Harvey Norman profit tumbles 35 per cent from pandemic high
Inside Retail
NOVEMBER 23, 2021
Harvey Norman has been hit by falling sales and depreciating exchange rates, with global sales falling 8.8 per cent during the period between July and November, and unaudited gross profit falling 35.5 per cent between July and October, compared to the same periods of last year. According to the department store business, exchange rates across Europe, Singapore and Malaysia hurt the business’ aggregated sales, and were only partially offset by growth in the New Zealand dollar and the UK pound.
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