Harvey Norman's first half result for the 6 months to 31 December 2016 released today brings with it a series of impressive numbers, with the New Zealand market particularly appearing to be ahead of market growth:
The New Zealand operation’s sales (in local currency) were +10.6% and comps +6.5%, both figures handily outpacing the brand’s primary Australian marketplace.
Compared to its peers for the same period, JB Hi-Fi may have showed bigger overall top line growth (and slightly better bottom line gains), but the New Zealand Harvey Norman result handily betters JB Hi-Fi's (see the result here).
Regional Harvey Norman gains and losses in sales and comps for the half were as follows:
H1 FY2017 Sales (AU$) |
Aggregated |
Comparable |
Overall |
+5.9% |
+5.4% |
Australian franchisees |
+5.2% |
+4.7% |
New Zealand |
+15.5% |
+11.1% |
Slovenia & Croatia |
+3.6% |
+3.8% |
Ireland |
–3.4% |
–3.7% |
Northern Ireland |
+33.8% |
+13.5% |
Singapore |
+4.2% |
+21.5% |
Malaysia |
–0.7% |
–5.8% |
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