Haverty Furniture: Rises on restored dividend, resumption of share buybacks
11/08/2020 17:32
** Home-furnishing retailer's shares HVT.N rise 8.1% to
$17.52 - set for their best day in three months
** On Monday, co raises after-market dividend by 25%,
restoring it to Q1 payout, as sales rebounded in the last two
months of Q2
** Shares on course to extend their four-day winning run
** HVT also says board approves resumption of stock buyback
which was halted in March urn:newsml:reuters.com:*:nGNX3Hm5Yp
** Inventory position in certain products could be stressed
during the coming months as availability lags demand - HVT
** "People are sitting at home, watching what's going on in
their own home, and they want to spend it there, and they're
probably not being able to spend it elsewhere" - CEO Clarence
Smith on conference call
** Q2 profit more than doubled as it had furloughed more
than 3,000 employees and cut advertising spend amidst the
coronavirus pandemic
** Stock down 13% this year
(Reporting by Praveen Paramasivam in Bengaluru)
((Praveen.Paramasivam@thomsonreuters.com; within U.S. +1 646
223 8780 (Extn. 3478), outside U.S. +91 80 6182 3478;))