Harvey Norman franchisee sales up 4.8%

For four months to October.

Harvey Norman has reported a 4.8% increase in total sales for its Australian franchisees for the four months ended 31 October, 2017. Sales were up 4% on the previous corresponding period.

In the same period, sales from wholly-owned company-operated stores in New Zealand, Slovenia, Croatia, Ireland and North Ireland, majority-owned controlled company-operated stores in Singapore and Malaysia, and from independent Harvey Norman, Domayne and Joyce Mayne-branded franchised complexes totalled $2.35 billion for the four months ended 31 October, 2017. This was an increase of 4.9% compared to the previous corresponding period.

Sales were positively affected by a 1.9% appreciation in the Euro and negatively affected by a 3.2% devaluation in the New Zealand dollar, a 2.2% devaluation in the UK Pound, a 3.5% devaluation in the Singaporean dollar and a 7.4% devaluation in the Malaysian Ringgit for the four months ended 31 October, 2017 compared to the previous corresponding period.

During the four months ended 31 October, 2017, one company-operated store in Ireland was opened and one company-operated store in Singapore was opened. No franchised complexes in Australia were opened or closed during the current four month period.

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