Harvey Norman’s profit slumps
A slide in sales and profits was always on the cards after the retailer provided updates in recent months about the sales performance in what was a tough six months to the end of December.
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Harvey Norman Holdings Limited
The Harvey Norman® brand name is a retail icon throughout Australia with 57 franchised complexes in New South Wales, 1 in the Australian Capital Territory, 36 in Queensland, 38 in Victoria, 18 in Western Australia, 10 in South Australia, 6 in Tasmania and 2 in the Northern Territory. Brands sold across the 168 Harvey Norman® franchised complexes throughout Australia are market leaders in the core audio visual and technology segment
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The rise of Japan, Harvey Norman, IAG
Fund Manager Chris Pedersen discusses ETFs vs unlisted funds, Japan outperforming China, Harvey Norman and IAG.
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News
The rise of Japan, Harvey Norman, IAG
Fund Manager Chris Pedersen discusses ETFs vs unlisted funds, Japan outperforming China, Harvey Norman and IAG.
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Harvey Norman surges 3%
Signs of a small pickup in sales boosted Harvey Norman (ASX:HVN) shares by 3% on the ASX Wednesday morning as the consumer electronics and white goods group held its annual meeting for 2022-23.
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Harvey Norman reveals 10% share buyback plan amid weak September sales
Harvey Norman (ASX:HVN) has unveiled a surprising plan for a 10% share buyback worth $442 million over the next year. This move comes in response to dismal September quarter sales and a grim outlook for the future.
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Harvey Norman shares rise despite decline in 2022-23 results
Harvey Norman (ASX:HVN) saw a 2.6% increase in its shares on Thursday as investors breathed a sigh of relief that the 2022-23 financial results were not as dire as anticipated by the market.
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Analyst Views
HVN – Credit Suisse rates the stock as Neutral
Neutral rating and target eases to $5.61 from $5.65.
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HVN – Credit Suisse rates the stock as Neutral
The broker retains a Neutral rating and raises the target to $5.80 from $5.68.
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HVN – UBS rates the stock as Buy
First half results were ahead of expectations. UBS continues to envisage capital management as a catalyst on a 6-12 month view. UBS retains a Buy rating. Target is reduced to $5.60 from $5.80.
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HVN – Credit Suisse rates the stock as Neutral
First-half results were largely in line with expectations. However, Credit Suisse notes comparisons are unfavourable with The Good Guys ((JBH)) and Nick Scali ((NCK)), as Harvey Norman's Australian franchisee performance weakened in the second quarter relative to the other two.
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