What does Haverty Furniture A do and what are its main business segments?

What is Haverty Furniture A's gross profit margin?

What were the key takeaways from Haverty Furniture A's earnings call?

What is the market's earnings forecast for Haverty Furniture A next quarter?

What is Haverty Furniture A's latest dividend and current dividend yield?

What factors drove the changes in Haverty Furniture A's revenue and profit?

Did Haverty Furniture A beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for Haverty Furniture A year over year?

- **Revenue Growth**: Q3 2025 sales up 10.6% YoY to $194.5 million, driven by 13.6% Labor Day event growth and 7.1% upholstery special orders increase.
- **Margin Resilience**: Gross margin held steady at 60.3%, despite $624,000 LIFO expenses, with strategic price adjustments offsetting 25% tariffs on furniture imports.
- **Marketing Success**: $2.8 million in additional marketing (direct mail, digital) boosted e-commerce sales 13.6% and conversion rates.
- **Expansion Plans**: New Houston store (total 129) and 2026 goal of 5 new stores/year to drive $800+ million annual sales and margin expansion.
- **Tariff Management**: 30% tariffs set for January 2026, with ongoing collaboration with vendors to mitigate costs.

**【CEO Summary Section】**
- Q3 2025 revenue reached $194.5 million, up 10.6% YoY, with comparable store sales growing 7.1%. Key drivers included a successful Labor Day event (13.6% written sales increase) and a 7.1% rise in upholstery special orders.
- Gross margin remained stable at 60.3%, despite $624,000 in LIFO expenses. Average ticket increased 6.1% to $3,668, with design tickets up 11.9% to $7,986.
- The company opened a new store in Houston (New Caney) in mid-October, bringing total locations to 129, with plans to return to a 5-store/year growth rate in 2026.
- Tariffs on furniture from Mexico, Vietnam, Cambodia, Thailand, and Indonesia (25% effective October 14, escalating to 30% in January 2026) were partially offset by strategic price adjustments.
- Traffic growth in the mid-single digits and conversion rate improvement (low single-digit decline vs. Q2) highlighted operational progress.

**【CFO Financial Commentary】**
- Net income was $4.7 million ($0.28 EPS), down 4.1% YoY, due to a 11.3% increase in SG&A expenses ($112.3 million, 57.8% of sales) driven by $2.8 million in additional marketing (direct mail, digital campaigns) and higher administrative costs.
- Inventories rose $3.7 million YoY to $92.4 million, with LIFO expenses expected to continue impacting margins through Q4.
- 2025 guidance includes gross margins of 60.4-60.7%, SG&A expenses of $296-298 million, and CapEx of $24 million (19.6% for new stores, 2.6% for IT).

**【Q&A Highlights】**
- **Tariff Impact**: Price adjustments offset tariff effects; LIFO expenses will persist but margins remain stable.
- **Marketing Efficiency**: Direct mail campaign drove new customer acquisition, with e-commerce sales up 13.6%.
- **Growth Leverage**: CFO expects operating margin expansion when annual sales exceed $800 million, achievable with 2026's projected growth.
- **Regional Performance**: All regions showed positive comps, with Texas, Georgia, and Florida leading at 8-10% growth.
- **Tariff Outlook**: Monitoring U.S. trade talks and Supreme Court decisions for potential tariff reductions.


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