Harvey Norman Boss Buys Up As Sales Go Flat

X

One of Harvey’s top bosses has bought 7,450 shares in the retailer.

2011051203253618fda 300x300 Harvey Norman Boss Buys Up As Sales Go Flat
Click to enlarge

Harvey’s Chief Financial Officer and Company Secretary, Chris Mentis, now holds 7,450 shares and 1,000,000 options, the ASX said yesterday.

The total value of this transaction was $19,891.50.

This comes as the retail giant, which has been beseiged by flat retail period, falling margins and profits, which in February fell 16.5 per cent.

This less than spectacular perfomance was blamed on price deflation in key categories, driven by
the strong Australian dollar, a challenging retail environment and
also the extreme weather.

However, it is looking to turn this around and looking to take its business online to restore growth prospects, already jumping on the group buying bandwagon with its Harvey’s Best Buy’s, which it kicked off in March last.

And considering Mentis is the top financial dog, he must know what he’s doing.

Prices of the retailer’s shares has dipped from a high in September last year of $3.95 to an all time low of $2.63 recorded this month.

728x90 7 Harvey Norman Boss Buys Up As Sales Go Flat
HAR0532 SHCHnews PBOX 728x90 Harvey Norman Boss Buys Up As Sales Go Flat
Sony 290ES 728x90 1 Harvey Norman Boss Buys Up As Sales Go Flat
ARL0433 Arlo VDB WF Banner A 728x90 V3 scaled Harvey Norman Boss Buys Up As Sales Go Flat
Incase LeaderBoard 728x90 Harvey Norman Boss Buys Up As Sales Go Flat
728 x 90 1 Harvey Norman Boss Buys Up As Sales Go Flat
PAN1992 MWO Banners LB 728x90px V2 Harvey Norman Boss Buys Up As Sales Go Flat
4SQM banner 728x90px SOUL Harvey Norman Boss Buys Up As Sales Go Flat
728x90 Harvey Norman Boss Buys Up As Sales Go Flat
en us WD Black Banners Portfolio 728x90 Harvey Norman Boss Buys Up As Sales Go Flat


YOU MAY ALSO LIKE