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  • Clint Engel

    Clint's Notes

    Clint Engel

    August 1, 2017

    5 takeaways from Havertys' second quarter

    Havertys posted record second quarter earnings this week while sales edged up slightly. Here are some key takeaways from the follow-up earnings call with analysts. Making the most of less traffic. President, Chairman and CEO Clarence Smith made it clear that Havertys hasn’t seen a change in the industry-wide trend of declining physical store traffic. But the company is doing a better job of closing those who do make the trip and boosting its average ticket. In the second quarter, both closing rate and average ticket increased about 3% (the company has indicated before that its average ticket is ...

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  • Bill McLoughlin

    Furniture Everyday

    Bill McLoughlin

    February 24, 2017

    What if housing would never again drive your sales?

    The common axiom of the furniture business is that housing activity drives furniture sales. When the housing bubble burst in 2008, the furniture industry suffered near catastrophic setbacks, and the uneven recovery of the housing business since then has been a contributing factor in the furniture industry’s inconsistent recovery. There was good news in January as purchases of previously owned homes were up 3.3% and overall home sales hit their highest levels since 2007. However, the combination of low housing inventories and rising mortgage rates are serving as a brake on momentum, and expectations are that interest rates ...

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  • Thomas Russell

    Sourcing Strategies by Tom Russell

    Thomas Russell

    February 10, 2017

    A look at the industry’s history helps define today’s complex trade issues

    Reading all the headlines about the threat of tariffs on foreign made goods — China, Mexico or otherwise — got me thinking about what the furniture industry was like before I joined Furniture Today in 2003. Back then, the industry was undergoing one of the biggest shifts it had experienced since it moved from the Grand Rapids region of Michigan to the South in the early- to mid-20th century. Fast forward to the early 2000s, and China had not only become the largest source for imported furniture, but it was also a factor responsible for the shuttering of many U.S. furniture ...

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