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news.com.au 24 Nov, 2021 03:15 am

Harvey Norman AGM: Iconic retailer struggles to match Covid spending surge as sales sag

Harvey Norman AGM: Iconic retailer struggles to match Covid spending surge as sales sag
Furniture and electronics empire Harvey Norman has suffered a sales slump as it struggles to match last year’s Covid-fuelled spending surge.

Furniture and electronics empire Harvey Norman has suffered a sales slump as it struggles to match last year’s Covid-fuelled spending surge.Ahead of its 2021 annual general meeting on Wednesday, Harvey Norman revealed sales since July 1 slipped 8.More than 160 of Harvey Norman’s stores across its global network were forced to shut to visitors at some point during that period, although click and collect remained an option for shoppers.Harvey Norman chairman Gerry Harvey.

Picture: Richard Dobson Harvey Norman eventually repaid $6 million of the $22 million it claimed from the Federal Government program, but not before it was dragged over the coals for claiming the payment and pledging to hold onto it even as it significantly boosted profits.Wednesday’s update sent Harvey Norman shares plunging by as much as 5.

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