HAVERTY FURNITURE COMPANIES INC reported sales for the month ended October 31, 2007.
Havertys' October sales decreased 1.6% to $62.4 million, compared with $63.5 million in October 2006. On a comparable-store basis, October sales decreased 4.4%.
Comparable-store sales do not include stores or locations opened, closed or otherwise non-comparable during the last 12 months.
Sales for the first ten months of 2007 decreased 9.2% to $641.3 million compared with $706.5 million in 2006. On a comparable-store basis, sales decreased 10.9% for the first ten months.
Clarence H. Smith, president and chief executive officer, said, "Our October sales were down 1.6% in total, less of a decrease than in recent months as we benefited from reducing our unfilled order backlog.
We are scheduled to receive strong shipments of sold goods in November, which should keep our backlog closer to planned levels.
"Incoming written business is still very difficult and was down 9% in total for October. We continue to have significant challenges in some of our regions related to the housing weaknesses and there is little visibility to when that will turn positive.
We are pleased with the new merchandise that has recently arrived in our stores and several collections are quickly moving into our top sellers."
HAVERTY FURNITURE COMPANIES INC
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