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.
Read MoreA 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.
Read MoreFund Manager Chris Pedersen discusses ETFs vs unlisted funds, Japan outperforming China, Harvey Norman and IAG.
Read MoreSigns 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.
Read MoreHarvey 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.
Read MoreHarvey 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.
Read More28 Jun 2023 – Retailer Harvey Norman has issued a warning, stating that it expects a significant decline in earnings for 2023. The company's chairman, billionaire Gerry Harvey, attributes this forecasted drop to the series of interest rate hikes implemented by the Reserve Bank, which has negatively impacted business and consumer sales.
Read MoreThe post-pandemic slump ensnared Harvey Norman in the December half and the weakness has deepened in the early part of 2023, with double digit falls across its Australian stores.
Read MoreRetail chain Harvey Norman has revealed plans to radically expand its Malaysian operation over the next six years by boosting store numbers almost threefold.
Read MoreASIC has launched legal action against Latitude Finance Australia and major consumer goods retailer Harvey Norman over the promotion of interest free payment methods.
Read MoreUnlike rival JB Hi-Fi earlier this month, Harvey Norman revealed on the final day of the reporting season that it had suffered a small dip in sales and earnings for the year to June 30.
Read MoreThe Buy rating and $7 target price are retained.
Read MoreNeutral rating and target eases to $5.61 from $5.65.
Read MoreThe 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.
Read MoreThe broker retains a Neutral rating and raises the target to $5.80 from $5.68.
Read MoreConsumer products retailer Harvey Norman says it has repaid $6 million in JobKeeper subsidies to the federal government following months of criticism and pressure.
Read MoreAs demand for home-based goods continues apace Harvey Norman is in a purple patch. How long will such buoyant times prevail?
Read MoreFirst 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.
Read MoreAs 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.
Read MoreThe 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.
Read MoreAnother very strong sales and profit update from retailer Harvey Norman with the company revealing double-digit growth through the first quarter of 2020-21 as consumers continue to spend heavily.
Read MoreConsumers shopped in larger quantities, less frequently and increasingly online during the height of the nationwide lockdowns. The question now is: which trends will persist and which stocks will benefit as restrictions ease?
Read MoreIncreased Australian franchisee sales have generated exceptional profit growth for Harvey Norman in the latter stages of FY20 but will this heightened state endure?
Read MoreHarvey Norman shares rose nearly 5% in yesterday’s weak market after it surprised with a very rare profit estimate before the end of the financial year. The shares ended up 4.9% to $3.62 after the company announced a measure of earnings would be up around 20%.
Read MoreHarvey Norman (HVN) shares jumped sharply yesterday after the electronics, whitegoods and furniture retailer revealed a special dividend for shareholders after reporting five months of booming sales during the coronavirus lockdown.
Read MoreFirst-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.
Read MoreOn the last day of the 2019-20 interim reporting season, the retailer reported a fall in pre-tax profits due to weaker local sales and higher support payments to its almost 200 franchisees. Weak as that was, the outlook for the current year is even more alarming.
Read MoreFY19 results missed forecasts. The company has announced an equity raising of $173m. Credit Suisse suspects this will exacerbate investor debates regarding gearing. The franchisee segment was affected by weaker profitability and also increased expenditure on compliance.
Read MoreAfter a tour of the Malaysian and Singaporean operations, UBS is more positive, increasingly confident in both store targets and margin upside. The broker lifts estimates for earnings per share by 1-2% for the group and Asian operating earnings forecasts (EBITDA) by 1-9%.
Read MoreFurniture, white goods, and electronics retailer Harvey Norman will pay a steady interim dividend of 12 cents a share after an indifferent performance in the six months to December.
Read MoreShareholders in retailer, Harvey Norman have delivered a first strike against the company’s board during a tense annual general meeting at which chair Gerry Harvey claimed critics of the retailer “totally friggen mad”.
Read MoreAt least $50 million gone at Harvey Norman with no real explanation after its dairy investment, Coomboona Holdings went into receivership.
Read MoreHarvey Norman confirmed yesterday that the fastest way to see shares fall on the ASX is to surprise the market with unexpected losses, write downs and talk of legal disputes.
Read MoreShares in Harvey Norman were given a whacking by investors yesterday who didn’t like the surprise news of a cut in dividend, the weak explanation for the decision, and the backdrop of record earnings.
Read MoreSome media reports, such as the Australian Financial Review describe the situation as a ‘farce’, others reported the story more prosaically.
Read MoreHarvey Norman (HVN) shares fell out of bed yesterday, losing more than 8% to end a rough day’s trading at nine month lows.
Read MoreGerry Harvey’s Harvey Norman (HVN) group “punished’ investors and analysts yesterday by not holding a results briefing because he is upset with the increasing scrutiny of the company and its accounting.
Read MoreLike JB Hi-Fi (JBH), Harvey Norman (HVN) is riding the collapse of smaller rival, Dick Smith, very nicely.
Read MoreHarvey Norman’s (HVN) big institutional shareholders appear to be very happy and very contented, judging by the lack of action at the top of the share register.
Read MoreHarvey Norman (HVN) reported a bumper result for the year to June, sending the shares up to their highest level for more than 8-years.
Read MoreInvestors took a dim view of yesterday’s surprise announcement that furniture and appliances retailer Harvey Norman (HVN) was moving into dairy farming and cattle breeding.
Read More