Finance Finance News Harvey Norman looking forward to a good Christmas trading period

Harvey Norman looking forward to a good Christmas trading period

Retailer Harvey Norman posts an increase in sales for the third quarter of 2013.
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The passing of the federal election in September has not encouraged consumers to spend more, says retailer Harvey Norman.

“We have not seen a boost to consumer spending post the federal election but look forward to a good Christmas trading period,” the company said in a statement on Monday.

Harvey Norman said its global sales, excluding Singapore, for the three months to the end of September rose 2.7 per cent to $1.37 billion, compared to the corresponding period one year earlier.

On a like-for-like basis, which considers only those activities that were in effect during both time periods, global sales lifted 4.3 per cent.

The company said global sales were boosted by significant appreciations in foreign currency, including the euro, UK pound and New Zealand dollar.

Harvey Norman’s total quarterly sales rose by 14.2 per cent in Ireland, followed by New Zealand (up 13.1 per cent) and Slovenia/Croatia (up 11.8 per cent).

Sales in Australia rose 1.2 per cent and fell by 53.7 per cent in Northern Ireland.

In 2012, the two company-owned stores in Northern Ireland ceased selling electrical and computer goods and were converted to sell only furniture and bedding.