Harvey Norman crawled into the red zone

New problems for Harvey Norman

In brief: Australia: Harvey Norman quarterly sales declined by 4%. Retailers suffer fiasco.

Another negative came from Australia this morning. Ritaeylery continue to report losses. Harvey Norman reported on the wrong quarter, Harvey Norman profit goes to minus.

Australia’s largest retailer of furniture and electronics Harvey Norman Holdings reported that domestic sales fell in the fourth quarter with the end of June to 4% after the government abolished the incentive program. Sales at stores open at least a year fell 3.4%, while annual sales, including sales in the markets of New Zealand and Europe, increased by 0,8% to A $ 6,03 billion ($ 5.4 billion).

Ukrainian Globalist
2010-07-26 10:43, Economics.

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