By Patrick Avenell
Total sales at Harvey Norman’s Australian outlets stabilised during the third quarter of the 2013 financial year, increasing by 0.1 per cent, compared to the previous corresponding quarter.
The period from 1 January to 31 March 2013 was Harvey Norman’s best of the financial year, after declines of 11.5 per cent and 5.8 per cent during the first two quarters. Like-for-like sales decreased by 4 per cent.
“The Australian franchised sales data for the nine months ended 31 March 2013 indicated the following: even though technology categories continue to be challenged, the market appears to be stabilising despite the stubbornly high Australian dollar; [and] home appliances and bedding continue to perform strongly,” said a Harvey Norman spokesperson.
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Globally, excluding Singapore, Harvey Norman sales totalled $1.28 billion during the quarter. Global like-for-like sales were up 2 per cent.
Much of Harvey Norman’s international growth is due to its operations in Slovenia and Croatia, which increased 26.3 per cent in total sales during the quarter. Like-for-like sales, however, went the other way, decreasing by 22 per cent.
The closing of Harvey Norman’s Northern Ireland (UK) AV and IT departments has resulted in a 24.2 per cent increase in its like-for-like sales, while total sales only increased 6.1 per cent. The Republic of Ireland suffered a 2.9 per cent dip in total sales.
So far during this financial year, Harvey Norman has closed 11 ‘Harvey Norman’ stores and opened 6 ‘Harvey Norman’ stores and 1 ‘Domayne’ store.