# The Harvey Norman Index of Retail Health



## MrBurns (27 February 2009)

Thar she blows - dunno how sales rose and profit dived over 50% but this will translate across all the retail sector, when Harvey sneezes retail gets the plague.




> Harvey Norman profits plunge 56pc
> 
> Retailer Harvey Norman has posted a large fall in half-year profits.
> 
> ...


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## gfresh (27 February 2009)

Maybe he needs to open up a supermarket? Woolworths just posted a 10.3% jump in net profit


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## dalek (27 February 2009)

MrBurns said:


> Thar she blows - dunno how sales rose and profit dived over 50% but this will translate across all the retail sector, when Harvey sneezes retail gets the plague.




Not sure that the Harvey Norman Index is a valid measure. Seems to be a strong retail demand but poor margin control from HN. either that or he is counting on a strong trailing margin from his 1000 day free credit promo.

Also still mystified about the closure of OFIS only 12 weeks after opening in my area ?? I assume all branches are closing ?


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## MrBurns (27 February 2009)

dalek said:


> Not sure that the Harvey Norman Index is a valid measure. Seems to be a strong retail demand but poor margin control from HN. either that or he is counting on a strong trailing margin from his 1000 day free credit promo.
> 
> Also still mystified about the closure of OFIS only 12 weeks after opening in my area ?? I assume all branches are closing ?




Gerry Harvey is a seasoned operator, I just presume if he's down there're all down. he also sells a range of products so it's not just an indicator of one line.

OFIS - just heard about them yesterday, never heard of them before that, trading off the Office Works name.... I've seen cowboys come and go, they probably would have been borderline in good times, no hope in the present climate.


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## dalek (27 February 2009)

OFIS is/was Harvey Norman's tilt at Officeworks. On first glance seems like an expensive dud but how could you tell after only 12 weeks ?
Funny enough the radio and press promotion of it's closing down has been more substantial than his opening advertising campaign. 
Everything 30-50% off clearance, maybe from the same volume over margin philosophy that got the HN chain its result !?


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## Glen48 (27 February 2009)

There was a Gerry Harvey on SBS Insight this week saying it's a good time to buy 5% un employment low IR wonder if he is the same bloke?????


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## Julia (27 February 2009)

Glen48 said:


> There was a Gerry Harvey on SBS Insight this week saying it's a good time to buy 5% un employment low IR wonder if he is the same bloke?????



Yes, Glen, it's indeed the same bloke.  The one who said "what financial crisis".


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## MR. (27 February 2009)

Julia said:


> Yes, Glen, it's indeed the same bloke.  The one who said "what financial crisis".




And that would be the same bloke who said a few weeks ago: 
"We are on the verge of the greatest boom man kind has ever seen"
"Will it happen tomorrow?..... NO...... "
"Will it happen this year or next?..... YES ! ....... "

What are they offering now?  24 months maybe 1000 days interest free?  
Could the debtors be coming to their senses?  
A debt is still a debt even at (zero) interest! 
(nuh, don't be silly)


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## trainspotter (30 March 2011)

If you can't beat them join them !!!!!!!! Backflip of the century IMO.

BILLIONAIRE retailer Gerry Harvey wants the same free kick his overseas competitors are getting from a GST exemption for *online sales*. 

Mr Harvey is one of the backers of an advertising campaign, launched by a group of Australian retailers today, that aims to convince the government to level the playing field against foreign websites offering tax-free goods.

http://www.couriermail.com.au/busin...in-retailing-war/story-e6freqmx-1225981608929

The man who said *online trading was a waste of time *and that the Internet was not the place where people would want to shop is now calling on the Federal Government to introduce GST on goods purchased online for under $1,000 in an effort to slow down a migration by consumers to buying via overseas web sites.

http://www.channelnews.com.au/Content_And_Management/Industry/U7W2Q4S5

RETAIL giant Harvey Norman *will launch an online retail store* within weeks, executive chairman Gerry Harvey says. 

Mr Harvey, who has spearheaded a campaign by major retailers for the GST to be applied to overseas online purchases, said the time was right to go online even though it would steal sales away from his bricks and mortar stores, the Herald Sun reported.

Read more: http://www.news.com.au/business/har...re/story-e6frfm1i-1226030425518#ixzz0jdp9YdTI


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## Tanaka (30 March 2011)

trainspotter said:


> If you can't beat them join them !!!!!!!! Backflip of the century IMO.




Massive backflip I totally agree. Here I was thinking he was a stubborn old fool. He ain't senile yet.


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## tothemax6 (30 March 2011)

As far as I am concerned Gerry Harvey is a crook.
When somebody wants to increase taxes/tariffs on competitor products so he will get a boost, he should be held in the public's eye to be a 'bag of scum'.

How about we pass a tax called 'take all Gerry Harvey's money and give it to us', and see if he likes the taste of his own medicine.


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## Julia (30 March 2011)

tothemax6 said:


> As far as I am concerned Gerry Harvey is a crook.



He doesn't impress me either.

I remember at the start of and during the GFC, he was dismissive of it being anything to worry about, kept saying nonsense like "it's nothing", and "it's all good", etc.
He always strikes me as someone who is not particularly bright, but I suppose that's not true.


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## MR JOHN (14 September 2011)

Stocks have plummeted, Gerry is bleating about online shopping BUT, today I rang Harvey Norman Chadstone to gert a price on a TV. After my call was answered I was redirected and spent 5 minutes on hold listening to the Harvey Normal Jingle. Eventually the call was answered and I said I'd like a price on a TV. THe response was " Give me a minute will you?" Aftert another 5 minutes of the jingle I hung up. Guess where I DIDN'T buy my TV. No wonder times are tough with that level of service!


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