- Harvey Norman says Australian franchisee sales fell 1.3% between July 1 and November 23.
- This represented a 0.2% drop on a comparable basis.
- Wholly-owned company-operated stores, in Australia and overseas, reported sales of $2.88 billion, a 2.7% rise. Comparable store sales were up 3%.
Sales at Harvey Norman’s Australian franchisees fell 1.3%, the biggest generator of revenue at Harvey Norman branded stores, in the first part of the 2019 financial year.
The company, releasing sales numbers for July 1 to November 23 ahead of its AGM, noted that “sales made by franchisees in Australia are not made by Harvey Norman Holdings Limited or controlled entities”.
On a comparable basis, the fall was just 0.2%. Harvey Norman didn’t give a dollar value for franchisee sales.
In the 2018 financial year, aggregated Australian franchisees sales were reported to be $5.76 billion, up 2.6%. Comparable sales were 2.2% higher.
However, profit from franchising operations, with 540 franchisees, in 2018 was down 7.2% to $282.54 million.
Today, Harvey Norman report a rise in sales from July to November 23 for wholly-owned company-operated stores.
The home and lifestyle retailer reported aggregated sales from wholly-owned company-operated stores in New Zealand, Slovenia, Croatia, Ireland and Northern Ireland, majority-owned stores in Singapore and Malaysia, and from independent Harvey Norman, Domayne and Joyce Mayne branded complexes was $2.88 billion, a 2.7% rise.
Comparable aggregated Sales increased by 3%.
In early trade, Harvey Norman shares were up 2% to $3.07.
Sales reported today by Harvey Norman:
From July to November 23, one Joyce Mayne franchised complex was opened in Australia, one company-operated store was opened in Malaysia and one Harvey Norman franchised complex was closed in Australia.
No company-operated stores were closed.
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