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Haverty Furniture Companies: Undercovered And Undervalued

Monday, June 15, 2015   (0 Comments)
Posted by: Elizabeth Nicholas

Haverty Furniture Companies: Undercovered And Undervalued - Seeking Alpha

June 10, 2015

Macro Environment

The greater economic climate signals opportunity for a near-premium furniture retailer like HVT. U.S. home improvement and furnishing industry sales are forecast to increase 5.7% through this year and continue growing at mid single digits through 2019 - led by the "Consumer Market" category.

"With continued strong employment growth, a pick-up in wage growth, and the consumer dividend from lower gasoline prices, we expect the pace of home improvement product sales growth to accelerate in 2015" - Home Improvement Research Institute

Unsurprisingly, industry sales are highly correlated to new and existing home sales which, as seen below, are also expected to accelerate through 2016 after a pause last year.

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