Smh:
The nation’s biggest electronics and furniture retailer is set to post a profit of up to $180 million for the first half of the year, after achieving record sales for the six months to December 30.
Harvey Norman’s executive chairman, Gerry Harvey, yesterday shrugged off concerns spending would be hit by the market meltdown, saying he was confident retail spending would continue to be strong.
“The available evidence at the moment does not support any form of consumer panic whatsoever,” he said.
Mr Harvey announced sales in the most important trading period of the year, the quarter that includes Christmas, had increased by 13 per cent to $1.65 billion.
Like-for-like sales in the quarter were up 8 per cent compared to the same time last year.
Including sales of $1.39 billion for the first quarter, the six-month sales figure exceeded $3 billion for the first time.
Mr Harvey reaffirmed profit guidance for the half-year of 25 to 30 per cent growth, implying a figure ranging between $166 million and $180 million.
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