Retailer wrap: Harvey Norman posts positive results despite pessimism

Compiled By Keri Algar

SYDNEY, NSW: The Thorn Group is still riding high after last week’s number one placing in the listed retailer report, marked by the announcement that it will dump the Big Brown Box in favour of potentially more profitable ventures. This week's share price was up almost 10 per cent.

Harvey Norman was the only other retailer to post a positive result from last Friday’s summary, in spite of Gerry Harvey’s forthright comments regarding a pessimistic selling period ahead.

This week’s standings (last Friday’s close in brackets).

Harvey Norman: $3.03 ($2.99): +1.34%
JB Hi-Fi: $18.30 ($18.56): -1.40%
Thorn Group: $1.84 ($1.68): +9.55%
David Jones: $4.42 ($4.49): -1.56%
Woolworths: $26.40 ($26.95): -1.15%
Wesfarmers: $31.73 ($32.26): -1.64%
Myer: $3.56 ($3.72): -4.30%

Prices correct as of 3pm.
 

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