Havertys Q2 EPS $0.27 vs $0.70 YoY; sales down 13.4% to $178.6M

HAVERTY FURNITURE COMPANIES INC

Diluted EPS $0.27 versus $0.70 in Q2 2023; net income $4.4M vs $11.8M.
Consolidated sales fell 13.4% to $178.6M; comparable-store sales down 13.6%.
SGA expenses rose to 57.7% of sales from 53.3%; gross margin nearly flat at 60.4%.
Full-year SGA guidance reduced to $282-284M (fixed) and 19.7-20.0% (variable); tax rate guided to 27.5%.
Dividend raised to $0.32/common share; no debt; $116.1M cash; new Indianapolis store planned.

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