# The Harvey Norman indicator of retail decline



## MrBurns (25 November 2008)

I've been waiting for this, a massive drop, who knows how bad next year will be - where is the bottom of all this ? It's like watching grass grow and the property decline hasn't really started yet in earnest.



> Retailer Harvey Norman says its profit before tax for the first quarter of 2008/09 is likely to be 31.5 per cent lower than the previous corresponding period.
> 
> Unaudited preliminary accounts for the period from July 1 to September 30 indicate profit before tax and minority interests of $71 million, compared to $103.6 million for the corresponding prior period, chairman Gerry Harvey said in a statement.
> 
> ...


----------



## numbercruncher (25 November 2008)

Von Norman might start begging for the homeless to come spend their pension cheques on a new iphone or something ?


----------



## MrBurns (25 November 2008)

numbercruncher said:


> Von Norman might start begging for the homeless to come spend their pension cheques on a new iphone or something ?




Probably but as he doesnt like people giving to charities, because the recipients dont contribute to society, (his words) I hope everyone leaves him out in the cold. 

Electrical goods including computers from Power House
Furniture from almost anywhere else.
Beds from Capt'n Snooze or 40 Winks
Carpets from Carpet World or a lot of other specialist places.
Better buying computers from your local computer store or Harris Technology, at least they take them back if there's a problem and know what they're doing.

Try taking something back to HN, no thanks.

There's absolutely no need to shop at HN unless you're just sucked in by the ads.

I've got nothing against them except for what Harvey said about charities I just know you can do much better elsewhere.


----------



## Aussiejeff (25 November 2008)

numbercruncher said:


> Von Norman might start begging for the homeless to come spend their pension cheques on a new iphone or something ?




JAWOLT!

Herr Harfey hass veys off makink du schpend, [size=+1]schpend[/size], [size=+2]SCHPEND!![/size]


----------



## MrBurns (25 November 2008)

Aussiejeff said:


> JAWOLT!
> 
> Herr Harfey hass veys off makink du schpend, [size=+1]schpend[/size], [size=+2]SCHPEND!![/size]




10 years interest free, just 90% down no interest on the rest, leave your children as security.


----------



## fimmwolf (25 November 2008)

If you shop at Hardly Normal, you have too much money anyway.


----------



## jonnycage (25 November 2008)

gold,  harvey needs to start offering no deposit home loans
to get the market moving, thowing in the furniture of course,
interest free.


----------



## xoa (25 November 2008)

Good. I'll shed no tears if HN goes bankrupt. They epitomise the worst of contemporary Australian culture.


----------



## glenn_r (25 November 2008)

Watch their sales spike in December when Kevin 747's $1000 per child boost the economy payment gets spent on big screen TV's and the like.


----------



## Ageo (25 November 2008)

glenn_r said:


> Watch their sales spike in December when Kevin 747's $1000 per child boost the economy payment gets spent on big screen TV's and the like.




Then after xmas??? what happens??


----------



## Smurf1976 (25 November 2008)

This time last year I was buying lots of new things (I was moving house at the time).

Oven I bought from Harvey Norman - very nice one, RRP $1600 and got it for $1150 (cash) delivered. Couldn't find the same oven anywhere else and it was exactly what I wanted.

White goods - bottom line here is Electric World were simply cheaper than HN.

TV (big screen) - Same price (after haggling) just about everywhere. I bought it from Myer simply because I'm impressed with the way the company looked after the staff after their Hobart store burnt down last year (even the casuals remained on full pay whilst there was no work for them). 

Maybe I'm wrong, but I can't imagine Harvey Norman etc doing the same thing should something like that happen to one of their stores. Now I just hope Myer can get the financial issues with the building owners sorted out (or find a new landlord) and do something with that big hole in the ground before it ends up being a permanent monument to the financial crisis.


----------



## Glen48 (25 November 2008)

Told HN sold upgrades for my Sat Nav went there and got a new model TomTom just out. Ask the girl how was business she said so slow you can feel it.
Feel sorry for his staff but he is a RE salesman who set up the franchise's and suck them in. A few months ago he told ABC thing would not go bad.
Looks what happened in the past 3 months how quickly it is changing.


----------



## Bushman (26 November 2008)

DJ's sales down 6.8% year-on-year; h/e it met their expectations so no need for a profit downgrade. 

6.8% decrease is fairly hefty in the retail game - discretionary spending is being murdered.


----------



## Aussiejeff (26 November 2008)

Bushman said:


> DJ's sales down 6.8% year-on-year; h/e it met their expectations so no need for a profit downgrade.
> 
> 6.8% decrease is fairly hefty in the retail game - discretionary spending is being murdered.




However, the GuvMint$ XMAS BONUS is nigh!! The chatter of Pokies and *BINGO* will erupt again in a frenzy of productive spending. Santa Swan will go to bed on Xmas Eve with a gleam in his eye.

All's well in the Land of Nod.

"zzzzz....zzz"

:santa:


----------



## greggles (12 June 2019)

The National Australia Bank's monthly business survey says that retail is clearly in recession
Meanwhile, Harvery Norman has spent most of the last five months in a bullish uptrend. 

So who's wrong, the market or the NAB?


----------



## sptrawler (12 June 2019)

In the West, the times seem to be tough for Harvey, I know I have got a couple of great deals recently.


----------



## moXJO (12 June 2019)

Might be a good short opportunity.


----------



## tech/a (12 June 2019)

Retail is stuffed
I haven’t heard an old style retailer
Success story for years.

Only Niche’s seem to survive.

Perhaps Bunnings
Aldi or ikea but you could argue that are
Niche


----------



## SirRumpole (12 June 2019)

tech/a said:


> Retail is stuffed
> I haven’t heard an old style retailer
> Success story for years.
> 
> ...




Online retailing is killing the walk in stores.


----------



## sptrawler (12 June 2019)

SirRumpole said:


> Online retailing is killing the walk in stores.



It certainly is, the only things people are buying in the stores, are things that won't fit in a delivery van. lol


----------



## SirRumpole (12 June 2019)

sptrawler said:


> It certainly is, the only things people are buying in the stores, are things that won't fit in a delivery van. lol




Can't wait till they can deliver a 4k tv by drone.


----------



## Value Collector (12 June 2019)

sptrawler said:


> It certainly is, the only things people are buying in the stores, are things that won't fit in a delivery van. lol




Yeah, I have noticed for a while the Westfield shopping centers that seem to thrive are the ones that have transitioned themselves to become food and entertainment destinations.

Eg, adding upgraded restaurants and bars style locations.

Also shops that rely more on impulse or sell services rather than products still seem to be doing well

Eg, hair dressers, massages, optometrists, dry cleaners etc do well.

As well as show room style businesses like branded apple stores, and some clothing and make up brands.


----------



## Value Collector (12 June 2019)

tech/a said:


> Retail is stuffed
> I haven’t heard an old style retailer
> Success story for years.
> 
> ...




The Apple stores do well, also pet supplies and makeup seem to do well.

I am surprised by a makeup retailer called Sephora, it’s turning into a global chain, my wife always drags me i. On our travels, seems like a very good model.


----------



## Smurf1976 (12 June 2019)

SirRumpole said:


> Online retailing is killing the walk in stores.



Agreed but the stores are partly to blame themselves.

If I go to whatever national chain then every shop has basically the same items for sale. The same narrow selection that is.

Go to shop > they don't have what I want > buy online.


----------



## sptrawler (12 June 2019)

Smurf1976 said:


> Agreed but the stores are partly to blame themselves.
> 
> If I go to whatever national chain then every shop has basically the same items for sale. The same narrow selection that is.
> 
> Go to shop > they don't have what I want > buy online.




Further to that smurf, yesterday my laptop died and wouldn't boot, the battery was removed years ago and it is over 10 years old, so I thought just replace it.
So looked online for what would suit, then checked if the computer store near me sold the model and they did, so I rang the store and was told it was out of stock but they had a similar one several hundred dollars dearer.
I thought ring the Sydney store and check, they told me they could get it from the supplier, but as the stores are franchised use a W.A store.
So rang the second W.A store on the other side of Perth, no they couldn't get that model, so I thought sod it and looked on ebay.
Found the exact same computer, $100 cheaper including postage from Brisbane, I tried to give the business to the local shop but they obviously didn't want the business.


----------



## moXJO (12 June 2019)

Smurf1976 said:


> Agreed but the stores are partly to blame themselves.
> 
> If I go to whatever national chain then every shop has basically the same items for sale. The same narrow selection that is.
> 
> Go to shop > they don't have what I want > buy online.



This is my pet peeve. 
Range is limiting as competition gets knocked. There were was a semi interesting variety before it seemed. Even groceries seems to have been cut down.


----------



## moXJO (12 June 2019)

All the Asians auction off stuff on the livestream video on facebook. They have been doing it for a while. I guess websites and ebay will be the next losing market share as people move to apps. 

Can get some really cheap goods if you know the language. Originated in Singapore but most asian countries have a lot online.
https://www.straitstimes.com/singapore/live-online-auctions-inject-life-into-retail


----------



## sptrawler (12 June 2019)

Wesfarmers obviously think online is here to stay, they just bought "catch.com" web shop, for $230million.


----------



## SirRumpole (13 June 2019)

Value Collector said:


> The Apple stores do well, also pet supplies and *makeup* seem to do well.




Napoleon Perdis ?

https://www.smartcompany.com.au/industries/retail/napoleon-perdis-stores-close/


----------



## Value Collector (13 June 2019)

SirRumpole said:


> Napoleon Perdis ?
> 
> https://www.smartcompany.com.au/industries/retail/napoleon-perdis-stores-close/




Never heard of that chain. But the American style stores such as Sephora my wife drags we into always seem to be full.


----------



## SirRumpole (13 June 2019)

Value Collector said:


> Never heard of that chain. But the American style stores such as Sephora my wife drags we into always seem to be full.




I never heard of it either, but I'm not into makeup. 

My local chemist shop was selling it so it appears that they are looking for alternative outlets to their own stores.


----------

