Havertys reported a decrease in consolidated sales and comparable store sales for Q4 2023 compared to Q4 2022. However, the company saw an increase in gross profit margin. The company's strong balance sheet is enabling them to execute strategic store growth plans and invest in their business.
Diluted earnings per share decreased to $0.90 compared to $1.42 in Q4 2022.
Consolidated sales decreased by 24.9% to $210.7 million.
Comparable store sales decreased by 25.5%.
Gross profit margin increased to 62.4% compared to 57.0% in Q4 2022.
Havertys provided expectations for gross profit margins, SG&A expenses, tax rate, and capital expenditures for the full year of 2024.
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