The Good Brigade/DigitalVision via Getty Images Haverty Furniture Companies, Inc. ( HVT ) is a specialty furniture retailer serving the suburban US market through 129 stores, so it has a mid-market footprint, reflective also of its mid-to-small cap market cap of around $370 million when considering class A into common stock conversions. They are also, therefore, still in a growth tenor, targeting ...
The Good Brigade/DigitalVision via Getty Images Haverty Furniture Companies, Inc. ( HVT ) is a specialty furniture retailer serving the suburban US market through 129 stores, so it has a mid-market footprint, reflective also of its mid-to-small cap market cap of around $370 million when considering class A into common stock conversions. They are also, therefore, still in a growth tenor, targeting 5 openings of stores , usually in big box real estate, per year in the Southeastern US in affluent markets. They try to do a more tailored model, giving free consultations to buyers, who then typically make significantly larger purchases (double), likely reflecting winning wallet share through that sort of in-store, almost interior design engagement. At this scale, it reflects an effective competitive lever. The normalized FCFY is close to 10%, we think, once 2026 expansion step-ups are passed, and also given the fact that tariffs may be firmly deemed illegal. Also, additional tariffs of 5% on wood furniture hadn't been put into place in time before the Supreme Court ruling . But in general, the company has mitigated tariff exposure thanks to a strong upholstery business where import intensity is lower, and also as demonstrated in the results where China exposure was reduced to below 5% and direct imports generally limited. The strong FCFY, which we believe is the main draw here, easily supports the around 6% dividend yield currently and also continued growth, making Haverty an attractive income play. They have around $177 million in real estate, and net of the net financial position driven by leases, that covers around a third of the market cap. However, the real estate and value angle, in our view, remain sharper at our high-conviction furniture play , Leon's Furniture ( LNF:CA ), which also has FCFYs around 10% currently . So they win out. Moreover, there are clearly risks with respect to reinflation and how that could affect discretionary purchases on the front line as ...
Fiserv, Global Payments, and FIS offers distinct options with turnaround potential, acquisition-led growth, and steady income in a rapidly expanding sector.
Fiserv, Global Payments, and FIS offers distinct options with turnaround potential, acquisition-led growth, and steady income in a rapidly expanding sector.
The US and Iran’s failure to strike a peace deal over the weekend is set to weigh on market sentiment and lift demand for safe haven assets on Monday, according to analysts. The two sides couldn’t reach an agreement during talks in Pakistan, which is likely to disappoint investors who had added exposure to risk assets last week after the countries announced a ceasefire. Vice President JD Vance sai...
The US and Iran’s failure to strike a peace deal over the weekend is set to weigh on market sentiment and lift demand for safe haven assets on Monday, according to analysts. The two sides couldn’t reach an agreement during talks in Pakistan, which is likely to disappoint investors who had added exposure to risk assets last week after the countries announced a ceasefire. Vice President JD Vance said negotiators will return to the US without a deal after Iran didn’t give a commitment it wouldn’t seek a nuclear weapon. The dollar is expected to rise on Monday, after falling 1.4% last week, along with oil prices, analysts said. Equities broadly should slide. The immediate outlook for Treasuries is more mixed, as safe-haven flows joust with inflation concerns. Crude oil markets will take their cue from persistent constraints in flows through the Strait of Hormuz. Gold may catch a bid. Analysts also said the scale of market reaction may be limited if investors take the view that the talks represent only a temporary setback for hopes of peace. Here’s what they said: Kyle Rodda , analyst at Capital.com Inc. For Treasuries, the base case is a knee-jerk bid at the open, followed by two-way price action as markets weigh safe-haven demand against the inflation read. Whether that bid holds depends entirely on where oil opens. If oil pushes higher on Hormuz concerns, inflation expectations reprice quickly and put a floor under yields. That limits how far the duration rally can run. The key question for Monday is whether markets interpret this as a temporary breakdown in negotiations or a structural collapse of the ceasefire framework. That distinction will determine whether the risk-off move fades quickly or extends further. Obviously the situation is pretty fluid, so we will have to see whether there’s any new developments in talks when they pick up again or if the public rhetoric from either the US and Iran turns belligerent again. Charu Chanana , chief investment strategist at...