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EXHIBIT 99.1 Havertys Reports Second Quarter 2021 Results Atlanta , Georgia , July 27 , 2021 - HAVERTYS ( NYSE : HVT and HVT.A ) , today reported its operating results for the second quarter ended June 30 , 2021 . Second quarter 2021 versus second quarter 2020 : Diluted earnings per common share ( " EPS " ) of $ 1.21 versus $ 0.72 . Adjusted EPS of ( $ 0.52 ) in 2020 excludes $ 1.24 for gain on sale - leaseback . In 2020 , due to COVID - 19 , we closed our stores on March 19 and 103 stores reopened on May 1 and the remaining 17 by June 20. Deliveries were halted on March 21 and restarted on May 5 with less capacity . Consolidated sales increased to $ 250.0 million for 2021 compared with $ 110.0 million for 2020 . Comparable store sales increased 46.9 % . Clarence H. Smith , chairman and CEO , said , " As we pass the anniversary of the reopening of our stores , I want to thank all the Havertys team members for their remarkable resiliency , dedication , and hard work . Their collective efforts have contributed to our exceptional results since we reopened last May . " Sales for the second quarter were outstanding and we made some progress on reducing our backlog . Customers are showing a stronger inclination towards purchases of in - stock merchandise as " pandemic patience " seems to be waning . We have seen this in our upholstery business as the lead times for custom merchandise has grown significantly and sales have shifted from custom order items to inline merchandise . Sales in the mattress category also increased this quarter as availability of product improved . " Our merchandising and supply - chain teams have done a tremendous job in adapting to the current environment of product shortages , price increases , manufacturing delays , freight increases , and mercurial cargo shipping . We were able to achieve gross profit margins of 56.6 % in the second quarter despite these challenges . " Many of the changes we made last year have allowed us to lower expenses and improve our operating leverage . We are keen to maintain this level and are closely managing expenses . Our strong cash position provides us flexibility to take advantage of opportunities and advance our strategic goals . " We believe that the resurgence of the importance of the home is not a short - lived trend . Home sales have seen rapid growth and inventory shortages , driven by low interest rates and millennials joining older homeownership cohorts . These factors and the general economic health of our target customer and our geographic locations provide favorable tailwinds for the future . "