Harvey Norman

Harvey Norman reported its third quarter sales yesterday. There was little improvement from the second quarter, which was itself a dire result (see 1 Mar 12 (Hold – $2.07)). Global same-store sales fell 7.5% in the third quarter (compared with an 8% decline in the second quarter). In Australia, the respective figure was -7.7% (second quarter: -9.5%). These declines remain considerably worse than JB Hi-Fi, which reported a profit downgrade last week. While Harvey Norman has been discounting to maintain market share, it’s not working yet. Rather, everyone is suffering the pain of lower gross margins. While Harvey Norman...

Harvey Norman reported its third quarter sales yesterday. There was little improvement from the second quarter, which was itself a dire result (see 1 Mar 12 (Hold – $2.07)).

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles