Haverty Furniture Companies Inc Q1 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst : Good morning everyone and thank you for taking the questions and certainly nice to see the better-than-expected Q1 results. So thanks for providing the information about the monthly trends, how that progressed. Any way to put a number as far as the impact of the winter storms? And just also curious whether you saw any notable changes in terms of the geographic composition of your written comps?

Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst : Got you. Okay. And so given the increased tariffs, have you guys implemented any price increases so far this quarter in response to that?

Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst : Okay. So it sounds like you think it's not going to have much of an impact on unit volumes, whatever price increases you'll be putting in place?

Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst : Okay. And then just thinking about like what's going on here as of late here, have you seen any notable changes from the competition in your markets just in response to everything that's going on with concerns about the economy and also tariffs?

Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst : Understood. Okay. And lastly for me, as far as the reduction in CapEx guidance, I think it was about $3 million less. What exactly is that for? Just wanted to get more color on that.

Question: Anthony Lebiedzinski - Sidoti & Company, LLC - Analyst : Understood. Alright, well thank you very much guys and best of luck.

Question: Cristina Fernandez - Telsey Advisory Group - Analyst : Hi, good morning and congratulations on the good results for the quarter. I had a couple of questions as well. The first one is on the tariff. I just want to confirm on the guidance that what you're assuming on the gross margin is that the tariffs that are in place now as of yesterday are in place for the full year. Is that what you're assuming that the 10% tariff on Vietnam and all of the Asian countries gets extended and stays that way?

Question: Cristina Fernandez - Telsey Advisory Group - Analyst : Okay, thanks. Okay. And then on the piece that's out of China, that 15% that you're currently pausing, I guess at what point do you need to make a decision whether to ship that out to other countries or place some orders just to not have big holes in your assortment as we move through the year?

Question: Cristina Fernandez - Telsey Advisory Group - Analyst : Okay. That's helpful. And then I wanted to go back to the performance on some of the big weekends. I mean President Day's weekend this year seems like there was a weather impact as well. But more broadly, as you look at some of the big events and weekends over the past year, we've definitely seen some weakness on some of the prior ones. I know a lot of players are getting very competitive on promotional in those weekends. So do you feel like it's the consumer or perhaps that Haverty's is not being as promotional as others are on those weekends and that's leading to some share losses? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 01, 2025 / 2:00PM, HVT.N - Q1 2025 Haverty Furniture Companies Inc Earnings Call

Question: Cristina Fernandez - Telsey Advisory Group - Analyst : And then my last question is on the new store openings last year. It seems like they're doing well based on the spread between total written orders and the comp orders. So can you talk more about how those stores are ramping up? What kind of benefit you're seeing? I think some of them have been open for six, nine months. So any color on the new stores would be helpful.

Question: Cristina Fernandez - Telsey Advisory Group - Analyst : Great, thank you.