Harvey Norman's sales defy fall in consumer spending

In a statement to the ASX the directors at Harvey Norman announced that sales from the franchised Harvey Norman stores, commercial divisions and other sales outlets in Australia, New Zealand, Slovenia and Ireland (excluding Singapore) totalled $5.81 billion for the year ended 30 June.

This was increase of 8.7 percent compared to the financial year ended 30 June 2007, which was $5.34 billion.

According to the statement, like for like sales for the year ended 30 June, when compared to 30 June 2007, also increased by 4.4 percent. On a quarterly basis sales from the franchised stores, commercial divisions and other sales outlets across the world (excluding Singapore) totalled $1.43 billion for the fourth quarter ended 30 June.

When compared to sales for the period 1 April 2007 to 30 June 2007 the increase was 5.2 percent, while like for like sales for the fourth quarter ended 30 June – when compared to the same corresponding quarter ended 30 June 2007 – increased three percent.

consumer defy fall finance harvey in normans sales spending