Harvey Norman franchisees sales up 4.8%

Furniture and consumer electronics retailer Harvey Norman has reported a 4.8 per cent lift in sales across its franchisee network in Australia.

Harvey Norman says sales across its franchisee network in Australia rose 4.8 per cent during the first eight weeks of the current financial year.

This includes its three brands, Harvey Norman, Domayne and Joyce Mayne, with comparable sales up four per cent compared to the same period a year ago.

Harvey Norman released the sales update on Wednesday, just hours before its annual general meeting in Sydney on Thursday.

Total sales from the group's Australian franchisees and its wholly owned stores in New Zealand, Slovenia, Croatia, Ireland and Northern Ireland - plus majority-owned stores in Singapore and Malaysia - hit $2.45 billion during the four months to October 31.

This was up 4.9 per cent compared to the same period a year earlier.

On a constant currency basis, Malaysia was the only one out its seven markets to post a decline in comparable sales, down three per cent.

Slovenia and Croatia reported the group's highest comparable sales growth of 18.5 per cent.


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Source: AAP

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