Harvey Norman's Easter Rising

Written by Oonagh Reidy     19/04/2013 | 11:09 | Category: HOME OFFICE

Harvey sales Easter rising. Retailer says Q3 sales were down but rose including Easter trading.

Harvey Norman 
Harvey Norman third quarter sales fell 11.5% in Oz, it announced this week. Sales in comparable store basis also fell 8.1%  Q3 for the sales period 01 Jan to 31 Mar 2013.  

But the retail giant said Australian sales rose 2.1% (3.4% like-for-like) when adjusted for Easter trading to 9th April compared to the same trading period last year. 

The company statement also noted February traded one less day this year compared to the leap year in 2012.

Harvey Norman sales in several other countries also fell including NZ -1.3%, Ireland -2.9% although rose in Croatia +26% and Northern Ireland +6%.  

Global sales totalled $1.28 billion - up 0.6% - and like for like sales rose 2%  

But total Aussie sales for the nine months to March 31 fell by 6%.  

The company also suffered due to the "stubbornly high" Aussie dollar, it confirmed.   

"Even though technology categories continue to be challenged, the market appears to be stabilising despite the stubbornly high Australian dollar."

Home appliances and furniture and bedding continue to perform solidly, the electronics giant said, which suggests other categories like TV, audio may be more challenging, with the TV market in particular highly competitive and hit by price deflation, in recent times.  

The retailer's discontinued Clive Peeters and Rick Hart business also fell by 8.7% on a comparable store basis.

In the nine months to 31 March,  Harvey Norman shut 11 stores, opened 6 complexes, and opened one Domayne complex.