Ongoing macroeconomic headwinds have buffeted Harvey Norman's profits but the retailer insists its property portfolio keeps its balance sheet in good health.
Harvey Norman has posted a fall in interim earnings, but says the result still represents solid growth for the retailer, despite a cut in the dividend payout.
Retailer Harvey Norman has experienced a revenue boost since the start of the new financial year, putting it on course for a strong rise in pre-tax profit.
Online retailer Kogan.com has recorded surging sales and is raising up to $115 million through a share sale to institutional and retail investors, while electronics and furniture retailer Harvey Norman also reported its sales were up this morning.
The Australian share market has suffered its worst day in over four years, closing the day at a six-month low amid a growing panic the coronavirus outbreak will trigger a global recession.
What Christmas gave to Australian retailers, the bushfires are taking away, but there could be worse to come for shopkeepers and shopping centre owners when the latest international trends wash up here.
Bentley-based Quantify Technology has entered into a three-year agreement with Harvey Norman's commercial division, which will see the franchise become the company's exclusive distributor in the eastern states.
Harvey Norman has lifted first-half profit on a strong performance at its overseas ventures, but sales at the company's Australian franchises were weak.
The Supreme Court has this week dismissed two separate appeals, by manufacturer Best Bar Reinforcements and a Harvey Norman franchisee, finding both companies were liable for workplace incidents.
Harvey Norman's full-year profit has slumped 16.4 per cent to $375.4 million due to property revaluations and the furniture and electrical goods retailer's failed dairy farming investment.
Furniture and electronics retailer Harvey Norman's half-year net profit has slumped with franchisees' earnings falling amid a souring of the group's dairy investments.
Perth company Quantify Technology Holdings says it has the potential to reap up to $30 million in sales a year through a new agreement with retailer Harvey Norman.
Two days after Harvey Norman rejected a claim that the Australian Securities and Investments Commission was reviewing its accounts, the retail giant has said the corporate watchdog is undertaking a “routine review”.
The Australian Shareholders' Association is calling for Gerry Harvey to be removed as Harvey Norman executive chairman after a heated exchange with the retail veteran about the company's accounts.
A national boom in housing construction and renovation has driven a surge in Harvey Norman's furniture, whitegoods and homewares' sales, offsetting a weak result in Western Australia due to the the mining downturn.
One part of the Dick Smith business has been snapped up by an entity affiliated with Harvey Norman, although employees will still need to wait for a liquidation process to receive overdue entitlements.
The Dick Smith chain of technology and electrical goods shops is probably a poor example of the wider problems confronting retailing but its collapse this week is a reminder that the shake-out which has rattled the retail world over the past few years is far from over.
John Hughes has convinced a lot of people to buy his cars over the years, but will investors be similarly enthused about his plan to float the business?
Harvey Norman says it will close three of its Rick Hart stores in Western Australia after posting a 1.7 per cent increase in global sales for the year to June 30, earning $6.18 billion.
