<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 10-K/A
AMENDMENT NO. 1 TO
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
FOR THE FISCAL YEAR ENDED DECEMBER 31, 1998
COMMISSION FILE NUMBER: 0-8498
HAVERTY FURNITURE COMPANIES, INC.
(Exact name of registrant as specified in its charter)
MARYLAND 58-0281900
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
866 WEST PEACHTREE STREET, N.W., ATLANTA, GEORGIA 30308
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (404) 881-1911
Securities registered pursuant to Section 12(b) of the Act:
TITLE OF EACH CLASS NAME OF EACH EXCHANGE ON WHICH REGISTERED
------------------- -----------------------------------------
NONE NONE
Securities registered pursuant to Section 12(g) of the Act:
COMMON STOCK ($1.00 PAR VALUE), CLASS A COMMON STOCK ($1.00 PAR VALUE)
(Title of class)
<PAGE>
The undersigned Registrant hereby amends the following items, financial
statements, exhibits or other portions of its Annual Report on Form 10-K for the
year ending December 31, 1998 as set forth below:
Part IV, Item 14(a)(3).
Exhibits.
Exhibit 99. The information required by Form 11-K with respect to
the Haverty Furniture Companies, Inc. Thrift Plan (the "Plan"),
which exhibit is filed as part of the above-referenced Form 10-K
in lieu of a separate filing of an annual report on Form 11-K for
the Plan for the fiscal year ended December 31, 1998 in accordance
with Rule 15d-21.
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this amendment to be signed on its behalf by the
undersigned thereunto duly authorized.
HAVERTY FURNITURE COMPANIES, INC.
By: /s/ Dennis L. Fink
-----------------------------
Dennis L. Fink
Executive Vice President and
Chief Financial Officer
(principal financial officer)
Date: June 29, 1999
<PAGE>
EXHIBIT 99
Information required by Form 11-K with respect to the Haverty Furniture
Companies, Inc. Thrift Plan For the Fiscal Year Ended December 31, 1998
(a) The following financial statements are furnished for the
above-referenced Plan:
Report of Independent Auditors;
Statements of Net Assets Available for Benefits December 31, 1998
and 1997;
Statements of Changes in Net Assets Available for Benefits for
the Years Ended December 31, 1998 and 1997;
Notes to Financial Statements;
Schedule I -- Line 27a - Schedule of Assets Held for Investment
Purposes; and Schedule II -- Line 27d - Schedule of Reportable
Transactions;
(b) Exhibits:
Consent of Independent Auditors
<PAGE>
Audited Financial Statements
and Supplemental Schedules
Haverty Furniture Companies, Inc.
Thrift Plan
YEARS ENDED DECEMBER 31, 1998 AND 1997
WITH REPORT OF INDEPENDENT AUDITORS
<PAGE>
Haverty Furniture Companies, Inc.
Thrift Plan
Audited Financial Statements
and Supplemental Schedules
Years ended December 31, 1998 and 1997
CONTENTS
<TABLE>
<S> <C>
Report of Independent Auditors..........................................1
Audited Financial Statements
Statements of Net Assets Available for Benefits.........................2
Statements of Changes in Net Assets Available for Benefits..............3
Notes to Financial Statements...........................................4
Supplemental Schedules
Line 27a - Schedule of Assets Held for Investment Purposes..............11
Line 27d - Schedule of Reportable Transactions..........................12
</TABLE>
<PAGE>
SUPPLEMENTAL SCHEDULES
<PAGE>
Report of Independent Auditors
Employee Benefits Committee of
Haverty Furniture Companies, Inc.
We have audited the accompanying statements of net assets available for benefits
of Haverty Furniture Companies, Inc. Thrift Plan as of December 31, 1998 and
1997, and the related statements of changes in net assets available for benefits
for the years then ended. These financial statements are the responsibility of
the Plan's management. Our responsibility is to express an opinion on these
financial statements based on our audits.
We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation.
We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in
all material respects, the net assets available for benefits of the Plan at
December 31, 1998 and 1997, and the changes in its net assets available for
benefits for the years then ended, in conformity with generally accepted
accounting principles.
Our audits were performed for the purpose of forming an opinion on the financial
statements taken as a whole. The accompanying supplemental schedules of assets
held for investment purposes as of December 31, 1998, and reportable
transactions for the year then ended, are presented for the purpose of
additional analysis and are not a required part of the financial statements but
are supplementary information required by the Department of Labor's Rules and
Regulations for Reporting and Disclosure under the Employee Retirement Income
Security Act of 1974. These supplemental schedules are the responsibility of the
Plan's management. The supplemental schedules have been subjected to the
auditing procedures applied in our audits of the financial statements and, in
our opinion, are fairly stated in all material respects in relation to the
financial statements taken as a whole.
June 23, 1999
Atlanta, Georgia
1
<PAGE>
Haverty Furniture Companies, Inc.
Thrift Plan
Statements of Net Assets Available for Benefits
<TABLE>
<CAPTION>
DECEMBER 31
1998 1997
--------------------------
<S> <C> <C>
ASSETS
Cash $ -- $ 5,039
Dividends and interest receivable 90,905 306
Investments, at fair value:
Short term investments 324,759 33,675
Common trust funds 35,941,451 29,073,021
Haverty Furniture Companies, Inc.
Common stock 3,034,437 2,125,926
--------------------------
Total investments 39,300,647 31,232,622
--------------------------
Total assets 39,391,552 31,237,967
LIABILITIES
Payable to broker 3,987 --
--------------------------
Net assets available for benefits $39,387,565 $31,237,967
--------------------------
--------------------------
</TABLE>
SEE ACCOMPANYING NOTES.
2
<PAGE>
Haverty Furniture Companies, Inc.
Thrift Plan
Statements of Changes in Net Assets Available for Benefits
<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31
1998 1997
---------------------------
<S> <C> <C>
Additions to net assets attributed to:
Contributions:
Employer $ 926,265 $ 777,597
Participants 4,129,813 3,353,284
-------------------------
5,056,078 4,130,881
Net appreciation in fair value of investments 5,696,939 4,681,208
Investment income 1,114,390 953,398
-------------------------
11,867,407 9,765,487
Deductions from net assets attributed to:
Benefit payments 3,717,809 4,286,380
-------------------------
Net increase 8,149,598 5,479,107
Net assets available for benefits at beginning of year 31,237,967 25,758,860
-------------------------
Net assets available for benefits at end of year $39,387,565 $31,237,967
-------------------------
-------------------------
</TABLE>
SEE ACCOMPANYING NOTES.
3
<PAGE>
Haverty Furniture Companies, Inc.
Thrift Plan
Notes to Financial Statements
December 31, 1998
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The financial statements of Haverty Furniture Companies, Inc. (the "Company" and
"Plan Sponsor") Thrift Plan (the "Plan") are prepared using the accrual method
of accounting.
INVESTMENT VALUATION
The Plan's investments in common trust funds are stated at fair value as
established by SunTrust Banks, Inc., the trustee of the Plan's investment
assets, based on the fair values of the underlying securities. Securities
traded on a national securities exchange are valued at the last reported
sales price on the last business day of the year. For investments in
securities that do not have an established market, the trustee establishes a
fair value for such securities.
INVESTMENT INCOME
Dividend income is recorded on the ex-dividend date. Interest income is recorded
as earned. Purchases and sales of securities are recorded on a trade date basis.
USE OF ESTIMATES
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates that affect the
amounts reported in the financial statements and accompanying notes. Actual
results inevitably will differ from those estimates, and such differences may be
material to the financial statements.
4
<PAGE>
Haverty Furniture Companies, Inc.
Thrift Plan
Notes to Financial Statements (continued)
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
BENEFIT PAYMENTS
As of December 31, 1998 and 1997, approximately $422,000 and $164,000,
respectively, of benefit payments to be paid to participants is included in net
assets available for benefits.
2. DESCRIPTION OF THE PLAN
The Plan is a "qualified cash or deferred arrangement" plan under Section 401(k)
of the Internal Revenue Code (the "Code"). The following description of the Plan
provides only general information. Further information about the Plan is
contained in the Summary Plan Description, YOUR 401(K) THRIFT PLAN. Copies of
this booklet are available at the Company's Human Resources office.
GENERAL
Any employee of the Company who attains 21 years of age, completes three months
of eligibility service and who is not a member of a collective bargaining unit
(unless there is a written agreement providing for this participation) can
become a participant in the Plan.
CONTRIBUTIONS
Participation is voluntary and eligible employees may elect to defer up to 16%
of their compensation through payroll deductions, subject to statutory
limitations. The Company matches employee contributions at the rate of 50% for
all contributions up to and including 2%, and 25% for all contributions between
3% and 6% of each participant's annual compensation. All contributions are
remitted to the Plan monthly. Additional amounts may be contributed at the
option of the Company's Board of Directors.
5
<PAGE>
Haverty Furniture Companies, Inc.
Thrift Plan
Notes to Financial Statements (continued)
2. DESCRIPTION OF THE PLAN (CONTINUED)
PARTICIPANT ACCOUNTS
Each participant's account is credited with the participant's contribution and
allocations of the Company's contribution and Plan earnings. Allocations are
based on participant earnings or account balances, as defined in the Plan
agreement. The benefit to which a participant is entitled is the benefit that
can be provided from the participant's vested account.
VESTING
Participants are immediately vested in their contributions plus actual earnings
thereon. Vesting in the employer contribution portion of their accounts plus
actual earnings thereon is based on the number of years of service with the
Company, including any years of service when the participant was eligible and
did not participate in the Plan. A participant is 100 percent vested after five
years of credited service. Forfeitures of employer contributions are used to
offset employer matching contributions for the same and/or future Plan years.
Forfeited non-vested accounts of approximately $85,000 and $146,000 were used to
reduce employer contributions during the years ended December 31, 1998 and 1997,
respectively.
PAYMENT OF BENEFITS
All amounts credited to a participant's accounts are distributed with no
forfeiture upon termination of employment for death, total disability,
retirement at age 65, or after completion of five or more years of service.
3. INCOME TAX STATUS
The Plan has received a determination letter from the Internal Revenue Service
dated June 21, 1996, stating that the Plan is qualified under Section 401(a) of
the Code and, therefore, the related trust is exempt from taxation. Once
qualified, the Plan is required to operate in conformity with the Code to
maintain its qualification. The Plan administrator believes the Plan is being
operated in compliance with the applicable requirements of the Code and,
therefore, believes that the Plan is qualified and the related trust is tax
exempt.
6
<PAGE>
Haverty Furniture Companies, Inc.
Thrift Plan
Notes to Financial Statements (continued)
4. TRANSACTIONS WITH PARTIES-IN-INTEREST
At December 31, 1998 and 1997, the Plan held 144,497 and 157,476 shares of
Haverty Furniture Companies, Inc. Common Stock, respectively. The fair value of
this stock at December 31, 1998 and 1997 was $3,034,437 and $2,125,926,
respectively. During 1998 and 1997, the Plan received $45,697 and $52,947,
respectively, in dividends on Haverty Furniture Companies, Inc. Common Stock.
Certain Plan investments are shares of common trust funds managed by SunTrust
Banks, Inc. SunTrust Banks, Inc. is the trustee as defined by the Plan and,
therefore, these transactions qualify as party-in-interest. The Plan Sponsor
paid administrative expenses on behalf of the Plan for the year ended December
31, 1998.
5. INVESTMENTS
The fair value of individual investments that represent 5% or more of the Plan's
net assets are as follows:
<TABLE>
<CAPTION>
DECEMBER 31
1998 1997
-------------------------
<S> <C> <C>
SunTrust Banks, Inc. Money Market Fund $ 2,300,677 $ 1,824,447
SunTrust Banks, Inc. Balanced Fund 9,369,655 10,223,747
SunTrust Banks, Inc. Equity Growth Fund 13,827,286 10,888,436
SunTrust Banks, Inc. Equity Income Fund 4,498,895 4,057,036
SunTrust Banks, Inc. Equity Index Funds 4,726,733 --
Haverty Furniture Companies, Inc. Common Stock 3,034,437 2,125,926
</TABLE>
6. PLAN TERMINATION
Although it has not expressed any intent to do so, the Company has the right
under the Plan to discontinue its contributions at any time and to terminate the
Plan subject to the provisions of ERISA. In the event of Plan termination,
participants will become fully vested in their accounts.
7
<PAGE>
Haverty Furniture Companies, Inc.
Thrift Plan
Notes to Financial Statements (continued)
7. YEAR 2000 (UNAUDITED)
The Plan Sponsor has determined that it will be necessary to take certain steps
in order to ensure that the Plan's information systems are prepared to handle
year 2000 dates. The Plan Sponsor has taken the actions necessary to ensure that
its systems and applications will recognize and process the year 2000 date and
beyond. Costs associated with modifying software and equipment are not estimated
to be significant and will be paid by the Plan Sponsor.
The Plan Sponsor has established communications with its third party service
providers to determine that they have developed plans to address their own year
2000 compliance as it relates to the Plan's operations. All third party service
providers have indicated that they will be year 2000 compliant during 1999. If
modifications of data processing systems of either the Plan, the Plan Sponsor,
or its service providers are not completed timely, the year 2000 problem could
have a material impact on the operations of the Plan.
8
<PAGE>
Haverty Furniture Companies, Inc.
Thrift Plan
Notes to Financial Statements (continued)
8. CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
The changes in net assets available for benefits by fund option during the
years ended December 31, 1998 and 1997 are as follows:
<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31, 1998
-------------------------------------------------------------------------
MONEY SHORT & EQUITY EQUITY
MARKET INTERMEDIATE BALANCED GROWTH INCOME
FUND BOND FUND FUND FUND FUND
------------ ------------ ------------ ------------ -----------
<S> <C> <C> <C> <C> <C>
Additions to net assets attributed to:
Contributions:
Employer $ 64,645 $ 29,614 $ 215,629 $ 295,680 $ 137,906
Participants 254,405 119,253 913,890 1,250,874 709,792
------------ ------------ ------------ ------------ -----------
319,050 148,867 1,129,519 1,546,554 847,698
Investment income 109,553 42,477 455,528 382,168 73,343
------------ ------------ ------------ ------------ -----------
428,603 191,344 1,585,047 1,928,722 921,041
Deductions from net assets attributed to:
Benefit payments 561,412 111,518 1,190,421 999,455 440,275
------------ ------------ ------------ ------------ -----------
561,412 111,518 1,190,421 999,455 440,275
Net transfers 635,984 429,484 (1,304,425) (1,038,686) (461,682)
Net realized and unrealized appreciation in fair
value of investments -- 22,839 155,261 3,190,518 493,077
------------ ------------ ------------ ------------ -----------
Net increase (decrease) 503,175 532,149 (754,538) 3,081,099 512,161
Net assets by investment option at beginning of
year 1,828,690 691,194 10,228,239 10,893,837 4,063,294
------------ ------------ ------------ ------------ -----------
Net assets by investment option at end of year $ 2,331,865 $ 1,223,343 $ 9,473,701 $ 13,974,936 $ 4,575,455
------------ ------------ ------------ ------------ -----------
------------ ------------ ------------ ------------ -----------
</TABLE>
<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31, 1998
-----------------------------------------
HAVERTY
FURNITURE
EQUITY COS., INC.
INDEX COMMON
FUND STOCK TOTAL
------------ ------------ ------------
<S> <C> <C> <C>
Additions to net assets attributed to:
Contributions:
Employer $ 118,600 $ 64,191 $ 926,265
Participants 593,951 287,648 4,129,813
------------ ------------ ------------
712,551 351,839 5,056,078
Investment income 32,453 18,868 1,114,390
------------ ------------ ------------
745,004 370,707 6,170,468
Deductions from net assets attributed to:
Benefit payments 207,817 206,911 3,717,809
------------ ------------ ------------
207,817 206,911 3,717,809
Net transfers 2,121,682 (382,357) --
Net realized and unrealized appreciation in fair
value of investments 671,980 1,163,264 5,696,939
------------ ------------ ------------
Net increase (decrease) 3,330,850 944,703 8,149,598
Net assets by investment option at beginning of
year 1,401,010 2,131,703 31,237,967
------------ ------------ ------------
Net assets by investment option at end of year $ 4,731,859 $ 3,076,406 $ 39,387,565
------------ ------------ ------------
------------ ------------ ------------
</TABLE>
9
<PAGE>
Haverty Furniture Companies, Inc.
Thrift Plan
Notes to Financial Statements (continued)
8. CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS WITH FUND INFORMATION
(CONTINUED)
<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31, 1997
-------------------------------------------------------------------------------
MONEY MARKET BOND BALANCED EQUITY EQUITY INCOME
FUND FUND FUND GROWTH FUND FUND
-------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Additions to net assets attributed to:
Contributions:
Employer $ 67,925 $ 27,747 $ 220,510 $ 250,623 $ 115,512
Participants 259,685 117,625 946,541 1,081,529 527,235
------------ ------------ ------------ ------------ ------------
327,610 145,372 1,167,051 1,332,152 642,747
Investment income 95,595 40,461 372,223 305,989 73,775
------------ ------------ ------------ ------------ ------------
423,205 185,833 1,539,274 1,638,141 716,522
Deductions from net assets attributed to:
Benefit payments 435,125 119,325 1,410,390 1,494,973 536,608
------------ ------------ ------------ ------------ ------------
435,125 119,325 1,410,390 1,494,973 536,608
Net transfers 582,136 (144,862) (1,281,774) (678,275) 881,694
Net appreciation in fair value of investments -- 9,378 1,563,835 2,035,039 625,901
------------ ------------ ------------ ------------ ------------
Net increase (decrease) 570,216 (68,976) 410,945 1,499,932 1,687,509
Net assets by investment option at beginning of
year 1,258,474 760,170 9,817,294 9,393,905 2,375,785
------------ ------------ ------------ ------------ ------------
Net assets by investment option at end of year $ 1,828,690 $ 691,194 $ 10,228,239 $ 10,893,837 $ 4,063,294
------------ ------------ ------------ ------------ ------------
------------ ------------ ------------ ------------ ------------
</TABLE>
<TABLE>
<CAPTION>
YEAR ENDED DECEMBER 31, 1997
--------------------------------------------
HAVERTY
EQUITY FURNITURE COS.,
INDEX INC.
FUND COMMON STOCK TOTAL
--------------------------------------------
<S> <C> <C> <C>
Additions to net assets attributed to:
Contributions:
Employer $ 26,907 $ 68,373 $ 777,597
Participants 125,524 295,145 3,353,284
------------ ------------ ------------
152,431 363,518 4,130,881
Investment income 12,255 53,100 953,398
------------ ------------ ------------
164,686 416,618 5,084,279
Deductions from net assets attributed to:
Benefit payments 47,833 242,126 4,286,380
------------ ------------ ------------
47,833 242,126 4,286,380
Net transfers 1,184,156 (543,075) --
Net appreciation in fair value of investments 100,001 347,054 4,681,208
------------ ------------ ------------
Net increase (decrease) 1,410,010 (21,529) 5,479,107
Net assets by investment option at beginning of
year -- 2,153,232 25,758,860
------------ ------------ ------------
Net assets by investment option at end of year $ 1,401,010 $ 2,131,703 $ 31,237,967
------------ ------------ ------------
------------ ------------ ------------
</TABLE>
10
<PAGE>
Haverty Furniture Companies, Inc.
Thrift Plan
EIN: 58-0281900
Plan No. 003
Line 27a - Schedule of Assets Held for Investment Purposes
December 31, 1998
<TABLE>
<CAPTION>
(B) IDENTITY OF ISSUE, BORROWER,
LESSOR (E) CURRENT
(A) OR SIMILAR PARTY (C) DESCRIPTION OF INVESTMENT (D) COST VALUE
- -----------------------------------------------------------------------------------------------------------------------------------
SHORT TERM INVESTMENTS
<S> <C> <C> <C>
* SunTrust Banks, Inc. AIM STIC Prime Portfolio $ 324,759 $ 324,759
COMMON TRUST FUNDS
* SunTrust Banks, Inc. Money Market Fund 2,300,677 2,300,677
* SunTrust Banks, Inc. Short and Intermediate Bond Fund 1,186,409 1,218,205
* SunTrust Banks, Inc. Balanced Fund 7,763,292 9,369,655
* SunTrust Banks, Inc. Equity Growth Fund 9,129,928 13,827,286
* SunTrust Banks, Inc. Equity Income Fund 4,047,714 4,498,895
* SunTrust Banks, Inc. Equity Index Fund 3,986,850 4,726,733
COMMON STOCK
* Haverty Furniture Cos., Inc. Common stock 2,003,197 3,034,437
--------------------------------------
$30,742,826 $39,300,647
--------------------------------------
--------------------------------------
</TABLE>
* Indicates a party-in-interest to the Plan.
11
<PAGE>
Haverty Furniture Companies, Inc.
Thrift Plan
EIN: 58-0281900
Plan No. 003
Line 27d - Schedule of Reportable Transactions
Year ended December 31, 1998
<TABLE>
<CAPTION>
(D) (G) (H) CURRENT VALUE OF (I)
(A) IDENTITY OF PARTY (C) PURCHASE SELLING COST OF ASSET ON TRANSACTION NET GAIN
INVOLVED (B) DESCRIPTION OF ASSETS PRICE PRICE ASSET DATE (LOSS)
- -----------------------------------------------------------------------------------------------------------------------------------
CATEGORY (III) - A SERIES OF SECURITY TRANSACTIONS WHICH EXCEEDS 5% OF PLAN
ASSETS.
<S> <C> <C> <C> <C> <C> <C>
SunTrust Banks, Inc. AIM STIC Prime Portfolio $7,427,389 $ -- $7,427,389 $7,427,389 $ --
SunTrust Banks, Inc. AIM STIC Prime Portfolio -- 7,136,305 7,136,305 7,136,305 --
SunTrust Banks, Inc. Short and Intermediate Bond Fund 1,081,692 -- 1,081,692 1,081,692 --
SunTrust Banks, Inc. Short and Intermediate Bond Fund -- 605,462 605,462 605,462 --
SunTrust Banks, Inc. Balanced Fund 1,335,804 -- 1,335,804 1,335,804 --
SunTrust Banks, Inc. Balanced Fund -- 2,345,157 1,556,148 2,345,157 789,009
SunTrust Banks, Inc. Equity Growth Fund 1,196,959 -- 1,196,959 1,196,959 --
SunTrust Banks, Inc. Equity Growth Fund -- 1,448,627 867,379 1,448,627 581,248
SunTrust Banks, Inc. Equity Income Fund 986,388 -- 986,388 986,388 --
SunTrust Banks, Inc. Equity Income Fund -- 1,037,606 691,454 1,037,606 346,152
SunTrust Banks, Inc. Equity Index Fund 2,812,941 -- 2,812,941 2,812,941 --
SunTrust Banks, Inc. Equity Index Fund -- 153,349 129,429 153,349 23,920
</TABLE>
THERE WERE NO CATEGORY (I), (II) OR (IV) TRANSACTIONS DURING THE YEAR ENDED
DECEMBER 31, 1998.
Note: The information required by in columns (E) and (F) is not applicable.
12
<PAGE>
CONSENT OF INDEPENDENT AUDITORS
We consent to the incorporation by reference in the Registration Statement (Form
S-8 No. 33-44285) pertaining to the Haverty Furniture Companies, Inc. Thrift
Plan of our report dated June 23, 1999, with respect to the financial statements
and schedules of Haverty Furniture Companies, Inc. Thrift Plan included in this
Form 10-K/A, Amendment No. 1 to the Annual Report on Form 10-K for the year
ended December 31, 1998.
/s/ Ernst & Young LLP
Atlanta, Georgia
June 23, 1999
<PAGE>
S I G N A T U R E S
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Plan has caused this annual report to be signed on the 29th day of June
1999, by the undersigned thereunto duly authorized.
HAVERTY FURNITURE COMPANIES, INC.
THRIFT PLAN
By /s/ Dennis L. Fink
-------------------------------
Dennis L. Fink,
Executive Vice President and
Chief Financial Officer
(principal financial officer)
By /s/ Dan C. Bryant
-------------------------------
Dan C. Bryant,
Vice President and Controller
(principal accounting officer)
By /s/ Jenny H. Parker
-------------------------------
Jenny H. Parker,
Vice President,
Secretary and Treasurer
