Haverty’s furniture store at Valley View in Roanoke will close in May, opening up a large retail space in an high-traffic commercial area that is mostly built-out and landlocked.
The 40,000 square-foot store next to Dick’s Sporting Goods will close May 20, just before its lease ends, according to Jenny Parker, a spokeswoman for the Atalanta-based company.
“We felt like it was a good time to evaluate where we were,” Parker said, adding that the store’s profit margin played into the decision to close.
“It just depends on the market and what we see,” she said.
Overall, the furniture company is growing.
Haverty’s reported its fourth quarter
profits revenues rose to $182.3 million, a 8.4 percent increase from the same time period a year before. Comparable store sales increased 6 percent, according to the earnings report.
The company also added two new stores since fourth quarter 2011 and has plans to expand its showrooms in some markets.
“We will be adjusting our square footage during 2013, closing stores in certain markets and expanding showrooms in desirable locations,” Clarence H. Smith, president and CEO, said in the report.
The Roanoke showroom is one of three to close this year, Parker said. The others are in Jackson, Miss. and Tampa, Fla.
Haverty’s operates 121 showrooms in 17 states in southern and midwestern states.
The Roanoke showroom is owned by Abmar LLC, which has an Atlanta address, according to Roanoke city online real estate records. The ownership group could not be reached, so it remains unclear what will happen with the building.