Aggregate sales for Harvey Norman franchisees in Australia increased 0.6% and comparable sales inched up 0.4% for the year to 31 October 2019. This is an improvement from the year to 30 June 2019 when aggregate sales declined 1.8% and comparable sales were down 0.9%.
Aggregate sales grew in all markets, except for Singapore. Malaysia was the strongest performer with total sales growth of 17.1%, followed by Northern Ireland with growth of 10.9%.
For the first four months of FY20 – 1 July 2019 to 31 October 2019 – Harvey Norman reported group aggregate sales of $2.44 billion, an increase of 2% compared to the previous corresponding year. Comparable sales were up 1.7%.
In FY20, one Harvey Norman franchise has opened, and one franchise has closed in Australia.
Following the release of Harvey Norman’s FY19 results, Appliance Retailer spoke to executive director, David Ackery and chairman, Gerry Harvey about what the future holds for the retailer, including a greater focus on last mile delivery, premium refits for key store locations and the recent introduction of buy now pay later service via LatitudePay.