Harvey Norman sales surge


Harvey Norman has showcased the strength of the nation’s furniture, electrical and households goods categories at a time when clothing and apparel chains are mired in recession-like conditions, boasting yesterday in an unscheduled sales update that comparable store sales had bounced 4.8 per cent in the four months to April.

In a short statement to the ASX Harvey Norman, the nation’s biggest furniture and household appliances retailer, said sales for its Australian franchisees under the Harvey Norman, Domayne and Joyce Mayne retail banners had risen 6 per cent in the four-month per­iod and were up 5.5 per cent for the 10 months to April.

On a like-for-like basis, considered a much better indicator of sales strength, sales for the four months to April were up 4.8 per cent. Comparable sales were also up 4.8 for the 10 months.

Although comparable store sales had slowed against the 5.4 per cent sales gain in the first quarter, the most recent performance did improve on the 4.1 per cent recorded in the second quarter.

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