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Australian Retailer Harvey Norman Reports Flat Sales in Slovenia in Fiscal Yr Ended June 30

Oct 16, 2009, 3:06:36 PMArticle by Georgi Georgiev
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LJUBLJANA (Slovenia), October 16 (SeeNews) – Australian electronics and home furnishings retailer Harvey Norman said sales generated by its two stores in Slovenia rose by just 0.7%, or 230,000 euro ($343,000), in the fiscal year ended June 30, 2009.

Australian Retailer Harvey Norman Reports Flat Sales in Slovenia in Fiscal Yr Ended June 30

The segment result for the Slovenian outlets rose by 28.2% to a combined 3.12 million Australian dollars ($2.9 million/1.9 million euro) in the 12 months through June, assisted by an appreciation of the euro relative to the Australian dollar and the strong brand recognition on the Slovenian retail market, the company said in its amended annual report filed with the Australian Stock Exchange (ASX) earlier this week.

Segment result is operating profit before interest, taxes, and head office expenses.

"Sales from the franchised Harvey Norman complexes, commercial and other sales outlets in Australia, New Zealand, Slovenia and Ireland (excluding Singapore) totalled 1.5 billion Australian dollars for the three months ended September 30, 2009," the company said in a separate statement filed with the ASX on Friday.

Australia’s largest retailer entered the Slovenian market in 2002 by opening an outlet in the capital Ljubljana (www.harveynorman.si). It later added a store in Koper, on Slovenia’s Adriatic coast.

Harvey Norman stores retail electronics, computer equipment, small appliances, furniture, bedding and home improvements.

The company is also present in Australia, New  Zealand, Ireland, Singapore and Malaysia.

(1 euro=1.6237 Australian dollars)

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