Harvey Norman | A1 RICHMOND ROAD | |
HOMEBUSH WEST N.S.W. 2140 | ||
Holdings Limited | LOCKED BAG 2 | |
SILVERWATER DC, N.S.W 1811 | ||
A.C.N. 003 237 545 | Telephone: (02) | 9201 6111 |
Facsimile: (02) | 9201 6250 |
24 November 2021
Australian Securities Exchange Limited
Exchange Centre
20 Bridge Street
SYDNEY NSW 2000
RETAIL TRADING UPDATE:
AGGREGATED SALES REVENUE FOR THE PERIOD
1 July 2021 to 21 November 2021 vs 1 July 2020 to 21 November 2020
DOWN -8.8%
AGGREGATED SALES REVENUE FOR THE PERIOD
1 July 2021 to 21 November 2021 vs 1 July 2019 to 21 November 2019
UP 16.9%
The Directors of Harvey Norman Holdings Limited announce that the aggregated sales revenue from Harvey Norman® wholly-ownedcompany-operated stores in New Zealand, Slovenia, Croatia, Ireland and Northern Ireland, majority-owned controlled company-operated stores in Singapore and Malaysia, and from independent Harvey Norman®, Domayne® and Joyce Mayne® branded franchised complexes in Australia* (Aggregated Sales) decreased by -8.8%for the period 1 July 2021 to 21 November 2021 when compared to Aggregated Sales for the period 1 July 2020 to 21 November 2020. Comparable Aggregated Sales for the period 1 July 2021 to 21 November 2021 when compared to the previous corresponding period, decreased by -9.6%.
Aggregated Sales have been negatively affected by a 2.9% depreciation in the Euro (€), a 1.7% depreciation in the Singaporean dollar ($SGD) and a 2.9% depreciation in the Malaysian Ringgit (MYR) offset by a 2.7% appreciation in the New Zealand dollar ($NZD) and a 3.0% appreciation in the UK Pound (£GBP) for the period 1 July 2021 to 21 November 2021 compared to the period 1 July 2020 to 21 November 2020.
Aggregated Sales increased by 16.9%for the period 1 July 2021 to 21 November 2021 when compared to Aggregated Sales for the period 1 July 2019 to 21 November 2019. Comparable Aggregated Sales for the period 1 July 2021 to 21 November 2021 when compared to the period 1 July 2019 to 21 November 2019, increased by 15.4%.
* Sales made by franchisees in Australia are not made by Harvey Norman Holdings Limited or its controlled entities.
During the current period, two new franchised complexes were opened in Murwillumbah, New South Wales (opening delayed to September 2021 due to NSW lockdowns) and in Port Pirie, South Australia (opened 11 November 2021). There were no new company-operated store openings or closures in overseas regions.
UNAUDITED PRELIMINARY PROFIT BEFORE TAX & NON-
CONTROLLING INTERESTS for the consolidated entity for the period 1 July 2021 to 31 October 2021 vs 1 July 2020 to 31 October 2020
DOWN -35.5%
and
UP 70.1%
when compared to the period 1 July 2019 to 31 October 2019
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Unaudited preliminary accounts for the consolidated entity for the period 1 July 2021 to 31 October 2021 indicate profit before tax and non-controlling interests of $217.42 million compared to $337.11 millionfor the period 1 July 2020 to 31 October 2020, a decrease of approximately -35.5%.
When compared to profit before tax and non-controlling interests for the period 1 July 2019 to 31 October 2019 of $127.84 million, unaudited preliminary profit of $217.42 million for the period 1 July 2021 to 31 October 2021 has increased by approximately 70.1%.
This disclosure is not intended to constitute earnings guidance. The Company does not provide earnings guidance. The COVID-19 pandemic has caused, and continues to cause, great uncertainty about the future economy.
AGGREGATED SALES REVENUE BY COUNTRY
Aggregated Sales increase / (decrease) in Australian Dollars $A - TOTAL SALES:
Aggregated Sales increase / (decrease) from 1 July 2021 to 21 November 2021 vs 1 July 2020 to 21 November 20201 and 1 July 2021 to 21 November 2021 vs 1 July 2019 to 21 November 2019
(% increases have been calculated in Australian Dollars $A)
- comparable sales growth has not been adjusted for the temporary closures mandated by each local government as a result of their COVID-19 Response
COUNTRY | 1 July 2021 to 21 November 2021 | 1 July 2021 to 21 November 2021 | ||||||
vs | vs | |||||||
1 July 2020 to 21 November 2020 | 1 July 2019 to 21 November 2019 | |||||||
Total | Comparable | Total | Comparable | |||||
% | % | % | % | |||||
Australian Franchisees | (-11.3) | (-11.1) | 15.0 | 16.1 | ||||
New Zealand | (-5.3) | (-5.7) | 13.4 | 12.1 | ||||
Slovenia & Croatia | 2.7 | (-4.1) | 26.4 | 18.0 | ||||
Ireland | 5.5 | 1.3 | 71.8 | 55.6 | ||||
Northern Ireland | 5.8 | 5.8 | 23.6 | 23.6 | ||||
Singapore | 4.9 | (-2.3) | 8.0 | (-3.9) | ||||
Malaysia | (-15.1) | (-24.6) | (-9.4) | (-29.2) |
Aggregated Sales increase / (decrease) in Local Currencies - TOTAL SALES:
Aggregated Sales increase / (decrease) from 1 July 2021 to 21 November 2021 vs 1 July 2020 to 21 November 20201 and 1 July 2021 to 21 November 2021 vs 1 July 2019 to 21 November 2019
(% increases have been calculated in local currencies)
- comparable sales growth has not been adjusted for the temporary closures mandated by each local government as a result of their COVID-19 Response
COUNTRY | 1 July 2021 to 21 November 2021 | 1 July 2021 to 21 November 2021 | |||||||
(% increase calculated in | vs | vs | |||||||
local currencies) | 1 July 2020 to 21 November 2020 | 1 July 2019 to 21 November 2019 | |||||||
Total | Comparable | Total | Comparable | ||||||
% | % | % | % | ||||||
Australian Franchisees | $A | (-11.3) | (-11.1) | 15.0 | 16.1 | ||||
New Zealand | $NZD | (-7.8) | (-8.1) | 11.9 | 10.6 | ||||
Slovenia & Croatia | €Euro | 5.9 | (-1.1) | 29.0 | 20.5 | ||||
Ireland | €Euro | 8.9 | 4.5 | 75.6 | 59.0 | ||||
Northern Ireland | £GBP | 3.0 | 3.0 | 21.3 | 21.3 | ||||
Singapore | $SGD | 6.8 | (-0.6) | 14.5 | 1.9 | ||||
Malaysia | MYR | (-12.7) | (-22.6) | (-2.3) | (-23.6) |
Rolling lockdowns in most States and Territories of Australia have affected sales in the months of July 2021 through to November 2021, even though Contactless Click & Collect and home delivery were operating for customers from 194 Australian franchised complexes. Over 15 million people, or approximately 58% of the Australian population, were in lockdown from July 2021 until the respective State Governments eased lockdown restrictions upon reaching certain vaccination milestones.
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The mandatory temporary COVID-19 closures imposed by each local government from 1 July 2021 to 21 November 2021 are outlined in Table 1 for Australian Franchised Complexes and Table 2 for Overseas Company-Operated Stores below. Comparable sales in the previous corresponding period were not adjusted for the effect of these mandated temporary closures.
TABLE 1 AUSTRALIA: Government Mandated Temporary Closure Dates | ||||||||||||||
1 July 2021 to 21 November 2021 | ||||||||||||||
Affected Product Category | Date | Date | ||||||||||||
Closed | Re-opened | |||||||||||||
Australian Franchised Complexes: | ||||||||||||||
39 Franchised Complexes | All product categories in the 39 Harvey Norman® | 16/07/21 | 28/07/21 | |||||||||||
and Domayne® franchised complexes across VIC | ||||||||||||||
All product categories in the 17 Harvey Norman® | ||||||||||||||
17 Franchised Complexes | and Domayne® franchised complexes in greater | 06/08/21 | 29/10/21 | |||||||||||
Melbourne, VIC | ||||||||||||||
22 Franchised Complexes | All product categories in the 22 Harvey Norman® | 06/08/21 | 10/08/21 | |||||||||||
From | ||||||||||||||
franchised complexes across regional VIC | 21/08/21 | |||||||||||||
10/09/21 | ||||||||||||||
1 Franchised Complex | All product categories in the Harvey Norman® | 15/09/21 | 23/09/21 | |||||||||||
Franchised | franchised complex at Ballarat | |||||||||||||
Complexes in | ||||||||||||||
All product categories in the 2 Harvey Norman® | ||||||||||||||
Victoria (VIC) | ||||||||||||||
2 Franchised Complexes | franchised complexes in the City of Greater | 20/09/21 | 27/09/21 | |||||||||||
Geelong | ||||||||||||||
3 Franchised Complexes | All product categories in the 3 Harvey Norman® | 29/09/21 | 06/10/21 | |||||||||||
franchised complexes in the City of Latrobe | ||||||||||||||
1 Franchised Complex | All product categories in the Harvey Norman® | 01/10/21 | 09/10/21 | |||||||||||
franchised complex at Shepparton | ||||||||||||||
1 Franchised Complex | All product categories in the Harvey Norman® | 10/10/21 | 22/10/21 | |||||||||||
franchised complex at Mildura | ||||||||||||||
Online Trade | Online permitted - all product categories | open | ||||||||||||
Furniture & bedding categories in the 10 Harvey | 20/07/21 | 28/07/21 | ||||||||||||
Franchised | 10 Franchised Complexes | Norman® franchised complexes in SA | ||||||||||||
Complexes in | Computer & electrical categories in the 10 Harvey | |||||||||||||
South | 21/07/21 | 23/07/21 | ||||||||||||
Norman® franchised complexes in SA | ||||||||||||||
Australia (SA) | ||||||||||||||
Online Trade | Online permitted - all product categories | open | ||||||||||||
Furniture & bedding categories in the 29 Harvey | ||||||||||||||
Norman®, Domayne® and Joyce Mayne® | ||||||||||||||
franchised complexes across Sydney, Blue | 18/07/21 | 11/10/21 | ||||||||||||
Mountains, Central Coast, Wollongong & | ||||||||||||||
29 Franchised Complexes | Shellharbour LGAs of NSW | |||||||||||||
Computer & electrical categories in the 29 Harvey | ||||||||||||||
Norman®, Domayne® and Joyce Mayne® | ||||||||||||||
Franchised | franchised complexes across Sydney, Blue | 24/07/21 | 11/10/21 | |||||||||||
Mountains, Central Coast, Wollongong & | ||||||||||||||
Complexes in | ||||||||||||||
Shellharbour LGAs of NSW | ||||||||||||||
New South | ||||||||||||||
Wales (NSW) | All product categories in the 12 Harvey Norman® | From | From | |||||||||||
12 Franchised Complexes | and Domayne® franchised complexes within | |||||||||||||
05/08/21 | 11/09/21 | |||||||||||||
specific regional NSW LGAs | ||||||||||||||
All product categories in the 30 Harvey Norman®, | ||||||||||||||
30 Franchised Complexes | Domayne® and Joyce Mayne® franchised | From | From | |||||||||||
complexes within the remaining regional NSW | 15/08/21 | 11/09/21 | ||||||||||||
LGAs | ||||||||||||||
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TABLE 1 AUSTRALIA: Government Mandated Temporary Closure Dates | ||||||||||||||
1 July 2021 to 21 November 2021 (continued) | ||||||||||||||
Affected Product Category | Date | Date | ||||||||||||
Closed | Re-opened | |||||||||||||
Australian Franchised Complexes: | ||||||||||||||
2 Franchised Complexes | All product categories in the 2 Harvey Norman® | 16/09/21 | 23/09/21 | |||||||||||
franchised complexes at Albury and Lismore | ||||||||||||||
1 Franchised Complex | All product categories in the Harvey Norman® | 18/09/21 | 01/10/21 | |||||||||||
franchised complex at Young | ||||||||||||||
All product categories in the 2 Harvey Norman® | ||||||||||||||
Franchised | 2 Franchised Complexes | franchised complexes at Murwillumbah and | 22/09/21 | 29/09/21 | ||||||||||
Tweed Heads | ||||||||||||||
Complexes in | ||||||||||||||
New South | All product categories in the 2 Harvey Norman® | From | ||||||||||||
Wales (NSW) | 2 Franchised Complexes | franchised complexes at Port Macquarie and | 29/09/21 | |||||||||||
05/10/21 | ||||||||||||||
(continued) | Muswellbrook | |||||||||||||
1 Franchised Complex | All product categories in the Harvey Norman® | 03/10/21 | 11/10/21 | |||||||||||
franchised complex at Lismore | ||||||||||||||
All product categories in the 3 Harvey Norman® | ||||||||||||||
3 Franchised Complexes | franchised complexes at Gunnedah, Taree and | 04/10/21 | 11/10/21 | |||||||||||
Forster | ||||||||||||||
Online Trade | Online permitted - all product categories | open | ||||||||||||
Franchised | All categories at the Harvey Norman® Fyshwick | |||||||||||||
Complexes in | ||||||||||||||
2 Franchised Complexes | complex and the furniture & bedding categories | 13/08/21 | 22/10/21 | |||||||||||
Australian | at the Domayne ® Fyshwick complex | |||||||||||||
Capital | ||||||||||||||
Territory | Online Trade | Online permitted - all product categories | open | |||||||||||
(ACT) | ||||||||||||||
Franchised | 2 Franchised Complexes | All product categories at the Harvey Norman® | 16/08/21 | 19/08/21 | ||||||||||
Complexes in | and Joyce Mayne® Darwin complexes | |||||||||||||
Northern | ||||||||||||||
Territory (NT) | ||||||||||||||
Online Trade | Online permitted - all product categories | open | ||||||||||||
Franchised | All product categories in the 4 Harvey Norman® | |||||||||||||
4 Franchised Complexes | and Domayne® franchised complexes across | 16/10/21 | 19/10/21 | |||||||||||
Complexes in | ||||||||||||||
Southern Tasmania | ||||||||||||||
Tasmania | ||||||||||||||
(TAS) | ||||||||||||||
Online Trade | Online permitted - all product categories | open | ||||||||||||
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TABLE 2 OVERSEAS: Government Mandated Temporary Closure Dates | |||||||||||||||
1 July 2021 to 21 November 2021 | |||||||||||||||
Affected Product Category | Date | Date | |||||||||||||
Closed | Re-opened | ||||||||||||||
Overseas Company-Operated Stores: | |||||||||||||||
9 Retail Stores and 4 | All product categories in the 9 retail stores | 18/08/21 | 10/11/21 | ||||||||||||
Outlets - Auckland | and 4 outlets in Auckland. | ||||||||||||||
Online permitted - all product categories for | 21/09/21 | ||||||||||||||
(Click & Collect | |||||||||||||||
Online Trade - Auckland | contactless home delivery only. Click & Collect | 18/08/21 | |||||||||||||
permitted from | |||||||||||||||
not permitted. | |||||||||||||||
22/09/21) | |||||||||||||||
New Zealand | |||||||||||||||
27 Retail Stores and 3 | Commenced | ||||||||||||||
All product categories in the 27 retail stores and 3 | limited opening | ||||||||||||||
Outlets - Outside | 18/08/21 | ||||||||||||||
outlets outside of Auckland. | to customers | ||||||||||||||
Auckland | |||||||||||||||
from 07/09/21 | |||||||||||||||
Online permitted - all product categories for | 31/08/21 | ||||||||||||||
Online Trade - Outside | (Click & Collect | ||||||||||||||
contactless home delivery only. Click & Collect | 18/08/21 | ||||||||||||||
Auckland | permitted from | ||||||||||||||
not permitted. | |||||||||||||||
01/09/21) | |||||||||||||||
Commenced | |||||||||||||||
26 Retail Stores | All product categories in the 26 retail stores in | 01/06/21 | limited opening | ||||||||||||
Malaysia | Malaysia | to customers | |||||||||||||
from 21/08/21 | |||||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||
14 Retail Stores | Retail trade permitted - all product categories | open | |||||||||||||
Singapore | |||||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||
Republic of | 15 Retail Stores | Retail trade permitted - all product categories | open | ||||||||||||
Ireland | |||||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||
Northern | 2 Retail Stores | Retail trade permitted - all product categories | open | ||||||||||||
Ireland | |||||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||
Slovenia | 5 Retail Stores | Retail trade permitted - all product categories | open | ||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||
Croatia | 2 Retail Stores | Retail trade permitted - all product categories | open | ||||||||||||
Online Trade | Online permitted - all product categories | open | |||||||||||||
This document was authorised to be provided to the ASX by the Board of Directors of Harvey Norman Holdings Limited.
Yours faithfully
Chris Mentis
Company Secretary / CFO
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Harvey Norman Holdings Ltd. published this content on 24 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 November 2021 22:09:05 UTC.