(AP) ATLANTA
Home furnishings retailer Haverty Furniture Cos. said Wednesday second-quarter profit surged, driven by improved sales and inventory management.


Quarterly net income grew to $3.6 million, or 16 cents per share, from $1.3 million, or 6 cents per share. Sales grew to $211 million from $192.4 million.

Wall Street forecast profit of 14 cents per share on sales of $208.7 million, according to an analyst poll by Thomson Financial.

During the quarter, Haverty was able to better manage the flow of imported merchandise with its recently expanded distribution center, President and Chief Executive Clarence H. Smith said. That helped shorten the time for filling orders.

Quarterly revenue also benefited from higher average ticket sales generated from sales events and longer promotions featuring no down payments.

Haverty Furniture shares fell 54 cents, or 3.5 percent, to close at $14.98 on the New York Stock Exchange. Shares have traded between $11.53 and $16.93 over the past 52 weeks.