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
The big slide in sales and profits reported by Harvey Norman yesterday is a ‘tell’ for investors thinking about how the retail sector will fare in next February’s interim reporting season.
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Consumer products retailer Harvey Norman says it has repaid $6 million in JobKeeper subsidies to the federal government following months of criticism and pressure.
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As demand for home-based goods continues apace Harvey Norman is in a purple patch. How long will such buoyant times prevail?
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As expected Gerry Harvey’s Harvey Norman earned a motza in the six months to December and he will take a motza in a higher dividend for the half as a result.
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The early months of 2020-21 have seen earnings for Harvey Norman continue their strength from the final quarters of 2019-20 as the ripples of the surge in consumer spending in the COVID-lockdowns continues.
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Neutral rating and target eases to $5.61 from $5.65.
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The broker retains a Neutral rating and raises the target to $5.80 from $5.68.
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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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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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