Haverty Furniture Companies, Inc. (Havertys) is a publicly traded specialty retailer of residential furniture and accessories, operating primarily in the Southern and Midwestern United States. Founded in 1885 by J.J. Haverty, the company has grown from a single store in Atlanta, Georgia, to over 100 showrooms across 16 states. Havertys offers a wide range of furniture styles, including traditional, contemporary, and transitional pieces, catering to middle to upper-middle-income consumers. The company's mission is to provide high-quality, stylish home furnishings that meet the diverse tastes of its customer base.
Key Strategic Focus
Havertys emphasizes a customer-centric approach, offering personalized design consultations and in-home services to enhance the shopping experience. The company has developed its own brand of furniture, focusing on quality craftsmanship and tailored merchandise that appeals to regional preferences, such as "coastal," "western," or "urban" styles. Havertys also provides custom upholstery programs and carries well-known mattress brands like Tempur-Pedic, Serta, and Sealy. The company integrates both brick-and-mortar stores and a comprehensive online shopping platform to serve customers through their preferred channels.
Financials and Funding
As of 2024, Havertys reported annual revenue of $722.90 million, a decrease of 16.15% compared to the previous year's $862.13 million. Net income for the same period was $19.96 million, reflecting a 64.57% decline. The company's market capitalization stands at approximately $349.78 million, with a dividend of $1.28 per share, yielding 5.91%. Havertys is listed on the New York Stock Exchange under the ticker symbol HVT.
Leadership Team
- Clarence H. Smith: Chairman, President, and CEO. Mr. Smith has been with Havertys since 1973, serving in various roles before becoming CEO in 2002. He has been instrumental in guiding the company's strategic direction and growth.
- Richard B. Hare: Executive Vice President and CFO. Mr. Hare oversees the company's financial operations, bringing extensive experience in financial management and strategic planning.
- Steven G. Burdette: Executive Vice President and COO. Mr. Burdette manages the company's day-to-day operations, focusing on enhancing operational efficiency and customer satisfaction.
- J. Edward Clary: Executive Vice President and CIO. Mr. Clary leads the company's information technology initiatives, ensuring robust and secure IT infrastructure.
- John L. Gill: Executive Vice President, Merchandising. Mr. Gill is responsible for product selection and merchandising strategies, aligning offerings with customer preferences.
Leadership Changes
In March 2025, Havertys announced that Brendan McGill would assume the role of Senior Vice President and General Counsel, effective April 1, 2025. This appointment reflects the company's commitment to strengthening its leadership team.
Competitor Profile
Market Insights and Dynamics: The home furnishings retail market is highly competitive and fragmented, with numerous national and regional players. Key competitors include Wayfair, Bassett Furniture, Ethan Allen, and La-Z-Boy. Havertys differentiates itself through personalized customer service, a diverse product range, and a strong regional presence.
Competitor Analysis:
- Wayfair: An online-only retailer offering a vast selection of home furnishings at various price points. Wayfair's extensive product range and aggressive pricing strategies make it a formidable competitor.
- Bassett Furniture: Known for its custom furniture offerings and quality craftsmanship, Bassett operates both company-owned stores and a network of licensed dealers.
- Ethan Allen: Offers a wide range of furniture styles with a focus on quality and customization. Ethan Allen operates a mix of company-owned and franchised stores.
- La-Z-Boy: Specializes in comfortable seating options and has a strong brand recognition. La-Z-Boy operates company-owned stores and has a significant online presence.
Strategic Collaborations and Partnerships
Havertys has established partnerships with well-known mattress brands such as Tempur-Pedic, Serta, and Sealy, enhancing its product offerings and catering to a broad customer base. These collaborations allow Havertys to provide high-quality bedding options alongside its furniture selections.
Operational Insights
Havertys operates approximately 125 stores across 16 states, with Florida, Texas, and Georgia being its largest markets, accounting for nearly 55% of its stores. The company's distribution network includes three distribution centers and four home delivery centers, enabling efficient product delivery and inventory management. Havertys' commitment to sustainability is evident through its investment in recycling equipment, converting 81 million pounds of waste into energy since 2012.
Strategic Opportunities and Future Directions
Havertys is focused on expanding its physical presence, as evidenced by the opening of a new location in The Woodlands, Texas. The company is also investing in technology integration, utilizing tools like Power BI and Magento to enhance sales optimization and customer experience. Leadership transitions, such as the appointment of a new Senior Vice President and General Counsel, present opportunities to align strategies with evolving market dynamics.
Contact Information
- Website: https://www.havertys.com
Havertys continues to adapt to the evolving retail landscape by leveraging its rich history, customer-centric approach, and strategic initiatives to maintain its position as a leading furniture retailer.
