Harvey Norman releases figures early

harvey norman bondiElectronics and furniture multi-national, Harvey Norman, has seen franchisee sales rise across its brands by 5.5 per cent over the last ten months, confirmed in an unscheduled announcement issued yesterday.

The move echoes that of fellow retail giant Premier Investments and veteran Solomon Lew, who also recently released sales figures prematurely, after “recent press speculation around 1H17 earnings risks for retailers in Australia.”

Comparable aggregate sales across Harvey Norman , Domayne and Joyce Mayne franchisees were up 4.8 per cent, compared to the ten months ended April last year.

In its statement, the retailer asserted sales made by franchisees are not made by Harvey Norman Holdings Limited or controlled entities.

During the period, two Harvey Norman and one Domayne branded franchised complexes  were opened, and one Harvey Norman branded franchised complex was closed.

 

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