Haverty June same-store sales drop 26.2 percent

Haverty Furniture Cos. Inc. said Tuesday its June same-store sales fell 26.2 percent, and that second-quarter sales missed Wall Street analysts' estimates.

Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it measures growth at existing stores rather than newly opened ones.

Total sales for the month fell 24 percent to $52.9 million from $69.4 million in the prior-year period.

For the second quarter, total sales dropped 10 percent to $168.4 million from $187.1 million in the second quarter of 2007.

Analysts polled by Thomson Financial expected revenue of $175.6 million.

Same-store sales in the quarter dropped 12.7 percent.

The company said sales so far in July have been weak with total written sales down about 6 percent.