1. A regional Pottery Barn for furniture and home goods.

2. An Ethan Allen for the Southern and Midwestern U.S.

• Residential Furniture: Haverty Furniture offers a wide array of residential furniture, including custom upholstery products and diverse stylistic looks under its Havertys brand.
• Home Accessories: The company provides various accessories designed to complement and decorate residential spaces.
• Mattresses: Haverty Furniture sells a selection of mattresses from well-known national brands such as Sealy, Tempur-Pedic, and Serta, as well as its private label Skye.

Haverty Furniture Companies (HVT) sells primarily to individual consumers rather than other companies. Based on the description of its operations as a specialty retailer of residential furniture and accessories sold through its retail stores and website, its major customers are individuals furnishing their homes.

The categories of customers that Haverty Furniture Companies serves include:

1. New Homeowners/Renters: Individuals or families who have recently moved into a new residence and require furniture for multiple rooms or an entire home.
2. Existing Homeowners/Renters for Replacements or Updates: Individuals or families looking to replace old or worn-out furniture, redecorate a specific room, or update their home's aesthetic.
3. Discerning Shoppers for Specialty Items: Customers specifically seeking custom upholstery products, eclectic looks, or high-end mattress brands, emphasizing design, quality, or advanced comfort features.

• Tempur Sealy International, Inc. (TPX)
• Serta Simmons Bedding, LLC

Steven G. Burdette President and Chief Executive Officer

Steven G. Burdette assumed the role of President and Chief Executive Officer of Haverty Furniture Companies, Inc. on January 1, 2025. He was appointed President in 2021. Mr. Burdette began his career with Havertys in 1983 as a manager trainee in Tampa. He has held responsibilities for various aspects of the business, including store management, distribution, operations, merchandising, and marketing. Prior to his appointment as President, he served as executive vice president, stores in 2008 and executive vice president, operations in 2017.

Richard B. Hare Executive Vice President, Chief Financial Officer, and Corporate Secretary

Richard B. Hare serves as the Executive Vice President, Chief Financial Officer, and Corporate Secretary of Haverty Furniture Companies, Inc. He joined the company as Executive Vice President and Chief Financial Officer on May 4, 2017, and added Corporate Secretary responsibilities in 2024. Before joining Havertys, Mr. Hare was the Senior Vice President, Finance, Treasurer, and Chief Financial Officer of Carmike Cinemas, Inc., a company that was acquired in December 2016. His past experience also includes roles as Chief Accounting Officer and Controller for Greenfuels Holding Company, LLC, Assistant Treasurer for Sanmina-SCI Corporation, and Treasurer and Assistant Treasurer for Wolverine Tube, Inc. He began his career in audit practice at Coopers & Lybrand. Mr. Hare has been an Independent Director of Gray Television, Inc. since 2016.

Clarence H. Smith Executive Chairman

Clarence H. Smith transitioned to Executive Chairman of Havertys in January 2025, after serving as CEO since 2003 and President from 2002 to 2021. Mr. Smith started his career at Havertys in 1973 as a manager trainee and has held numerous positions at the store, operational, and corporate levels. He was elected to the board of directors in 1989 and named Chairman in 2012. He previously served on the board of directors of Oxford Industries, Inc. from 2003 until 2024.

John Linwood Gill Executive Vice President, Merchandising

John Linwood Gill is the Executive Vice President, Merchandising at Haverty Furniture Companies, Inc. He previously held the title of Senior Vice President Merchandising.

Helen Berry Bautista Senior Vice President, Marketing and Digital

Helen Berry Bautista serves as the Senior Vice President, Marketing and Digital for Haverty Furniture Companies, Inc.

The key risks to Haverty Furniture Companies (HVT) are primarily driven by economic factors, intense market competition, and supply chain vulnerabilities.

1. Economic Downturns and Consumer Spending: As a specialty retailer of residential furniture and accessories, Haverty Furniture Companies is highly susceptible to overall economic conditions and consumer spending habits. Economic fluctuations, recessions, high interest rates, and a weakening housing market directly reduce the demand for discretionary items like furniture, impacting sales and profitability. The housing market, in particular, has been cited at 30-year lows, affecting sales.
2. Intense Competition: The home furnishings market is highly fragmented and intensely competitive. Haverty Furniture Companies faces significant competition from a diverse group of retailers, including large national chains, regional and independent specialty stores, internet-only retailers (such as Wayfair), and dedicated franchises of furniture manufacturers. This intense competition can lead to market share loss, increased marketing and promotional expenditures, and pressure on gross margins.
3. Supply Chain Disruptions and Tariffs: The company's dependence on global suppliers, particularly for various merchandise, exposes it to risks related to supply chain disruptions, material shortages, shipping delays, and geopolitical factors. Specifically, tariff uncertainties have been highlighted as impacting supply chain and pricing strategies.

The addressable markets for Haverty Furniture Companies' main products and services in the United States are as follows:

• Residential Furniture and Accessories: The U.S. furniture market size was estimated at USD 172.33 billion in 2024. Another estimate placed the United States furniture market size at USD 195.7 billion in 2025. The residential segment constitutes a significant portion of this market, accounting for 60.33% of the revenue share in 2024 and 68% in 2025. The U.S. market is projected to reach USD 145.79 billion by 2026.
• Mattress Product Lines: The U.S. mattress market had a projected value of USD 11.57 billion for 2024 and was estimated at USD 11.03 billion in 2025. It is expected to grow to USD 18.77 billion in 2026 and is projected to reach USD 17.49 billion by 2033, growing at a CAGR of 5.96% from 2026 to 2033. Residential buyers represented 68.84% of the United States mattress market size in 2025.
• Custom Upholstery Products: The U.S. upholstered furniture market is valued at USD 22.25 billion in 2026 and is expected to grow at a CAGR of 5.18% to reach USD 28.63 billion by 2031. North America, which includes the U.S., holds a dominant share in the global upholstered furniture market.

Haverty Furniture Companies (HVT) is expected to drive future revenue growth over the next 2-3 years through several strategic initiatives focused on expanding its market presence, enhancing customer engagement, and optimizing its product offerings.

1. Strategic Store Openings and Expansion to New Markets: Haverty's plans to expand its physical footprint by opening an average of five new stores per year. The company is strategically targeting former 'big box' retail sites for these new locations, typically ranging from 15,000 to 60,000 square feet. This expansion includes re-entering markets, such as Houston, Texas, in 2024, and entering entirely new states like Pennsylvania in 2026 with an opening in North Pittsburgh. Haverty's has already secured leases for additional new store openings projected for 2026, demonstrating a forward-looking approach to growth.

2. Growth of the Design Business and In-Home Design Services: The company is focused on enhancing customer engagement through its design business and in-home design services, which have proven to be significant growth drivers. This segment accounted for 33.4% of written business in Q2 2025 and 33.3% of total sales in Q4 2025, with strong average ticket growth.

3. New Product Launches and Enhanced Product Assortment: Haverty's anticipates revenue growth from an exciting lineup of new products and an enhanced product assortment. The company is actively refreshing its mattress and design centers, which have shown positive results in test locations, contributing to its overall growth strategy.

4. Targeted Marketing Campaigns and Customer-Centric Strategy: A customer-centric strategy coupled with targeted marketing efforts is expected to attract more foot traffic and increase average transaction values. These initiatives have already demonstrated success, contributing to growth in both written and delivered sales in recent quarters.

Share Repurchases

• Haverty Furniture Companies purchased $4.8 million of common stock, representing 216,482 shares, during the calendar year 2025.
• On February 20, 2026, the Board of Directors approved an additional $15 million authorization for the Company's stock repurchase program.
• As of February 24, 2026, approximately $18.3 million remained under the existing authorization for share repurchases.

Capital Expenditures

• Capital expenditures for the calendar year 2025 totaled $19.7 million.
• Planned capital expenditures for 2026 are approximately $33.5 million, marking an increase over 2025 due to planned store growth.
• The 2026 capital expenditure budget is allocated to support five new store openings, four remodels, refreshing mattress/design areas in about 35% of stores, investments in the distribution network ($3.2 million), and information technology ($3.1 million).