Haverty Furniture Companies Inc.

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Havertys Reports Record Third Quarter 2013 EPS of $0.42


Atlanta,  Georgia, October  30, 2013 - HAVERTYS   (NYSE: HVT  and HVT.A) reports
earnings  per share  for the  third quarter  ended September  30, 2013 of  $0.42
compared  to $0.15 for the same period  of 2012.  The earnings per share for the
nine  months ended  September 30, 2013 is  $0.99 compared  to $0.36 for the same
period of 2012.

Clarence Smith, chairman, president and CEO, said "We are reaching our customers
in  new ways  and providing  inspiration, information  and assistance so she can
confidently turn her vision of home into a reality.  Our teams have been engaged
in   enriching   the  shopping  experience  across  all  channels  and  offering
captivating  products with great fabrics, finishes and function.   Operationally
we  are refining productivity  benchmarks and continue  to strive to grow market
share  and comparable store  sales.  We believe  the geographic regions in which
our  stores are located  coupled with our  financial strength and positioning of
the Havertys brand will fuel our growth as housing and employment improve.


Financial Highlights

Third Quarter 2013 Compared to Third Quarter 2012

  * Net sales increased 11.6% to $192.7 million.  Comparable store sales were up
    11.8%.  Total written business was up 7.3% and average ticket rose 5.6%.
  * Gross  profit margins  increased 140 basis  points to  53.9% from 52.5% as a
    percent of sales.  This includes a year-over-year benefit of 40 basis points
    from changes in the LIFO reserve.
  * Selling, general and administrative costs as a percent of sales decreased by
    350 basis  points to 45.8% from 49.3% as  fixed and discretionary costs were
    leveraged
  * Pre-tax  earnings of $15.4  million increased 470 basis  points to 8.0% from
    3.3% as a percent of sales.
  * Our retail store count at September 30, 2013 was 119 versus 120 at September
    30, 2012.


Nine Months ended September 30, 2013 Compared to Same Period of 2012

  * Net sales increased 12.7% to $549.9 million.  Comparable store sales were up
    11.5%.  Average ticket increased 8.6%.
  *  Gross  profit margins increased 130 basis  points to 53.7%.  Excluding LIFO
    and  the  impact  of  a  $0.8  million out-of-period adjustment in the first
    quarter, gross profit margin increased 110 basis points to 53.6% from 52.5%
    as a percent of sales.
  * Selling,  general and administrative  costs as a  percent of sales decreased
    290 basis   points   to   46.9% from   49.8% due  to  leveraging  fixed  and
    discretionary  costs.  The  $15.4 million  increase in  dollars is primarily
    related  to  increases  in:   commissions,  wages,  incentive  compensation,
    related payroll costs, delivery expense, depreciation and advertising.

Expectations and Other

  * Written  business for the fourth quarter to date of 2013 is up approximately
    5.6% over the 16.7% increase that had been achieved for the same period last
    year.
  * Our  year-to-date gross profit margin excluding the out-of-period adjustment
    and  assuming  no  LIFO  impact  was  53.6% as  a  percent of net sales.  We
    anticipate  this  run  rate  is  a  reasonable  expectation for the next few
    quarters  barring the  effect of  LIFO accounting  for any future changes in
    landed merchandise costs.
  * Fixed  and discretionary type  expenses within SG&A  costs for the full year
    2013 are  expected to  be slightly  above the  high end  of the $220 to $222
    million  range we have previously  discussed.  These expenses will generally
    increase  3% to  5% annually  due  to  inflation,  expansion,  staffing, and
    decisions  made  on  the  level  of  advertising spend.   The variable costs
    within  SG&A for the full year 2013 are anticipated to be slightly below the
    lower end of the range of 17.0% to 17.5% as a percent of sales.
  * Selling  square footage is  estimated to decrease  2.2% in 2013 based on the
    net  effect  of  closing  three  stores  in  the first half and the recently
    completed  remodeling  and  expansion  of  three  stores.   Planned  capital
    expenditures are expected to be $22 million in 2013.
  * We  expect to increase selling square footage approximately 3% in 2014 based
    on   increasing   our  store  count  by  a  net  three  locations.   Capital
    expenditures are estimated in the $25 to $29 million range in 2014 depending
    on the timing of expenditures for new locations.






  HAVERTY FURNITURE COMPANIES, INC.

  CONDENSED CONSOLIDATED STATEMENTS OF INCOME

  (In thousands, except per share data - Unaudited)



                             Three Months Ended          Nine Months  Ended
                                September 30,               September 30,
                         --------------------------- ---------------------------
                             2013          2012          2013          2012
                         ------------- ------------- ------------- -------------


 Net sales                  $ 192,722     $ 172,677     $ 549,926     $ 487,766

 Cost of goods sold            88,845        82,004       254,430       232,002
                         ------------- ------------- ------------- -------------
       Gross profit           103,877        90,673       295,496       255,764

 Credit service
 charges                           78            69           240           216
                         ------------- ------------- ------------- -------------
       Gross profit
       and other
       revenue                103,955        90,742       295,736       255,980
                         ------------- ------------- ------------- -------------


 Expenses:

       Selling,
       general and
       administrative          88,286        85,082       258,145       242,728

       Interest, net              282           154           837           473

       Provision for
       doubtful
       accounts                    51            30            96           101

       Other (income)
       expense, net               (52 )        (160 )         (46 )        (745 )
                         ------------- ------------- ------------- -------------
                               88,567        85,106       259,032       242,557
                         ------------- ------------- ------------- -------------


 Income before income
 taxes                         15,388         5,636        36,704        13,423

 Income tax expense             5,894         2,322        14,120         5,291
                         ------------- ------------- ------------- -------------
       Net income           $   9,494     $   3,314     $  22,584     $   8,132
                         ------------- ------------- ------------- -------------


 Basic earnings per
 share:

       Common Stock         $    0.42     $    0.15     $    1.01     $    0.37

       Class A Common
       Stock                $    0.40     $    0.14     $    0.96     $    0.35



 Diluted earnings per
 share:

       Common Stock         $    0.42     $    0.15     $    0.99     $    0.36

       Class A Common
       Stock                $    0.40     $    0.14     $    0.95     $    0.35



 Basic weighted
 average shares
 outstanding:

       Common Stock            20,047        19,163        19,786        19,018

       Class A Common
       Stock                    2,455         2,887         2,606         2,986



 Diluted weighted
 average shares
 outstanding:

       Common Stock            22,855        22,371        22,783        22,319

       Class A Common
       Stock                    2,455         2,887         2,606         2,986



 Cash dividends per
 share:

       Common Stock         $   0.080     $  0.0400     $    0.16     $   0.080

       Class A Common
       Stock                $   0.075     $  0.0375     $    0.15     $   0.075







  HAVERTY FURNITURE COMPANIES, INC.

  CONDENSED CONSOLIDATED BALANCE SHEETS

  (In thousands - Unaudited)



                                   September      December
                                      30,           31,        September 30,
                                     2013           2012            2012
                                 -------------  ------------  ----------------
                                  (Unaudited)                     (Unaudited)

 ASSETS

 Current assets

       Cash and cash
       equivalents                 $   72,078     $  53,550     $      75,026

       Restricted cash and
       cash equivalents                 7,016         7,013             7,011

       Accounts receivable              8,102         9,710             9,564

       Inventories                     91,600        96,902            84,530

       Prepaid expenses                 7,298         9,532             9,762

       Other current assets             4,052         3,187             5,509
                                 -------------  ------------  ----------------
             Total current
             assets                   190,146       179,894           191,402



 Accounts receivable, long-
 term                                     845           814               529

 Property and equipment               191,491       193,085           187,033

 Deferred income taxes                 23,823        24,366            23,526

 Other assets                           4,243         3,937             3,908
                                 -------------  ------------  ----------------
             Total assets          $  410,548     $ 402,096     $     406,398
                                 -------------  ------------  ----------------


 LIABILITIES AND STOCKHOLDERS'
 EQUITY

 Current liabilities

       Accounts payable            $   20,281     $  28,178     $      23,451

       Customer deposits               23,045        20,963            21,676

       Accrued liabilities             35,312        33,272            34,146

       Deferred income taxes            6,601         6,595             6,996

       Current portion of
       lease obligations                  928           881               819
                                 -------------  ------------  ----------------
             Total current
             liabilities               86,167        89,889            87,088



 Lease obligations, less
 current portion                       16,451        18,473            12,447

 Other liabilities                     27,006        34,306            34,442
                                 -------------  ------------  ----------------
             Total liabilities        129,624       142,668           133,977



 Stockholders' equity                 280,924       259,428           272,421
                                 -------------  ------------  ----------------
             Total liabilities
             and stockholders'
             equity                $  410,548     $ 402,096     $     406,398
                                 -------------  ------------  ----------------





  HAVERTY FURNITURE COMPANIES, INC.

  CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

  (In thousands - Unaudited)



                                                        Nine Months Ended
                                                          September 30,
                                                    --------------------------
                                                       2013           2012
                                                    -----------    -----------
 CASH FLOWS FROM OPERATING ACTIVITIES:

      Net  income                                    $  22,584      $   8,132

      Adjustments to reconcile net income to net
        cash provided by operating activities:

           Depreciation and amortization                15,811         14,334

           Share-based compensation expense              2,682          1,944

           Provision for doubtful accounts                  96            101

           Other                                           394            534

      Changes in operating assets and
      liabilities:

           Accounts receivable                           1,481          1,706

           Inventories                                   5,302          8,914

           Customer deposits                             2,082          7,104

           Other assets and liabilities                 (3,538 )       (1,647 )

           Accounts payable and accrued
           liabilities                                  (5,857 )        7,193
                                                      ---------      ---------
                Net cash provided by operating
                activities                              41,037         48,315
                                                      ---------      ---------


 CASH FLOWS FROM INVESTING ACTIVITIES:

      Capital expenditures                             (16,720 )      (20,166 )

      Other                                                  7            244
                                                      ---------      ---------
                Net cash used in investing
                activities                             (16,713 )      (19,922 )
                                                      ---------      ---------


 CASH FLOWS FROM FINANCING ACTIVITIES:

      Payments on lease obligations                       (643 )         (553 )

      Dividends paid                                    (3,564 )       (1,750 )

      Proceeds from exercise of stock options              872             84

      Taxes on vested restricted shares                 (2,461 )         (515 )

      Treasury stock acquired                                -           (218 )
                                                      ---------      ---------
                Net cash used in financing
                activities                              (5,796 )       (2,952 )
                                                      ---------      ---------
 Increase in cash and cash equivalents during
 the period                                             18,528         25,441

 Cash and cash equivalents at beginning of
 period                                                 53,550         49,585
                                                      ---------      ---------
 Cash and cash equivalents at end of period          $  72,078      $  75,026
                                                      ---------      ---------




About Havertys

Havertys (NYSE: HVT and HVT.A), established in 1885, is a full-service home
furnishings retailer with 119 showrooms in 16 states in the Southern and
Midwestern regions providing its customers with a wide selection of quality
merchandise in middle to upper-middle price ranges.  Additional information is
available on the company's website at www.havertys.com.

News releases include forward-looking statements, which are subject to risks and
uncertainties.  Factors that might cause actual results to differ materially
from future results expressed or implied by such forward-looking statements
include, but are not limited to, general economic conditions, the consumer
spending environment for large ticket items, competition in the retail furniture
industry and other uncertainties detailed from time to time in the company's
reports filed with the SEC.

Conference Call Information

The company invites interested parties to listen to the live audiocast of the
conference call on Thursday, October 31, 2013 at its website, www.havertys.com
under the investor relations section. If you can not listen live, a replay will
be available on the day of the conference call at the website or via telephone
at approximately 12:00 p.m. EDT through Thursday, November 7, 2013. The number
to access the telephone playback is 1-800-406-7325 (access code: 4647482#).





Contact:
Havertys 404-443-2900
Dennis L. Fink
            EVP & CFO
Jenny Hill Parker
            SVP, Finance, Secretary and Treasurer

SOURCE:  Havertys



This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
    other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
     originality of the information contained therein.

Source: Haverty Furniture Company via Thomson Reuters ONE
[HUG#1739421]



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