Haverty furniture companies inc hvt
Download
1 / 25

Haverty Furniture companies, inc. (HVT) - PowerPoint PPT Presentation


  • 63 Views
  • Uploaded on

Haverty Furniture companies, inc. (HVT). Shao- Lun Lu, Ying Jiang, Jiazi Cui Presented: May 1, 2014. Agenda. 1. Company Overview 2. Relevant Macroeconomic Trends 3. Industry Structure Analysis 4. Financial Analysis 5. Projections/Assumptions 6. Valuation 7. Recommendation.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' Haverty Furniture companies, inc. (HVT)' - annona


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
Haverty furniture companies inc hvt
Haverty Furniture companies, inc. (HVT)

Shao-Lun Lu,

Ying Jiang,

Jiazi Cui

Presented: May 1, 2014


Agenda
Agenda

  • 1. Company Overview

  • 2. Relevant Macroeconomic Trends

  • 3. Industry Structure Analysis

  • 4. Financial Analysis

  • 5. Projections/Assumptions

  • 6. Valuation

  • 7. Recommendation


Company overview
Company Overview

  • Incorporated in Atlanta in 1885.

  • 3266 employees.

  • Market Cap : 750 million.

  • Business: residential furniture and accessories.

  • Customers: college educated women in middle to upper-middle income households.

  • Positioning: fashion and middle to upper-middle price ranges.

  • Channel: retail store and internet.

  • Marketing:

  • - Internet and Social Media.

  • - Bright inspiration (2010-2015).

Source: HVT 10-K report & FOURTH QUARTER AND YEAR 2013 report


Products
Products

Bed Room

Dining Room

Living Room


Hvt distribution system
HVT Distribution System

119 stores serving 80 cities in 16 states with approximately 4.3 million retail square feet.

Source: HVT 10k.


Management infomation
Management Infomation

Source: Bloomberg


Industry overview
Industry Overview

Source: Bloomberg


Industry overview1
Industry Overview

  • U.S. furniture & floor coverings market value

Source: MarketLine Industry Profile Furniture & Floor Coverings in the United States


Industry Overview

Source: Bloomberg




Stock performance
Stock Performance

Source: Yahoo Finance


Financial analysis
Financial Analysis

  • Revenue Growth Rate keep growing

  • Sales for 2011 were virtually flat with 2010

  • FY 2012, the number of stores increased

Source: HAVERTY FURNITURE COMPANIES, INC.2013 10-K,. 2012 10-k, 2011 10-k2010 10-K, 2009 10-lBloomberg


Financial analysis1
Financial Analysis

Source: HAVERTY FURNITURE COMPANIES, INC.2013 10-K,. 2012 10-k, 2011 10-k2010 10-K, 2009 10-lBloomberg


Financial analysis2
Financial Analysis

Source: HAVERTY FURNITURE COMPANIES, INC.2013 10-K,. 2012 10-k, 2011 10-k2010 10-K, 2009 10-lBloomberg


Financial analysis3
Financial Analysis

Source: HAVERTY FURNITURE COMPANIES, INC.2013 10-K,. 2012 10-k, 2011 10-k2010 10-K, 2009 10-lBloomberg


Comparable
Comparable

Source: HAVERTY FURNITURE COMPANIES, INC.2013 10-K,.. Bloomberg


Comparable1
Comparable

Source: HAVERTY FURNITURE COMPANIES, INC.2013 10-K,. 2012 10-k, 2011 10-k2010 10-K, 2009 10-lBloomberg


Comparable2
Comparable

Source: HAVERTY FURNITURE COMPANIES, INC.2013 10-K,. 2012 10-k, 2011 10-k2010 10-K, 2009 10-lBloomberg


Revenue forecast
Revenue Forecast

Source: Havertty Inc. 2013 10-K,


Cost of capital
Cost of Capital

Source: HavertyInc. 2013 10-K, Bloomberg


Valuation dcf
Valuation-DCF

Source: Haverty Inc. 2013 10-K, Haverty Inc. 2010 10-K



Implied share price
Implied Share Price

Current Stock Price: $25.54


Recommendation
Recommendation

Watch List


ad