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Jun 30, 2020
Haverty Furniture Q2 2020 Earnings Report
Havertys' Q2 2020 earnings were impacted by store closures due to COVID-19, but written business rebounded strongly in the last two months of the quarter. The company also increased its dividend and resumed its stock repurchase program.
Key Takeaways
Havertys reported EPS of $0.72 for Q2 2020, compared to $0.29 in Q2 2019. Sales were $110.0 million, down from $191.9 million in the same period last year due to store closures. The company's written business for the last two months of the quarter was up 13.9%.
EPS was $0.72 compared to $0.29 in the same period of 2019.
Sales reached $110.0 million compared to $191.9 million for the same period in 2019.
Gross profit margins increased 20 basis points to 54.2% from 54.0%.
The board approved important shareholder actions related to dividends and the stock repurchase program.
Forward Guidance
The company is not providing guidance on gross margin and SG&A expense expectations for the remainder of 2020 due to the uncertainty caused by the pandemic.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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