Harvey Norman Holdings Ltd (HVN)
All research reports and stock updates for Harvey Norman Holdings Ltd.
Stock Updates
Research Reports
Slow patch ahead
Harvey Norman franchisees have been caught with too much stock just as sales momentum is heading backwards. The company is losing market share in both furniture and consumer electronics in Australia. But the large investment property portfolio provides downside protection.
Not so comfy
Inflation is helping to keep Harvey Norman’s sales looking healthy. But consumers may eventually tighten belts as household spending comes under pressure due to rising interest rates and higher prices for most goods.
Fade, not flop
Harvey Norman’s earnings will fade over the next two years, but the company is on good shape and still offers value.
Sliding sales, rising margins
The yo-yo effect of lockdowns and recovery is on full display in Harvey Norman’s trading update. Spending is recovering as lockdowns end, setting the company up for a strong 4-month Christmas trading period.