Harvey Norman Hit Again Sales Fall 2.8%

Retailer Harvey Norman has found themselves under further pressure will sales falling an additional 2.8 per cent. Margins are also being affected, however consumer electronics sales still remain strong when compared to other categories.

 The sales decline, compared with the corresponding period last year, was for the 28 days to November 9. The weekly figure deteriorated from the equivalent figure to November 2, which showed a 0.6 per cent decline.

The Sydney-based retailer has been releasing monthly like-for-like written sales for each of the past five weeks. Harvey Norman has been publishing the figures to indicate trends in the retail market, because the chain’s sales are indicative of the industry as a whole. Harvey Norman operates franchised stores in every state and town of significance in Australia.