Harvey Norman: Result 2012

It was a terrible 2012 for Harvey Norman. While 2013 looks slightly better, its property valuations are open to question.

The 2012 financial year was Harvey Norman’s toughest ever. The company blamed the collapses of WOW Light and Sound and Retravision Southern, and Woolworths’ decision to offload Dick Smith for fierce competition in the audio-visual and information technology retailing segment. While there’s clearly some effect from competitor discounting, Harvey Norman is still losing market share to JB Hi-Fi.

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