Havertys names Brendan McGill as new Senior Vice President

ATLANTA - Haverty Furniture Companies, Inc. (NYSE:HVT)(NYSE:HVT.A), known for its wide selection of quality home furnishings and its impressive 60.74% gross profit margin, today announced a change in its executive team with the appointment of Brendan McGill as Senior Vice President, General Counsel, effective April 1, 2025. McGill will be succeeding Janet E. Taylor, who is retiring after a 20-year tenure with the company. The furniture retailer, currently valued at $357 million by market capitalization, maintains a healthy financial position with a current ratio of 1.82, according to InvestingPro data.

McGill brings a wealth of legal and corporate governance experience to Havertys, having previously served as Senior Managing Director, Corporate Legal at Greystar Real Estate Partners, LLC. His career also includes roles as Chief Legal Officer at Sylvan Road Capital, LLC, and senior leadership positions at Invesco Ltd. McGill’s legal expertise extends through his time at Mohawk Industries, Inc. and Alston & Bird LLP. He holds a Juris Doctor from the University of Virginia School of Law and a Bachelor of Arts in Political Science from Duke University.

Steven G. Burdette, President and Chief Executive Officer of Havertys, expressed confidence in McGill’s ability to contribute to the company’s growth strategy, citing his "deep expertise in corporate governance, M&A, regulatory compliance, and global investment management."

Janet E. Taylor, the outgoing Senior Vice President, General Counsel, was recognized for her contributions to Havertys. During her career with the company, she was instrumental in guiding through significant transactions and strategic initiatives. Taylor’s legal career includes a 12-year stint at King & Spalding, where she was part of the Mergers & Acquisitions Practice Group.

Havertys, established in 1885, operates 130 showrooms across 17 states in the Southern and Midwestern regions of the United States. The company offers a range of home furnishings in the middle to upper-middle price ranges. With annual revenue of $722.9 million and a notable track record of 51 consecutive years of dividend payments, currently yielding 5.87%, Havertys demonstrates strong shareholder commitment. InvestingPro analysis reveals 8 additional key insights about the company’s financial health and market position. This executive transition is part of Havertys’ ongoing strategy to maintain its market position and pursue growth opportunities.

The information in this article is based on a press release statement from Haverty Furniture Companies, Inc.

In other recent news, Haverty Furniture Companies Inc. reported its fourth-quarter 2024 financial results, surpassing earnings expectations with an EPS of $0.49, significantly higher than the forecast of $0.23. The company, however, experienced a slight revenue miss, reporting $184.4 million against an expected $185.39 million, amid a challenging market environment. Despite the revenue shortfall, Haverty Furniture maintained strong gross margins of 61.9% for the quarter, highlighting its operational efficiency. The company ended the year with $120 million in cash and no funded debt, which positions it well for future growth and expansion. Haverty Furniture plans to open five new stores in 2025, including an expansion in the Houston market. Analyst notes from firms like Sidoti and Co. and Telsey Adversity Group were discussed during the earnings call, although no specific upgrades or downgrades were mentioned. The company is also addressing potential challenges such as tariffs from China, Canada, and Mexico, which could impact costs. Despite these challenges, Haverty Furniture remains focused on strategic growth initiatives and maintaining its strong market position.

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