Havertys reported a decrease in consolidated sales by 5.9% to $224.8 million and a decrease in EPS to $0.74 compared to $1.11 in the first quarter of 2022. However, the gross profit margin increased slightly to 59.1% from 59.0%.
Diluted earnings per share decreased to $0.74 from $1.11 year-over-year.
Consolidated sales decreased by 5.9% to $224.8 million.
Comparable-store sales decreased by 6.7%.
Gross profit margin increased slightly to 59.1% from 59.0%.
Havertys provided expectations for gross profit margins and SG&A expenses for the full year of 2023, along with planned capital expenditures and retail square footage increases.
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