Havertys Reports Operating Results for First Quarter 2023
Havertys Reports Operating Results for First Quarter 2023
ATLANTA, GA / ACCESSWIRE / May 2, 2023 / HAVERTYS (NYSE:HVT and HVT.A), today reported its operating results for the first quarter ended March 31, 2023.
佐治亞州亞特蘭大/ACCESSWIRE/2023年5月2日/哈弗蒂斯公司(紐約證券交易所代碼:HVT和HVT.A)今天公佈了截至2023年3月31日的第一季度的經營業績。
First quarter 2023 versus first quarter 2022:
2023年第一季度與2022年第一季度:
- Diluted earnings per common share ("EPS") of $0.74 versus $1.11.
- Consolidated sales decreased 5.9% to $224.8 million. Comparable-store sales decreased 6.7%.
- Gross profit margin increased to 59.1% from 59.0%.
- 稀釋後每股普通股收益(EPS)為0.74美元,而不是1.11美元。
- 合併銷售額下降5.9%,至2.248億美元。可比店銷售額下降了6.7%。
- 毛利率由59.0%增至59.1%。
Clarence H. Smith, chairman and CEO, said, "Our team delivered a strong quarter against difficult headwinds of shifts in consumer spending and persistent inflationary pressures. Sales reflect the reduction in traffic and written business that we have reported in recent quarters as our business transitioned from the pandemic's explosive pace to a more measured one. Our written business for the first quarter of 2023 compared to the "normal" pre-pandemic first quarter of 2019 was up 10.9% and written comp-store sales were up 6.9%.
董事長兼首席執行官克拉倫斯·H·史密斯表示:“面對消費者支出變化和持續的通脹壓力帶來的困難逆風,我們的團隊實現了強勁的季度業績。銷售額反映了最近幾個季度我們報告的流量和書面業務的減少,因為我們的業務從疫情的爆炸性增長過渡到更有節制的速度。與2019年大流行前的”正常“第一季度相比,我們2023年第一季度的書面業務增長了10.9%,書面商店銷售額增長了6.9%。
Our first quarter's average sales ticket was up over last year's and the sales generated by our free in-home design service exceeded 25% of total sales. We are receiving new products, which were delayed during the pandemic, addressing a key part of our merchandise plan. We remain disciplined in our pricing and protective of the gross profit margin gains we have steadily achieved. Operationally, our experienced leaders are focused on ensuring we are efficiently meeting our objectives.
我們第一季度的平均銷售額比去年有所上升,我們免費的室內設計服務產生的銷售額超過了總銷售額的25%。我們正在收到新產品,這些產品在大流行期間被推遲,解決了我們商品計劃的一個關鍵部分。我們在定價方面仍然遵守紀律,並保護我們穩步實現的毛利率增長。在運營方面,我們經驗豐富的領導者專注於確保我們有效地實現我們的目標。
Our financial strength allows us to capitalize during weak cycles, making investments and executing on our growth strategy with the addition of new stores and improving the shopping experience in-store and online. We are adapting and evolving to stay ahead and grow in a changing retail and economic landscape."
我們的財務實力使我們能夠在疲軟的週期中進行投資,並通過增加新店和改善店內和在線購物體驗來執行我們的增長戰略。我們正在適應和發展,以保持領先地位,並在不斷變化的零售和經濟格局中實現增長。“
Key Results
關鍵結果
(amounts in millions, except per share amounts)
(以百萬為單位,每股除外)
Results of Operations |
||||||
Three Months Ended March 31, | ||||||
2023 | 2022 | |||||
Sales |
$ | 224.8 | $ | 238.9 | ||
Gross Profit |
132.8 | 141.0 | ||||
Gross profit as a % of sales |
59.1% | 59.0% | ||||
SGA |
||||||
Variable |
44.9 | 44.4 | ||||
Fixed |
73.5 | 70.8 | ||||
Total |
118.4 | 115.2 | ||||
SGA as a % of sales |
||||||
Variable |
20.0% | 18.6% | ||||
Fixed |
32.7% | 29.6% | ||||
Total |
52.7% | 48.2% | ||||
Pre-tax income |
15.4 | 25.7 | ||||
Pre-tax income as a % of sales |
6.9% | 10.8% | ||||
Net income |
12.4 | 19.4 | ||||
Net income as a % of sales |
5.5% | 8.1% | ||||
Diluted earnings per share ("EPS") |
$ | 0.74 | $ | 1.11 |
經營成果 |
||||||
截至3月31日的三個月, | ||||||
2023年年 | 2022年 | |||||
銷售額 |
$ | 224.8 | $ | 238.9 | ||
毛利 |
132.8 | 141.0 | ||||
毛利潤佔銷售額的百分比 |
59.1% | 59.0% | ||||
SGA |
||||||
變量 |
44.9 | 44.4 | ||||
固定 |
73.5 | 70.8 | ||||
總計 |
118.4 | 115.2 | ||||
SGA佔銷售額的百分比 |
||||||
變量 |
20.0% | 18.6% | ||||
固定 |
32.7% | 29.6% | ||||
總計 |
52.7% | 48.2% | ||||
稅前收入 |
15.4 | 25.7 | ||||
稅前收入佔銷售額的百分比 |
6.9% | 10.8% | ||||
淨收入 |
12.4 | 19.4 | ||||
淨收益佔銷售額的百分比 |
5.5% | 8.1% | ||||
稀釋後每股收益(EPS) |
$ | 0.74 | $ | 1.11 |
Other Financial and Operations Data |
||||||
Three Months Ended March 31, | ||||||
2023 | 2022 | |||||
EBITDA (in millions)(1)
|
$ | 18.8 | $ | 29.9 | ||
Sales per square foot |
$ | 208 | $ | 222 | ||
Average ticket |
$ | 3,192 | $ | 3,066 |
其他財務和運營數據 |
||||||
截至3月31日的三個月, | ||||||
2023年年 | 2022年 | |||||
EBITDA(百萬美元)(1)
|
$ | 18.8 | $ | 29.9 | ||
每平方米英尺銷售額 |
$ | 208 | $ | 222 | ||
普通車票 |
$ | 3192 | $ | 3,066 |
Liquidity Measures |
||||||||||||||
Three Months Ended March 31, | Three Months Ended March 31, | |||||||||||||
Free Cash Flow |
2023 | 2022 | Cash Returns to Shareholders |
2023 | 2022 | |||||||||
Operating cash flow |
$ | 11.1 | $ | 20.6 | Share repurchases |
$ | - | $ | 12.5 | |||||
Dividends |
4.5 | 4.3 | ||||||||||||
Capital expenditures |
(6.7) | (7.1) | Cash returns to shareholders |
$ | 4.5 | $ | 16.8 | |||||||
Free cash flow |
$ | 4.4 | $ | 13.5 | ||||||||||
Cash at period end |
$ | 127.0 | $ | 169.1 |
流動性措施 |
||||||||||||||
截至3月31日的三個月, | 截至3月31日的三個月, | |||||||||||||
自由現金流 |
2023年年 | 2022年 | 向股東返還現金 |
2023年年 | 2022年 | |||||||||
營運現金流 |
$ | 11.1 | $ | 20.6 | 股份回購 |
$ | - | $ | 12.5 | |||||
分紅 |
4.5 | 4.3 | ||||||||||||
資本支出 |
(6.7) | (7.1) | 向股東返還現金 |
$ | 4.5 | $ | 16.8 | |||||||
自由現金流 |
$ | 4.4 | $ | 13.5 | ||||||||||
期末現金 |
$ | 127.0 | $ | 169.1 |
- See the reconciliation of the non-GAAP metrics at the end of the release.
- 請參閱版本末尾的非GAAP指標對賬。
First Quarter ended March 31, 2023 Compared to Same Period of 2022
截至2023年3月31日的第一季度與2022年同期相比
- Total sales down 5.9%, comp-store sales down 6.7% for the quarter. Total written sales were down 11.7% and written comp-store sales declined 12.7% for the quarter.
- Gross profit margins increased to 59.1% in 2023 from 59.0% in 2022.
- SG&A expenses were 52.7% of sales versus 48.2% and increased $3.2 million. The primary drivers of this change are:
- increase of $1.4 million in selling expenses due to the impact of rising interest rates on third-party credit costs partially offset by lower commissioned-based compensation expense.
- increase of $2.0 million in occupancy costs driven by higher maintenance and tax costs.
- increase in administrative expense of $1.3 million primarily from higher health insurance costs and professional services.
- decrease in warehouse and delivery costs of $1.4 million primarily from $0.9 million lower demurrage fees and a reduction in usage of temporary labor.
- 總銷售額下降了5.9%,連鎖店銷售額下降了6.7%。該季度總書面銷售額下降了11.7%,書面商店銷售額下降了12.7%。
- 毛利率從2022年的59.0%提高到2023年的59.1%。
- SG&A費用佔銷售額的52.7%,而銷售額為48.2%,增加了320萬美元。這一變化的主要驅動因素是:
- 由於利率上升對第三方信貸成本的影響,銷售費用增加140萬美元,部分被基於佣金的薪酬費用下降所抵消。
- 由於維護和稅收成本上升,佔用成本增加了200萬美元。
- 行政費用增加130萬美元,主要原因是醫療保險費和專業服務費用增加。
- 倉庫和交付費用減少140萬美元,主要是因為滯期費減少了90萬美元,以及臨時工的使用減少。
Balance Sheet and Cash Flow
資產負債表和現金流
- Cash, cash equivalents, and restricted cash equivalents at March 31, 2023 are $127.0 million.
- Generated $11.1 million in cash from operating activities primarily from solid earnings performance and changes in working capital including $15.0 million in vendor repayments and accrued liabilities, a decrease in inventories of $4.1 million, and an increase in other assets and liabilities of $5.7 million.
- Paid $4.5 million in quarterly cash dividends during the three months ended March 31, 2023.
- No debt outstanding at March 31, 2023 and credit availability of $80.0 million.
- 截至2023年3月31日的現金、現金等價物和限制性現金等價物為1.27億美元。
- 經營活動產生現金1110萬美元,主要來自穩健的收益表現和營運資金的變化,包括1500萬美元的供應商還款和應計負債,庫存減少410萬美元,以及其他資產和負債增加570萬美元。
- 在截至2023年3月31日的三個月中支付了450萬美元的季度現金股息。
- 截至2023年3月31日,沒有未償債務,信貸可獲得性為8000萬美元。
Expectations and Other
期望值和其他
- We expect gross profit margins for 2023 will be between 58.5% to 59.0%. Gross profit margins fluctuate quarter to quarter in relation to our promotional cadence. Our estimated gross profit margins are based on anticipated changes in product and freight costs and its impact on our LIFO reserve.
- Fixed and discretionary expenses within SG&A for the full year of 2023 are expected to be in the $289.0 to $292.0 million range, a reduction in our previous guidance related to advertising and warehouse and delivery costs. Variable SG&A expenses for the full year of 2023 are anticipated to be in the 19.5% to 19.7% range.
- Our effective tax rate for 2023 is expected to be 25% excluding the impact from the vesting of stock-based awards, potential tax credits, and any new tax legislation.
- Planned capital expenditures for 2023 have changed from our previous guidance and are approximately $53.1 million in 2023. We expect retail square footage will increase approximately 1.6% as we plan to open four stores and close one. Our capital expenditures estimate also includes the expected purchase of our Florida distribution center from our landlord in May for approximately $28.2 million.
- 我們預計2023年的毛利率將在58.5%至59.0%之間。毛利率因促銷節奏的不同而每季波動。我們預計的毛利率是基於產品和運費成本的預期變化及其對後進先出準備金的影響。
- 預計2023年全年SG&A內部的固定和可自由支配費用將在289.0美元至2.92億美元之間,這比我們之前與廣告、倉庫和交付成本相關的指導減少了。預計2023年全年的可變SG&A費用將在19.5%至19.7%之間。
- 我們2023年的有效稅率預計為25%,不包括基於股票的獎勵、潛在的稅收抵免和任何新稅收立法的影響。
- 2023年的計劃資本支出與我們之前的指導方針不同,2023年的資本支出約為5310萬美元。我們預計零售面積將增加約1.6%,因為我們計劃開設四家門店並關閉一家。我們的資本支出估計還包括預計在5月份從我們的房東手中以大約2820萬美元的價格購買我們的佛羅裡達配送中心。
HAVERTY FURNITURE COMPANIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
哈弗蒂傢俱公司。
簡明合併損益表
(未經審計)
Three Months Ended March 31, |
||||||
(In thousands, except per share data) |
2023 | 2022 | ||||
Net sales |
$ | 224,754 | $ | 238,946 | ||
Cost of goods sold |
91,969 | 97,985 | ||||
Gross profit |
132,785 | 140,961 | ||||
Expenses: |
||||||
Selling, general and administrative |
118,361 | 115,154 | ||||
Other (income) expense, net |
(4) | 161 | ||||
Total expenses |
118,357 | 115,315 | ||||
Income before interest and income taxes |
14,428 | 25,646 | ||||
Interest income, net |
1,010 | 74 | ||||
Income before income taxes |
15,438 | 25,720 | ||||
Income tax expense |
3,066 | 6,359 | ||||
Net income |
$ | 12,372 | $ | 19,361 | ||
Basic earnings per share: |
||||||
Common Stock |
$ | 0.77 | $ | 1.14 | ||
Class A Common Stock |
$ | 0.72 | $ | 1.08 | ||
Diluted earnings per share: |
||||||
Common Stock |
$ | 0.74 | $ | 1.11 | ||
Class A Common Stock |
$ | 0.71 | $ | 1.05 | ||
Cash dividends per share: |
||||||
Common Stock |
$ | 0.28 | $ | 0.25 | ||
Class A Common Stock |
$ | 0.26 | $ | 0.23 |
截至三個月 3月31日, |
||||||
(單位為千,每股數據除外) |
2023年年 | 2022年 | ||||
淨銷售額 |
$ | 224,754 | $ | 238,946 | ||
銷貨成本 |
91,969 | 97,985 | ||||
毛利 |
132,785 | 140,961 | ||||
費用: |
||||||
銷售、一般和行政 |
118,361 | 115,154 | ||||
其他(收入)費用,淨額 |
(4) | 161 | ||||
總費用 |
118,357 | 115,315 | ||||
息稅前收入 |
14,428 | 25,646 | ||||
利息收入,淨額 |
1,010 | 74 | ||||
所得稅前收入 |
15,438 | 25,720 | ||||
所得稅費用 |
3,066 | 6359 | ||||
淨收入 |
$ | 12,372 | $ | 19361 | ||
基本每股收益: |
||||||
普通股 |
$ | 0.77 | $ | 1.14 | ||
A類普通股 |
$ | 0.72 | $ | 1.08 | ||
稀釋後每股收益: |
||||||
普通股 |
$ | 0.74 | $ | 1.11 | ||
A類普通股 |
$ | 0.71 | $ | 1.05 | ||
每股現金股息: |
||||||
普通股 |
$ | 0.28 | $ | 0.25 | ||
A類普通股 |
$ | 0.26 | $ | 0.23 |
HAVERTY FURNITURE COMPANIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
哈弗蒂傢俱公司。
CONDENSED CONSOLIDATED BALANCE SHEETS
(未經審計)
(In thousands) |
March 31, 2023 |
December 31, 2022 |
March 31, 2022 |
|||||||
Assets |
||||||||||
Current assets |
||||||||||
Cash and cash equivalents |
$ | 120,170 | $ | 123,126 | $ | 162,340 | ||||
Restricted cash and cash equivalents |
6,876 | 6,804 | 6,715 | |||||||
Inventories |
114,254 | 118,333 | 119,857 | |||||||
Prepaid expenses |
11,430 | 9,707 | 10,633 | |||||||
Other current assets |
19,590 | 18,283 | 13,585 | |||||||
Total current assets |
272,320 | 276,253 | 313,130 | |||||||
Property and equipment, net |
139,212 | 137,475 | 128,721 | |||||||
Right-of-use lease assets |
207,673 | 207,390 | 221,083 | |||||||
Deferred income taxes |
16,332 | 15,501 | 18,252 | |||||||
Other assets |
12,878 | 12,430 | 12,699 | |||||||
Total assets |
$ | 648,415 | $ | 649,049 | $ | 693,885 | ||||
Liabilities and Stockholders' Equity |
||||||||||
Current liabilities |
||||||||||
Accounts payable |
$ | 15,632 | $ | 23,345 | $ | 32,415 | ||||
Customer deposits |
46,382 | 47,969 | 98,528 | |||||||
Accrued liabilities |
40,372 | 48,676 | 48,876 | |||||||
Current lease liabilities |
36,180 | 34,442 | 33,923 | |||||||
Total current liabilities |
138,566 | 154,432 | 213,742 | |||||||
Noncurrent lease liabilities |
185,866 | 186,845 | 197,265 | |||||||
Other liabilities |
27,571 | 18,373 | 22,478 | |||||||
Total liabilities |
352,003 | 359,650 | 433,485 | |||||||
Stockholders' equity |
296,412 | 289,399 | 260,400 | |||||||
Total liabilities and stockholders' equity |
$ | 648,415 | $ | 649,049 | $ | 693,885 |
(單位:千) |
3月31日, 2023年年 |
十二月三十一日, 2022年 |
3月31日, 2022年 |
|||||||
資產 |
||||||||||
流動資產 |
||||||||||
現金和現金等價物 |
$ | 120,170 | $ | 123,126 | $ | 162,340 | ||||
受限現金和現金等價物 |
6876 | 6,804 | 6715 | |||||||
盤存 |
114,254 | 118,333 | 119,857 | |||||||
預付費用 |
11,430 | 9707 | 10,633 | |||||||
其他流動資產 |
19590人 | 18,283 | 13,585 | |||||||
流動資產總額 |
272,320 | 276,253 | 313,130 | |||||||
財產和設備,淨額 |
139,212 | 137,475 | 128,721 | |||||||
使用權租賃資產 |
207,673 | 207,390 | 221,083 | |||||||
遞延所得稅 |
16,332 | 15,501 | 18,252 | |||||||
其他資產 |
12,878 | 12,430 | 12,699 | |||||||
總資產 |
$ | 648,415 | $ | 649,049 | $ | 693,885 | ||||
負債與股東權益 |
||||||||||
流動負債 |
||||||||||
應付帳款 |
$ | 15,632 | $ | 23,345 | $ | 32,415 | ||||
客戶存款 |
46,382 | 47,969 | 98,528 | |||||||
應計負債 |
40,372 | 48,676 | 48,876 | |||||||
流動租賃負債 |
36,180 | 34,442 | 33,923 | |||||||
流動負債總額 |
138,566 | 154,432 | 213,742 | |||||||
非流動租賃負債 |
185,866 | 186,845 | 197,265 | |||||||
其他負債 |
27,571 | 18,373 | 22,478 | |||||||
總負債 |
352,003 | 359,650 | 433,485 | |||||||
股東權益 |
296,412 | 289,399 | 260,400人 | |||||||
總負債和股東權益 |
$ | 648,415 | $ | 649,049 | $ | 693,885 |
HAVERTY FURNITURE COMPANIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
哈弗蒂傢俱公司。
簡明合併現金流量表
(未經審計)
(In thousands) |
Three Months Ended March 31, |
|||||
2023 | 2022 | |||||
Cash Flows from Operating Activities: |
||||||
Net income |
$ | 12,372 | $ | 19,361 | ||
Adjustments to reconcile net income to net cash provided by operating activities: |
||||||
Depreciation and amortization |
4,362 | 4,272 | ||||
Share-based compensation expense |
1,957 | 2,307 | ||||
Other |
(840) | (1,877) | ||||
Changes in operating assets and liabilities: |
||||||
Inventories |
4,079 | (7,826) | ||||
Customer deposits |
(1,587) | (369) | ||||
Other assets and liabilities |
5,721 | 1,120 | ||||
Accounts payable and accrued liabilities |
(14,990) | 3,590 | ||||
Net cash provided by operating activities |
11,074 | 20,578 | ||||
Cash Flows from Investing Activities: |
||||||
Capital expenditures |
(6,655) | (7,107) | ||||
Proceeds from sale of land, property and equipment |
13 | - | ||||
Net cash used in investing activities |
(6,642) | (7,107) | ||||
Cash Flows from Financing Activities: |
||||||
Dividends paid |
(4,528) | (4,260) | ||||
Common stock repurchased |
- | (12,501) | ||||
Other |
(2,788) | (517) | ||||
Net cash used in financing activities |
(7,316) | (17,278) | ||||
Decrease in cash, cash equivalents and restricted cash equivalents during the period |
(2,884) | (3,807) | ||||
Cash, cash equivalents and restricted cash equivalents at beginning of period |
129,930 | 172,862 | ||||
Cash, cash equivalents and restricted cash equivalents at end of period |
$ | 127,046 | $ | 169,055 |
(單位:千) |
截至三個月 3月31日, |
|||||
2023年年 | 2022年 | |||||
經營活動的現金流: |
||||||
淨收入 |
$ | 12,372 | $ | 19361 | ||
將淨收入與經營活動提供的現金淨額進行調整: |
||||||
折舊及攤銷 |
4362 | 4,272 | ||||
基於股份的薪酬費用 |
1957年 | 2,307 | ||||
其他 |
(840) | (1,877) | ||||
經營性資產和負債變動情況: |
||||||
盤存 |
4,079 | (7826) | ||||
客戶存款 |
(1,587) | (369) | ||||
其他資產和負債 |
5721 | 1120 | ||||
應付賬款和應計負債 |
(14,990) | 3590 | ||||
經營活動提供的淨現金 |
11,074 | 20,578 | ||||
投資活動產生的現金流: |
||||||
資本支出 |
(6655) | (7107) | ||||
出售土地、財產和設備所得收益 |
13個 | - | ||||
用於投資活動的現金淨額 |
(6642) | (7107) | ||||
融資活動的現金流: |
||||||
已支付的股息 |
(4528) | (4260) | ||||
回購普通股 |
- | (12,501) | ||||
其他 |
(2788) | (517) | ||||
用於融資活動的現金淨額 |
(7316) | (17278) | ||||
本期間現金、現金等價物和限制性現金等價物減少 |
(2,884) | (3807) | ||||
期初現金、現金等價物和限制性現金等價物 |
129,930 | 172,862 | ||||
期末現金、現金等價物和限制性現金等價物 |
$ | 127,046 | $ | 169,055 |
GAAP to Non-GAAP Reconciliation
GAAP到非GAAP的對賬
We report our financial results in accordance with accounting principles generally accepted in the United States ("GAAP"). We supplement the reporting of our financial information under GAAP with certain non-GAAP financial information. The non-GAAP information presented provides additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. We believe that EBITDA is a meaningful measure to share with investors.
我們根據美國公認的會計原則(“公認會計原則”)報告我們的財務結果。我們使用某些非GAAP財務資訊來補充GAAP下我們的財務資訊的報告。所提供的非GAAP資訊提供了額外的有用資訊,但不應孤立地考慮,也不應作為相關GAAP措施的替代品。我們相信,EBITDA是與投資者分享的一項有意義的措施。
Reconciliation of GAAP measures to EBITDA
GAAP衡量標準與EBITDA的對賬
Three Months Ended March 31, | ||||||
(in thousands) |
2023 | 2022 | ||||
Income before income taxes, as reported |
$ | 15,438 | $ | 25,720 | ||
Interest income, net |
(1,010) | (74) | ||||
Depreciation |
4,362 | 4,272 | ||||
EBITDA |
$ | 18,790 | $ | 29,918 |
截至3月31日的三個月, | ||||||
(單位:千) |
2023年年 | 2022年 | ||||
所得稅前收入,如所報告 |
$ | 15,438 | $ | 25,720 | ||
利息收入,淨額 |
(1,010) | (74) | ||||
折舊 |
4362 | 4,272 | ||||
EBITDA |
$ | 18,790 | $ | 29,918 |
Comparable Store Sales
可比門店銷售額
Comparable-store or "comp-store" sales is a measure which indicates the performance of our existing stores and website by comparing the sales growth for stores and online for a particular month over the corresponding month in the prior year. Stores are considered non-comparable if they were not open during the corresponding month or if the selling square footage has been changed significantly.
可比店或“對比店”銷售額是一種衡量標準,通過比較特定月份門店和在線銷售與上年同期相比的增長情況,來表明我們現有門店和網站的表現。如果商店在相應的月份沒有營業,或者如果銷售面積發生了顯著變化,則被認為是不可比較的。
Cost of Goods Sold and SG&A Expense
銷貨成本和銷售及銷售費用
We include substantially all our occupancy and home delivery costs in SG&A expense as well as a portion of our warehousing expenses. Accordingly, our gross profit may not be comparable to those entities that include these costs in cost of goods sold.
我們幾乎所有的入住費和送貨上門費用都包括在SG&A費用中,以及我們倉儲費用的一部分。因此,我們的毛利潤可能無法與那些將這些成本計入銷售商品成本的實體進行比較。
We classify our SG&A expenses as either variable or fixed and discretionary. Our variable expenses are comprised of selling and delivery costs. Selling expenses are primarily compensation and related benefits for our commission-based sales associates, the discount we pay for third party financing of customer sales and transaction fees for credit card usage. We do not outsource delivery, so these costs include personnel, fuel, and other expenses related to this function. Fixed and discretionary expenses are comprised of rent, depreciation and amortization and other occupancy costs for stores, warehouses and offices, and all advertising and administrative costs.
我們將SG&A費用分類為可變費用或固定費用和可自由支配費用。我們的可變費用包括銷售和交付成本。銷售費用主要是我們基於佣金的銷售人員的薪酬和相關福利,我們為客戶銷售支付的第三方融資的折扣,以及信用卡使用的交易費。我們不外包送貨,因此這些成本包括人員、燃料和與此職能相關的其他費用。固定和可自由支配費用包括租金、折舊和攤銷以及商店、倉庫和辦公室的其他佔用費用,以及所有廣告和行政費用。
Conference Call Information
電話會議資訊
The company invites interested parties to listen to the live webcast of the conference call on May 3, 2023 at 10:00 a.m. ET at its website, ir.havertys.com. If you cannot listen live, a replay will be available on the day of the conference call at the website at approximately 1:00 p.m. ET.
該公司邀請感興趣的各方在2023年5月3日上午10:00收聽電話會議的網路直播。ET在其網站ir.havertys.com上。如果您無法現場收聽,將在電話會議當天下午1點左右在網站上重播。Et.
About Havertys
關於哈弗蒂
Havertys (NYSE:HVT and HVT.A), established in 1885, is a full-service home furnishings retailer with 123 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 havertys.com.
哈弗蒂斯(紐約證券交易所代碼:HVT和HVT.A)成立於1885年,是一家提供全方位服務的家居用品零售商,在南部和中西部地區的16個州擁有123個展廳,為客戶提供從中檔到中檔價位的廣泛優質商品選擇。欲瞭解更多資訊,請訪問公司網站havertys.com。
Safe Harbor
安全港
This press release contains, and the conference call may contain forward-looking statements subject to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. These forward-looking statements are subject to risks and uncertainties and change based on various important factors, many of which are beyond our control.
本新聞稿包含前瞻性陳述,電話會議可能包含符合1933年證券法第27A節和1934年證券法第21E節安全港條款的前瞻性陳述。這些前瞻性陳述會受到風險和不確定因素的影響,並會根據各種重要因素髮生變化,其中許多因素是我們無法控制的。
All statements in the future tense and all statements accompanied by words such as "expect," "likely," "outlook," "forecast," "preliminary," "would," "could," "should," "position," "will," "project," "intend," "plan," "on track," "anticipate," "to come," "may," "possible," "assume," and variations of such words and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, our expectations for retail and operating margins, selling square footage and capital expenditures for 2023, our liquidity position to continue to fund our growth plans, and our efforts and initiatives to execute our strategic plan.
所有未來時態的陳述,以及伴隨以下詞語的所有陳述:“預期”、“可能”、“展望”、“預測”、“初步”、“將會”、“可能”、“應該”、“位置”、“將會”、“專案”、“打算”、“計劃”、“在軌道上”、“預期”、“將會到來”、“可能”、“可能”、“假設”,“這些詞語和類似表達的變體旨在識別這種前瞻性陳述。這些前瞻性陳述包括但不限於我們對零售和運營利潤率的預期、2023年銷售面積和資本支出的預期、我們繼續為我們的增長計劃提供資金的流動性狀況,以及我們為執行我們的戰略計劃所做的努力和舉措。
We caution that our forward-looking statements involve risks and uncertainties, and while we believe that our expectations for the future are reasonable in view of currently available information you are cautioned not to place undue reliance on our forward-looking statements, and they should not be relied upon as a prediction of actual results. Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements include, but are not limited to: disruptions in our suppliers' operations; changes in national and international legislation or government regulations or policies, including changes to import tariffs and the unpredictability of such changes; failure of vendors to meet our quality control standards or to react to changes in legislative or regulatory frameworks; disruptions in our distribution centers; changes in general economic conditions, including unemployment, inflation (including the impact of tariffs); labor shortages and the Company's ability to successfully attract and retain employees in the current labor market; uncertain credit markets and other macroeconomic conditions; competitive product, service and pricing pressures; failure or weakness in our disclosure controls and procedures and internal controls over financial reporting; disruptions caused by a failure or breach of the Company's information systems and information technology infrastructure, as well as other risks and uncertainties discussed in the Company's Annual Report on Form 10-K for 2022 and from time to time in the Company's subsequent filings with the SEC.
我們提醒,我們的前瞻性陳述包含風險和不確定因素,雖然我們認為,根據現有資訊,我們對未來的預期是合理的,但我們告誡您不要過度依賴我們的前瞻性陳述,不應將其作為對實際結果的預測。可能導致實際結果與任何前瞻性陳述中明示或暗示的結果大不相同的因素包括但不限於:我們供應商的運營中斷;國家和國際立法或政府法規或政策的變化,包括進口關稅的變化以及此類變化的不可預測性;供應商未能達到我們的質量控制標準或對立法或監管框架的變化做出反應;我們的配送中心中斷;總體經濟狀況的變化,包括失業、通貨膨脹(包括關稅的影響);勞動力短缺以及公司在當前勞動力市場成功吸引和留住員工的能力;不確定的信貸市場和其他宏觀經濟狀況;這些風險和不確定性包括:競爭的產品、服務和定價壓力;我們對財務報告的披露控制和程式以及內部控制的失敗或薄弱;公司資訊系統和資訊技術基礎設施的故障或破壞造成的中斷;以及公司在提交給美國證券交易委員會的2022年10-K表格年度報告和公司不時提交給美國證券交易委員會的報告中提到的其他風險和不確定性。
Forward-looking statements describe our expectations only as of the date they are made, and the Company undertakes no duty to update its forward-looking statements except as required by law. You are advised, however, to review any further disclosures we make on related subjects in our subsequent Forms 10-K, 10-Q, 8-K, and other reports filed with the SEC.
前瞻性陳述僅描述了我們的預期,除非法律要求,否則公司不承擔更新其前瞻性陳述的責任。然而,建議您查看我們在隨後提交給美國證券交易委員會的10-K、10-Q、8-K表格和其他報告中就相關主題所做的任何進一步披露。
Contact:
聯繫方式:
Havertys 404-443-2900
Jenny Hill Parker
SVP, Finance, and Corporate Secretary
哈弗蒂斯電話:404-443-2900
珍妮·希爾·帕克
高級副總裁、財務和企業祕書
SOURCE: Havertys
資料來源:哈弗蒂斯
譯文內容由第三人軟體翻譯。