Haverty Furnishings Corporations, Inc. (HVT) This autumn 2024 Earnings Name Transcript

Haverty Furnishings Corporations, Inc. (NYSE:HVT) This autumn 2024 Earnings Convention Name February 25, 2025 10:00 AM ET

Firm Contributors

Richard Hare – Chief Monetary Officer
Steve Burdette – President & Chief Government Officer

Convention Name Contributors

Anthony Lebiedzinski – Sidoti & Firm
Cristina Fernández – Telsey Advisory Group

Operator

Greetings, and welcome to Havertys’ Fourth Quarter 2024 Earnings Name. Presently, all members are in a listen-only mode. A short question-and-answer session will observe the formal presentation. [Operator Instructions] As a reminder, this convention is being recorded.

It’s now my pleasure to introduce your host, Richard Hare, Chief Monetary Officer. Thanks, sir. You might start.

Richard Hare

Thanks, operator. Throughout this convention name, we’ll make forward-looking statements, that are topic to dangers and uncertainties. Precise outcomes could differ materially from these made or implied in such statements, which communicate solely because the date they’re made, during which we undertake no obligation to publicly replace or revise. Components that might trigger precise outcomes to vary, together with financial and aggressive situations and different uncertainties detailed within the firm’s stories filed with the SEC.

Our President and CEO, Steve Burdette, will now present extra commentary in regards to the quarter.

Steve Burdette

Good morning. Thanks for becoming a member of our 2024 fourth quarter and full yr convention name. Our fourth quarter gross sales have been $184.4 million, which was down 12.5% with comps down 13.7%. Complete written gross sales have been down 6.7% with comps down 8.7%. Complete gross sales for the yr have been down 16.1% to $722.9 million and comps have been down 16.7%.

Gross margins did stay sturdy for the corporate, coming in at 61.9% for the quarter and 60.7% for the yr. Our pretax revenue for the quarter was $9.6 million or 5.2% working margin, and for the yr, we produced a $26.2 million pretax revenue or 3.6% working margin. We ended the yr with zero