What the changes say
- Foreign sourcing exposure increased from 58% to 63% of total furniture purchases, raising tariff and geopolitical vulnerability.
What changed since the prior 10-K
New
- NewRisks Related to Our Retail Operations and Marketing
Our ability to attract clients to our stores depends heavily on successfully locating our stores in suitable locations
Our store revenue depends heavily on high foot traffic and suitable locations, and poor lease choices or local economic downturns could harm sales.
- NewRisks Related to Technology and Data Security
cyber‑attacks, malware and ransomware attacks, security breaches, severe weather, natural disasters, and errors by employees
We face operational disruptions from IT failures and cybersecurity breaches, and we are increasingly partnering with third parties to utilize artificial intelligence tools.
- NewGeneral Risks
Our operations present risks which may not be fully covered by insurance
We maintain self-insured health benefits with stop-loss coverage, and uninsured losses or inability to obtain favorable insurance could harm our financial condition.
- NewGeneral Risks
We are subject to governmental regulations and may be subject to enforcement if we are not in compliance with applicable regulation, and changes in laws could make conducting our business more expensive or otherwise change the way we do business
Federal, state, and local regulations regarding labor, consumer protection, and employee benefits could increase our operating and compliance costs.
- NewGeneral Risks
Failure to protect our intellectual property could materially adversely affect us
Failure to protect our copyrights, trademarks, and trade secrets, or infringing on the intellectual property of others, could harm our business.
- NewGeneral Risks
Our business may be adversely affected by natural disasters, public health events, geopolitical instability, or other disruptive events
Natural disasters, public health events, and geopolitical instability can disrupt our vendor supply chains, distribution facilities, and customer demand.
Dropped
- DroppedRisks Related to Our Business
currencies become unfavorable, the likelihood of price increases from our vendors increases
- DroppedGeneral Risks
The rise of oil and gasoline prices could affect our profitability
- DroppedGeneral Risks
ESG risks could adversely affect our reputation and shareholder, employee, customer and third-party relationships and may negatively affect our stock price
Reworded
- 72% rewrittenRisks Related to Merchandising and Supply Chain Operations
We import a substantial portion of our merchandise from foreign sources, which exposes us to political and economic risks inherent in global sourcing
Foreign furniture purchases not produced domestically increased from 58% in 2024 to 63% in 2025.
- 61% rewrittenRisks Related to Technology and Data Security
We 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
Added cyber-attacks, malware, ransomware, phishing, and employee errors to the list of IT disruption threats.
- 57% rewrittenRisks Related to Our Retail Operations and Marketing
If we fail to successfully anticipate or respond to changes in our target consumer's product and shopping channel preferences in a timely manner, our sales may decline
Added a sentence noting that omni-channel retailing continues to rapidly evolve.
Was: If we fail to successfully anticipate or respond to changes in consumer preferences in a timely manner, our sales may decline
- 23% rewrittenRisks Related to Our Business
We face significant competition from national, regional and local retailers of home furnishings
Expanded competitive landscape description to include national retailers alongside department stores.
All 22 risk factors
Headings as the filing states them, in filing order.
Risks Related to Our Business
- 01An 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
- 02We face significant competition from national, regional and local retailers of home furnishings23% rewritten
Risks Related to Our Retail Operations and Marketing
- 03If we fail to successfully anticipate or respond to changes in our target consumer's product and shopping channel preferences in a timely manner, our sales may decline57% rewritten
- 04Inability to maintain and enhance our brand may materially adversely impact our business
- 05Our future success is largely dependent on our ability to successfully implement our growth and other strategies
- 06Our ability to attract clients to our stores depends heavily on successfully locating our stores in suitable locationsNew
Risks Related to Merchandising and Supply Chain Operations
- 07We import a substantial portion of our merchandise from foreign sources, which exposes us to political and economic risks inherent in global sourcing72% rewritten
- 08Our vendors might fail in meeting our quality control standards or reacting to changes to the legislative or regulatory framework regarding product safety
- 09Significant fluctuations in the price, availability and quality of raw materials and components could adversely affect our profits
- 10Our 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
- 11We rely on third party transportation providers for substantially all of our product shipments from our vendors
- 12Because of our limited number of distribution centers, our operating results could suffer if one is damaged
Risks Related to Technology and Data Security
- 13We 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 results61% rewritten
- 14cyber‑attacks, malware and ransomware attacks, security breaches, severe weather, natural disasters, and errors by employeesNew
- 15Successful cyber-attacks and the failure to maintain adequate cyber-security systems and procedures could materially harm our business
Risks Related to Human Capital
- 16We may be unable to attract, train, engage and retain key employees
- 17A 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
- 18Our operations present risks which may not be fully covered by insuranceNew
- 19We are subject to governmental regulations and may be subject to enforcement if we are not in compliance with applicable regulation, and changes in laws could make conducting our business more expensive or otherwise change the way we do businessNew
- 20Failure to protect our intellectual property could materially adversely affect usNew
- 21Pending or unforeseen litigation and the potential for adverse publicity associated with litigation could have a material adverse effect on us
- 22Our business may be adversely affected by natural disasters, public health events, geopolitical instability, or other disruptive eventsNew
Other Haverty Furniture Companies 10-Ks
- FY2024 10-K risk factors19 risks
Haverty Furniture relies heavily on foreign sourcing, with 58% of purchases in 2024 coming from abroad. The business is vulnerable to supply chain disruptions due to operating a limited number of just three distribution centers. General economic health, discretionary consumer spending, and fuel price volatility heavily impact profitability.
Filed Mar 06, 2025
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.