Haverty Furniture Companies (HVT) risk factors, FY2024 10-K

Risks Related to Our Business

1. 01We face significant competition from national, regional and local retailers of home furnishings
2. 02If we fail to successfully anticipate or respond to changes in consumer preferences in a timely manner, our sales may decline
3. 03Our future success is largely dependent on our ability to successfully implement our growth and other strategies
4. 04Inability to maintain and enhance our brand may materially adversely impact our business
5. 05We import a substantial portion of our merchandise from foreign sources, which exposes us to political and economic risks inherent in global sourcing
6. 06currencies become unfavorable, the likelihood of price increases from our vendors increases
7. 07Our vendors might fail in meeting our quality control standards or reacting to changes to the legislative or regulatory framework regarding product safety
8. 08Significant fluctuations in the price, availability and quality of raw materials and components could adversely affect our profits
9. 09Our revenue can be adversely affected by our ability to successfully forecast our supply chain needs and our foreign manufacturers’ ability to comply with international trade rules and regulations
10. 10We rely on third party transportation providers for substantially all of our product shipments from our vendors
11. 11Because of our limited number of distribution centers, our operating results could suffer if one is damaged
12. 12We rely extensively on information technology systems to process transactions, summarize results, and manage our business. Disruptions in our information technology systems could adversely affect our business and operating results
13. 13Successful cyber-attacks and the failure to maintain adequate cyber-security systems and procedures could materially harm our business
14. 14We may be unable to attract, train, engage and retain key teammates
15. 15A failure to recruit, develop and retain effective leaders or the loss or shortage of personnel with key capacities and skills could impact our strategic growth plans and jeopardize our ability to meet our business performance expectations and growth targets

General Risks

1. 16An overall decline in the health of the economy and consumer spending may affect consumer purchases of discretionary items, which could reduce demand for our products and materially harm our sales, profitability and financial condition
2. 17The rise of oil and gasoline prices could affect our profitability
3. 18ESG risks could adversely affect our reputation and shareholder, employee, customer and third-party relationships and may negatively affect our stock price
4. 19Pending or unforeseen litigation and the potential for adverse publicity associated with litigation could have a material adverse effect on us