HAVERTY FURNITURE COMPANIES INC
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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FY2023 · Filed Mar 7, 2024
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Item 2. Properties
Stores
Our retail store space at December 31, 2023 totaled approximately 4.4 million square feet for 124 stores. The following table sets forth the number of stores we operated at December 31, 2023 by state:
| State | Number of Stores | State | Number of Stores |
|---|---|---|---|
| Florida | 30 | Maryland | 4 |
| Texas | 21 | Arkansas | 3 |
| Georgia | 15 | Louisiana | 3 |
| North Carolina | 10 | Ohio | 3 |
| Virginia | 10 | Kentucky | 2 |
| South Carolina | 7 | Missouri | 2 |
| Alabama | 6 | Indiana | 1 |
| Tennessee | 6 | Kansas | 1 |
The 39 retail locations which we owned at December 31, 2023 had a net book value for land and buildings of $65.0 million. The remaining 85 locations are leased by us with various termination dates through 2035 plus renewal options.
Distribution Facilities
All of our distribution facilities at December 31, 2023 were leased except for the Florida and Virginia properties. Our regional distribution facilities are in the following locations:
| Location | Approximate Square Footage |
|---|---|
| Braselton, Georgia | 808,000 |
| Coppell, Texas | 409,000 |
| Lakeland, Florida | 335,000 |
| Colonial Heights, Virginia | 129,000 |
| Fairfield, Ohio | 72,000 |
| Theodore, Alabama | 42,000 |
| Memphis, Tennessee | 30,000 |
Corporate Facilities
We lease approximately 48,000 square feet on two floors of a suburban mid-rise office building located at 780 Johnson Ferry Road, Suite 800, Atlanta, Georgia.
We believe that our facilities are suitable and adequate for present purposes, and that the productive capacity in such facilities is substantially being utilized. For additional information, see “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in this report under Item 7 of Part II.
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