Harvey Norman Sees Sales And Profits Slide

Dynamic Business:

Harvey Norman’s revenue fell 3.8 percent in the three months to September 30, with its Australian, Kiwi, Slovenian and Irish franchises generating sales of $1.48 billion.

Harvey Norman’s Australian franchises saw a 2.9 percent decrease in total sales for the first quarter of the financial year, compared to the 2011 first quarter, and a 2.8 percent decrease between the same periods for like for like sales.

Comparatively, New Zealand saw a 10.2 percent decline in total sales for the 2012 first quarter against the 2011 first quarter, and a 10.6 per cent drop within the same quarters for Like for Like sales.