Harvey thanks currency moves and Ireland for 6% sales boost Q1 2016

Harvey Norman has positive currency movements to thank for the 6.1% increase in sales year-on-year for the company totalling $1.5 billion for the three months ended 30 September 2015, while like-for-like sales increased by 7%. Northern Ireland was the stand-out performer for the retailer with sales soaring by 44% year-on-year in Q1 2016.

gerry harvey

Global sales were positively affected by a 6.9% appreciation in the Euro, a 18.3% appreciation in the UK Pound, and negatively affected by a 1.5% devaluation in the NZ dollar for the three months ended 30 September 2015 compared to the three months ended 30 September 2014.

Sales in Australia saw 5.7% growth year-on-year, while New Zealand sales grew 3.2%. Ireland experienced almost 22% growth and Slovenia and Croatia saw an increase of 10.4%.

During the quarter ended September 30 2015 two Harvey Norman and one Joyce Mayne franchised complexes were closed.

Tags:

Leave a Reply

Your email address will not be published. Required fields are marked *

CAPTCHA

*