Harvey Norman IT sales grow
- 16 April, 2009 11:40
- Comments 1
Harvey Norman has posted positive sales results for the year to date
ASX-listed retailer, Harvey Norman (ASX: HVN), has posted positive sales results for the year to date, with its IT business leading the way.
The retailer posted a 3.6 per cent increase in sales for the nine months ending March 31.
For the quarter ending March 31, sales from franchised complexes, commercial divisions and other sales outlets increased by 4.9 per cent compared with to the corresponding quarter in 2008.
The group posted similarly positive results earlier in the year, announcing in January, sales for the six months to December 31, 2008, were 3.5 per cent higher than the same period in 2007.
Harvey Norman general manager for computers and communications, Luke Naish, attributed the growth to six months of concentrated re-evaluation to ensure relevance and aggressive marketing strategies.
“The performance of computers exceeded the overall performance by a reasonable distance,” Naish said. “We’ve improved our market share over the last 12 months and are as well placed and comfortable as possible, given the economic conditions.”
Naish also said while April was proving to be a relatively quiet period for sales, some of the Government’s stimulus package handouts were filtering into the stores.
“We have seen some impact,” he said. “I wish it were more – it hasn’t been as substantial as the first stimulus in December, but there has definitely been some more money coming in.”
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Comments
Anonymous
Profits
But still the share price and dividends are minimal, how about Mr Naish address why there is no independent board member in Harvey norman to look after the shareholders interests.
And why dont we ask the question of when they are going to address the overt over-paying of its franchisees, make them all store managers and pay them 100k per year like a more successful competitor does then return the rest of the money to the profit line.Some franchisees spend 3 days a week in the store and take home 400k a year while shareholders get pittance.
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