Harvey Norman sales in New Zealand fall

Australian-based retailer Harvey Norman has posted a 3.9 percent fall in sales in New Zealand in the year to June 30 while sales in Australia rose 3.3 percent when reported in local currencies.

Overall, the retailer posted a 1.7 percent increase in sales to $A6.18 billion ($NZ7.6 billion), but like-for-like sales fell 3.6 percent. The company said sales were negatively affected by deterioration in the NZ dollar against the Australian dollar and other currency movements.

New Zealand sales, reported in New Zealand dollars, rose 4.6 percent from a year ago in the first quarter, fell 10.4 percent in the second quarter, fell 2.2 percent in the third quarter and fell 6.2 percent in the fourth quarter.




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