Harvey Norman suffers fall in profits

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Harvey Norman suffers fall in profits
Feb 25, 2011 2:08 PM (17 hours ago)

Retailer Harvey Norman has suffered a 16.5 percent drop in first half profits
over the previous corresponding period,
the company reported today.

Net profit after tax was $131.67 million compared with $158.86 million the year
prior, a decrease of 17.1 percent.

Chairman Gerry Harvey blamed the profit slump on price deflation in key
categories driven by the high Australian dollar,
bad weather and costs incurred from buying Clive Peeters.

http://www.itnews.com.au/News/249330,harvey-norman-suffers-fall-in-profits.aspx

Hmm... He says nothing about his support of the 10% GST import issue, as having
any effect.

Cheers Don...

===============


--
Don McKenzie

Site Map:            http://www.dontronics.com/sitemap
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Re: Harvey Norman suffers fall in profits

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over the previous corresponding period,
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having any effect.

Its bloody unlikely that had any measurable effect.



Re: Harvey Norman suffers fall in profits
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over the previous corresponding period,
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http://www.itnews.com.au/News/249330,harvey-norman-suffers-fall-in-profits.aspx
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having any effect.
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article quotes:
"first half profits over the previous corresponding period"

If this is a 3 or 6 month period from last year, then it wouldn't have covered
the time when Gerry made the GST
statements, and got the back lash and threats.

The other side of the coin is there must be massive sales of white goods,
furniture, and other gear because of the
massive losses during the recent floods and cyclone.

So again, one may well negate the other somewhat.

His profit could even be well up this quarter.

Cheers Don...

=======================


--
Don McKenzie

Site Map:            http://www.dontronics.com/sitemap
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Re: Harvey Norman suffers fall in profits
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http://www.itnews.com.au/News/249330,harvey-norman-suffers-fall-in-profits.aspx

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having any effect.

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Yes, but a hell of a lot more happened than just the GST import issue between
those.

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It has to be 6 months to be the first half.

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got the back lash and threats.

A hell of a lot more than just that happened between those two periods.

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furniture, and other gear because of the
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Yes, but that wont be showing up in the results just reported.

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You havent established that the GST campaign had any measurable effect whatever.

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Yep.



Re: Harvey Norman suffers fall in profits
On Sat, 26 Feb 2011 07:39:48 +1100, "Rod Speed"

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over the previous corresponding period,
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http://www.itnews.com.au/News/249330,harvey-norman-suffers-fall-in-profits.aspx
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having any effect.
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Possibly not, but one effect of his rantings was to show people
how to buy over the internet (both domestic and overseas sites)
at much lower prices than going to HN. His foot must be hurting
from the bullet wound.

Pete


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http://www.itnews.com.au/News/249330,harvey-norman-suffers-fall-in-profits.aspx

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Certainly not.


Nope, fuck all of what HN flogs is viable to buy over the net.

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There is no bullet wound, just Gerry with egg on his face, again.



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Computer stuff, camera, mobiles, small household appliance,
flooring/carpets as just some of the items at the local that could be
easily purchased over the net.

The other bulky goods wouldn't be worth it.

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Like I said, fuck all of HN's turnover.

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purchased over the net.

Just another of your pig ignorant lies.

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What I said, fuckwit.



Re: Harvey Norman suffers fall in profits
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Oh, you know the break down do you?
Strange that for space isn't proportional.
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purchased over the net.
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Obviously haven't looked closely at some of the "modern" flooring options.

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Yep.


Not strange at all.

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easily purchased over the net.

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Wrong, as always.



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so it had nothing to do with buying online. He finally admits that he
can no longer stand the competition.

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If you'd paid attention to what he actually said, rather than the
hysterical media response you would know that he thought that his
operation could compete with overseas GST free sales.
What he stated was his opinion that allowing overseas sites to sell into
Australia GST free was unfair.
He also said that some importers were rorting the import rules using
multiple small orders.
Another one of his points was that the Government might have to look at
this area because as time goes on they will be forgoing a lot of tax
receipts.

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Yes to all of that.

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area because as time goes on they will be
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This one cant fly, whats practical to post/courier isnt that big a part of the
turnover that govt taxes and there is the cost of charging the GST on
the <1K$ items that has to be offset too when it isnt feasible to have
the retailler do the GST charging with imports.



Re: Harvey Norman suffers fall in profits
like i said ,  how is  the post , customs etc.,..... gonna know its a ebay
item , or that its a  " GIFT "


MK


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Re: Harvey Norman suffers fall in profits

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item , or that its a  " GIFT "

Like I said, from who sent it and whats included packing slip etc wise.


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no longer stand the competition.

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could compete with overseas GST free
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the turnover that govt taxes and there is
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it isnt feasible to have the retailler
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Re: Harvey Norman suffers fall in profits
ummm no !!!!

like i said , if any body  sends a  item  that someone brought from ebay ,
THEY  DONT  label it ebay , they have to  put the  persons name and type of
item i.e :  spark plugs......



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Re: Harvey Norman suffers fall in profits
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  so by marking those car parts  igniters of the tiny percentage that is
manually checked maybe a  few percent of which gets inspection we can
reasonably expect igniters to pass without comment being under the cost
limit
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SO your very circular argument is wasted

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We'll see...

DONT label it ebay , they have to put the
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Irrelevant to what is being discussed, stupid.


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item , or that its a  " GIFT "

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operation could compete with overseas GST free
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the turnover that govt taxes and there
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URL?

Re: Harvey Norman suffers fall in profits
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He commented numerous times in TV interviews after last years AGM.
To get an idea of his thinking at the time he gave an interview on
Switzer before the AGM.
http://www.switzer.com.au/video/gerry-harvey

Some news reports edited down his comments for print.
http://www.theage.com.au/business/gerry-harvey-calls-for-gst-on-online-purchases-20101123-1850x.html

"The federal government should place a good and services tax on products
bought from overseas online retailers, Harvey Norman chief executive
Gerry Harvey says.

Mr Harvey said local retailers were at an ‘‘unfair disadvantage’’ in
competing against goods bought from overseas.

Australians can buy goods online from overseas and not pay duty for
products under $1000.
Advertisement: Story continues below

‘‘The fact that people say ... it is too hard - that is bulls...,’’ Mr
Harvey said in a response to a question at the company’s annual general
meeting in Sydney.

‘‘Other countries do it. We can do it.’’"

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