Our November sales results were not out of line with our expectations given the housing weakness in many of our markets and mortgage financing concerns.
Clarence H. Smith, President and CEO, Havertys

Evidence of continued weakness in the retail furniture market continued today as Havertys reported November same store sales dropped 10.7% from November 2006. Sales for the eleven months of 2007 have decreased 9.1% to $713.8 million compared with $785.2 million in 2006. Havertys operates 123 showrooms in 17 states in the Southern and Midwestern regions.

Clarence H. Smith, president and chief executive officer, said, "Our November sales results were not out of line with our expectations given the housing weakness in many of our markets and mortgage financing concerns. These and other factors continue to cause a challenging environment for retail sales of home furnishings."

Harley Greenfield, Chief Executive Officer of Jennifer Convertables said recently, "Our industry has been under extreme pressure for some time, which has impacted our comparable store sales numbers." Despite industry-wide struggles, Jennifer reported a slight increase in revenue over the summer.

On the flipside, Wal-Mart today reported a 4.8% increase in same store sales over November, 2006. Deep discounts on electronics that began well in advance of the traditional holiday sopping season contributed to Wal-Mart's gain.

Wal-Mart expects December same store sales to be up 1-3%.