to meet our quality control standards or comply with changes to the legislative or regulatory framework regarding product safety; our reliance on third-party transportation vendors for product shipments from our suppliers; damage to one of our distribution centers; our reliance on information technology and any disruptions in our IT systems; the vulnerability of our information technology infrastructure to cyber-attacks, breaches and other disruptions; the effects of labor disruptions or labor shortages; and our ability to attract and retain key employees; the rise of oil and gasoline prices; increased transportation costs; changes in economic conditions such as consumer disposable income, fuel prices, inflation rates, recession and fears of recession, unemployment rates, interest rates, tax rates, consumer confidence, and changing government policies, laws and regulations; certain risks may not be fully covered by insurance; failure to protect our intellectual property; our ability to comply with all applicable laws and regulations; pending or unforeseen litigation; natural disasters, public health events, geopolitical instability or other disruptive events; and other risks and uncertainties as may be detailed from time to time in our public announcements and Securities and Exchange Commission filings. Forward-looking statements describe our expectations only as of the date they are made, and the Company undertakes no duty to update its forward-looking statements except as required by law. You are advised, however, to review any further disclosures we make on related subjects in our subsequent Forms 10-K, 10-Q, 8-K, and other reports filed with the SEC. View original content to download multimedia:https://www.prnewswire.com/news-releases/havertys-furniture-reports-operating-results-for-second-quarter-2026-302841641.html

Floor & Dcor (FND) came out with quarterly earnings of $0.58 per share, beating the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.58 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +1.75%. A quarter ago, it was expected that this company would post earnings of $0.42 per share when it actually produced earnings of $0.37, delivering a surprise of -11.9%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. Floor & Dcor, which belongs to the Zacks Retail - Home Furnishings industry, posted revenues of $1.25 billion for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.18%. This compares to year-ago revenues of $1.21 billion. The company has topped consensus revenue estimates just once over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Floor & Dcor shares have lost about 8.4% since the beginning of the year versus the S&P 500's gain of 6.9%. While Floor & Dcor has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Floor & Dcor was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.58 on $1.23 billion in revenues for the coming quarter and $1.94 on $4.85 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Retail - Home Furnishings is currently in the bottom 35% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Haverty Furniture (HVT), another stock in the same industry, has yet to report results for the quarter ended June 2026. The results are expected to be released on August 4. This residential furniture and accessories retailer is expected to post quarterly earnings of $0.23 per share in its upcoming report, which represents a year-over-year change of +43.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Haverty Furniture's revenues are expected to be $189.28 million, up 4.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Floor & Decor Holdings, Inc. (FND) : Free Stock Analysis Report Haverty Furniture Companies, Inc. (HVT) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research