AUSTRALIA’S biggest electrical retailer Harvey Norman took advantage of the collapse of rival Retravision in NSW and continuing strong demand for wide-screen televisions to lift sales nearly 17 per cent in the six months to the end of 2006.
However, sales slowed from the first three months of the financial year for which Harvey Norman reported sales growing at a cracking 18 per cent; and unless the weather warms up, there will soon be discounting on outdoor settings, barbecues and airconditioners.Televisions, laptop computers and iPods were all strong sellers over Christmas and were expected to remain so for the rest of 2006-07, chief operating officer John Slack-Smith said yesterday.
Harvey Norman posted a 16.7 per cent lift in sales to $2.71 billion for the six months to December 31, including a 16 per cent gain in the past three months.
“Despite interest rate hikes, Australian households somehow are able to find the disposable income within their personal budgets for entertainment-based products,” Mr Slack-Smith said.
“The pleasing thing for us is that we really can’t see any end to that growth cycle in the plasma, LCD and technology-based areas.
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