Harvey Norman has reported a significant increase in sales revenue, with aggregated sales up 9.1 per cent for the period spanning July 1 to November 20. This growth was fuelled by robust performances across both its overseas company-operated stores and its Australian franchised complexes. Comparable aggregated sales also experienced a notable rise of 8.1 per cent during the same period.
The sales figures incorporate results from wholly owned stores in New Zealand, Slovenia, Croatia, Ireland, and the UK, as well as majority-owned stores located in Singapore and Malaysia. The numbers also reflect sales from independent Harvey Norman, Domayne, and Joyce Mayne franchisees within Australia. It’s important to note that while franchisee sales contribute to the overall aggregated sales figure, they are not recognised as revenue directly for Harvey Norman.
Breaking down the performance geographically, Australian franchisees witnessed a solid 6.5 per cent increase in aggregate sales, slightly ahead of the 6.4 per cent growth recorded in the previous year. However, overseas markets demonstrated even stronger gains. Slovenia and Croatia led the charge with a combined increase of 25.3 per cent, followed by Ireland at 17.9 per cent, Malaysia at 17.1 per cent, and Singapore at 12.3 per cent.
Notably, sales in the UK experienced an exceptional surge of 123.6 per cent when measured in Australian dollar terms, or 111.9 per cent in pounds. This impressive growth also translated to a comparable growth figure of 15.8 per cent for the UK market. Harvey Norman is a major retailer that operates through franchising and company-owned stores, offering a wide range of goods including furniture, bedding, computers, communications, and consumer electrical products. The company is headquartered in Australia and has a significant international presence.
