Havertys (HVT) Tops Q4 EPS by 1c

Havertys (NYSE: HVT) reported Q4 EPS of $0.41, $0.01 better than the analyst estimate of $0.40. Revenue for the quarter came in at $215.9 million versus the consensus estimate of $215.9 million.

On a comparable store basis, sales decreased 0.9%. Total written business was down 1.3% and written comparable sales declined 3.6% over the same period last year.

The company said: "Planned Capital expenditures for 2016 are $33.0 million. Our 2016 plans include two new locations, each in a new market, a temporary location for our Lubbock, Texas operations and the expansion and remodeling of two existing stores. We also plan to close one store at the end of its lease term. These changes will increase selling square footage approximately 1.4% and our store count will increase by two during 2016 to 123 assuming the store changes occur as planned. In addition to store investments, we are also expanding our Florida distribution center to better flow product and serve our customers and improving our technology infrastructure."

For earnings history and earnings-related data on Havertys (HVT) click here.

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