Haverty Furniture Sales Fall in 4Q

Atlanta Haverty Furniture Cos. said Thursday its fourth-quarter sales fell 21.3% on weak demand.

The home-furnishings retailer said sales for the last three months of 2008 slid to $161.9 million from $205.8 in the year-earlier period.

Same-store sales in the fourth quarter fell 22.6%.

Sales for the full year totaled $691.2 million, down 11.9% from $784.6 million in 2007. Same-store sales for the year fell 14.3%.

A spokesman said Haverty's balance sheet remains strong with no term debt and no borrowings under its new revolving credit line.

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